Future investors in Israeli businesses may be able to judge a company by its green record. According to the Jerusalem Post, last week the Environmental Protection Ministry, financial groups, the European Commission green and the green umbrella organization Life and the Environment, got together to hash over a green metric system.
Opinion writer Asher Meir noted a few potential pitfalls – how can the environmental parameters ensure accuracy, how much will it cost, and who will keep tabs on smaller companies?
But the Environmental Protection Ministry published an enthusiastic statement ahead of the conference. It looked at the Carmel Chemical company, whose environmental record was so bad that the Ministry revoked its hazardous materials permit. If polluting companies are put on an environmental blacklist, then they won’t get the funding necessary to operate, and the state will save on future cleanup costs.
One big winner from a green metric could be Israel’s cleantech industry, which includes irrigation technology, solar energy and even green flame retardants. Starting these companies depends on foreign investors, like the delegation that came in May from California. Bearing in mind Meir’s warnings, this project could give the local green industry a time to shine.
:: Photo from Frogandprincess