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Europe eyes limited renewables trading
01 February 2008The European Commission has set out country-by-country targets on renewable energy and opened the door to limited certificate trading between member states, as part of its energy and climate change proposals.
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2007 strong year for renewables, clean-tech, carbon
01 February 2008Although investors may be looking nervously to the year ahead, a raft of figures from 2007 show it was a banner year for renewables, clean technology venture investing and trading in the carbon markets.
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Nymex, Evolution launch environmental exchange
01 February 2008The New York Mercantile Exchange (Nymex) and US-based brokerage Evolution Markets have teamed up with a number of investment banks to launch an environmental commodities exchange.
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Catastrophes wreak $75 billion of havoc in '07
01 February 2008Natural catastrophes caused $75 billion of economic losses in 2007 and killed 15,000 people, according to Munich Re, which blamed climate change for at least part of the damage. Insurers were left with a bill of just under $30 billion.
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Lloyd's insurers back ForestRe
01 February 2008Four Lloyd's syndicates are to provide insurance capacity for ForestRe, a company formed to underwrite forestry plantations. The company – which is aimed at the growing volumes of institutional investment moving into forestry – will focus on conventional timber revenues. However, it is also eyeing the environmental benefits provided by the world's forests, its managing director said.
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US passes energy bill
01 February 2008A US energy bill signed into law in December will raise vehicle fuel economy standards, and promises a big boost for biofuels, but was stripped of some key renewable energy provisions.
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People moves this month
01 February 2008US investment bank JPMorgan has bolstered its environmental markets team with a series of hires in recent weeks. BEN FELDMAN joins as an executive director and environmental markets strategist in New York, from carbon asset manager Natsource where he was managing director, advisory and research services.
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BNP Paribas takes 30% stake in Impax
01 February 2008BNP Paribas Investment Partners has invested approximately £11 million ($22 million) in Impax Group, a London-listed environmental investment manager, raising its holding to 29.4%.
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Banks making slow progress on climate issues
01 February 2008The banking sector has "a long way to go" in confronting the challenges posed by climate change, according to a report from Ceres, a US-based coalition of investors and environmentalists.
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IETA names new president
01 February 2008The International Emissions Trading Association (IETA) has appointed senior UK civil servant Henry Derwent as its new president and CEO, replacing Andrei Marcu.