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Record year for cat bonds – report
01 April 2007A record 20 catastrophe (cat) bonds, worth $4.69 billion, were issued last year, more than doubling the previous record, of $1.99 billion in 2005, according to a review of the market by Guy Carpenter. The reinsurance broker's fifth annual report, Ripples into Waves, also found a wider variety of catastrophe risks securitised than hitherto, and a wider variety of risk profiles.
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FPL becomes world's largest wind generator
01 April 2007Florida independent power producer FPL Energy has become the world's largest wind energy owner, according to consultancy Emerging Energy Research (EER). The company – with 4,016MW of wind capacity at the end of 2006, up 25% on the year – edged out Spain's Iberdrola, on 3,208MW, following a number of major US projects coming on line.
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Canada's budget less green
01 April 2007The Canadian government has earmarked C$4.5 billion ($3.9 billion) in its 2007 federal budget to "clean our air and water, reduce greenhouse gases and combat climate change, as well as protect our natural environment," the government wrote in its submission to parliament.?
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$230bn clean energy market in 10 years
01 April 2007Revenues from clean energy will grow to $226.5 billion in the next decade, up from $55.4 billion last year, according to Clean Edge.
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Cleantech VC investing doubles – report
01 April 2007Venture capital invested in the cleantech sector globally hit $1.28 billion last year, in 140 financing rounds, up from $664 million in 103 rounds in 2005, according to research from Ernst & Young and Dow Jones VentureOne.
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E. Capital launches climate change index
01 April 2007E. Capital Partners has launched an index to track companies likely to benefit from efforts to tackle climate change.
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CME launches weekly weather contracts
01 April 2007The Chicago Mercantile Exchange (CME) is adding weekly weather futures and options to its weather derivative contracts. The CME – which lists monthly and seasonal heating degree day and cooling degree day contracts on 35 cities around the world – is to add weekly contracts on temperatures in 18 US cities from 2 April.
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Repower bidding war hots up
01 April 2007Areva has raised its offer for German wind turbine manufacturer Repower to €140 ($187) a share, trumping the €126 bid that Indian wind turbine maker Suzlon made in early February.
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Western US states to form GHG market
01 April 2007The US states of Arizona, California, New Mexico, Oregon and Washington have agreed a regional initiative to reduce greenhouse gas (GHG) emissions.
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Parliamentarians push for G8+5 climate deal
01 March 2007A group bringing together legislators from both the major industrialised and developing countries has reached an agreement on climate change that its organisers hope will feed into G8 talks on the issue.