Environmental Issues Create New Opportunities

As interest grows in carbon neutrality, so do potential opportunities for professionals in commercial real estate and related industries. Just this month, Bank of America Corp. Chief Executive Kenneth Lewis announced BofA is establishing a team to identify and finance “the best new ideas in the green economy.” That includes working with the Chicago Board of Trade to develop carbon-trading markets in the US and installing green technology in 3,200 banking centers.

Supporters of carbon neutrality say businesses and individuals can easily reduce their net climate impact. All they have to do is balance carbon emissions against the purchase of credits in environmentally friendly activities. Although the concept has its critics–including some who dispute the science–there’s no disagreement that carbon neutrality is politically correct to embrace.

When asked about his company’s pledge to become carbon neutral by 2012, Brett White, president and chief executive officer of CB Richard Ellis, put it like this: “Our decision is driven by our desire to do the right thing, but it is also a direct result of a rapidly evolving marketplace. A large number of our clients, both property owners and occupiers, are already actively working to reduce energy costs and create greener space.”