The Dernogalizer

August 12, 2010

Failure of Senate Climate Bill: Immediate Economic Implications

Filed under: Energy/Climate,National Politics — Matt Dernoga @ 7:36 pm
Tags: ,

Check out this article in Reuters about Deutsche Bank, which manages over $700 billion in funds, and invests $6-7$ billion dollars into green tech and climate related products.  The bank will be putting its dollars to China and Western Europe, where political leaders are more serious about pricing carbon, reducing greenhouse gas emissions, and increasing the usage of clean energy.

From the head of the bank’s Global Asset Management Division: “They’re asleep at the wheel on climate change, asleep at the wheel on job growth, asleep at the wheel on this industrial revolution taking place in the energy industry,” Parker said of Washington’s inability to seal a climate-change program and other alternative energy incentives into place.”

“We’ve said that we’re going to put our capital in places where we can get our arms around regulatory risk,” Parker said. And what that required, he said, were government policies that provide “transparency, longevity and certainty.”

For Deutsche Bank, which has erected a “carbon counter” in Manhattan to tick off the level of greenhouse gases in the atmosphere, that means concentrating on investment opportunities inGermany, Italy, Spain and China, according to Parker.

“The U.S. hasn’t even entered the race yet” for a clean-energy economy, Parker said. Indicative of that was the fact that of the nearly $7 billion in green investments his fund currently juggles, only about $45 million originated in the United States, according to Deutsche Bank.”

Sadly, this bank is just one example of many more investors and businesses that will be investing where the regulatory climate favors green tech.

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