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October 22, 2002
WRI Promotes Sustainable Business in China
by William Baue
The World Resources Institute has launched a project that will support green business initiatives
in China.
SocialFunds.com --
Earlier this month, the World Resources
Institute (WRI) launched the New
Ventures China project. The project provides funding to sustainable business initiatives in
the areas of organic agriculture, renewable energy, and clean technology. WRI cites several
reasons why sustainability critically important in China. The Chinese economy serves a vast
population of 1.3 billion and has grown, on average, by more than ten percent annually over the
last quarter century. Economic activity to support this growth has pillaged China's natural
resources and damaged its environment.
"Growth in production that is both profitable and
clean is a necessity for China," said WRI President Jonathan Lash. "Through WRI's New Ventures
project, we hope to connect capital to outstanding investment opportunities that will generate
social and environmental benefits."
WRI is a Washington, DC-based environmental policy
research organization that initiated the New Ventures project three years ago in Latin America.
New Ventures connects environmental entrepreneurs with investors in order to accelerate the
transfer of capital to investments that incorporate social and environmental benefits. Seven Latin
American projects have received a total of $4.4 million, with another $3.4 million currently under
negotiation. For the New Ventures China project, WRI partnered with Leadership for Environment and
Development (LEAD) International, an independent nonprofit that promotes sustainable development.
Citigroup (ticker: C) is sponsoring
the project.
"As one of the world's most attractive investment destinations, we want to
help China's sustainable business entrepreneurs find the investments they need," said New Ventures
Project Director Luiz Ros. "Economic prosperity should not necessarily mean environmental
degradation--in fact, investing in sustainable enterprises makes good business sense."
Entrepreneurs from Beijing, Guangdong, Shandong, Henan, Jiangsu, Zhejiang, and Heilongjiang
will be submitting their business plans for consideration. New Ventures China will award
professional consulting services to the most promising business plans in the three sectors of
organic agriculture, renewable energy, and clean technology. A New Ventures Forum will be held
next year in China, where interested investors will meet with the chosen enterprises.
The
New Ventures China project represents an important opportunity for social investors who have
expressed concern about human rights and the environmental situation in China. It may well be a
rare opportunity to promote a brand of capitalism that supports worker rights as well as
environmental protection.
©
SRI World Group, Inc. All Rights Reserved.
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