Post by dgriffin on Oct 6, 2008 6:13:21 GMT -5
In this morning's Toronto Star:
Climate right for government green bond
(In an article that asks what Canada is doing about green energy.)
"It gets worse. The collapse of Wall Street has severely tightened lending markets. There's a global credit crunch, and those looking to spend big bucks on wind, hydroelectric, solar and biomass projects will find it much more difficult — and expensive — to obtain debt financing.
"The bottom line: the knee-jerk reaction to the financial crisis will lead to less, or slower action on the climate crisis."
"These are capital-intensive projects," says Tom Rand, director of Toronto-based VCi Green Funds Inc., a private-equity fund that invests in technologies that reduce greenhouse-gas emissions. "And we need renewable-energy production to step up tomorrow."
www.thestar.com/Business/article/512199