While governments continue to fiddle about environmental action amid the growing evidence of the dangers of climate change, private enterprise is preparing to make profits.

Citigroup wealth managers are starting to push their investors towards companies and projects that focus on climate change and infrastructures.

In a wide ranging briefing Edward Kerschner, Chief Investment Strategist for Citi Global Wealth Management, said that his firm has identified a number of solid investments in both areas.

In climate change Kerschner proposed that companies dealing with nuclear power and water management would be sound investment opportunities for the future.

“We’re going to see a nuclear renaissance … Nuclear is going to be a big part of a world that is going to want to be more environmentally friendly,” he said.

Citigroup feels that water is fast becoming an increasingly scare resource and companies involved in cleaning up water sources like polluted rivers and lakes or who provide desalination technology would make good investments.

Citi has prepared a “Climatic Consequences Companies” index which comprises 111 companies across 24 industries in 28 countries who they feel are well positioned to profit from climate change.

The other major theme that Kerschner addressed was infrastructure needs.

Developed nations are looking to replace their aging infrastructural systems while emerging economies are seeking construction to meet their growing needs.

China alone is going to spend up to 500 billion US dollars in the next 30 years on road and rail projects.

Citi has identified 39 companies that either build, operate or own infrastructure assets who can be beneficiaries of global infrastructure growth.

Citi is also saying that investors like insurers and pension funds could benefit from climate change focused companies either through buying direct shares or participating in equity for public-private projects.

“Maybe instead of bonds then you can collect a yuan from every car that drives on a Chinese toll road?” suggested Kerschner.