Green Finance Emerges on Wall Street May 15, 2009

As the global economic storm rages on, Wall Street executives and their city officials are discussing how to transform the US financial sector into an international hub for green finance and environmental commodities trading. Talks were sparked by news of a draft for energy and climate legislation recently unveiled by House Democrats Reps. Henry Waxman of California and Ed Markey of Massachusetts.

The cap and trade proposal has investors and analysts talking amongst themselves and measuring the prospects of the nation’s economic future. There are certainly provisions to be wary of, such as those concerning a federally mandated carbon market, which may make it difficult to find domestic offsets. Still, carbon offsets require low capital intensity and promise guaranteed returns. Not to mention, the Waxman-Markey proposal seems to offer the much needed confidence to many that Congress is poised to pass a bill that offers more business opportunities than costs.

As the city and state of New York are heavily dependent on the financial sector for revenue, it is hoping to position itself to capitalize on the potential federal opportunities. The commotion seems to be inspired not only by survival, but about helping the US shift toward national sustainability and keeping New York the financial capital of the world.

Indeed, the anticipation of a larger, federally regulated carbon market is the biggest driver behind the growing popularity of green finance, along with the support of the New York City Economic Development Corp. The notion that emissions trading and climate change related investments could potentially help revive Wall Street’s fortunes has corporations actively seeking how best to position New York’s financial community ahead of the game.

It appears the general advice is to stake a claim in the expanding US carbon market, now largely dominated by the voluntary Chicago Climate Exchange. New York has already missed out on the chance of becoming the center of market activity surrounding the Regional Greenhouse Gas Initiative (RGGI), the burgeoning cap-and-trade program involving ten Northeastern states and currently the nation’s only mandated carbon emissions trading scheme. A federal carbon market would dwarf RGGI and all other emissions trading initiatives.

Currently, most of the trading volume can be found at the Chicago Climate Exchange, Chicago Climate Futures Exchange, with some activity is growing at the Green Exchange (an initiative launched by the New York Mercantile Exchange). NYMEX’s Green Exchange is already a popular platform for trading in sulfur dioxide and nitrogen oxide pollution permits, so carbon markets could abundantly grow there. It will be interesting to see where the momentum drives the trends and the future.

It Makes Sense to Build Green – Part 5 of 6 (Materials & Resources) February 6, 2009

Materials and resources that go into the construction process are enormous and they generate massive amounts of waste. About 40 percent of the total waste stream in the United States is from construction and demolition. There is no doubt that there will be a demand for materials and resources during construction but how we go about acquiring those resources can greatly reduce the impact of building? Recycling is the foundation of this category; from using recycled material, to recycling project waste, to using existing buildings and resources.

The LEED system requires a building to facilitate space for all occupants to recycle. Employing this prerequisite in your building is easy and educating building occupants on waste management will help everyone understand the demand to make your building green. This category addresses the importance of extending a building’s life cycle, by reusing as much of a building a possible and by redirecting resources back to manufacturers and appropriate sites. The materials and resources section offers 13 possible points in 7 different credits. Using high percentages of existing buildings (around 95 percent of the existing structure) and diverting large amounts (around 75 percent) of construction waste to reusable sites will earn you maximum points in this credit section. Emphasis is also placed on using recycled material and content inside the building, assuming it is not finite raw material – those materials should be rapidly renewable, including compliant certified wood. Another great feature of this credit is the stress put on using local materials. Materials extracted, processed, and manufactured within 500 miles will earn you credit points.

Following this LEED section closely is important for your business but also your community. You can help stimulate your local economy by buying local recycled products, which is good for local commerce and increases the demand for all companies to recycle and consider the environment. Check out the previous posts on other sections of the LEED system.

Home and Office Gardens, and a little compost too! May 9, 2008

Is your thumb in need of some greening? Get in touch with your inner green by designing a small and simple garden for your home or office. Consider growing a few herbs and vegetables in that small plot in the yard or on the roof-top of your office building. Such a project can benefit involved individuals, function to build communities and connect all to their dependence on the environment through food.

A garden produces food, but the act of planting and maintaining a garden has green advantages besides local, homegrown veggies. The garden in your home or office can be a community-building activity that encourages environmental awareness. It is relaxing hobby as well as an educational tool. Your family or staff can work individually or collectively on the garden, which itself can convey a connection between ourselves and the environment. Also note that gardens can positively contribute to the LEED certification of a building (make sure they meet LEED requirements for greenroofs though!).

To begin your garden:

1. Determine location: This will most likely depend on what space you have available and what type of plants you’d like to grow. Don’t worry if only a partially shaded spot is available because many plants thrive in those conditions. To determine what plants will do best in what conditions, whether you have a place in mind or have a plant in mind first, simply look at the facts provided on seed packets or tags.

2. Check your soil: Measure the pH of the soil and determine the type of soil you are working with such as sandy, rocky or clay. Match these soil conditions with the plant specifics on tags or seed packets. Soils can be improved with organic matter like compost.

3. Prepare the plot by either smothering or removing the pre-existing grasses and weeds. Consider constructing a raised-bed if you are designing a garden on a roof-top or another place where ground space is not available.

4. Plant: The plants can be started from seed in small pots indoors and then transplanted or grown strictly outside depending on the local climate of your area. Water your plants thoroughly when first planted.

5. General maintenance: Water (about 1 inch a week unless it rains), weed, remove old blossoms and ripe fruit promptly, and undertake general maintenance on a regular basis.

While you’re at it, homemade compost would go quite nicely with a newly planted garden. Compost can add nutrients in the form of organic matter that improve soil quality. Make the food cycle in your home or office full-circle by producing food and then turning your food waste into nutritious compost for your garden. No, it doesn’t have to be smelly. Just keep a tupperware container in your kitchen in which you and your family or staff can throw food scraps. Food items that are best included in compost are uncooked foods and non-meat items. When full, simply empty the compost into a larger heap or enclosed bin. If the compost is warm (between 90-140 degrees F) and moist (40-60% moisture content) then food waste is being degraded efficiently. The decomposition process requires oxygen so turn or mix the pile on a regular basis. When decomposed, apply the compost to your garden. For more info, check out these sites: howtocompost and The Compost Guide.

Good luck with your garden and enjoy the fruits of your labor!

Saving the World One Meal at a Time April 9, 2008

As spring approaches and the ground thaws, people around the country are starting to dust off the grills, put out the patio furniture, and some of us are starting to think about what delicious things will soon fill our summer gardens. For those of us that are not planning on having a produce aisle in a sunny section of the yard, the next best thing is the farmers’ market. Farmers markets are great for several reasons. First of all, the food found in the local market is often as fresh as it is going to get and fresh always tastes better. Secondly, supporting the local farmers’ market is always a good idea because it helps to support the local economy (only about 4 out of every 10 dollars spent at a chain store remains in the local community, versus 7 out of 10 for local businesses).

In addition to tasting great and being good for the community, farmers’ markets are good for the environment. Chances are that the food found at your local farmers’ market did not travel any great distances, which helps to keep carbon emissions down and your carbon footprint small (admittedly, there is still debate over the efficiencies of all local production, but efficiencies have been found to exist in many cases, though there may be exceptions). In addition, because producers in farmers markets are generally small operations, they are less likely to use large scale applications of fertilizer, insecticide and other chemicals, which is always an environmental plus. Not to mention that one of the great things about local farmers’ markets is that you get to eat what likes to grow in your area. This is a good thing because it means that a smaller amount of fertilizer and extra energy input was required to make the plant grow, which keeps the overall environmental cost of the plant low.

Now that we can all agree that farmers markets are great, we can all sit back this coming spring and summer and enjoy our locally grown dinners or lunches while saving our wallets and helping the world. There are farmers markets all over the country. Check out one near you. Happy eating!

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Welcome! November 20, 2006

So many things to keep track of and so little time! If you’re trying to keep your indoor space healthy, help out Mother Earth, and save some money on occasion, you’ve come to the right place!

This blog is meant to give you bite-sized ideas on how to make your lifestyle more healthy and environmentally friendly. Change doesn’t come all at once, at least not in this case, unless you’re prepared to move to the other side of the world. Even then, you’d probably bring your habits with you, so that might not be the best idea. Applying one tip at a time makes it all more manageable and fun, so here we go!