The Brazilian bank Itau Unibanco Holding SA raised 1.05 billion reais ($408 million) to finance renewable energy and water treatment projects.
Many people still think of green technologies as costly. But cost
is never the main barrier to efficiency measures, which often can
boast internal financial returns far higher than even risky junk
bonds. The barriers against energy efficiency and legion,
but cheif among them are the small size of the investments and
split incentives, where the person making the investment is not
the same person who reaps the rewards.
The UN climate conference in Lima set the stage for Paris in 2015. Next year’s accord is to provide a working, albeit not a final, answer to the question: Is it possible to keep global warming at or below the 2 degree Celsius limit? This limit is considered the boundary beyond which the negative climatic, economic and social consequences of climate change are thought to become intolerably severe and potentially irreversible.