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Business world finally sees potential profits in joining the battle against global warming

The United States, Europe and Japan are locked in a frantic race to cash in on the exploding business of saving the planet. London has become the center for the multibillion dollar market in carbon emissions, attracting investors who trade CO2 allowances. Silicon Valley is leading the way in attracting venture capital for green technologies that shows signs of mirroring the dot-com boom — and critics say eventual bust — of the 1990s. Like all markets, the clean energy industry faces risks. A sustained fall in the world's steep oil prices could make investment in alternatives to fossil fuels seem less attractive. More important, to sustain business' new attraction to clean energy, governments must maintain, or even step up, efforts to cut carbon emissions. But for now, the battle against global warming continues to offer investors an unusual chance to be idealistic and greedy at the same time. Read more. (Source: International Herald Tribune)

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20 August 2007