One of the driving forces behind the Live Earth concerts
has called on business to usher in 'a third industrial
revolution' if global carbon emissions are to be reduced.
Michael Mathres, a former UBS banker and serial entrepreneur,
who first developed the idea of a global concert to raise
awareness of climate change, has started a service designed
to accelerate global investment in low-carbon and renewable
energy technologies. He said that new technologies to tackle
climate change were critical to saving the environment and
represented the biggest commercial opportunity of the century.
"The Kyoto Protocol is simply not enough" - he
said. "We have to massively reduce our global emissions
and have only ten to twenty years to fix things. We need to
start a third industrial revolution, predicated on - and driven
by - low-carbon energies and technologies."
He believes that there is a vast shortfall in the investment
required to reduce global CO2 emissions.
The Stern Review projected that 1 per cent of global GDP must
be spent every year for the foreseeable future - roughly $350
billion to $480 billion (£240 billion) - on the task.
United Nations' figures indicated last year that only $100
billion to $150 billion was invested.
Climate Capital Network will help to accelerate the
global transition to a low-carbon economy by connecting investors
and entrepreneurs offering solutions such as renewable energy,
clean technology, energy efficiency and recycling.
About 25 British and American entrepreneurs and companies
- providing climate change solutions - have registered on
the company's website. A similar number of potential investors
and philanthropists have also registered.
Climate Capital Network conducts due diligence and offers
strategic advice, intelligence and assistance with fundraising.
It charges a success fee for matching investors and businesses
as well as for research and consultancy work. Mr Mathres said
that the service had conducted research on 400 projects and
had a database of 2,000 investors eager to invest in the sector.
He said - "Climate Capital Network will mobilise global
investors and connect them with these low-carbon solutions."
The company is chaired by the environmental finance guru
- Peter Fusaro, of Global Change Associates - who coined the
term 'green trading'.
To access the Climate Capital Network website - Click