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Investors want proof of Obama green change | Environment | Reuters

Investors want proof of Obama “green” change

By Gerard Wynn and David Fogarty – Analysis

LONDON/SINGAPORE (Reuters) 6 Nov 08 – President elect Barack Obama faces demands for proof of a change in U.S. tack on the climate from “green” investors and businesses around the world.

Obama said in his acceptance speech Tuesday that climate change was a top priority, alongside wars in Iraq and Afghanistan — marking a sharp shift with President George W. Bush, criticized for downplaying the threat from global warming………………………

“Green” investors, analysts and bankers were not expecting miracles overnight but want early proof of Obama’s climate credentials, when he takes office on January 20.

“The first is that he is seriously looking for a quick way through for national cap and trade in the United States,” said Henry Derwent, head of the Geneva-based International Emissions Trading Association (IETA), the carbon market lobby group…………………………

“I’d like to see the first $15 billion (of low-carbon cash) funded in his first budget,” said Mark Diesendorf, environmental and sustainable energy analyst at Australia’s University of New South Wales.

The Australian government was elected last year partly on promises to cut greenhouse gases and expand renewable energy. “However, in its first budget in May 2008, it funded almost none of its promises to renewable energy,” said Diesendorf.

Investors want proof of Obama green change | Environment | Reuters

November 7, 2008 - Posted by Christina Macpherson | Uncategorized