News

• Cat bond market hits all-time high, despite Sandy

  05 March 2013

  The catastrophe (cat) bond market closed 2012 at an all-time high value of $14.6 billion, and is seeing a strong inflow of funds from global investors, according to reinsurance giant Swiss Re.

• RWE drops renewables target amid funding concerns

  05 March 2013

  German energy giant RWE today stepped away from a target to increase the share of renewables in its portfolio to 20% by 2020, blaming difficulties in accessing funding.

• UK businesses 'must prepare' for extreme weather

  05 March 2013

  The chairman of the UK's Environment Agency has urged businesses to plan for a changing climate, after the country was hit by both flooding and drought last year.

• Smaller oil companies face downgrades on carbon constraints – S&P

  04 March 2013

  Smaller oil companies could see their credit ratings downgraded within the next few years if climate policies dent demand for the commodity, analysts at Standard & Poor's (S&P) have warned.

• Centrica 'raising £1.8bn' to build offshore wind farm

  04 March 2013

  UK utility Centrica is seeking £1.8 billion ($2.7 billion) to help fund the construction of its 580MW Race Bank offshore wind farm, according to reports.

• India's budget to 'spur investments' in renewables

  04 March 2013

  India has announced a range of incentives for renewable energy in its latest budget, in a move likely to help the sector recover after a lacklustre 2012.

• GCCSI opens Beijing office

  04 March 2013

  The Global Carbon Capture and Storage Institute (GCCSI) has opened an office in China and signed a memorandum of understanding with one of the country's biggest oil and gas companies.

• South Africa's updated carbon tax plan 'firmer' despite delay

  01 March 2013

  South Africa has delayed introducing a carbon tax until 2015, but the publication of more detailed plans for the measure has fuelled hopes that it will be implemented.

• Continental bows to investor pressure on gas flaring

  01 March 2013

  Continental Resources, one of the largest oil producers in North Dakota's Bakken region, has committed to reduce natural gas flaring from its well sites to "as close to zero percent flaring as possible".

• Dong targets 40% reduction in offshore wind costs

  01 March 2013

  Offshore wind farms brought into service in 2020 should be able to sell power into the UK market at €100 ($130)/MWh, a 40% lower cost than at present, Dong Energy has said.