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Clinton Global Initiative: Swiss Re Invests Millions in European Clean Energy
Emily Gertz, 17 Sep 05

CGIA real come to the mountain moment right now: The midday plenary features former Senator Tim Wirth moderating a panel on "Global Warming and Severe Weather Events" -- Al Gore, Jim Baker, and Swiss Re president Jim Coomber . While what they're saying is familiar enough to those of us who've followed climate change for all these years -- the urgent need to act, the scientific consensus, the wrongheadedness of the naysayers, the problems with how the press reports on the issues, the need for business to take a big role, the opportunities that climate change offers for technology, for significant U.S. leadership, dramatically changing how business is done -- it's energizing to listen to four well-spoken, very smart, incredibly informed and very dedicated men discuss the issues. The room's rapt (the partipants are at lunch tables, but there's no side conversation) -- Gore's gotten one standing ovation already.

Swiss Re's announced a commitment to launch a European Clean Energy Fund that'll attract institutional investment money into clean energy and low carbon investments in Europe. The fund is expected to reach $300 million (250 million Euros) -- Swiss Re itself commits up to 20 million Euros to the fund, which will be a joint venture other asset managment firms. The fund will target wind, biomass, co-generation, combined heat and power, energy efficiency, geothermal, and hydro power.

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