Many banks are becoming involved with the fight against climate change by offering specialized services to clients committed to reducing greenhouse gases or providing renewable resources:
i Goldman Sachs: American investment bank Goldman Sachs has invested heavily in carbon markets, owning large shares in the Chicago Climate Exchange and the European Climate Exchange. (We talk about private carbon trading in the section "Trading Carbon between Manufacturers," earlier in this chapter.) Goldman Sachs also founded the Center for Environmental Markets, which issues grants for research in market solutions for environmental issues. The company has invested over $1.5 billion in renewable energy sources.
i Bank of America: This second-largest U.S. bank has created an environmental banking group dedicated to conservation and reducing global warming. The bank's new headquarters in New York is housed in one of the greenest skyscrapers ever built.
i ABN AMRO: This Dutch banking giant, which refers to climate change on its Web site (www.abnamro.com) as "both a challenge and an opportunity," offers risk management services to help its clients reduce their possible losses from climate change.
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Global warming is a huge problem which will significantly affect every country in the world. Many people all over the world are trying to do whatever they can to help combat the effects of global warming. One of the ways that people can fight global warming is to reduce their dependence on non-renewable energy sources like oil and petroleum based products.