The author, Fred Krupp, is president of the NGO,
Environmental Defense Fund.
From the Wall Street Journal Editorial page:
In the Frank Capra movie classic, "It's a Wonderful Life," the Bailey Brothers Building and Loan is facing a Depression-era bank run. George Bailey leaps over the counter, blocks the door, and says to the panicky investors that they're "thinking of this place all wrong."
Today's investors need to hear the same message: If you're worried that stopping global warming will wreck the economy, you're looking at this all wrong. Solving global warming will be an added cost, yes – but a bargain compared with the economic cost of unchecked climate change. And fixing this problem will create an historic economic opportunity.
Energy is the biggest business in the world, "the mother of all markets," says venture capitalist John Doerr, Google's first funder. The winners of the race to reinvent energy will not only save the planet, but will also make megafortunes. Venture capitalists and companies like Google are already jockeying to fund clean energy start-ups. In 2007, clean tech was the fastest growing category of venture investing in the U.S., growing four times as much as Internet investing, according to PriceWaterhouseCoopers....MORE
HT: the WSJ's Environmental Capital blog.