Sustainable Investment and Corporate Governance Working Papers, Sustainable Investment Research Platform
No 2007/2:
Why the Climate Change Debate has not Created more Cleantech Funds in Sweden
Ian Hamilton ()
Abstract: There are a number of long-term global trends driving the
demand for more environmentally friendly technologies. This area, referred
as “cleantech”, was coined in the United States during this century and
described as “new technology and related business models offering
competitive returns for investors and customers while providing solutions
to global challenges” ( Cleantech Network, 2007). This and others like it
represent broad definitions of technology that can replace old technology
with new and improved solutions that offer a reduced impact on the
environment.
Urbanization and growing world population are strong
drivers for technologies that offer solutions in the area of
transportation, water supply and treatment, air pollution and energy
(Nutek, 2006). As mentioned in reports by Stern and International Panel of
Climate Change (IPCC) the consequences of over 150 years of mainly western
industrialization have resulted in imbalances of the global ecosystem. The
unsustainable production and consumption of non-renewable energies have
caused a global increase in green house gas emissions and the emerging
threat of climate change (Stern, 2006). The depletion of energy resources
calls for a need to develop even more effective ways of combustion of
fossil fuels or renewable energies. The uncertainty of global fossil fuel
supply is causing non-renewable energy price to move up. This has a
destabilizing effect on national security as governments grow dependent on
oil & natural gas imports (Nutek, 2006).
For these reasons there are
strong incentives for investors to receive attractive returns for
investments in cleantech industries. So far the interest from the
investment community has been by far greater in the United States than in
Europe and especially Scandinavia. This by itself is remarkable as US is
many times portrayed as unwilling to take on and bare responsibility for
its contribution towards climate change. In spite global trends driving
demand for cleantech companies this paper looks at reasons why Swedish fund
managers have not until now launched a few products for private investors
on the Swedish fund market.
Keywords: No; Keywords; (follow links to similar papers)
23 pages, November 20, 2007
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