Investors See Green in Clean Energy

From Boston Globe

By Derrick Z. Jackson

It was not the usual roundup of environmental activists saying the sky is falling. Instead, it was the biggest bankers and insurance companies calling for massive investments in clean energy lest we — and they — pay in massive damages from climate change.

“It’s the issue of our day,” said former Treasury Secretary Robert Rubin.

“The costs of another Sandy will grow from $19 billion to $90 billion,” said J. Eric Smith, the CEO of Swiss Re Americas.

Lisa Carnoy, head of global capital markets for Bank of America Merrill Lynch, exhorted her colleagues to fund clean energy projects until “every blue chip company in the S&P and . . . every investment manager has a green energy bond.”

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