Another Business Giant sees the Jolly Green Light

Imagine Gordon Gekko spouting "Green is Good."

"Vanity Fair has dubbed green the new black. While that may be fine on fashionable Madison Avenue, black still means profit and it still rules on Wall Street.

But one venerable investment bank is charting a greener course to the bottom line.
The Goldman Sachs Group, which announced what many regard as the banking industry's most aggressive environmental policy less than a year ago, has invested more than $1.5 billion in renewable energy and energy efficiency projects, according to a senior company official. And with big plans to become a major liquidity provider in emerging energy markets, reduce its carbon footprint and support a federal emissions cap-and-trade regime, Goldman appears to be just warming up.

Wall Street is watching closely just how far Goldman's new Chairman and CEO Lloyd Blankfein will take the world's largest investment bank in an unprecedented green direction. While environmental and free-market advocates are divided whether Goldman should stay the course and whether other investment banks should follow, Goldman's most recent investments are clearly in the black."

Goldman Sachs sets pace in new 'green' marketplace via TriplePundit