Comments on: Major U.S. Banks Will no Longer Finance “Dirty” Power Plants http://www.environmentalgraffiti.com/business/major-us-banks-will-no-longer-finance-dirty-power-plants/762 for environmentalists who don't take themselves too seriously Fri, 27 Nov 2009 14:41:33 +0000 http://wordpress.org/?v=2.8.6 hourly 1 By: PlanetThoughts http://www.environmentalgraffiti.com/business/major-us-banks-will-no-longer-finance-dirty-power-plants/762/comment-page-1#comment-16867 PlanetThoughts Tue, 05 Feb 2008 12:59:26 +0000 http://www.environmentalgraffiti.com/business/major-us-banks-will-no-longer-finance-dirty-power-plants/762#comment-16867 Hmm, this is a nice piece of news, but I am afraid it is somewhat like a child sticking a finger in the New Orleans levee after Katrina struck. The pressure for quick additional energy is going to get more and more intense, and already is intense in China and perhaps India. Many "leaders" are speaking of coal and nuclear. Even if they try to clean coal, will our country, China, India and Australia really do enough (four of the countries with the most coal reserves)? The best hope of avoiding disastrous environmental damage such as mercury, sulfur, and nuclear waste, it seems to me and many others, is a strong focus on renewables - photovoltaic, wind, waves, and tidal (plus existing dams, some geothermal, etc). These should be moved in quickly, as if in a war time economy. It is a war with the consequences of our own prior actions on the planet. Hmm, this is a nice piece of news, but I am afraid it is somewhat like a child sticking a finger in the New Orleans levee after Katrina struck. The pressure for quick additional energy is going to get more and more intense, and already is intense in China and perhaps India. Many “leaders” are speaking of coal and nuclear. Even if they try to clean coal, will our country, China, India and Australia really do enough (four of the countries with the most coal reserves)?

The best hope of avoiding disastrous environmental damage such as mercury, sulfur, and nuclear waste, it seems to me and many others, is a strong focus on renewables – photovoltaic, wind, waves, and tidal (plus existing dams, some geothermal, etc). These should be moved in quickly, as if in a war time economy. It is a war with the consequences of our own prior actions on the planet.

]]> By: Rishub http://www.environmentalgraffiti.com/business/major-us-banks-will-no-longer-finance-dirty-power-plants/762/comment-page-1#comment-16782 Rishub Tue, 05 Feb 2008 04:49:50 +0000 http://www.environmentalgraffiti.com/business/major-us-banks-will-no-longer-finance-dirty-power-plants/762#comment-16782 As has been truly said "greed for the lack of a better word is beneficial for the society". When everyone thinks in their best interests things seem to become efficient; so has been the case with these investment banks, their desire to avoid risk (bad debts) is going to be beneficial for the environment. In my view, the decision by these banks to impose these environmental standards on coal fired power plants is like a pseudo legislation since they are the financiers of these power plants - the backbone of the whole project. Bottomline : MONEY TALKS As has been truly said “greed for the lack of a better word is beneficial for the society”. When everyone thinks in their best interests things seem to become efficient; so has been the case with these investment banks, their desire to avoid risk (bad debts) is going to be beneficial for the environment.

In my view, the decision by these banks to impose these environmental standards on coal fired power plants is like a pseudo legislation since they are the financiers of these power plants – the backbone of the whole project.

Bottomline : MONEY TALKS

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