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Carbon credit write-downs hit project developers
01 December 2007Downward revisions to the carbon credit portfolios of London-listed developers Camco and EcoSecurities have driven down their share prices in November. Meanwhile, shares in another developer, AgCert, hit a new low as it faces serious delivery problems for next year.
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New Forests plans Malaysian 'biodiversity bank'
01 December 2007Buyers and sellers of palm oil are to be offered 'biodiversity offset' credits, in an innovative conservation finance scheme to preserve a crucial area of Malaysian rainforest.
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Generation raising private equity fund
01 December 2007Generation Investment Management, the sustainability-orientated asset management company run by Al Gore and former Goldman Sachs executive David Blood, is raising money into a private equity fund. The fund – which will focus on companies offering solutions to the challenge of climate change – is expected to be unveiled early in 2008, and follows the announcement of an alliance between Generation and leading Silicon Valley venture capital firm Kleiner Perkins Caufield & Byers (KPCB).
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ATA slams EU move on aviation emissions
01 December 2007A decision by the European Parliament for tougher targets and a stricter timetable to include aviation in the EU Emissions Trading Scheme (ETS) has drawn an angry response from the sector – while a recent report shows it is substantially unprepared for emissions caps.
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Business backs offset standard
01 December 2007Business groups have launched the second version of a standard designed to boost the credibility of the voluntary carbon market – but a leading environmental group has slammed it as full of loopholes.
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Costs add latest hurdle for US offshore wind
01 December 2007While beachfront residents in the US continue to fight planned offshore wind farms, cost has emerged as another barrier to getting the country's first offshore project operating.
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REC tops Sarasin solar ranking
01 December 2007Bank Sarasin has produced a global ranking of the top solar photovoltaics (PV) firms, placing the Norwegian company REC at the top of the class.
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People moves this month
01 December 2007ALEX VAN DER VELDEN, the executive director of FairPensions, is leaving the UK-based charity to take up a new post at Dutch pensions giant PGGM. He will be joining PGGM – which provides pensions for healthcare workers, and has €88 billion under management – as head of its responsible investment portfolio.
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Businesses demand climate action
01 December 2007Tackling climate change is essential for economic growth, according to the leaders of 150 global companies. "As business leaders, it is our belief that the benefits of strong early action on climate change outweigh the costs of not acting," they say.
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UNDP calls for low-carbon fund
01 December 2007The UN Development Programme (UNDP) has called for the creation of a fund to manage the expected $25 billion–50 billion annual investment in low-carbon energy projects to mitigate climate change in developing countries.