Deutsche Bank Names Climate Breakdown "Global Megatrend" - Reuters

[hatrack]

BEIJING - Government efforts to tackle climate change are creating a "megatrend" investment opportunity that should tempt even those sceptical about the nature and pace of global warming, Deutsche Bank analysts said on Thursday.

"The climate change markets are being created by governments through their regulation," said Mark Fulton, the bank's global head of strategic planning and climate change strategist. "Whether you believe the science or not, investable markets are being created by governments, and these investable markets we think will grow significantly over the next 20 to 30 years," he said at the launch of a report on climate change investment.

The bank has attracted around 6 billion euros (US$8.55 billion) into climate change funds, which target firms with products that cut greenhouse gases or help people adapt to a warmer world, in sectors from agriculture to power and construction. It is hoping to tap into a growing awareness of the cash to be made from cleaner technology -- once more a preserve of idealists than hardnosed investors.

"We believe the shift away from a carbon-based economy is a megatrend that will shape the asset management industry for many years," Kevin Parker, global head of asset management, said in a statement.

EDIT

http://www.planetark.org/dailynewsstory.cfm/newsid/44904/story.htm

[lovuian]

1. they are seeing the light

we need to get away from oil