Quotes of the month
"In some cases the commitment of larger banking institutions has run ahead of the expertise and knowledge that currently exists. And that’s OK. It’s right to try to understand the best ways to maximize the opportunities. It’s a massive shift, and it’s going to pick up speed and be one of the largest movements in the history of business"
Al Gore, former vice-president of the US, on why banks are right to make major commitments to finding solutions to climate change (see interview)
"The impact on funding markets will be transformational. The sectors that will be most affected by dealing with climate change are infrastructure, transport, energy, and technology. These can account for up to half the global financing needed in any given year. You’re talking about hundreds of billions of dollars"
Michael Klein, co-president of Citi, on why global warming means financial markets will never be the same again
"Everyone went from drinking out of the water cooler to drinking out of a fire hydrant – it becomes very, very difficult!"
Dennis Stemmle, head of servicing operation at American Residential Equities, gives a new take on liquidity during the sub-prime fallout
"There is no link"
Sinan Al-Shabibi, central bank governor of Iraq, denies that Russia will win any oil contracts by cancelling the country’s debt (see interview)