Global Warming - Is it the cool thing now ?

Global warming has been a subject of intense debate in recent years. While the enviromentalists have accused businesses/governments of not paying heed to this burning issue, businesses have called the enviros as hyper and alarmist.Can the Green costs be reclaimed from the consumers so that businesses can justify the costs ?

The Economist writes why a growing number of firms are taking global warming seriously now.
"The army of corporate greens is growing fast. Late last year HSBC became the first big bank to announce that it was carbon-neutral, joining other financial institutions, including Swiss Re, a reinsurer, and Goldman Sachs, an investment bank, in waging war on climate-warming gases (of which carbon dioxide is the main culprit). Last year General Electric (GE), an industrial powerhouse, launched its “Ecomagination” strategy, aiming to cut its output of greenhouse gases and to invest heavily in clean (ie, carbon-free) technologies. In October Wal-Mart announced a series of environmental schemes, including doubling the fuel-efficiency of its fleet of vehicles within a decade. Tesco and Sainsbury, two of Britain's biggest retailers, are competing fiercely to be the greenest.

The recent high price of oil and natural gas, allied to fears over the security of energy supplies from the Middle East and Russia—neither of which have anything to do with climate change—may be the main reason why many firms have recently become interested in alternative energy sources. But at the same time, a growing number of bosses—whatever their personal views about the scientific evidence of climate change—now think that the public has become convinced that global warming is for real.

A recent study by the Carbon Trust, a British quango, reckoned that, for industries such as airlines, up to 50% of brand value may be at risk if firms fail to take action on climate change. This figure is challenged by many in the industry who point to the low take-up of British Airways' service enabling passengers to offset their flight's carbon emissions. And there's the rub. A growing number of companies—urged on by shareholders who see greenery as a sign that managers are thinking long-term—are ready to do something about climate change. It remains to be seen whether their customers are willing to pay the price."