|Green Business Goes Global |
By Gregory Mone
February 28, 2008
Foreign countries and local industry alike are increasingly courting investors interested in that other green
Abu Dhabi: Abu Dhabi committed $250 million to a green-focused venture capital
fund—one of the goals is to plan a city that derives all of its electricity from
solar power. NASA
The Cleantech Forum, an annual conference bringing together green-focused
companies and investors, has acquired a distinctly global appearance this year.
Business leaders launched a new organization designed to boost green startups in
India; and Singapore and Abu Dhabi courted investors, suggesting they’d be ideal
locations for this "industry of the future" to grow.
According to the San Francisco Chronicle, it’s a seriously hot business—green
companies won nearly 50 percent of a total of $3.95 billion venture capital
funding last year. This trend is just as evident outside the States. The
government of Abu Dhabi has committed $250 million to a green-focused venture
capital fund—one of the goals is to plan a city that derives all of its
electricity from solar power.
Even retail giant Wal-Mart is trying to clean up its environmental impact. The
company is on the lookout for better batteries for its forklifts and new ways of
managing its solid waste.