The US Supreme Court has ruled against Duke Energy, the country's third largest power company, in a long-running dispute over emissions from the company's older generating plants. However, while it has been hailed by environmental groups, the ruling may not have much impact on industry, lawyers and analysts say.
The Chicago Climate Futures Exchange (CCFE), a subsidiary of the Chicago Climate Exchange (CCX), has begun listing options contracts on sulphur dioxide (SO2) allowances. These allowances, each of which represent one ton of SO2, form the underlying instruments of the cap-and-trade market used to combat acid rain in the US.
Portuguese power utility Energias de Portugal (EDP) is to buy Horizon Wind Energy from Goldman Sachs for at least $2.15 billion.
Horizon is a US-based wind power developer that owns 559MW of generating capacity with a further 997MW due to begin producing power by the end of 2007. This will make it the third largest owner of wind generation facilities in the US.
Trading of biofuel credits in the US could begin soon following the introduction by the country's Environmental Protection Agency (EPA) of rules to support legal targets for an expanded use of biofuels.
Socially responsible investment (SRI) in Canada has soared to more than C$500 billion ($440 billion) in 2006, from C$65.5 billion in 2004, according to the Social Investment Organisation (SIO), which carries out a biannual survey.
Last month, UK Foreign Secretary Margaret Beckett gave a speech on climate change to an Anglo-American business association in New York. It set out the greenhouse gas (GHG) challenge; explained what measures the EU is taking to build a low-carbon economy; and invoked the Manhattan and Apollo projects which, respectively, built the first atom bomb and put a man on the moon, as a call to arms for investment in clean technology.
Daniel Chartier and Melanie LaCount contend that as the US moves to the new Clean Air Interstate Rule, 'cap and trade' will once again deliver the desired results by building on the success of current programmes
The aims of sustainable development are changing the shape of modern banking. And, in emerging markets, it is increasingly being recognised that 'sustainable banking' can confer a competitive advantage, says Ajay Narayanan
The takeover battle for German wind turbine manufacturer Repower is moving into "stratospheric" price levels, with analysts saying that some compromise is likely between the two rival suitors, if no clear winner emerges.
Companies in the EU Emissions Trading Scheme once more emitted less carbon dioxide than they were allocated allowances in 2006, according to preliminary figures published by the European Commission. However, the extent of the oversupply remains unclear because of a lack of clarity surrounding the data released by Brussels.