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Hurricane Dean to cost insurers up to $3 billion
01 September 2007Insured losses from Hurricane Dean are likely to be between $1.5 billion and $3 billion, according to extreme risk modeller Eqecat, hitting the insurance sector with its second big bill this summer.
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China pledges to starve polluters of credit
01 September 2007China's top banking regulatory commission, together with its state environmental agency, has vowed to restrict lending to heavily polluting companies. The bold policy created a buzz both on and off the mainland. However, observers were cautious, citing the failure of similar government efforts and an enforcement gap between national and local banking authorities.
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ADB in $100m clean energy call
01 September 2007The Asia Development Bank (ADB) is planning to invest $100 million in up to five private equity funds focusing on renewables, energy efficiency or carbon reductions in the region. In a call for proposals, issued in July, the ADB said it aims to "significantly increase its investments in the clean energy sector in Asia through specialised private equity funds".
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NOx trading goes annual
01 September 2007Participants in the US nitrogen oxide (NOx) allowance market are beginning to trade for the 2009 annual market, at prices up to $7,000/ton, despite the fact that the Environmental Protection Agency (EPA) has not yet allocated allowances.
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Barclays' China deal raises environmental risks
01 September 2007China Development Bank (CDB) has acquired a 3.1% stake in Barclays, which could rise to 6–7%, giving the UK-based bank access to the prized Chinese market. But socially responsible investment research firm Innovest Strategic Value Advisors has raised concerns about the environmental, social and governance risk to Barclays from the deal.
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People moves this month
01 September 2007US investment bank JPMorgan has appointed KEDIN KILGORE as head of North American environmental product markets. Based in New York, Kilgore, who previously traded environmental markets at investment company RNK Capital, will be responsible for the bank's activities in greenhouse gas and renewable energy certificate markets.
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Trade in GHG permits and credits up 45%
01 September 2007Volumes in the world's carbon markets were up 45% year on year to 1.2 billion tonnes in the first six months of 2007, according to research from Point Carbon.
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Merrill launches energy efficiency index
01 September 2007Merrill Lynch has launched an index to track companies that offer energy efficiency savings.
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US Congress poised for energy, climate breakthrough
01 July 2007Hopes are high that the US Congress could pass far-reaching energy and environmental legislation in the autumn, following changes of heart from key representatives, and plans for two comprehensive Senate bills tackling greenhouse gas (GHG) emissions.
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Leaf float raises £200m for North American renewables
01 July 2007EEA Fund Management and Shaw Capital have raised £200 million ($403 million) to invest in North American renewable energy projects through London's Alternative Investment Market (AIM) market.