The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.


All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Banking

The new colour of money: Eco-magine all the people

While banks look to clean up in green finance, they face one competitor that could trump them all – General Electric.

The new colour of money
Environmentalists at the gates
Caring, not sharing

GE, through its GE Energy Financial Services (EFS) division, is in a unique position to benefit from the new climate in alternatives investment. Renewables is the fastest-growing segment of its energy investments. Of a total $14 billion invested in energy, to date $2 billion is in alternatives. Kevin Walsh, head of EFS’s renewable energy investing team, says that number will at least double by 2010.

In project finance, EFS has invested sizeable capital, typically over $100 million at a time in wind, hydro and geothermal projects. It also makes a number of smaller, venture capital-style investments in clean technology firms each year. And this year, it announced a joint venture with AES to develop and sell carbon credits in the US.

All this, as well as GE’s Earth Rewards credit card, falls under the company’s Ecomagination branding umbrella. Add in the fact that GE actually has the contracts to build many of the new power plants, and it is a compelling business proposition. It would appear the world’s largest banks could learn a thing or two from one of the world’s largest companies.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree