Wind Wire: Major bank looks hard at renewables

CANADA: One of Canada's major chartered banks is growing its involvement in the renewable energy sector, saying the time is right to reach out to the marketplace.

The Canadian Imperial Bank of Commerce (CIBC), the country's fifth-largest bank, has created a new post of vice-chair to oversee investing in renewable energy and clean technology in North America. "Governments across the continent are drafting and enacting legislation to create new opportunities for green technologies," says Richard Nesbitt, CEO of CIBC's wholesale banking division. "Many Canadian companies are emerging as leaders in the sector and will need increased access to capital."

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