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Sweeping changes to clean-tech index
01 May 2007The Cleantech Group has performed major surgery on its index tracking the US clean technology (clean-tech) sector. It has shrunk the number of stocks in the Cleantech Index (CTIUS), from around 65 to 45, and the criteria for inclusion have been significantly tightened.
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Forecasters raise hurricane warning
01 May 2007Hurricane forecasters have warned that 2007 will be a more active season than they originally thought and have said there is a higher likelihood of a major hurricane making landfall.
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WeatherBill hooks up with Nephila
01 May 2007WeatherBill, a newly-launched online weather risk management service, has announced a risk capacity and collateral agreement with Nephila Capital. The deal will see WeatherBill lay off weather risk it assumes from its customers with Nephila's Nimbus Weather Fund, a hedge fund active in weather and catastrophe bond markets.
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Car emission cuts to cost up to €23 billion
01 May 2007Plans by the European Commission to reduce carbon dioxide (CO2) emissions from new cars to 120 grammes per kilometre by 2012 will cost up to €23 billion, according to an impact assessment published by the Commission.
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EU ministers push for climate co-operation
01 May 2007Europe's energy, financial, transport and agricultural policies will have to be coordinated to meet the EU's carbon goals, according to German and UK ministers.
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Bank of America praised for environment plan
01 April 2007Environmental groups are praising Bank of America (BoA) for its $20 billion, 10-year environmental programme, and hope it will put pressure on its competitors to follow.
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Bingaman proposes 15% US renewables goal
01 April 2007The US Congress is to consider bills to establish a national Renewable Portfolio Standard (RPS), with a key senator proposing a 15% share of renewable power by 2020, while a House of Representatives bill aims at 20%.
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MissionPoint closes $335m fund
01 April 2007MissionPoint Capital Partners has raised $335 million into a new private equity fund to invest in companies involved in clean energy and environmental finance, exceeding its $250 million target. MissionPoint Capital Partners Fund I will provide at least $10 million and typically $30 million in growth equity or buy-out finance for expansion-stage companies in North America and Europe.
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US-Brazil biofuels pact 'irrelevant'
01 April 2007US biofuel sources have rejected as largely irrelevant a US/Brazilian agreement last month to co-operate on biofuels, because the US refuses to abolish its $0.54/gallon ($0.14/litre) duty on imports of ethanol. The US State Department stressed: "This initiative does not include discussion of US trade, tariffs or quotas."
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Morgan Stanley JV to fund renewables projects
01 April 2007Morgan Stanley and Distributed Energy Systems have launched a joint partnership to develop and fund renewable energy projects.