Money world

Democratic presidential candidate Barack Obama could take longer to implement environmental policies than Republican rival John McCain, but he will be greener in the long run, a renewable fund manager said.

Portfolio manager Gunter Greiner, who manages a 5 million euro ($7.86 million) fund, said a change of governing party in the United States could mean policymaking decisions slow down, but that investors in the renewables sector should be patient.

“The funny thing is that although Obama will be a better bet for green energy, it could be the other way around at the beginning,” Greiner, who runs the VCH New Energy Fund, told Reuters on Wednesday.

“If Obama comes to office, every green energy and carbon strategy will be looked through very carefully and it will take time until decisions are made. If it’s McCain, the transition will be smoother and there will be less stalling,” he said.

Both candidates have endorsed emissions trading to fight global warming payday loans. McCain, with independent Senator Joe Lieberman, introduced one of the first U.S. climate bills in 2003.

Either candidate would be a vast improvement on President George W. Bush in terms of renewable energy, Greiner added.

It is Germany which has led the boom in the sector, offering state subsidies to help curb carbon dioxide emissions.

However Germany will scale back subsidies from next year. Greiner’s fund therefore favors solar companies which specialize in rooftop installations and is less keen on solar park installers. “People will still build solar parks but maybe not with the same returns that we are seeing now,” he said. 

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