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VeraSun buys US BioEnergy as biofuels shake-out advances
01 December 2007In the latest takeover move in the US bioenergy sector, VeraSun Energy is to buy rival ethanol producer US BioEnergy, to form what could be the largest ethanol producer in the US by the end of 2008.
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Australia ratifies Kyoto, sets new targets
01 December 2007Australia's incoming Labor Prime Minister Kevin Rudd has signed the nation's Kyoto Protocol ratification papers, following his decisive 24 November election victory. The new Labor government has also pledged to implement emissions trading by 2010, cut greenhouse gas emissions to 60% below 2000 levels by 2050 and source 20% of the nation's electricity from renewables by 2020.
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Iberdrola poised to hit jackpot with renewables IPO
01 December 2007Iberdrola is set to float its renewables business at the top of its projected price range – to a mixed reaction from investors.
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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.