Another victim of the AIG clusterfuck: Green investing

[charlie]

Last month American Insurance Group (AIG) closed its climate change program, which included keeping an inventory of greenhouse gas emissions. The only thing left is the Global Marine and Energy division, but nothing that directly tackles climate change. The Global Marine and Energy division contains some of the "company’s most robust portfolio of renewable energy providers," as a New York Times article put it.

...

Thomas is worried that AIG’s decision about its climate change program will "retard the development of some of the financial instruments to address some of the issues in climate change." He pointed out that "AIG was a leader in that area, and now because of so much of what AIG did is in disrepute on the financial product side, I think that sends a chill through everyone."

AIG has received about $180 billion from the government to keep it afloat. Treehugger made the following observation about AIG closing its climate change program:

It's kind of ironic, really--the company that had a hand in creating a global recession by making unsustainable investments was on the brink of making some of the most important, most sustainable investments of all.

http://www.triplepundit.com/pages/aig-closed-climate-change-program.php