News

• Westpac to shun emissions-intensive deals

  18 November 2010

  Australian bank Westpac says it will "avoid" transactions that support emissions-intensive projects as part of the bank's efforts to facilitate a transition to a low-carbon economy.

• Exelon earmarks $5bn for clean energy

  18 November 2010

  US utility Exelon is to invest nearly $5 billion in low-carbon energy projects starting this year, as part of plans to cut carbon dioxide emissions by more than 15 million tonnes a year by 2020.

• Deutsche Bank sets out low cost, low carbon energy plan for the US

  18 November 2010

  Deutsche Bank has outlined a low-energy plan for the US, which sees a mix of natural gas, renewables and nuclear replacing old coal plants to achieve a 44% reduction in carbon dioxide by 2030.

• 'Huge potential' for water impact on investors, but response limited

  18 November 2010

  Investors are failing to factor water risk into their investment decisions because of a lack of information, according to a leading activist investor.

• Italian solar projects to be refinanced with €200m bond sale

  18 November 2010

  SunPower Corporation will refinance two Italian solar parks through €200 million ($273 million) in investment-grade bonds.

• CalPERS puts $500m to work in climate strategy

  18 November 2010

  The California Public Employees' Retirement System (CalPERS) is investing $500 million in an environmental strategy based on HSBC's Global Climate Change Benchmark Index.

• US renewables lobby calls for two more years of cash grants

  18 November 2010

  The US renewable energy sector does not need the pivotal cash grant programme to become permanent, with a two-year extension sufficient to help the industry survive the economic downturn.

• US to raid loan guarantees to save clean energy grants?

  11 November 2010

  The US midterm elections may have dealt a fatal blow to the federal cash grant and loan guarantee programmes for the clean energy sector, and financiers and developers are cool on a plan to sacrifice one programme to save the other.

• IEA predicts $5.7tr of renewables investment by 2035

  11 November 2010

  $5.7 trillion must be invested in renewables by 2035, even under the International Energy Agency's more conservative forecast – which would still result in global warming of 3.5°C. In 2009, $115 billion was invested in renewables, by comparison.

• UK's green bank needs 'quick wins'

  11 November 2010

  The UK's proposed Green Investment Bank (GIB) should focus on "quick wins" and offer, for example, financial products that reduce the cost of mezzanine debt for offshore wind projects, according to a leading investment banker.