Investors Embrace Climate Change, Chase Hotter Profits – Bloomberg

Investing in climate change used to mean financing the fight against global warming. Morgan Stanley, Goldman Sachs Group Inc., and other firms took stakes in wind farms and tidal-energy projects, and set up carbon-trading desks.

Enlarge image Investors Sold on Climate Change Seek Profits as Earth Warms

A worker cuts sugarcane in Goianesia, about 135 miles from Brasilia, Brazil, in this file photo. Photographer: Adriano Machado/Bloomberg

Enlarge image Investors Sold on Climate Change Seek Profits as Earth Warms

A parched dry bed in the Khadaghoda Sector in the Little Rann of Kutch, some 160 kms from Ahmedabad, India. Photographer: Sam Panthaky/AFP via Getty Images

Then, as efforts to curb greenhouse-gas emissions faltered, the appeal of clean tech dimmed: Venture capital and private- equity investments fell 34 percent last year, to $5.8 billion, according to Bloomberg New Energy Finance.

Now the smart money is taking another approach: Working under the assumption that climate change is inevitable, Wall Street firms are investing in businesses that will profit as the planet gets hotter.

via Investors Embrace Climate Change, Chase Hotter Profits – Bloomberg.

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