I met Amy Larkin, Director of Greenpeace Solutions yesterday who alerted me to a wonderful resource called Earth Trek.
Ms. Larkin attended Fortune's Brainstorm Green, along with movers and shakers in the environmental
movement. Over the past two years, the movement morphed into a plethora of white men in starched shirts and polished shoes.
I feel fortunate to have been invited.
The solar panel I attended (more later) had 39 polished white men, and 11 polished white women in attendance. While content is more important than the color of ones skin or gender, I found this fact interesting since so many passionate environmental pioneers are women of many colors.
Anyway...
Earth Track is the "baby" of Mr. Doug Koplow of Greenpeace. It's a marvelous tool that tracks government subsidies to industries that ultimately hurt our environment.
Over 85% of federal fiscal subsidies support unsustainable energy resources.
Obviously, capital investments need to be transformed to facilitate meaningful climate change.
The organizers at Fortune's Brainstorm Green must have realized this, too, for they had a wonderful panel of bankers discussing Wall Street's policy on climate change.
Richard Cohen of Bank of America spoke about the $20 million B of A committed to environmental stewardship and investing.
Rick Lazio of JP Morgan Chase spoke of offsetting employee travel, energy efficiency and building headquarters to meet platinum LEED building standards.
Ted Roosevelt at Lehman Bros. spoke of going green as a recruitment tool to attract savvy employees. Now they're figuring out how to transform their night-time limos into hybrids. Most likely they'll subsidize those individual-owned limo drivers.
Mark Terek of Goldman Sachs impressed me when he spoke of a logging company in Patagonia that went belly-up, and Goldmann Sachs saved the day and land, by turning the land into a Nature Preserve.
In 2005 Sachs created an environmental policy, and as I listened, I felt positive, uplifted, absorbed. And then it got even better.
Michael Brune of Rainforest Action Network asked the panel a question, and cut the air with the knife of truth.
"How many coal-powered plants can you finance? It's more important what you're not doing. Bank of America, 4% of your portfolio is in renewable energy. 96% is going to status quo investments. Say no to coal and making marginal investments in renewables."
To which a banker replied,
"It doesn't seem that it's our responsibility to decide about coal. We're beholden to stock holders."
Coal is the biggest nemesis toward good environmental stewardship and cooling the planet.
Once again, I wondered:
Where does ethics step in along the supply chain, which, in my opinion includes financing. Would you give your kid money to hurt others?
To paraphrase the rest of the banker's comments and my scribble, the bankers decided that climate change is important but they shouldn't get too involved. (I think we all should) That's for industries to decide and represent themselves. If we take sides in a fight, we will doom climate change. (I think if bankers finance whomever without discernment we're all doomed. Look what happened in housing.)
Fortune reporter Adam Lashinsky did a fine job moderating the Wall Street panel, and, as such, deflected the heated discussion, and politely ended,
"We've made progress but don't have all the answers."
I'll add Greenpeace has many answers, which we can access at www.earthtrack.net
I'm headed back to conference now but before I go, I wrote a piece about ethics, climate change, and The Economist that I'd like you to read.
We all need to take responsibility, and stop passing the buck. Read more here.

