25 May '12, 11am

Goldman Sachs Investing $40 Billion More in Clean Energy

Goldman has also pledged to reduce its own net carbon emissions to zero by 2020. Stuart Bernstein, head of Goldman’s clean technology and renewables investment banking group, compared the opportunity to technology investments in the 1990s or investing 10 years ago in fast-growing countries like Brazil, Russia, India and China, for which Goldman economist Jim O’Neill coined the term “BRIC” in 2001 Enthusiasm for renewables was high in 2006 and 2007 as oil prices soared. But enthusiasm waned after the financial crisis cut energy demand and cash-strapped governments reduced subsidies for alternative energy programs. The use of hydraulic fracturing technology to access abundant supplies of natural gas in the United States and elsewhere has also undermined alternative sources of energy. “Obviously we recognize this is not the easiest of times in the clean energy market but neve...

Full article: http://cleantechnica.com/2012/05/25/goldman-sachs-investi...

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