This column highlights the top economic stories of the week.

While Detroit has benefited from Cash for Clunkers, foreign automakers have gained even more. Some critics of the program warned that because it let consumers buy domestic or foreign cars, Clunkers could end up spending more American tax dollars to help foreign companies than American ones. More on this story here.

With irresponsible banking practices taking the blame for bringing about the global economic crisis, there has been a surge of interest in Islamic finance.Now, a slew of academic courses are springing up to meet the demand of those wanting to break into an expanding market. According to ratings agency Moody’s, the global Islamic finance sector is worth $700 billion and has the potential to be worth $4 trillion. More on this story here.

n an effort to curb solid waste pollution, China banned the import of scrap polysilicon at the beginning of August, an effort supported by its current environmental laws according to its Environmental Protection Ministry. Scrap polysilicon is a low-grade form of silicon not pure enough to use in microchips. However, it can be used as a component of solar wafers, which contain a variety of types of silicon, including up to 30% scrap polysilicon. More on this story here.

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To help us wade through all the green hyperbole, a growing list of sustainability ranking projects has emerged including the Princeton Review Green Honor Roll, the College Sustainability Report Card, and the Sierra Club’s just-released Cool Schools ranking. Each of the guides uses a different methodology but all of were helpful when formulating the following compilation of the top green colleges and universities in the United States.

Recognizing that defining the word ‘green’ can be problematic in its own right and that there are tons of colleges doing really great things in terms of sustainability, this list is certainly incomplete and/or inexact. Think we missed something? Have an example of campus sustainability that needs to be told? Tell the world in the comments section. In alphabetical order:

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As it stands, most vehicles in the world right now run on one of two fuels: gasoline, or diesel. While they perform the same function, and on the outside the engines look the same, they work in very different ways. While diesels have made progress in becoming cleaner burning, gasoline cars still dominate America’s highways.

But what might happen if someone mixed these two fuels up in the same engine? According to a research group from the University of Wisconsin, Madison, the engine not only becomes more thermally efficient but cleaner burning, too.

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Don’t look now, but the U.S. Defense Department is backing an academic program that may ultimately offer long-term aid in the area of resource conservation. The Cleveland Plain Dealer reported on Tuesday that the University of Akron, with the help of a $2.3 million Defense Department grant, has begun laying the groundwork for an engineering program aimed at the understanding and prevention of corrosion, a pervasive blight eating away at our domestic infrastructure at an estimated rate of $400 billion per year.

The Defense Department spends upwards of $22 billion a year (1/3 of their maintenance costs) on reigning in the degrading effects of corrosion. Dan Dunmire, director of the department’s Office of Corrosion Policy and Oversight, says the problem has created “almost a sense of crisis.”

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Oceans cover close to 70 percent of the earth’s surface. They divide continents and peoples. They are dangerous, swallowing unwary explorers in their great depths. But the danger of the unknown ocean hasn’t stopped sailors in all ages from exploring the treasures that await across the vast blue expanse. With compass in hand and constellation above as guides, brave seamen would embark, never knowing if they would return alive.

In the modern world, oceans, seas, lakes and other bodies of water are generally mapped. There is less adventure on the high seas than there was during Columbus’ time. Now there are new oceans to be explored, understood, and charted. These oceans are not expanses of water; rather, they are expanses of knowledge, technology, and science. In order to explore the great unknown of these oceans, we sail toward the uncharted and the unknown.

The UN has embarked on such an adventure. The treasure buried at the edge of the known world is not gold, silver or precious stones but climate neutrality. And aboard the UN ship are six universities from around the world.

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But for Montana State University students, this seemingly implausible scenario is the real deal.  Last month at the launch of the spring semester, MSU unveiled the brand-new Sustainable Food and Bioenergy Systems undergraduate degree program.

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How many colleges and universities are participating in the 2009 Recyclemania? 510

College sports fans will likely say “That’s not an accurate comparison, Jeff.” They’re probably right… but, the question remains: Have you ever heard of Recyclemania?

I hadn’t until checking my feed reader today.  Apparently, I’m not alone: I checked most of the other big green blogs, and found nary a mention in any posts. There was one passing mention of it on Ecolocalizer, but it was far from the focus of the post.

Now, I don’t bring up this lack of coverage (at least within the green web) to criticize anyone, but rather to express my amazement — this thing’s huge! Founded in 2001 “as a friendly challenge between recycling coordinators at two schools in Ohio, Miami University and Ohio University,” Recyclemania now coordinates participating colleges and universities from all 50 US states, the District of Columbia, and, for the first time, schools from outside the United States.

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Earlier this week, Governor Arnold Schwarzenegger continued to show a commitment to renewable energy, announcing that the entire California State University system – the largest system of higher education in the nation – will install solar at 15 campuses, including CSU Los Angeles. And, fortunately for taxpayers, it won’t cost us a dime.

Partnering with SunEdison under a power-purchase agreement allows CSU to buy renewable power at or below retail rates, while avoiding the cost of the system’s installation. SunEdison takes on that burden, along with those of operating and maintaining the panels for 20 years.

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Instead of a standard fuel tank, the ENV (short for Emissions Neutral Vehicle) contains an onboard fuel cell that can be filled with hydrogen in just three minutes. The cell then converts the hydrogen to electricity, enabling speeds of over 50 mph, and a range of 100 miles, with no emissions except warm air and water.

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But thanks to the National Wildlife Federation’s just released Campus Environment 2008 report card, conducted in partnership with Princeton Survey Research Associates International, we can at least be certain that, in addition to learning about beer and the opposite sex, our college students are getting a lesson in green.

The report follows up on its first run, back in 2001, by providing a review of programs at 1,068 institutions, grading them on an A to D scale for collective, national performance on a range of issues such as energy, water, transportation, waste reduction and environmental literacy.

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Students at Sarah Lawrence’s Warren Green Hall will this fall be composting together, monitoring their electricity usage and drying their dirty laundry on a clothesline. They’ll be sharing appliances, cooking and shopping together too, to reduce waste and energy, and using the electric light as little as possible.

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This university has a special program, called the Nelson Mandela extranet. In this program, Students go back to their communities and teach them about HIV/AIDS , bio-intensive farming, and money management. Remembering your ancestors and going back to the community to raise the consciousness level of the society is a fundamental principle of ethical leadership.

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Two soybean growers’ groups have suspended $1.5 million in funding from the University of Minnesota, due to research showing that biofuels could worsen global warming:

The study, by University of Minnesota ecologist David Tilman and others, said that dedicating huge amounts of land to grow corn, soybeans, sugarcane and other food crops for fuel could drastically change the landscape and worsen global warming. Farmers in the U.S., Brazil, Indonesia and other countries will need to clear forests, grasslands and peat lands on a massive scale to grow more of those crops, according to the research, unleashing far more carbon dioxide from natural vegetation than is saved by the lower emissions of the biofuels.

Is anyone really surprised about this finding? Suspension of the funds appears to be only temporary, until the groups have a chance to meet with the Dean of agricultural science. Jim Palmer, the executive director of the two soybean groups, summed up the situation: “The university hurt the farmers’ feelings, OK? That’s probably the best way to say it.”

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Last week, I ran across an article from the Washington University Record noting that it, along with 89 other institutions, was participating in the pilot stage of the Association for the Advancement of Sustainability in Higher Education’s Sustainability Tracking, Assessment and Rating System (STARS). The pilot represents the start of “a collaborative process to develop a campus sustainability rating system” with the following goals:

1. Provide a guide for advancing sustainability in all sectors of higher education, from governance and operations to academics and community engagement.
2. Enable meaningful comparisons over time and across institutions by establishing a common standard of measurement for sustainability in higher education.
3. Create incentives for continuous improvement toward sustainability.
4. Facilitate information sharing about higher education sustainability practices and performance.
5. Build a stronger, more diverse campus sustainability community and promote a comprehensive understanding of sustainability that includes its social, economic and environmental dimensions.

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The Arava Institute plans to show the world that lasting peace can be achieved by working together to solve shared environmental issues. They are training Israeli and Palestinian youth leaders to find collaborative solutions to environmental issues that afflict both peoples. The result, they hope, will be a sustained peace through cooperation.

But in one of the most conflict-ridden regions of the world, what chance does the institute had in promoting peace through environmental studies? Just read the experiences of one Jordanian alumnus named Zein and judge for yourself.

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