14 March 2007, Daily Telegraph

Gore's message is more than hot air

Ex-US vice president's preaching on global warming has an important trading lesson, writes Tom Steveson.

"Last year may have been a volatile one for the carbon trading, but it was also the year in which the industry came of age... Morgan Stanley has said it plans to invest £3bn in the carbon trading market over five years. Climate Change Capital, a niche investment bank, recently launched a $1bn fund. Its chief executive, Mark Woodall, is promising returns 'commensurate with venture capital or infrastructure investment.' "

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