NEW YORK, Feb 28 (Reuters) - Lehman Brothers Holdings Inc. <LEH.N> said on Wednesday it had named Theodore Roosevelt IV, a great-grandson of U.S. President Theodore Roosevelt, as chairman of its global council on climate change.

Chairman and chief executive Richard Fuld said that global warming is "an area where we cannot afford to be wrong."

The firm can gather insights from its clients globally and help facilitate constructive dialogue, Fuld said in a statement.

If trading volume in emissions credits and other environmental products increases, Wall Street firms stand to make millions of dollars.

Lehman's climate council plans to put together summits and seminars, Lehman said.

Lehman Brothers was part of a coalition of ten major companies pressing President George W. Bush and Congress to address climate change more rapidly. That coalition also included Alcoa Inc.<AA.N>, General Electric Co.<GE.N>, DuPont Co.<DD.N> and Duke Energy Corp. <DUK.N>

Roosevelt joined Lehman in 1972 as a member of the senior client coverage group.

His great-grandfather, president from 1901 to 1909, is often described as the first conservationist U.S. president.

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