Environmental Finance
online news
News
Features
Subscribe
Conferences
Advertising
Bookshop
Archive
Reporting
About
home
Climate Change: Emissions: Weather: Investment: Lending: Insurance
 
 

Online News – New from Environmental Finance Publications
Sign up to receive this weekly news service direct to your inbox

 

Online News

Mixed welcome for Copenhagen Accord pledges (from Carbon Finance)
4 February: Carbon market participants have given a mixed reception to the proposed emissions cuts and mitigation actions pledged under the Copenhagen Accord. More...

 

Obama ups renewables funding, cuts fossil subsidies
4 February: Clean energy was a winner in US President Barack Obama’s proposed budget, with major funding increases despite his pledge to control spending. More...

 

Analysts applaud Shell’s Cosan biofuels bet
4 February: Investment analysts have responded positively to Shell’s planned $12 billion joint venture with Brazilian ethanol giant Cosan, predicting it could help push Brazilian ethanol into world markets. More...

 

Infrastructure investors needed to meet renewables targets
4 February: Pension funds and insurance companies must raise their investments in clean energy infrastructure if the EU is going to have a chance of meeting its targets for renewable energy capacity and carbon reduction, a panel of investors said this week. More...

 

EU to fund carbon capture with 300m emissions allowances
4 February: EU member states have agreed to distribute 300 million carbon allowances from the bloc’s emissions trading scheme to fund renewable energy and carbon capture and storage projects from 2013. More...

 

Review finds mixed progress on Climate Principles
4 February: The five financial institutions which founded the Climate Principles have further to go in integrating climate analysis into their operations, according to an independent review of their progress. More...

 

Hopes build for US Green Bank
4 February: A proposed ‘Green Bank’ to help finance renewable energy projects in the US may get a boost from an unexpected source: a series of jobs bills aimed at lowering the nation’s stubbornly high unemployment rate. More...

 

UK introduces feed-in tariff for small-scale renewables
4 February: UK householders, businesses and communities which install small-scale renewables will, from April, earn a feed-in tariff. More...

 

Innovest’s Kiernan unveils new venture
4 February: Sustainable investment pioneer Matthew Kiernan is launching an asset management company, Inflexion Point Capital Management, in partnership with Legg Mason and Phoenix Global Advisers. More...

 

CelsiusPro covers weather risk for Nikon camera promotion
4 February: CelsiusPro, an online seller of weather risk management products, has struck a deal that will see camera buyers in Switzerland get a full rebate on their purchase if the weather is bad over the Easter holiday. More...

 

SEC tells US firms to disclose climate risks
28 January: After substantial prodding from investor advocates, the US Securities and Exchange Commission will provide guidance to companies about what they must tell their investors about climate risks and opportunities. More...

 

US adds record-breaking wind capacity in 2009
28 January: Almost 10GW of wind energy capacity was added last year in the US, according to figures from the American Wind Energy Association, breaking all records – and despite the global economic strife in 2009. More...

 

Japan, Australia stick to targets as Copenhagen Accord deadline looms (from Carbon Finance)
28 January: The governments of Japan and Australia yesterday confirmed that they would stick with their existing 2020 emission reduction targets, with just four days until a 31 January deadline to submit goals under the Copenhagen Accord. More...

 

Australian real estate funds, firms lead green rankings
28 January: Most real estate funds and companies are not yet actively managing their environmental impacts, according to a report commissioned by three European institutional investors. More...

 

Hermes makes first close on UK clean-tech fund
28 January: The UK government’s clean-tech private equity fund achieved its first close at £125 million ($202 million) on Tuesday. More...

 

UK biofuel suppliers fall short of sustainability targets
28 January: Several major suppliers of transport fuel in the UK failed to meet the sustainability criteria for biofuels in the first year of the government’s pioneering Renewable Transport Fuel Obligation.  More...

 

Nikko to launch green bond fund in Japan
28 January: Nikko Asset Management has developed a fund for the Japanese retail market that will invest mainly in ‘green’ bonds issued by the World Bank. More...

 

Earth Capital Partners hires sustainable ag, forestry team
28 January: Earth Capital Partners has hired a three-strong sustainable forestry and agriculture team, in advance of the launch of a suite of funds. More...

 

Maplecroft launches US climate indexes
28 January: Risk analysis firm Maplecroft has launched a family of indexes to track climate-related innovation and carbon management at some of the biggest companies in the US. More...

 

German ministers reach consensus on solar tariff cuts
21 January: Key German government ministers have agreed to make double digit cuts to solar feed-in tariffs, to the dismay of the German solar industry. More...

 

Deutsche Bank and Masdar clean-tech fund raises $265m
21 January: Deutsche Bank and Masdar have raised $265 million in the first close of their clean-tech private equity fund. More...

 

Copenhagen created ‘right ingredients’ for climate agreement (from Carbon Finance)
21 January: UN climate chief Yvo de Boer has admitted that December’s conference in Copenhagen was not a success, but said that “cool heads” are seeing it as a way to reach an international agreement on climate change. More...

 

World Bank selling ‘green’ bonds to Japanese investors
21 January: The World Bank is aiming to raise some $110 million to finance low-carbon development through a five-year 'green' bond currently being marketed to Japanese retail investors. More...

 

US will lose clean-tech dollars without climate plan
21 January: Countries such as the US that fail to adopt concrete climate plans risk losing the race for clean energy dollars to the emerging markets, investors said. More...

 

Climate policies ‘generating returns for investors’ – Deutsche Bank
21 January: Tilting investment portfolios towards companies offering solutions to climate change is already generating outperformance for investors, and will continue to do so, regardless of the disappointing outcome of the Copenhagen climate talks, according to Deutsche Bank. More...

 

Middle East ESG index finally to be launched this year
21 January: The first environmental, social and governance index of Middle Eastern and North African companies is due to be launched later this year – two years after it was first announced. More...

 

UK’s Miliband ‘confident’ of binding climate pact in Mexico
14 January: UN talks in Mexico at the end of this year are likely to produce the legally binding climate change treaty that eluded negotiators in Copenhagen, according to the UK’s climate change secretary of state. More...

 

Commission’s environment, energy picks please MEPs
14 January: The transition to a sustainable economy must be at the heart of all EU policies, said EU environment commissioner-designate Janez Potočnik during a three-hour grilling yesterday by the European Parliament’s environment committee. More...

 

Financing questions for UK’s gargantuan offshore wind plan
14 January: A potential 32GW of offshore wind capacity could be developed in the UK after the government granted rights to nine coastal zones – but questions remain over how these projects will be financed. More...

 

US government awards $2.3bn for clean energy manufacturing
14 January: US federal agencies have awarded $2.3 billion in tax credits for clean energy manufacturing projects in a move designed to spur a major push in renewable energy development. More...

 

Beetle Capital plans fixed income ‘natural capital’ product
14 January: A new asset manager established by a founder of Climate Change Capital is planning a fixed income fund as its first sustainable investment product pursuing a “natural capital” theme. More...

 

Renewables targets, ‘Green Bank’ likely if cap and trade fails
14 January: If climate legislation stalls in the US Congress this year, lawmakers will likely move forward with an energy bill that includes a federal renewable portfolio standard and a 'Green Bank' to help finance renewable energy projects, according to law firm Van Ness Feldman’s 2010 outlook. More...

 

Proposed ISO criteria get cool response from bioenergy sector
14 January: European bioenergy organisations have expressed concerns about plans by the International Organization for Standardization for a new standard to address sustainability issues linked to bioenergy. More...

 

Fortis mulls carbon fund refocus (from Carbon Finance)
14 January: Fortis Bank Netherlands is considering changing the focus of its planned carbon fund, Carbon Finance has learned. More...

 

Experts split on significance of China’s new green energy law
7 January: Renewable energy specialists in China have questioned the significance of a recent amendment to the country’s 2006 Renewable Energy Law, saying it will have little, if any, effect on renewable energy companies on the ground. More...

 

Copenhagen likely to slow low-carbon investment – investors
7 January: The disappointing outcome of the Copenhagen talks last month is likely to discourage some investors from committing to low-carbon investments, leading investors have conceded – despite likely progress on national and regional efforts to promote alternative energy technologies. More...

 

Clean-tech investors favoured energy efficiency in 2009
7 January: Clean technology investors ploughed money into the energy efficiency, transportation and power storage sectors in 2009, at the expense of more traditional renewable energy technologies such as solar and wind, according to end-of-year reports from two analysis firms. More...

 

Analysts predict upwards path for carbon prices in 2010 (from Carbon Finance)
7 January: Carbon prices will be weak in January and February as industrial emitters sell surplus EU allowances from 2009, analysts predict. More...

 

Almost half of asset managers ignoring climate – Ceres
7 January: An alarmingly high number of asset managers are ignoring the risks posed by climate change in their investment decision-making, according to a report by Ceres. More...

 

Invest in wind stocks, avoid solar, says Jefferies
7 January: Investors should avoid the solar sector in the early part of this year, according to equity analysts at investment bank Jefferies International, but wind energy companies may be a good bet as orders are expected to surge. More...

 

OPIC to slash portfolio emissions 50%
7 January: The US has introduced legislation requiring the Overseas Private Investment Corporation to slash greenhouse gas emissions from the projects it invests in by 50% over the next 15 years. More...

 

Climate change worsening natural catastrophe rate – Munich Re
7 January Losses from natural catastrophes were dramatically lower in 2009 than the previous year, owing mainly to a benign North American hurricane season, according to Munich Re. More...

 

Carbon market lobby group appoints new director
7 January: The Carbon Markets & Investors Association has appointed Miles Austin as its new director, effective on 1 February. More...

 

Voting open in the EF voluntary carbon market survey
17 December: Voting has opened in the Environmental Finance survey of the voluntary carbon markets. More...

 

Political posturing rises as Copenhagen talks near end
17 December: Politicians are upping the rhetoric as the UN climate talks in Copenhagen approach their conclusion tomorrow, led by US Secretary of State Hillary Clinton, who today endorsed proposals for $100 billion a year of funding for climate change adaptation and mitigation in developing countries, by 2020. More...

 

Cat bonds to beat 2008 issuance this year – Swiss Re
17 December: The value of catastrophe bonds sold this year is likely to top 2008’s total, according to leading sponsor Swiss Re – a strong recovery for a market that stalled completely after the financial crisis. More...

 

World Bank sets aside $750m for solar in North Africa, Middle East
17 December: Eleven concentrated solar projects in the Middle East and North Africa are set to receive $750 million from the World Bank, which it said could help unlock a further $4.85 billion in financing from other sources. More...

 

US promotes caps, and some trade, for fish stocks
17 December: A US government policy may encourage wider adoption of programmes to curtail overfishing, some of which will have trading mechanisms. More...

 

US sulphur emissions continue their fall
17 December: US sulphur dioxide emissions continued their sharp decline last year, according to the US Environmental Protection Agency. More...

 

Shareholders moving behind TEP, Leaf merger
17 December: Another listed carbon trader could be set to disappear, with investors representing a majority of shares in Trading Emissions Plc and Leaf Clean Energy backing management plans for a merger. More...

 

Impax unveils US distribution deal and new funds
17 December: UK-based environmental investor Impax Asset Management has announced a distribution agreement with Milwaukee-based Titanium Asset Management, and two funds aimed at the US market. More...

 

December-January issue of Environmental Finance out now
17 December: The latest issue of Environmental Finance is now available, featuring the results of our 2009 market survey. More...

 

Soros proposes $100bn climate fund
10 December: Billionaire financier George Soros has proposed that developed countries create a $100 billion climate fund, drawn down from existing currency reserves, to kick-start forestry and land-use projects in developing countries. More...

 

De Boer plays down Danish text, as climate talks turn tough (from Carbon Finance)
10 December: The UN’s climate chief has downplayed a draft negotiating text, from the Danish hosts of this week’s climate talks, stating that it is “not on the table in a formal sense”. More...

 

ATP to launch €1bn climate fund
10 December: Denmark’s largest pension fund, ATP, is setting up a €1 billion ($1.5 billion) fund to address climate change in emerging economies – and is inviting other institutional investors to join. More...

 

US relaxes rules on renewable energy loan guarantees
10 December: In an attempt to spur additional investment in the renewable energy sector, the US Department of Energy has loosened the rules governing its loan guarantee programme. More...

 

China second most attractive country for renewables investment
10 December: China is second only to the US as the most attractive country to invest in renewable energy projects, according to consultancy Ernst & Young. More...

 

Impax assets surge on environmental investment boom
10 December: Environmental investment manager Impax saw its assets under management grow 15% to £1.26 billion ($2.30 billion) in the year ending 30 September 2009. More...

 

Commission backs six sites for carbon capture and storage
10 December: The European Commission has named the six carbon capture and storage projects that will receive a share of the €1.05 billion ($1.55 billion) in funding from the €4 billion set aside for energy projects in the EU economic-stimulus package. More...

 

Europeans to co-operate on offshore wind grid for North Sea
10 December: Nine European countries have signed an agreement to co-operate on an electricity grid in the North Sea and Irish Sea, to connect up offshore wind farms and help the EU meet its target to source 20% of energy from renewables by 2020. More...

 

Copenhagen could boost US climate bill, says Pew (from Carbon Finance)
3 December: Progress on a post-2012 global agreement in Copenhagen could provide momentum for climate legislation in the US Senate, according to the Pew Center on Global Climate Change. More...

 

Railpen bids to push climate change up investment agenda
3 December: Railpen, one of the UK’s largest pension funds, has asked its investment managers and trustees to fill out a ‘climate audit’ of how they factor climate change into existing investment processes. More...

 

China, India targets in ‘right ball-park’ for carbon budget – PwC
3 December: Targets from China and India to reduce their carbon intensity “are in the right ball-park” for getting the world back in line with its 'carbon budget', according to PricewaterhouseCoopers. More...

 

Bankwatch blasts EIB over fossil fuel lending
3 December: Spending on renewable energy by the European Investment Bank is being undermined by its continuing support for fossil fuels, according to funding watchdog CEE Bankwatch Network. More...

 

Three G10 governments ‘mulling climate-linked bonds’
3 December: Governments of at least three of the world’s 10 largest economies are actively discussing issuing 'index-linked climate bonds', according to the think-tank that has pioneered the concept. More...

 

EPA punts ethanol blending call
3 December: The US Environmental Protection Agency has deferred a decision on increasing the limit on ethanol blended into gasoline from 10% to 15% until next summer, but indicated preliminary tests support such a change. More...

 

Infinis wins majority stake in landfill gas rival
3 December: Infinis, the UK landfill gas-to-energy firm owned by private equity group Terra Firma, appears set to take over Novera, its smaller rival, after raising its offer last week. More...

 

Thomson Reuters acquires ESG data firm Asset4
3 December: Thomson Reuters has acquired Asset4, which provides environmental, social and governance data and tools for investors and corporations, for an undisclosed sum. More...

 

Obama heading to Copenhagen with 2020 target (from Carbon Finance)
26 November: US President Barack Obama will table an emissions cap for the country at next month’s UN climate summit in Copenhagen, the White House confirmed yesterday. More...

 

Earth Capital Partners ‘on course’ for $5bn fund-raise
26 November: The Stanley Fink-backed Earth Capital Partners is still on course to raise $5 billion into environmentally-focused funds, as it prepares to name a cornerstone investor in a new renewable energy fund. More...

 

Green stimulus cash at risk – HSBC
26 November: Less than a fifth of the promised $513 billion in government green stimulus money is set to be spent this year, raising the risk of “retrenchment” as governments seek to exit fiscal stimulus strategies, according to HSBC. More...

 

CDP water initiative exposes disclosure challenges
26 November: Investors have welcomed the launch of a water disclosure programme by the Carbon Disclosure Project, but the initiative exposes a plethora of challenges in understanding the risks and opportunities associated with water scarcity. More...

 

SEC should reflect new realities on climate disclosure – investors
26 November: The US Securities and Exchange Commission should provide guidance to companies on climate change disclosure, given recent “regulatory, legislative and scientific developments” on the issue, according to investors managing $1 trillion in assets. More...

 

McKinsey, World Bank warn on water
26 November: Governments and private institutions must invest $50 billion-$60 billion annually between now and 2030 to avoid future water shortages causing serious economic and environmental consequences, according to a report from McKinsey and the World Bank. More...

 

Terra Firma unit ups bid for landfill gas-to-power rival
26 November: Infinis has raised its offer to acquire Novera Energy, prolonging the takeover battle involving the UK’s two leading producers of power from landfill gas. More...

 

Sustainable investment in China a ‘growing opportunity’ – BSR
26 November: Investing sustainably in China is possible but growth is being hampered by a number of factors, including a lack of relevant information, according to a report from sustainability consultancy BSR. More...

 

Post-2012 climate deal delay ‘rocks confidence’ – investors (from Carbon Finance)
19 November: Statements from US President Barack Obama and Chinese President Hu Jintao that a legally binding climate deal is unlikely to be struck at Copenhagen next month have rocked confidence in the global carbon markets, investors have told Carbon Finance. More..

 

‘Stern review’ of biodiversity calls for more ecosystem markets
19 November: Policy-makers should expand payments for ecosystem services and harness the power of markets to help protect the planet’s biodiversity, according to a landmark study. More..

 

UK technology VC fund eyes £300m first close
19 November: The UK government is aiming for a first close of its venture capital fund of funds at £300 million ($499 million) in December. More..

 

EPA looks to tighten timing on SO2 limits
19 November: The US Environmental Protection Agency wants to set more timely limits on sulphur dioxide emissions. More..

 

ESG could boost financial performance – Mercer
19 November: Taking environmental, social and governance issues into account can improve the financial performance of investments, according to a survey of academic research by consultancy Mercer. More..

 

Government support key to boosting marine energy – analysts
19 November: A lack of private sector investment could lead to the marine energy industry floundering unless governments throw the sector a lifeline, according to analysts at Frost & Sullivan in London. More..

 

CLSA appoints sustainability research head
19 November: Leading Hong Kong-based brokerage CLSA Asia-Pacific Markets has hired Simon Powell as its first head of sustainability research. More..

 

November issue of Environmental Finance out now
19 November: The latest issue of Environmental Finance is now available, featuring a special report examining the key issues faced by the international climate change negotiators in Copenhagen next month. More..

 

November issue of Carbon Finance out now
19 November: The November issue of Carbon Finance is now available, including the latest on negotiations on a post-2012 international climate agreement. More..

 

IEA puts $500bn a year cost on Copenhagen failure (from Carbon Finance)
12 November: Each year of delay in cementing a global post-2012 climate deal will add $500 billion to the cost of the low-carbon energy revolution, the International Energy Agency has warned. More...

 

US to boost solar manufacturing with tax credits
12 November: US Senators have introduced a bill that would extend the 30% solar investment tax credit to equipment and facilities used to manufacture solar technology. More...

 

EIB, banks up UK onshore wind funding
12 November: The European Investment Bank and three private sector banks are to lend up to £1.4 billion ($2.3 billion) to onshore wind farms in the UK – 40% more than was planned just three months ago when the programme was first flagged. More...

 

Invicta seeks £300m for Scottish biomass fund
12 November: Invicta Capital aims to raise £300 million ($496 million) into a fund to develop nine biomass combined heat-and-power plants in Scotland. More...

 

Mountain plans second German clean-tech fund
12 November: Mountain Cleantech, a Switzerland-based investment group, plans to launch its second fund targeting the clean technology sector in German-speaking countries. More...

 

RBS launches emerging markets SRI index
12 November: UK bank RBS has launched an equity index that will track socially responsible companies in emerging markets – and will shortly launch two products based upon it. More...

 

EU ‘well on track’ to meet Kyoto target
12 November: The EU is on track to meet its Kyoto Protocol target to reduce greenhouse gas emissions, according to the European Commission’s annual emissions report. More...

 

RWE makes Denmark-sized mistake in CO2 emissions
5 November: German energy giant RWE overstated its own carbon dioxide emissions by 70 million tonnes – equivalent to the annual greenhouse gas emissions of Denmark – in a report this year because of a classification mistake. More...

 

Republican boycott halts progress on US climate law (from Carbon Finance)
5 November: Hopes for a US Senate vote on climate legislation ahead of the UN climate conference in Copenhagen next month have dimmed, following further delays in committee meetings this week. More...

 

EIB sells $320m of green bonds to Scandinavian investors
5 November: The European Investment Bank has sold a total of SEK2.25 billion ($320 million) in bonds to Scandinavian investors, the proceeds of which will be used to finance renewable energy and energy efficiency projects. More...

 

US Ex-Im adopts carbon policy
5 November: The US Export-Import Bank has adopted what it claims is the first comprehensive carbon policy for an export credit agency and has set up a $250 million facility to back renewables exports. More...

 

RiskMetrics makes second ESG acquisition this year
5 November: RiskMetrics has bought socially responsible investment pioneer KLD Research & Analytics for $10 million, in the latest sign of consolidation in the SRI research space. More...

 

JV formed to develop Desertec plan
5 November: A joint venture has been set up to pursue the €400 billion ($595 billion) Desertec project, to build solar and wind projects in the deserts of the Middle East and North Africa to supply local energy needs – and export electricity to Europe. More...

 

Walkers chips away at water footprint of crisps
5 November: PepsiCo UK & Ireland, the company behind Walkers Crisps, has undertaken a project to identify practical actions to reduce water usage by potato growers, the firm said in its annual environmental sustainability report published last month. More...

 

VAT clampdown leads to carbon market’s first quarterly drop (from Carbon Finance)
29 October: Both the value and the volume of carbon trading fell between the second and third quarters this year, under the twin effects of recession and a clamp-down on value added tax fraud. More...

 

AIG Investments culls sustainability team
29 October: AIG Investments is shedding its sustainable investment division, following its acquisition by Pacific Century Group, a Hong Kong-based private equity firm. More...

 

Flurry of deal-making in solar sector
29 October: Solar third-party financier SunEdison has been snapped up by silicon wafer firm MEMC Electronic Materials for $200 million, the latest in a cluster of solar deals – including the first IPO in the sector for more than a year. More...

 

German coalition steers away from solar tariff cuts
29 October: The recently elected German coalition government has dropped plans for major cuts to solar photovoltaic feed-in tariffs. More...

 

Carbon markets don’t motivate clean investment, says Deutsche Bank (from Carbon Finance)
29 October: Emissions trading has done little to encourage investment in renewable energy and energy efficiency, and governments should focus on introducing feed-in tariffs and mandates if they want to prevent the worst effects of climate change by 2020, according to analysis by Deutsche Bank’s Asset Management division. More...

 

SEC guidance to ease climate change resolutions
29 October: Investors will now find it easier to demand climate change disclosures from US-listed companies, following a Securities and Exchange Commission decision on Tuesday. More...

 

‘Creative’ policies needed to drive low-carbon investment – UNEP
29 October: Governments should adopt “creative policies” to encourage low-carbon investment in developing countries, if the world is to mobilise the $500 billion a year needed to help poor countries tackle climate change, according to a report from the UN Environment Programme and other finance groups. More...

 

EIB seeks managers for £100m sustainable energy fund
29 October: The European Investment Bank is seeking fund managers to both manage and leverage £100 million ($165 million) in sustainable energy funding for London announced last week. More...

 

Companies struggling to address natural resource exposures
29 October: Investors have raised concerns that few companies are adequately managing their dependence on natural ecosystems, putting their strategies and valuations at risk. More...

 

Cast your vote in the Environmental Finance market survey
22 October: Voting has opened in the Environmental Finance and Carbon Finance market survey – the most closely watched survey of the world’s environmental markets. More...

 

Aviation, shipping in EU’s sights as it sets out Copenhagen stance (from Carbon Finance)
22 October: EU environment ministers have set out the bloc’s position on shipping and aviation emissions for the Copenhagen climate talks – but have failed to agree on the treatment of Assigned Amount Units. More...

 

‘Bipartisan support’ likely to underpin US Green Bank proposal
22 October: The prospects for a US federal bank to help finance renewable energy – as proposed in Congressional climate legislation – look rosy given bipartisan support and the ongoing difficulty of securing financing in the private markets, supporters have said. More...

 

US stimulus money boosts wind power
22 October: The US renewable energy grant programme has led to a surge in wind project development in recent months, according to the American Wind Energy Association. More...

 

IEA members ‘not on track’ on energy efficiency
22 October: “More action is needed” by International Energy Agency member countries on energy efficiency, according to a new report from the agency. More...

 

World Bank arranges $290m Mexico cat bond
22 October: Mexico has sold a $290 million catastrophe bond to investors, becoming the first country to use the ‘Multicat’ framework developed by the World Bank. More...

 

Impax clears £100m for Asia environment fund
22 October: Impax Asset Management has raised £102 million ($170 million) into its Asian Environmental Markets fund – making it the largest closed-end listed investment trust raised in London since July 2008, according to its book-runner. More...

 

UK Treasury wins first round of RBS environment case
22 October: A High Court judge has quashed an attempt by three NGOs to force the UK government to apply stricter environmental and social criteria to investments made by RBS, one of the banks nationalised during the credit crunch. More...

 

PwC, investors to study effect of climate on municipal bonds
22 October: A study is underway to examine how water shortages and climate change could affect the value of US municipal bonds. More...

 

Methodology opens way for carbon credits for biodiesel plantations (from Bioenergy Business)
22 October: Biodiesel crop plantations will now be eligible for carbon credits under the Clean Development Mechanism of the Kyoto Protocol, following approval of a new methodology last week. More...

 

Environmental Finance's 10th anniversary issue out now
15 October: Environmental Finance celebrates 10 years of publishing this month with a special commemorative issue. More...

 

Soros to invest $1bn in clean-tech
15 October: Billionaire hedge fund manager George Soros has said he will invest $1 billion in clean technology, in a bid to tackle climate change. More...

 

Robeco raising third clean-tech fund
15 October: Dutch investment manager Robeco is raising capital into its third clean-tech private equity fund-of-funds, according to its global head of private equity. More...

 

Climate Change Capital pulls out of listed equities
15 October: Investment manager Climate Change Capital is pulling out of listed equities, after its loss-making unit failed to perform as well as expected. More...

 

UK needs 'step change' to meet carbon budgets – CCC
15 October: Policy-makers must not allow the recession to cloud the need for a “step change” in action on climate change, the committee responsible for setting the UK government’s carbon budget has warned. More...

 

Extension mooted for successful US renewables grants
15 October: The US government’s grant programme for renewable energy projects has been extremely effective, boosting developer hopes for an extension. More...

 

ICAO considers emissions trading for aviation sector
15 October: The International Civil Aviation Organization has committed to reduce greenhouse gas emissions from aviation through market-based measures, improved fuel efficiency and use of biofuels, ahead of December’s UN climate talks. More...

 

Markit mulls CDM success derivatives (from Carbon Finance)
15 October: Financial services firm Markit may launch derivatives which would allow clients to hedge the risk of Clean Development Mechanism projects under-delivering. More...

 

Southern buys $475–500m biomass power project in Texas (from Bioenergy Business)
15 October: US electricity utility Southern Company is buying a $475 million–500 million, 100MW biomass power project in Texas from developer American Renewables as part of its plan to expand its biomass generating capacity. More...

 

October issue of Carbon Finance out now
15 October: The October issue of Carbon Finance is now available, including the results of our carbon fund manager survey. More...

 

Aviva calls for CDP to launch ‘Carbon Mitigation Project’
8 October: The chairman of financial services group Aviva today called for the Carbon Disclosure Project to move from disclosure to mitigation – a proposal which was met with an enthusiastic reception by the CDP’s chairman and chief executive. More...

 

Industry questions Commission’s CCS shortlist
8 October: The European Commission has proposed a list of six carbon capture and storage projects to receive a total of €1.05 billion ($1.6 billion) in funding, but industry representatives are concerned about the lack of transparency involved in the selection procedure. More...

 

US government watchdog suggests ethanol tax credit unneccesary (from Bioenergy Business)
8 October: The top US government watchdog has cast doubt on the necessity of federal ethanol subsidies, drawing a sharp rebuke from the Renewable Fuels Association. More...

 

Triodos raising €90m to double sustainable lending
8 October: Triodos Bank is seeking €90 million ($133 million) in fresh capital to double its loan portfolio, as it reports “unprecedented interest” in its approach to banking after the financial crisis. More...

 

UK eases first year of carbon trading scheme (from Carbon Finance)
8 October: Retailers and big business caught in the UK’s domestic carbon trading scheme will only need to report on their emissions for the first year of the programme, not surrender allowances, under changes announced yesterday. More...

 

Clean energy investment slips again
8 October: Global investment in clean energy slipped to $25.9 billion in the third quarter of 2009, according to analysis firm New Energy Finance, down from $28.6 billion in the second quarter and 22% below the same period last year. More...

 

FRR calculates climate risk to asset classes
8 October: Long-term investors should consider shifting out of equities and into bonds, unless they believe ambitious efforts to tackle climate change are likely, a working paper by French pension fund Fonds de Reserve pour les Retraites suggests. More...

 

Boxer, Kerry unveil climate bill (from Carbon Finance)
1 October: The first draft of a Senate climate bill, released yesterday by senators Barbara Boxer and John Kerry, includes a tougher 2020 target than its companion bill passed by the US House of Representatives. More...

 

Clean-tech VC investments overtake IT and biotech
1 October: Venture capital investments in clean-technology companies climbed to $1.59 billion over the last three months, as national stimulus packages brought some confidence back to the sector, according to the Cleantech Group and Deloitte. More...

 

Germany’s renewables support under threat
1 October: Germany’s incoming government has signalled that it is to extend the life of nuclear power plants and tighten the country's generous renewable energy subsidy law. More...

 

A123 reopens IPO market, but raises fears over stimulus
1 October: The success of last week’s Nasdaq listing of A123 Systems has raised hopes among financiers that the initial public offering market may be reopening for clean-tech firms. More...

 

Insight Investment SRI team facing redundancy
1 October: The leading socially responsible investment team at Insight Investment is likely to be made redundant, following the break up of the UK-based asset manager. More...

 

Insurers aim to ease way for developing country renewables
1 October: An online facility meant to make it easier for renewable energy projects in developing countries to access insurance has been launched by a group of insurers and the UN. More...

 

Uniduto plans $1bn fund-raising for Brazilian ethanol pipeline (from Bioenergy Business)
1 October: Uniduto, the Brazilian pipeline developer established by the sugar cane and ethanol firms Cosan, Crystalsev and Copersucar in 2008, will begin a roadshow in February 2010 to raise $1 billion to build its proposed 570 kilometre ethanol pipeline. More..

 

Carbon fund assets reach $16 billion (from Carbon Finance)
24 September: The assets held by or committed to carbon funds have risen by 25% over the last year – which, while a much shallower rise than in previous years, has defied the sharp economic contraction. More...

 

Germany’s CDU could ditch feed-in tariffs, build new nukes
24 September: Germany’s Christian Democrat parties are likely to reduce the role of renewable energy feed-in tariffs and build new nuclear capacity if they win this weekend’s federal election. More...

 

WEF taskforce eyes tens of billions for climate funds
24 September: A World Economic Forum task force has called for the formation of regional public-private investment funds to generate the billions of dollars needed for clean energy technology and infrastructure in the developing world. More...

 

Economy fails to derail CDP response
24 September: Dire economic conditions did not dissuade companies from voluntarily disclosing climate change risks and mitigation strategies, as a record number of top corporations replied to an annual survey conducted by the Carbon Disclosure Project. More...

 

IFC, S&P plan emerging markets ‘carbon efficiency’ index
24 September: The International Finance Corporation and Standard & Poor's are to launch the first emerging market stock index based on relative carbon efficiency. More...

 

Climate revenues soar – but renewables snag HSBC index
24 September: Corporate revenues related to climate change rose globally by 75% in 2008, according to HSBC – but its Climate Change Index has underperformed global equities by 0.8% since its inception in 2007. More...

 

Nasdaq launches ‘smart grid’ index
24 September: Nasdaq this week launched an index to track global ‘smart grid’ infrastructure companies. More...

 

Anglesey Aluminium moves to build £600m biomass power plant (from Bioenergy Business)
24 September: One of the UK's largest single electricity users – Anglesey Aluminium Metals – has applied to the government for permission to build a 300MW biomass-fired power station to stave off final closure. More...

 

Leapfrog eyes £12m/year for low-carbon initiatives
24 September: Leapfrog, a UK charity that aims to channel free specialist assistance to emission reduction and clean technology projects, aims to be providing input worth around £12 million ($19 million) a year to at least 100 projects, within three years. More...

 

EU to press US on climate
17 September: The US must show greater leadership on climate change and follow the example of Japan, which recently agreed to slash emissions by 25% by 2020, according to the Swedish EU presidency. More...

 

$13 trillion backs investor call for climate action
17 September: Investors managing $13 trillion in assets yesterday called for an international climate treaty to “catalyse massive global investments” in low-carbon technologies. More...

 

China’s green-tech market could reach $1 trillion by 2013 – report
17 September: China’s ‘green technology’ market has the potential to grow to $1 trillion and make up 15% of GDP by 2013, according to a report by the China Greentech Initiative. More...

 

Hopes for bidding war push EcoSecurities to 18-month high (from Carbon Finance)
17 September: Investors anticipate a bidding war for EcoSecurities, as JPMorgan made a play for the firm on Monday – backed by the London-listed project developer’s directors. More...

 

Leaf Clean Energy reaches $243m of investments (From Bioenergy Business)
17 September: Investment company Leaf Clean Energy said that it is now largely fully invested or committed to investing, with $243 million in 11 businesses, including biofuel and biomass power companies. More...

 

US ecosystem markets to use Markit registry
17 September: Two US initiatives that will create markets out of services provided by ecosystems have appointed Markit, a financial services firm, to provide a registry for their credits. More...

 

September issue of Environmental Finance out now
17 September: The latest issue of Environmental Finance is now available, featuring an in-depth analysis of the UK’s planned Carbon Reduction Commitment. More...

 

EU unveils reveals proposal for Copenhagen summit
10 September: The EU is willing to pay an annual contribution of up to €15 billion ($22 billion) by 2020 to help developing countries fight climate change, according to a European Commission proposal. More...

 

France unveils carbon dioxide tax
10 September: The French government will next year introduce a carbon tax of €17 ($25) per tonne of carbon dioxide emitted, President Nicholas Sarkozy announced today. More...

 

IFC suspends funding for palm oil sector after critical review (from Bioenergy Business)
10 September: The World Bank's International Finance Corporation has stopped investing in palm oil projects pending the development of a new strategy to address environmental and social practices associated with the crop. More...

 

Clean-tech 'carnage not over' – Intel Capital
10 September: Valuations for venture-stage clean-technology companies have further to fall, according to one of the heads of Intel Capital, who expects to invest less in the sector in 2009 than in either of the previous two years. More...

 

Disruption feared over Norway-Sweden green power plans
10 September: The Norwegian and Swedish governments have agreed to create a unified green certificate market, reviving a long-stalled proposal. More...

 

Aviation emissions should drop to 2005 levels by 2050 – UK body (from Carbon Finance)
10 September: Global aviation emissions must be included in any climate deal agreed at Copenhagen, a key body advising the UK government has said. More...

 

Impax launches Asian environmental fund
10 September: UK-based investment manager Impax Asset Management is to list an investment trust focused on environmental companies in the Asia-Pacific region. More...

 

Khosla raises more than $1b into clean-tech funds
3 September: Venture capital firm Khosla Ventures has closed two funds investing in clean technology and information technology with more than $1 billion. More...

 

Indian Energy IPO limps over the line
3 September: The first clean-technology company to seek a stock market listing in London since the financial crisis began trading yesterday – but with just £9.75 million ($15.75 million) raised, down from the £25 million hoped for by Indian Energy’s brokers. More...

 

Takeover battle for EcoSecurities hots up
3 September: A hostile takeover bid for emissions reduction project developer EcoSecurities by its former president has moved up a gear, as a new potential buyer enters the frame. More...

 

US awards $500m in grants to renewables projects
3 September: In a quicker than expected turnaround, the US government has awarded more than $500 million in grants to 12 renewable energy projects whose developers chose to receive cash payments rather than tax credits. More...

 

US cap and trade is affordable, says EDF (from Carbon Finance)
3 September: US government assessments of the American Clean Energy and Security Act have proven just how affordable a US federal cap-and-trade system will be, said Nat Keohane, director of economic policy & analysis for the Environmental Defense Fund in New York. More...

 

Biopetrol sees turnover halve and warns of more cheap imports (from Bioenergy Business)
3 September: Turnover of the Switzerland-based biodiesel producer Biopetrol Industries dropped by half in the first half of this year compared with a year before, to €69.7 million ($99.5 million) from €139.8 million, while the net loss increased to €12.3 million from €7.1 million. More...

 

Carbon VAT fraudsters eyeing other environmental markets?
27 August: Market participants have expressed fears that fraudsters who have targeted European carbon allowances may turn to other environmental markets, with brokers reporting an increase in requests to trade renewable energy certificates. More...

 

India plans energy efficiency trading scheme
27 August: India’s prime minister this week unveiled an energy efficiency trading system designed to save 5% of the country’s energy consumption, and 100 million tonnes of carbon dioxide annually, by 2015. More...

 

EcoSecurities’ founder slams board (from Carbon Finance)
27 August: Pedro Moura Costa, one of the co-founders of EcoSecurities, has attacked the board of the London-listed project developer, claiming it is taking the company in the wrong direction. More...

 

Investors’ votes add climate pressure on companies
27 August: Activist shareholders are seeing growing support from investors in US and Canadian companies for climate change-related resolutions, according to Ceres. More...

 

Cat bond market hots up as investors pile in
27 August: Growing interest in catastrophe bonds and a lack of major disasters is helping to drive up prices – and market participants are expecting a wave of issuances as the risk premium demanded by investors returns to pre-crisis levels. More...

 

World’s biggest firms must double pace of carbon cuts – CDP
27 August: Many of the world's 100 largest companies are setting targets to cut their greenhouse gas emissions, but they must double the pace of action to avoid dangerous climate change, a report by the Carbon Disclosure Project and UK telecoms firm BT has concluded. More...

 

Cheviot eyes October launch for climate fund
27 August: Cheviot Asset Management is planning to launch what it hopes will be the first of a series of sustainability-orientated investment funds in October with £20 million ($33 million) in commitments, according to its recently appointed portfolio manager. More..

 

Sugar-to-biofuels firm Amyris raises $25 million (from Bioenergy Business)
27 August: California’s Amyris Biotechnologies has raised $24.7 million to pursue development of its technology to convert sugar cane into biofuels and useful chemicals. More...

 

UK arrests seven in £38m VAT fraud investigation (from Carbon Finance)

20 August: The UK yesterday arrested seven people suspected of committing value added tax fraud in the carbon market. More...

 

Australia boosts renewable energy target
20 August: The Australian Senate today passed legislation that commits the nation to generating 20% of its electricity from renewables by 2020, after the government secured the support of the main opposition coalition. More...

 

Infigen to sell 1.1GW US wind farm portfolio
20 August: Australian wind farm developer Infigen Energy has put its US assets up for sale, in order to focus on its domestic market. More...

 

Norway sovereign fund to focus on water risk
20 August: Norway’s $394 billion sovereign wealth fund has identified water supply as a risk to 11% of its portfolio – adding the issue to climate change and a number of social concerns on which it will pressure the companies in which it invests. More...

 

FTSE, HSBC chosen by New York pension fund for green investments
20 August: The New York State Common Retirement Fund is to invest $100 million each against the FTSE Environmental Technology 50 and the HSBC Global Climate Change Index, as the first investments under its planned $500 million “Green Strategic Investment Program”. More...

 

Five firms ejected from PRI
20 August: Five financial institutions have been delisted from the Principles for Responsible Investment (PRI) initiative after failing to file an annual report on how they are integrating environmental, social and corporate governance issues into their investment processes. More...

 

August issue of Carbon Finance out now
20 August: The August issue of Carbon Finance is now available, including the latest on UN negotiations on a post-2012 international climate agreement. More...

 

Price collapse and overcapacity hit solar sector results
13 August: Falling prices and demand for solar cells and modules is causing pain for the largest companies in the solar sector, who may have to wait until 2010 to feel the benefit of renewable energy stimulus packages. More...

 

IFC breached standards on palm oil financing – ombudsman
13 August: An audit by the International Finance Corporation’s own watchdog has found it failed to apply its own environmental and social standards in a series of investments and loans to palm oil trading and plantation owner Wilmar Group. More...

 

WM signs landmark deal for Chinese solid waste firm
13 August: Waste Management will pursue waste-to-energy opportunities in China following its $140 million acquisition of a stake in Shanghai Environment Group last week, believed to the single largest foreign investment in China’s solid waste management sector. More...

 

Search for 'perfect accuracy' hinders CDM – EDF (from Carbon Finance)
13 August: A quest to ensure “perfect accuracy” in the Clean Development Mechanism is hindering its growth, said EDF Trading. More...

 

Japanese corporates form climate leadership group
13 August: Five Japanese companies have come together in what they say is the country’s first business coalition around climate change. More...

 

Mercer to study green investments for hedge fund giant
13 August: Leading hedge fund GLG Partners has asked consulting group Mercer to conduct a study into how the perceived need to tackle climate change and other environmental issues is impacting mainstream investing. More...

 

TMO raises £11m for bacterium-based ethanol technology (from Bioenergy Business)
13 August: TMO Renewables has raised £11 million ($18 million) from the sale of new shares to help fund the roll-out of its "second-generation ethanol" technology, the company said last week. More...

 

Renewable Ventures closes $200 million solar fund
6 August: Renewable Ventures has raised $200 million into its latest solar fund, which will finance development of 35MW of utility-scale projects across the US in the next year. More...

 

Bosch acquisitions herald solar consolidation
6 August: Technology giant Bosch announced this week plans to take over two German solar companies – potentially representing the largest clean-tech deal since the financial crisis and heralding likely consolidation in the sector. More...

 

Germanischer Lloyd and Garrad Hassan to merge
6 August: Germanischer Lloyd and Garrad Hassan, two of the leading engineering and consultancy companies serving the wind industry, have announced plans for a merger. More...

 

Carbon firms report strong start to 2009
6 August: London-listed carbon project developers EcoSecurities and Camco both reported strong results for the first half of the year, with the former posting its first profit. More...

 

Think-tank petitions EPA for cap-and-trade for transport emissions (from Carbon Finance)
6 August: A US think-tank has called on the Environmental Protection Agency to introduce a cap-and-trade programme targeting transport emissions, rather than wait for Congress to overcome its internal disputes. More...

 

Morgan to head WRI’s climate team
6 August: Climate policy veteran Jennifer Morgan is to join the World Resources Institute as director of its climate and energy programme, succeeding Jonathan Pershing who left in March to become deputy special envoy for climate change for the US. More...

 

Production cuts help ArcelorMittal reduce emissions
6 August: ArcelorMittal cut its greenhouse gas emissions by 8.2% in 2008, despite increasing the emissions intensity of its steelmaking operations. More...

 

Energy efficiency offers $680bn boost to US economy – McKinsey
30 July: Energy efficiency measures could offer net savings of $680 billion to the US economy by 2020, according to a study by consultancy McKinsey & Co. More...

 

Banks, EIB plan £1bn financing for UK onshore wind
30 July: In a bid to re-start UK onshore wind development after the credit crunch, the government, the European Investment Bank and three commercial banks are planning a £1 billion ($1.65 billion), three-year financing programme. More...

 

Indian Energy to reopen AIM IPO market?
30 July: Indian wind energy developer Indian Energy has announced that it is seeking a listing on the London Stock Exchange’s Alternative Investment Market – which would be London’s first clean-tech flotation since the financial crisis began last year. More...

 

€546m funding closes for former Econcern offshore wind farm
30 July: The Belwind offshore wind project has closed €546 million ($768 million) in financing, bringing it back from the brink after the original developer Econcern filed for bankruptcy. More...

 

US wind energy expansion slows
30 July: The expansion of the US wind sector slowed in the second quarter of 2009, jeopardising the industry’s record pace of growth. More...

 

China steps up solar, wind support
30 July: With more policy support for renewable energy still forthcoming, China this month announced a plan to subsidise at least 500MW of solar power installations as well as a fixed feed-in tariff for wind power projects. More...

 

2009 disasters hit well-insured in US and Europe
30 July: Natural catastrophes took far fewer lives than usual in the first half of 2009, but insured losses were above the 10-year average, according to Munich Re. More...

 

EcoSecurities’ founder makes bid official (from Carbon Finance)
30 July: Pedro Moura Costa, former president and a co-founder of carbon aggregator EcoSecurities, formally made an offer to take over his old firm last week, six weeks after announcing his intentions. More...

 

BAE partners with Lignol on cellulosic ethanol (from Bioenergy Business)
30 July: UK defence and aerospace giant BAE Systems has signed a memorandum of understanding with Canadian biorefiner Lignol Energy – including the possible financing of commercial-scale cellulosic ethanol projects. More...

 

July-August issue of Environmental Finance out now
30 July: The latest issue of Environmental Finance is now available, featuring the winners of the annual Environmental Finance awards. More...

 

Winners announced in annual Environmental Finance awards
23 July: Environmental Finance magazine has named the winners of its annual awards, which recognise leading transactions and individuals active in environmental markets. More...

 

Chinese clean-tech fund aims to raise $350m
23 July: A Chinese private equity firm is hoping to raise $350 million into US dollar and yuan-denominated funds over the next two years to invest in clean energy projects and companies. More...

 

France should adopt carbon tax, government to be told
23 July: French consumers should pay a carbon tax on their fossil fuel emissions from 2010, climate and energy experts will advise the French government tomorrow. More...

 

Asian pension funds urged to lead on ESG – ADB
23 July: Asia’s public pension funds could “leapfrog” the West and become leaders on responsible investment, according to a report commissioned by the Asian Development Bank. .More...

 

First Wind taps $191 million financing
23 July: Despite tough market conditions, First Wind has announced the completion of two sizeable financing transactions. More...

 

Mayday call for the EU ETS (from Carbon Finance)
23 July: A surplus of allowances threatens to make the EU Emissions Trading Scheme irrelevant, says Bryony Worthington – who suggests how it could be rescued. More...

 

Panda Ethanol opts for final dissolution (from Bioenergy Business)
23 July: US ethanol producer Panda Ethanol has dissolved its operations and asked a court to modify a bankruptcy petition filed previously by its subsidiary to reflect its pending liquidation. More...

 

UK sees five-fold growth in renewables to hit climate targets
16 July: The UK government yesterday announced plans for how the country will reduce its greenhouse gas emissions by 18% against 2008 levels by 2020, unveiling additional support for renewable energy generation. More...

 

ExxonMobil invests $600m into fuel-from-algae (from Bioenergy Business)
16 July: Oil and gas giant ExxonMobil is to spend up to $600 million over five to six years on research and development of biofuels made from algae and potentially more than $1 billion over the next 10–15 years. More...

 

Questions persist on US renewables grants
16 July: A US federal grant programme could provide a much-needed boost to the renewable energy sector now that key guidance has been released, according to investors, but unresolved questions could limit its effectiveness. More...

 

‘Sustainability leaders’ outperform – Robeco
16 July: Companies deemed 'sustainability leaders' using analysis developed by SAM have outperformed their peers, according to research carried out by Robeco. More...

 

Sarasin retools real estate fund for sustainability
16 July: Asset manager Sarasin & Partners has launched a long-only equity fund that will invest in global sustainable real estate companies and real estate investment trusts. More...

 

Société Générale dominates SRI awards
16 July: Société Générale has won a raft of plaudits for its socially responsible investment analysis in a survey by UKSIF, a UK-based sustainable investment and finance association and Thompson Reuters Extel, which also showed confidence that demand for sustainability research will increase this year. More...

 

Commission okays UK CRC against state aid rules
16 July: The European Commission has given the green light to proposals by the UK to introduce an emissions trading scheme for sectors not covered by the EU’s existing cap-and-trade scheme. More...

 

A tweet way to sell carbon credits? (from Carbon Finance)
16 July: A US broker is using micro-blogging site Twitter to offer carbon credits and seek other business in the carbon markets. More...

 

Climate change investors look beyond G8
9 July: Investors exposed to the climate change theme have welcomed progress on targets at the G8 meeting in Italy this week – but say it is of little immediate relevance in investment terms. More..

 

Recession helps double global carbon trading – Point Carbon (from Carbon Finance)
9 July: Volumes in the global carbon markets jumped 124% in the first half of this year, compared with the same period last year, according to Point Carbon – with the EU Emissions Trading Scheme accounting for the bulk of the growth, as recession-hit industrial emitters sold allowances to raise cash. More...

 

Finance, transmission take wind out of Pickens’ sails
9 July: Texas oilman T Boone Pickens’ has put on hold his grand plan to build the largest US wind farm – highlighting two significant problems for renewable energy development: tight financing and an inadequate transmission infrastructure. More...

 

Banks slammed for involvement in palm oil fund-raising
9 July: Three European banks have come under fire from environmentalists for their involvement in a fund-raising by palm oil producer Golden Agri-Resources, which NGOs claim is involved in rainforest destruction. More...

 

Equity fund managers ‘complacent’ on carbon emissions
9 July: Climate change has little influence on the investment decisions made by equity fund managers, according to a report which revealed a seven-fold difference in the carbon footprints of UK-based equity funds. More...

 

Sweden develops national biogas strategy (from Bioenergy Business)
9 July: Sweden has told its energy agency to develop a national policy for the production, distribution and use of biogas as a vehicle fuel, as part of a move towards its target of the country's cars being fossil fuel-free by 2030. More...

 

Renewables industry pushes for tougher targets
2 July: Renewable energy advocates have welcomed the momentum toward adoption of a US federal renewable electricity standard, but vowed to keep pushing for a stronger mandate. More...

 

UK's Brown calls for $100 billion a year climate fund (from Carbon Finance)
2 July: UK Prime Minister Gordon Brown has called for $100 billion a year to be put aside by 2020 to help developing countries fight climate change – the first leader of an industrialised country to put a figure on the table. More...

 

VC investment in clean-tech rebounds to $1.2 billion
2 July: Venture capital investment in clean technologies rebounded to $1.2 billion in the second quarter of 2009, according to the Cleantech Group, but investment levels stayed well below the highs of 2007-08. More...

 

UK government faces judicial review over sustainability at RBS
2 July: Three environmental NGOs have taken legal action against the UK Treasury over its decision to bail out RBS without imposing environmental criteria on the bank’s finance practices. More...

 

Ex-Wall Street bankers launch clean-tech advisory firm
2 July: A team of former Wall Street bankers have launched a financial advisory firm focused on the alternative energy and clean technology sectors. More...

 

CME launches SO2 contracts
2 July: CME Group is to launch a series of futures and options contracts based on sulphur dioxide allowances in mid July. More...

 

UK could generate £70bn from wind, wave power – Carbon Trust
2 July: The UK offshore wind and wave power markets could be worth £70 billion ($115 billion) and provide at least 15% of the carbon dioxide emissions reductions needed to meet the country’s 2050 targets, said the Carbon Trust today. More...

 

Bache launches biofuels and climate change index (from Bioenergy Business)
2 July: Trader and broker Bache Commodities yesterday launched a "green" investment and benchmarking index based on biofuels feedstocks and "clean air" commodities including carbon emissions credits. More...

 

Siemens doubles income from environmental business
2 July: Annual revenues from Siemens’ environmental activities grew 12% in 2008 to €18.9 billion ($26.5 billion) – almost double the rate for the business as a whole. More...

 

US government lending could support $250bn of renewables projects
25 June: With the distressed capital markets currently reluctant to provide extensive funds for renewable energy projects, the US Department of Energy is committed to temporarily providing financial support for mature technologies, officials said. More...

 

Industry group to develop €400bn African solar plan
25 June: Munich Re is backing a €400 billion ($560 billion) plan to build solar energy plants in north Africa that could supply 15% of Europe’s energy needs by 2050. More..

 

Climate Exchange shares rally following ICE investment (from Carbon Finance)
25 June: Shares in leading carbon exchange operator Climate Exchange jumped more than 16% on Tuesday following news that IntercontinentalExchange (ICE) had bought a 4.8% stake in the company – sparking speculation of a takeover attempt. More...

 

Export credit agencies pull out of Ilisu project – report
25 June: Germany, Austria and Switzerland are to withdraw their export credit guarantees for Turkey’s Ilisu dam project, jeopardising the project’s future, according to a report last Friday from the German newspaper Frankfurter Rundschau. More...

 

ADB’s energy policy draws fire, despite renewables boost
25 June: The Asian Development Bank (ADB) is to double its clean energy investments to $2 billion from 2013. More...

 

Wheb’s new fund sees opportunity in valuations
25 June: Wheb Ventures has launched a sister company to invest in listed equities set to benefit from their exposure to three ‘megatrends’ – water, climate change and demographic change. More...

 

Sustainable timber fund gains €30m backing from EIB
25 June: Dasos Capital’s private equity timber fund has made its first close of €85 million ($119 million), following a pledge of €30 million from the European Investment Bank (EIB). More...

 

Econcern finds buyers for some assets
25 June: Stricken Dutch sustainable energy company Econcern has managed to find buyers for parts of its business – but the jobs of some 600 of its 1,100 staff remain at risk. More...

 

Leapfrog carbon reduction initiative jumps ahead
25 June: The Leapfrog initiative, which aims to provide specialist volunteers to help bring emission reduction and clean technology projects to fruition, is moving ahead on several projects and is planning a formal launch on 24 September. More...

 

Green groups blast Senate renewables bill
18 June: Environmental groups have slammed a US Senate bill that would implement a federal renewable electricity standard because of a weakening of its targets, vowing to push for the reinstatement of stronger mandates as the bill navigates the legislative process. More...

 

Investors focus on deforestation disclosure
18 June: Investors are to call on companies to examine and disclose their role in tropical deforestation, via the Forest Footprint Disclosure Project. More...

 

US government steps back up for carbon capture
18 June: The US government has resurrected the FutureGen Project – a major carbon capture and sequestration (CCS) pilot – although its future remains far from certain. More...

 

German enviro ministry blocks industry ETS reimbursement plan
18 June: The German environment ministry has blocked proposals to provide relief to the smelting industry by reimbursing the cost of EU allowances passed on through electricity bills. More...

Energy efficiency stocks soar on stimulus – HSBC
18 June: Energy efficiency and energy management companies within the HSBC Climate Change Index have strongly outperformed this year, thanks to support from government stimulus packages, according to an HSBC report. More...

 

Eurex launches hurricane futures
18 June: Germany-based exchange Eurex is to launch hurricane futures on 29 June, it announced on Tuesday, targeted at asset managers, hedge funds, banks and insurance and reinsurance companies. More...

Biofuel funding flow switches to new technologies
18 June: The severe economic struggles of the US ethanol sector have led to a shift from expanding production using proven processes towards smaller investments in emerging biofuel technologies, market experts said. More...

 

More indexes to address sustainable investment
18 June: Three index providers this week announced new products focused on companies that address environmental issues or show class-leading efforts on sustainability reporting. More...

Public sector must lead way on climate finance – China
11 June: Governments from developed countries must lead the way on finance for climate change adaptation, mitigation and technology transfer, said a negotiator for China today at UN climate talks. More...

 

Japan defends 2020 target (from Carbon Finance)
11 June: Japan has defended its 2020 emissions reduction target, announced yesterday, in the face of criticism from the EU and NGOs. More...

 

Airlines promise cap on emissions from 2020
11 June: Airlines have committed to a global cap on their carbon emissions in 2020, the International Air Transport Association announced on Monday, but environmentalists slammed the group's lack of ambition. More...

 

Greens gain, but centre-right dominates, in EU elections
11 June: The European Greens have heralded their increase in seats in last week’s European Parliament elections, but with the centre-right parties as the dominant players, it looks unlikely that Europe’s politicians will emerge with a stronger line on climate change in time for the UN’s Copenhagen summit on climate change in December. More...

 

Triodos scoops up sustainable bank of year award
11 June: Triodos Bank was last week named sustainable bank of the year, the first time a specialist ethical bank has won the annual award given out by the International Finance Corporation and the Financial Times. More...

 

Cox to retire as head of BP’s alternatives
11 June: BP’s head of alternative energy, Vivienne Cox, is to retire from the company after four years of leading the division. More...

 

Investors warned on biodiversity risk in key sectors
11 June: Investors have been warned of the “critical risks” to key sectors from biodiversity and ecosystem loss, in a report by the European Sustainable Investment Forum and sustainable ratings agency Oekom Research. More...

 

Xstrata reports emissions increase in 2008
11 June: Greenhouse gas emissions by Xstrata, the coal and metals mining giant, rose 7% in 2008 while the carbon intensity of its operations rose by 8%, but the company remains on track to meet its 2010 target for emissions intensity. More...

 

IFC lends Tanzania wood and energy project $18m (from Bioenergy Business)
11 June: The International Finance Corporation, part of the World Bank, is to lend Norwegian bioenergy and forestry firm Green Resources $18 million for a $64.3 million project in Tanzania to plant 8,000 hectares of forest for wood and energy. More...

 

Weather risk market halves in 08/09 – WRMA
4 June: The notional value of transactions in the weather risk market in 2008/9 fell to $15.1 billion, less than half the previous year’s $32 billion, as the economic meltdown took its toll on risk capital, according to an annual survey by the Weather Risk Management Association. More...

 

Bridging loan tides over Econcern, but breakup imminent
4 June: Dutch renewable energy company Econcern says it obtained short-term bridging finance earlier this week, and is now seeking to divest itself of potentially all of its joint ventures and operating companies. More...

 

Cap and trade would slash profits for US utilities – study
4 June: Carbon costs in a cap-and-trade programme could wipe out earnings for some companies in the Standard & Poor’s 500, according to a study by the Investor Responsibility Research Center Institute. More...

 

Emission reduction pledges not ambitious enough – UNFCCC chief (from Carbon Finance)
4 June: Yvo de Boer, executive secretary of the UN Framework Convention on Climate Change, welcomed a near-complete list of post-2012 emission reduction pledges from industrialised countries, but warned that the level of ambition is not high enough. More...

 

Financial firms ‘worst’ at climate disclosure – studies
4 June: Financial services companies are the worst offenders when it comes to failing to disclose climate change risks and mitigation strategies, which could have serious consequences for investors, two reports on corporate disclosure warn. More...

 

Galileo Weather in management buy-out
4 June: Galileo Weather Risk Management Advisors has been bought by its founders for an undisclosed sum and has linked up with a soon-to-be-named insurance company that will provide counterparty credit. More...

 

Biofuels could cut jet emissions by 65%, says Air New Zealand (from Bioenergy Business)
4 June: The replacement by biofuels of half of the jet fuels now being burned could cut airlines' greenhouse gas emissions by 60–65%, claimed Air New Zealand. More...

 

HSBC’s sustainability efforts hit by financial crisis
4 June: HSBC made mixed progress on its sustainability goals in 2008, according to its sustainability report published last week. More...

 

New fund manager aiming for €200m enviro fund of funds
28 May: A recently launched fund manager claiming “depth and breadth” in experience is understood to be hoping to raise €200 million ($279 million) into a low-carbon technology private equity fund of funds. More...

 

Carbon market doubled in value in 2008 – World Bank (from Carbon Finance)
28 May: The carbon market grew by 100% in value between 2007 and 2008, to more than $126 billion, according to the World Bank. More...

 

Deal unlikely to be reached in Copenhagen – survey (from Carbon Finance)
28 May: Fewer than one third of International Emissions Trading Association members expect “ambitious commitments” from any climate deal reached in Copenhagen in December. More...

 

IEA confirms renewables recession woes
28 May: Investments in renewable energy are expected to drop 38% in 2009 thanks in part to the financial crisis, according to a report from the International Energy Agency for the G8 energy ministers’ meeting in Rome this week. More...

 

Signet Solar gets module cover from Munich Re and Marsh
28 May: Insurance broker Marsh and Munich Re are insuring Signet Solar’s photovoltaic modules against deterioration in performance, through what they claim is a first-of-its-kind policy. More...

 

Standard to aid companies on climate reporting
28 May: Corporations wanting to report data relevant to climate change now have a standard procedure to follow, with the launch of a draft framework by the Climate Disclosure Standards Board this week. More...

 

Brazil boosts biodiesel blending requirement to 4% (from Bioenergy Business)
28 May: Biodiesel producers in Brazil cheered the government's decision last week to increase the compulsory biodiesel blend from 3% to 4% of diesel fuel, beginning on 1 July. More...

 

Nominations open for Environmental Finance annual awards
21 May: Environmental Finance is soliciting nominations for its annual awards – which aim to recognise excellence in applying capital markets know-how to solving the world’s environmental problems. More...

 

Waxman moves House closer to Senate on renewables
21 May: The loosening of renewable energy targets in the proposed US House of Representatives climate and energy bill brings its provisions closer to Senate renewables proposals – making federal targets more likely, say observers. More...

 

CCX leads doubling of voluntary market volumes – report
21 May: Voluntary carbon markets doubled in size and value in 2008, consistent with the trend in 2007 and in line with earlier predictions, according to a report released yesterday. More...

 

Market welcomes UN negotiating texts (from Carbon Finance)
21 May: Carbon market participants have welcomed the publication of three negotiating texts for a post-2012 climate change treaty, despite them showing the mountain of work that needs to be done before December’s Copenhagen talks. More...

 

Energy chiefs bullish on renewable support
21 May: Senior executives in the energy industry predict that subsidies for renewable energy will increase during the next year, despite economic troubles that have plagued the globe, according to a KPMG mergers and acquisitions report. More...

 

Biopetrol chief slams German government for bringing biodiesel sector low (from Bioenergy Business)
21 May: The chief executive of biodiesel producer Biopetrol Industries launched a stinging attack on Germany's politicians – including the Chancellor Angela Merkel – for almost destroying the country's biodiesel sector through double standards, egoism, bowing to special interests and politicking. More...

 

Investors call for stronger carbon market
21 May: An alliance of institutional investors managing €4 trillion in assets has called for carbon markets to be strengthened and broadened – but is also calling for alternative policies to attract climate-related investments in developing countries. More...

 

Faulty turbines deepen losses at Clipper Windpower
21 May: Losses widened to $313.3 million at Clipper Windpower in 2008, as the wind turbine maker was forced to spend $300 million over two years fixing faults. More...

 

Despite Array, clouds on horizon for UK offshore wind
14 May: The UK government will have to extend its additional subsidy for offshore wind, or the industry will have to cut its costs, if the UK’s medium-term targets for renewable energy are to remain in sight, according to bankers and analysts. More...

 

EU, US renewables growth outstrips conventional sources
14 May: More renewable energy than conventional power capacity was added in both the EU and the US for the first time in 2008, according to the annual report from stakeholder group REN21. More...

 

EBRD earmarks €3-5bn for sustainable energy
14 May: The European Bank for Reconstruction and Development has unveiled plans to invest €3 billion-5 billion ($4 billion-7 billion) in the second phase of its Sustainable Energy Initiative, over 2009-11. More...

 

Bigger role for international offsets in US carbon market? (from Carbon Finance)
14 May: Rumours are circulating that international offsets are to play a greater role in compromise climate legislation under preparation by the US House of Representatives' energy and commerce committee. More...

 

WWF slams Commission proposal on carbon leakage
14 May: The European Commission’s plans to offer the EU’s biggest polluters free emissions allowances to protect them from overseas competition could undermine the bloc’s climate change credibility and reduce its clout in Copenhagen, warned the WWF today. More...

 

VC investment in clean-tech plummets – Ernst & Young
14 May: The economic gloom caused a significant drop in US venture capital investment in clean technology firms in the first quarter of 2009, according to Ernst & Young. More...

 

REG merges with single-plant biodiesel producers (from Bioenergy Business)
14 May: US company Renewable Energy Group has announced a plan to merge with three commercial-scale biodiesel plants in a move designed to better position the company to meet higher demand. More...

 

May issue of Carbon Finance out now
14 May: The May issue of Carbon Finance is now available, including the latest on negotiations for a US cap-and-trade bill. More...

 

Wrangling threatens Waxman’s cap-and-trade timetable (from Carbon Finance)
7 May: Closed-door negotiations are continuing on a US federal cap-and-trade proposal after President Barack Obama urged Congressional Democrats to resolve key differences in the hope of passing comprehensive climate change legislation this year. More...

 

Canadian hedge fund seeks carbon profits (from Carbon Finance)
7 May: Blue Marble Capital Partners has launched a hedge fund to invest in securities set to benefit from the “global transition towards carbon-constrained societies”, including carbon credits. More...

 

US biofuels stimulus package provides mixed relief for producers (from Bioenergy Business)
7 May: US ethanol producers praised efforts by President Barack Obama’s administration to aid the struggling biofuels sector, but vowed to keep pushing to prevent the inclusion of indirect land-use change in the assessment of the environmental impacts of domestic ethanol production. More...

 

‘Pro bono’ efforts to target low-carbon projects
7 May: A novel approach to help accelerate reductions of greenhouse gas emissions is being developed by London-based law firm Travers Smith and a group of like-minded UK companies. More...

 

Guidelines created to help free up finance for energy efficiency
7 May: A set of guidelines to help financial institutions evaluate the risks and quantify the benefits of energy efficiency investments has been launched by the Washington, DC-based non-profit Efficiency Valuation Organization. More...

 

Real estate fund managers link sustainability and returns
7 May: A resounding 95% of real estate fund managers believe there is a relationship between environmental performance and financial returns, according to a survey of UK and European property funds. More...

 

BAT issues second report on sustainable smoking
7 May: British American Tobacco published its 2008 sustainability report last week, outlining its approaches to reduce the harm caused by tobacco products and announcing targets to lessen its environmental impact. More...

 

SEB sees more demand for World Bank climate bonds
30 April: A third World Bank climate bond issue is in the wings, Environmental Finance has learned from the Swedish bank that has placed the previous two issues. More...

 

HSBC hits €117m for 1st close of green infrastructure fund
30 April: HSBC has raised €117 million ($156 million) of a targeted €500 million into its Environmental Infrastructure Fund. More...

 

Commission slams 'patchy progress' on EU renewables goals
30 April: The EU is unlikely to meet renewable energy targets set for 2010, according to a report by the European Commission, which forecasts renewables will make up 19% of the bloc's electricity supply and 4% of the transport fuels by next year.
More...

 

First Wind scores financing for major Utah project
30 April: Californian wind farm developer First Wind has secured $376 million to finance the first phase of a 203.5MW wind farm in Utah, involving a syndicate of nine banks. More...

 

EPA sees CAIR replacement in two years
30 April: The Environmental Protection Agency hopes to have an emissions control programme to replace the rejected Clean Air Interstate Rule established in two years, according to a top EPA official. More...

 

Ethanol sector unites against California's land-use ruling on emissions (from Bioenergy Business)
30 April: Ethanol supporters sharply criticised what they perceive to be unfair treatment of biofuels in California’s controversial low-carbon fuel standard adopted last week. More...

 

IFC to invest in growth-stage clean-tech firms
30 April: The International Finance Corporation is to begin financing growth-stage clean technology companies as part of its efforts to promote environmentally sustainable businesses in developing economies. More...

 

Japan opposition floats climate bill (from Carbon Finance)
30 April: Japan’s largest opposition party has introduced a bill calling for an ambitious 25% cut in greenhouse gas emissions from 1990 levels by 2020. More...

 

Clean-tech angel investors launch ‘network of networks’
30 April: Three angel investors have launched a ‘network of networks’ aimed at boosting the profile of very early-stage investment in clean-tech firms. More...

 

EcoSecurities founder quits
23 April:The co-founder and president of EcoSecurities, one of the oldest companies in the carbon trading business, has resigned “to pursue other interests”, the company announced today. More...

 

Enel may sell half of renewables business
23 April: Italian utility Enel could sell up to 49% of its renewable energy unit, CEO Fulvio Conti said yesterday, to potentially net up to €6 billion ($7.8 billion). More...

 

EPA GHG ruling opens alternative path for regulation (from Carbon Finance)
23 April: In a long-anticipated move, the US Environmental Protection Agency ruled on Friday that carbon dioxide and the five other Kyoto Protocol greenhouse gases (GHGs) pose a danger to human health – opening up an alternative avenue for GHG regulation, should Congress not pass climate change legislation. More...

 

US renewables standard unachievable, say legislators
23 April: Several US states would find it impossible to meet a proposed federal standard on renewable energy generation, legislators complained during hearings this week. More...

 

Industry welcomes Budget boost for UK low-carbon sector
23 April: The UK’s 2009 Budget, unveiled yesterday, promises a boost to the development of a low-carbon economy, according to industry groups. More...

 

Industry gives cautious welcome to UK report on emissions from biomass (from Bioenergy Business)
23 April: Industry has given a qualified welcome to a report from the UK’s Environment Agency that calls on the government to consider setting minimum standards for greenhouse gas emissions from biomass projects. More...

 

Financial sector lagging badly on ESG – EIRIS
23 April: The financial sector is the worst performer in terms of managing environmental, social and governance risks, and has shown the least improvement over the last three years, according to a study from Ethical Investment Research Services. More...

 

Triodos mulling €300 million wind energy securitisation
16 April: Ethical bank Triodos is considering securitising a part of its portfolio of loans to renewable energy projects, to allow it to increase its lending to the sector. More...

 

EU 2008 emissions data ‘masks pain’ of 2009 economy (from Carbon Finance)
16 April: The shortfall of EU Emissions Trading Scheme allowances in 2008 was greater than many analysts expected, providing support to carbon prices – but the data does not reflect the extent of economic contraction, participants have warned. More...

 

Chicago exchange to list REC futures
16 April: Market participants embraced the Chicago Climate Futures Exchange decision to list renewable energy certificate futures, but there are questions about the potential liquidity of the contracts. More...

 

Aventine partly blames biofuel blending credits for bankruptcy (from Bioenergy Business)
16 April: US ethanol producer Aventine Renewable Energy claimed that the increased use by fuel refiners and blenders of excess tradeable biofuel credits to meet their blending targets had helped to push it into Chapter 11 bankruptcy last week. More...

 

Eurosif calls for EU intervention on ESG disclosure
16 April: The EU should force companies and institutional investors to disclose more information on how they are dealing with environmental, social and governance issues, the European Sustainable Investment Forum has said. More...

 

Business reports on ‘Stern review’ of nature
16 April: A major study on the economic importance of nature is seeking input from businesses across all sectors. More...

 

IFC and FT announce sustainable banking awards shortlist
16 April: The International Finance Corporation and the Financial Times have released the shortlist for their annual sustainable banking awards. More...

 

April issue of Carbon Finance out now
16 April: The April issue of Carbon Finance is now available, including an analysis of how China’s latest stimulus package provides investment opportunities for emissions project developers. More...

 

Norwegian fund proposes $3 billion green investments
9 April: Norway’s finance minister had proposed that the government’s $39 billion pension fund allocates $3 billion to sustainable investments – potentially the largest such allocation ever made. More...

 

No clean-tech rally before 2010 – BoA
9 April: Investors hoping that clean technology will be able to beat the market in 2009 look to be disappointed, Banc of America Securities-Merrill Lynch said this week. More...

 

Investors eye forestry, water opportunities in tough markets
9 April: US investors have deserted the green investment space, according to analysts and investors speaking at a recent environmental markets conference in New York. More...

 

ICF sees EUA prices breaching €70 by 2020 (from Carbon Finance)
9 April: The failure of the EU to meet its 2020 renewable energy targets could see EU allowance prices hitting €70 ($93) by that date, according to consultancy ICF International. More...

 

UK set to unveil bioenergy sustainability policy (from Bioenergy Business)
9 April: The UK's Environment Agency will in a fortnight unveil its policy on the greenhouse gas emissions produced by bioenergy in its full life-cycle, from the growing of feedstock crops to consumption. More...

 

Asset4 aims to plug gaps in corporate carbon data
9 April: Environmental and social data provider Asset4 has launched a product to help plug the gaps in the timeliness and completeness of corporate carbon disclosure. More...

 

Climate Group rebuts attack on Climate Principles
9 April: The Climate Group has hit back at claims that the Climate Principles are “meek” or “window dressing”, but acknowledged that “more action” is required from the finance sector to tackle climate change. More...

 

E.Capital Partners launches water index
9 April: E. Capital Partners has launched an environmentally-screened index to track global water stocks “best positioned to capture the opportunities arising from the challenges of the declining water availability”. More...