News

• FTSE4Good drops seven firms on climate change

  01 April 2008

  Chemical firms Lanxess and Eastman, German cement manufacturer Heidelberg­Cement and Scottish oil and gas firm Cairn Energy are among seven companies deleted from the FTSE4­Good index family for failing to meet its climate change criteria. They failed either to have adequate governance systems or policies in place, or adequately disclose climate change information.

• US renewables sector voices concerns as latest PTC extension stalls

  01 March 2008

  US renewable energy associations are warning that the second recent failure to extend a crucial tax credit risks putting the brake on renewable energy investment, well ahead of its expiry at the end of this year.

• Bank of America sets up green investment group

  01 March 2008

  Bank of America has announced the launch of an "environmental strategic investments group", as part of its $20 billion environmental investment commitment.

• Bush mercury rules go up in smoke

  01 March 2008

  A US court has struck down Environmental Protection Agency (EPA) plans to introduce a cap-and-trade scheme for mercury pollution from power plants.

• ADB safeguard policy review under fire

  01 March 2008

  The Asian Development Bank (ADB) is under pressure over plans to change the environmental and social standards projects must fulfil to receive a loan, after at least two NGOs quit the consultation process in protest.

• Carbon project pioneer applies for court protection

  01 March 2008

  Dublin-based carbon project developer AgCert has applied to the Irish courts for protection from its creditors, under a process called 'examinership'.

• US carbon market could hit $1 trillion by 2020

  01 March 2008

  The value of the US carbon market could reach $1 trillion in 2020, if the US closes the door to cheap international credits, says New Carbon Finance (NCF). Such a move would raise carbon prices to $40/tonne of carbon dioxide (CO2), adding 20% to power prices, 10% to the cost of natural gas and 12% to petrol prices at the pump.

• EDP plans renewables spin-off

  01 March 2008

  Energias de Portugal (EDP) has announced plans to float around 25% of its renewable energy unit, despite the current unfavourable market conditions. However, analysts say the Portuguese utility is nonetheless likely to be able to pull off the deal.

• Investors sign up to $10bn climate action plan

  01 March 2008

  Almost 50 institutional investors signed up to a 'climate risk action plan' last week, which includes a promise to plough $10 billion into clean technology within two years.

• SAM doubles AUM in 07

  01 March 2008

  Sustainable Asset Management (SAM) has increased its assets under management to Sfr8.5 billion ($8.1 billion) in its 2007 financial year, an increase of 125% on the previous year. Including the assets on which it advises, the figure is Sfr15 ­billion.