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Well, taxes are surely one big reason, but not the only reason. Bloomberg invests in renewable energy because it is the personal view of the majority shareholde
by apaprocki 14y ago
Well, taxes are surely one big reason, but not the only reason. Bloomberg invests in renewable energy because it is the personal view of the majority shareholder that we should be doing it.[1] We get 58% of our energy from wind power and offset an additional 25% by purchasing GREEN-E certified biomass certificates (RECs).
[1]: http://www.bloomberg.com/news/2012-11-01/a-vote-for-a-president-to-lead-on-climate-change.html http://www.bloomberg.com/news/2012-11-01/a-vote-for-a-presid...
- tvladeck 14y agoNB: buying green power and / or RECs is _very_ different from investing directly into a renewable energy development. I would agree with your larger point that there are other (non-financial) sources of return to these investments.
- apaprocki 14y agoYes, I agree.. not to say that there isn't direct investment as well, but at a much smaller scale. We built solar farms to power our offices in NJ (50% @ 1.8MW[1]) and San Francisco, but those direct investments only account for 1% of worldwide power usage. [1]: http://blog.bloomberg.com/2012-03-14/bloombergs-princeton-office-goes-solar/ http://blog.bloomberg.com/2012-03-14/bloombergs-princeton-of...