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Al Gore interview: “Markets are the key to climate change”
Al Gore, the former vice-president of the US, is the most high-profile figure in the fight to force action to combat global warming. In an interview with Euromoney’s editor, Clive Horwood, he explains why a new approach to investment is needed and discusses his own hands-on experience, adopts an unusual position in the carbon tax versus cap-and-trade debate, and says banks are generally ahead of the game – but still have a lot more to do.
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Carbon markets: Hot times for emissions trading Banks have come to realize that to make money from emissions trading markets they would do well to tie up with the consultants that understand the technicalities and with the corporates that own Clean Development Mechanism schemes.
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“There’s a rush to find good ways to incorporate indicators of sustainable value, which means the end of the short-termist bubble is near. And good riddance, because a lot of damage was done to the environment, and continues to be done, because of it”
-Al Gore, Markets are the key to climate change
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Green finance: Cleaning up in China
Baffled at first by the unwonted benevolence of the clean development mechanism, Chinese enterprises rapidly jumped on the carbon trading bandwagon. There have been instances where companies have metaphorically as much as literally cleaned up – either way the net effect is beneficial to the environment. Can restriction talk be more than hot air?
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Opinion: A bet on climate Harnessing market forces for innovation will create technology options, and a more stable climate, for future generations, argues Jon Anda, president of the Environmental Markets Network at Environmental Defense.
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Hedge funds: Man’s green stand starts to pay off Man is the world’s largest hedge fund group, with more than $65 billion in assets. It also claims to be the greenest hedge fund. CEO Peter Clarke tells Helen Avery how alternative investment firms can offer the returns investors want and play a positive role in preventing climate change.
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Opinion: Green police help keep climate change action on the fringes Market forces have the best chance of driving significant actions that will boost climate change. However the forces of resistance are strong – both from entrenched interests and the green movement itself. Charles Dumas of Lombard Street Research argues for the nuclear option.
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