Commentary: Protecting environment requires coordinated effort

06/6/2008 | Financial Times (free content)

When the oil industry in the U.S. began 150 years ago, the government played only a small role and instead let the markets dictate its development. Ken Lewis, chairman and chief executive of Bank of America, writes that the focus on building a "green economy" requires a coordinated effort between private and public entities. "Our desire to balance economic growth with protection of our climate, to reduce our dependence on global oil markets and to account for the long-term costs fossil fuels impose on our economy requires action not only from the private sector but from policymakers as well," Mr. Lewis writes.

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