Financial crisis should stimulate green investment
Deutsche Asset Management (DeAM) published the research paper, “Investing in Climate Change 2009 — Necessity and Opportunity in Turbulent Times.” This is a framework for understanding the investment opportunities that climate change offers but it also states that the economic downturn offers governments across the developed world a prime opportunity to boost their spending on ‘green’ infrastructure as a stimulus to avoid severe recession.
Mark Fulton, DeAM’s Global Head of Climate Change Investment Research, says that “Encouraging investment in renewable energy is a key focus. Energy efficiency technologies are obviously highly desirable in economies facing recession. Infrastructure stimulus can be tied directly to climate-sensitive sectors such as power grids, water, buildings, and public transport, which present a vast field for the creation of new technologies and jobs. Governments have before them a historic opportunity to ‘climate proof’ their economies’ as they upgrade infrastructure as a core response to any economic downturn.”
The debate around climate change is shifting from cost and risk to how to capitalize on exciting opportunities.
Kevin Parker, Global Head of Deutsche Bank’s Asset Management division and a member of the Bank’s Group Executive Committee says that this is no time for governments to back away from climate change initiatives in the face of tough economic conditions. He points out that carbon in the atmosphere has reached an 800,000 year high and that global warming may be only a few years away from the point of no return. “Severe though it is, the current financial crisis can eventually be fixed, and should not be used as an excuse for inaction.”
Technorati Tags: Carbon, Climate change, atmosphere, Global warming, Financial crisis
Save Money with Simple and Effective Management SystemsJean Cannon is an award winning consultant and trainer helping people and businesses around the world who want to save money by implementing simple and effective management systems. Sign up to discover how YOU can save money with sensible energy management and ISO 14001.
