Milton Financials: Clean energy funds not waiting on climate talks.

Oct. 12, 2010 - PRLog -- At the recent Global Climate and Alternative Energy Summit, clean energy fund managers told sources known to Milton Financials that it was no longer feasible for green investors to wait t on the decisions of the UN climate change discussions for guidance.

"Nothing I am investing in makes me worry about any of those kind of conversations," Richard Nourse, a managing partner of the $277.9 million Novusmodus fund told the summit.


"If I waited around for what happens there I would never make an investment. You have to invest on what is there now, not on what you anticipate the legislation to be."

The Novusmodus fund was set up by the Irish utility ESB in order to provide capital to firms and projects in the renewable energy and energy efficiency sectors.

The fund, Milton Financials was told, intends investing up to 30%of its capital into Irish firms or projects, but until now its focus has been almost entirely on offshore wind projects and efficient lighting in the UK and Europe.

To date, the United Nations climate change discussions have failed to produce a legally binding pact with binding emissions cut targets, with the most recent round of negotiations in the Chinese city of Tianjin failing to dispel fears that the process may yet end in a deadlock.

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