Banking on the environment

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.

Getting Started With Solar

Getting Started With Solar

Do we really want the one thing that gives us its resources unconditionally to suffer even more than it is suffering now? Nature, is a part of our being from the earliest human days. We respect Nature and it gives us its bounty, but in the recent past greedy money hungry corporations have made us all so destructive, so wasteful.

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