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Shell to focus on biofuels, ditches wind and solar
19 March 2009Shell is backing away from investments in wind and solar power, as they don't fit with the oil giant's main business and the returns are unfavourable, executives said in a strategy meeting on Tuesday.
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Insurers push back on climate risk disclosure
19 March 2009Insurers operating in the US will be required to disclose the financial risks associated with climate change and the actions they are taking to mitigate those risks, following a ruling by insurance regulators.
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Electricity sector commits to 'carbon neutrality' by 2050
19 March 2009European electricity companies have pledged to become carbon neutral by 2050, by reducing their greenhouse gas emissions as far as possible and offsetting any unavoidable emissions.
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Obama rejects Lula's call for end to ethanol import tariff
18 March 2009US ethanol supporters have praised President Barack Obama for resisting pressure from Brazilian President Luiz Inácio Lula da Silva to eliminate the tariff on Brazilian ethanol imports.
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S&P, Trucost launch 'carbon efficient' stock index
12 March 2009Standard & Poor's has launched a 'carbon efficient' version of its benchmark US equity index, the S&P 500. The S&P US Carbon Efficient Index excludes the 100 most carbon-intensive components of the S&P 500, as calculated by environmental researchers Trucost, to come up with an index that has an average annual carbon footprint 48% lower than the S&P 500.
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Low-carbon economy worth £3 trillion – UK government
12 March 2009The global low-carbon and environmental sector was worth £3 trillion ($4.1 trillion) last year, according to research commissioned by the UK government.
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HSBC gets gloomier on wind turbine makers – for now
12 March 2009Investment bank HSBC has slashed its growth forecasts for the wind turbine sector for the second time in six months, and is now forecasting a 20% decline in the sector this year. However, it expects to see growth among wind farm developers and is forecasting a healthy recovery across the industry in 2010.
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Element closes $486 million clean-tech growth equity fund
12 March 2009Element Partners this week closed a $486 million clean technology (clean-tech) growth equity fund, bucking a tough fund-raising market.
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US agriculture secretary backs increase in ethanol blending limit
11 March 2009US Department of Agriculture (USDA) Secretary Tom Vilsack this week advocated increasing the ethanol content of the country's petroleum fuel from the current 10% maximum, adding to the momentum for an increase to avoid ethanol production outstripping demand.
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Investors urge better disclosure of water risk
05 March 2009Companies are largely unaware of water-related risks, or how climate change will likely exacerbate them, says a report from investor and environmentalist coalition Ceres, which urges businesses to report their 'water footprint'.