Green Daily

Greed may save the planet yet. You'd think that avoiding extinction would be incentive enough for people to get eco-friendly but sadly it ain't, so it's encouraging to see environmentalism becoming good business. The Worldwatch Institute State of the World 2008 report says that investment into sustainable techologies is growing in leaps and bounds. For example, around $52 billion flowed into in renewable energy in 2006, up a third from 2005, and it looks like that figure may have hit $66 billion in 2007. Green technology is now the third biggest recipient of venture capital, behind only the traditionally highly funded areas of the web and biotech.

Major companies are also finding that it pays to green up their act without waiting for government intervention. The report offers the example of chemical firm Dupont which reduced greenhouse gas emissions to 72% below 1991 levels and saved $3 billion in the process. That's the kind of result that appeals to both shareholders and treehuggers.

Potential downside? Well, as we told you earlier, if the economy tanks, all that money could dry up and a lot of great projects go unfunded. However, for now, the money momentum is all good for Gaia.