News

• Citi pledges $2.25bn to efficient and distributed energy projects

  12 May 2014

  Citi plans to step up its activities in US energy efficiency and distributed energy generation, after setting a new financing target of $2.25 billion, marking a significant increase on its previous goal.

• BoA climate risk disclosure plan supported by 15% of shareholders

  09 May 2014

  Over 15% of shareholders at Bank of America (BofA) have supported a proposal to improve environmental impact disclosure at the bank.

• Neil Woodford buys stake in Leaf Clean Energy

  09 May 2014

  Neil Woodford, arguably the UK's most famous fund manager, has taken a significant share in a US-based company that invests in renewables firms.

• €35m raised for Irish energy efficiency fund as it inks first deal

  09 May 2014

  The Irish government has launched an energy efficiency fund after reaching a €35 million ($48 million) first close, with more than half the capital coming from the private sector.

• Chinese company 'plans carbon-linked note'

  08 May 2014

  A wind power subsidiary of China General Nuclear Power Group (CGN) is planning to issue up to 1 billion yuan ($160 million) of medium-term notes whose coupon is linked to the price of carbon credits, according to a Reuters report.

• Lloyd's urges insurers to prepare for climate change risks

  08 May 2014

  Insurers should take climate change into account in their modelling of catastrophe risks, Lloyds of London warns in a new report. This may require them to hold additional capital as protection against climate-related risks, said Trevor Maynard, the exchange's head of exposure management and reinsurance.

• Free fund managers from 'tyranny of benchmarks', says former Schroders CIO

  08 May 2014

  Asset managers must be freed from the "tyranny" of being measured against benchmark indexes to help them address the risk of stranded carbon assets in their portfolios, a former chief investment officer at Schroders has claimed.

• Asia Green Capital gets IFC support for Indonesian renewables projects

  08 May 2014

  Asia Green Capital Partners, a Singapore-based investment firm, has entered an agreement with the International Finance Corporation (IFC) to develop wind and solar projects in south-east Asia, particularly Indonesia.

• $1.1trn of oil investment faces stranded asset risk, warns report

  08 May 2014

  Most of the oil reserves at risk of becoming 'stranded' as a result of action to curb climate change are held by private companies, warns a report from the Carbon Tracker Initiative (CTI).

• First Solar reports strong Q1 results, raises 2014 forecasts

  07 May 2014

  First Solar, a leading maker of photovoltaic panels and developer and operator of power plants, has posted a 90% increase in first quarter profits and raised its earnings forecasts for the full year.