Age
Wednesday 15/4/2009 Page: 6
A leading clean tech investor says Australia will reap opportunities and the "green dollar" but only once it beds down its carbon trading scheme and turns its attention to climate change-related investment.
Mark Fulton, Deutsche Asset Management's global head of climate change investment research, believes that the combination of an effective emissions trading scheme and investment in the clean tech sector will result in "green jobs, green growth and low-carbon prosperity" for Australia. "We see that Australia is ahead of the curve in establishing carbon architecture and that is great but what we need to see now is a focus on investment in green infrastructure, renewable energy and energy efficiency," lie said.
Mr Fulton said the clean tech sector was one area he believed would be among the first to climb its way out of the economic downturn. Deutsche's appetite to invest is encouraging given last month's report by New Energy Finance, which predicted the effect of the world economic crisis on clean energy meant growth was no longer on track to avert the worst impacts of climate change. New Energy Finance's report says investment needs to reach $US500 billion ($A696 billion) a year by 2020 if global emissions are to peak before 2020.
Link www.db.com
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