By Traci Hukill
AlterNet.org
Tuesday 03 January 2006
One of the world's leading investment banks concedes there are real financial costs to ignoring the environment - and they don't intend to get stuck paying them.
Last year the investment bank Goldman Sachs acquired a portfolio of mortgages in default that involved a remarkable piece of land in Tierra del Fuego, Chile. The wild, starkly beautiful island on the far tip of South America is a haven of biodiversity, home to old-growth beech forests and a unique network of peat bogs. So when the bank donated all 680,000 acres of the property - an area about a third the size of Yellowstone - to the Wildlife Conservation Society in trust to the people of Chile, it was a boon to ecological preservation.
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http://www.truthout.org/issues_06/010306EB.shtml