October has been declared National Renewable Energy 401(k) Month at a conference being held in Denver today.
The 3rd Annual International Conference on Energy, Logistics and the Environment is sponsored by the Global Commerce Forum.
The Renewable Energy Initiative (TREI) helped organize panel presentations that will include human resources professionals and others who influence the decision to add targeted renewable energy funds to 401(k) plans.
One of the goals of the panels is to encourage companies across the country to add existing publicly traded renewable energy funds to the 401(k) choices of more than 50 million Americans.
An impressive 89% of Americans support increased wind and other forms
of renewable energy production (March 2010, Newhouse, Bennett poll).
Yet despite being the primary investment tool of more than 50 million
Americans (an estimated $7 billion is currently invested in 401(k) and
IRA plans), less than 1% of those plans and IRAs currently offer
Americans the opportunity to invest in renewable energy.
About $20
billion per year is being invested in new U.S. wind and solar
production. TREI Board member James Muchmore, a corporate securities
attorney with Patton Boggs LLP, notes the potential for swift new
growth: "Providing employees with the opportunity to invest in the fast
growing clean energy sector can generate a remarkable $350 billion in
new renewable energy investment over 4 years. This is a win-win for
business and the environment."
Large 401(k) plan providers and renewable energy companies will speak on the ease of adding a renewable fund choice to a plan.
Denise Kay, Esq., a TREI board member and legislative director for the Society of Human Resource Management (SHRM) sees this opportunity as having a double benefit: "Adding a renewable energy fund to the 401(k) plan is a solid way for companies to increase employee satisfaction and attract new customers."
In addition to demonstrating the availability and ease-of-use of the funds, showcasing renewable energy firms and the ways they use monies that are invested in them, is also a key focus.
Panelists from Akasha Energy and Main Street Power will discuss how renewable energy technologies are cost effective revenue generators and strengthen America’s National Security.
The Renewable Energy Initiative (TREI) is an educational non-profit organization that works to strengthen the American economy, create clean energy jobs, and build a healthy environment by increasing renewable energy production, use, and investment. Their mission is to empower organizations and individuals to create a Clean Energy Future through education, public outreach and research activities.
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