March 13, 2017 Read More →

On the Blogs: The Promise of Renewables

Huffington Post:

US financial expert Tom Sanzillo made the case that investing in renewables could bring financial returns of up to 15%. Sanzillo used to oversee the New York State pension funds and bonds programs, amounting to over US$350 billion, so he knows how to make solid investments with a giant fund.

As he pointed out, huge fund managers like Brookfield Asset Management are already investing in renewables infrastructure – and are reaping huge rewards and managing the risks. China and India are leading the way in renewables investment. China installed an average of two wind turbines an hour throughout 2015 and will invest US$360 billion in renewables by 2020. Billions are being invested into India’s 100 gigawatt solar plan.

Sanzillo recommended that Norway screen out coal in 2015 and decision makers made an historic decision to do so on climate grounds. This was the biggest fossil fuel divestment to date anywhere in the world, sending a chill wind through the global coal industry. Soon after major coal company bankruptcies took place. Smart move then. But now it’s time to divest further from carbon majors and look to cleaner investments.

Last week, the US financial expert Tom Sanzillo was in Oslo. He made the case that investing in renewables could bring financial returns of up to 15%. Sanzillo used to oversee the New York State pension funds and bonds programs, amounting to over US$350 billion, so he knows how to make solid investments with a giant fund.

As he pointed out, huge fund managers like Brookfield Asset Management are already investing in renewables infrastructure – and are reaping huge rewards and managing the risks. China and India are leading the way in renewables investment. China installed an average of two wind turbines an hour throughout 2015 and will invest US$360 billion in renewables by 2020. Billions are being invested into India’s 100 gigawatt solar plan.

Sanzillo recommended that Norway screen out coal in 2015 and decision makers made an historic decision to do so on climate grounds. This was the biggest fossil fuel divestment to date anywhere in the world, sending a chill wind through the global coal industry. Soon after major coal company bankruptcies took place. Smart move then. But now it’s time to divest further from carbon majors and look to cleaner investments.

Can Norway make money without destroying the planet?

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