blog

There is Money to be Made with Global Warming

By Steven Miyao

The world is facing global warming, not global icing -- but DWS Scudder is creating buzz by transforming Rodeo Drive in Beverly Hills into a ski slope. There will be more than 80 separate events that are supposed to generate visibility for their Climate Change Fund. DWS claims that the event has been structured as carbon neutral. All greenhouse gas emissions generated in the course of the event are offset by an investment in a high quality emission reduction project, namely Bagepalli Biomass Project.

DWS follows in the footsteps of a number of climate-related investment funds, such as:

• Allianz, with its RCM Global Eco Trends Fund, which invests in companies that support alternative energy, energy efficiency, pollution control, environmental quality, waste management, recycling, and the clean water sector
• Fred Alger and its Spectra Green funds, which have recently broadened their composition of green fund portfolios to include companies across all industries that are making serious investments and commitments to change the way they do business

DWS continues to position itself as an innovator: in 2006, the company combined its asset management and investment banking capabilities to launch a series of structured notes. In 2007, sales of these products rose to approximately $330 million, up from $55 million in 2006. DWS is continuing to push the envelope by moving away from touting performance to creating buzz through these provocative events.