Ever since I started writing about The Social Age, it seems like every corner I turn, every article I read, every radio show I listen to, is addressing, in some way, and issue indicating that The Social Age is upon us. Today was no different.

Today Citigroup, the largest U.S. bank, announced that it will direct $50 billion over a 10-year period toward addressing global climate change trouncing rival Bank of America who last year dedicated $20 billion to a similar purpose. Now THAT’s the kind of competition I like to see. When big business becomes interested in solving the worlds problems, it means big money, and hopefully big returns — both financial and, in this case, environmental.

The International Herald Tribune writes that Charles Prince, chairman and chief executive of the bank, said that the bank’s presence in more than 100 countries put it in “a unique position” to deal with global issues. And putting their money where their mouth is, Citigroup plans to increase funding for reducing its own greenhouse gas emissions by $9 billion bringing their comittment to cleaning up their own act to $10 billion.

Citigroup also plans to bring together leaders from the corporate, political, regulatory and advisory arenas to discuss climate issues at a conference this June. It finally feels like something big is happening!

Commenting on Citigroup’s comittment, CEO Prince said that the bank’s program was “not a wish list, but a realistic, achievable plan that serves a critical global need and responds to an emerging investment opportunity.”

Perhaps one of the most important aspects of The Social Age is that it is about economic as well a social prosperity. There is not a single problem in the world that can’t be solved through innovation, technology, passion, focus and money. With the focus solidly on the environment now, investors are looking to make money in the Climate Economy (ok, I just made that one up, but I kind of like it!)

I couldn’t be happier. When the dollars start flowing in the direction of positive social change, it is good for all of us.

NPR did a story on the Citigroup announcement. You can listen to it on NPR.org