News

• Cheviot eyes October launch for climate fund

  01 September 2009

  UK-based Cheviot Asset Management is hoping to launch a sustainability-orientated investment fund in October with £20 million ($32 million) in commitments, according to its recently appointed portfolio manager Claudia Quiroz (see People, page 14).

• CCC to manage Russell equity fund

  01 September 2009

  US-based Russell Investments has launched an equity fund that aims to outperform by "investing in a manager that takes high-conviction active positions in companies that are affected by climate change".

• World's biggest firms must double carbon cuts – CDP

  01 September 2009

  Many of the world's 100 largest companies are setting targets to cut their greenhouse gas (GHG) emissions, but they must double the pace of action to avoid dangerous climate change, a report by the Carbon Disclosure Project (CDP) and UK telecoms firm BT has concluded.

• Solar PV firms 'fighting for ­survival' amid price collapse

  01 September 2009

  Falling prices and demand for solar photovoltaic (PV) cells and modules are causing pain for some of the largest companies in the solar sector, which may have to wait until 2010 to feel the benefit of renewable energy stimulus packages, analysts say. Meanwhile, technology giant Bosch announced plans to take over two German solar companies – potentially representing the largest clean-tech deal since the financial crisis and heralding likely consolidation in the sector.

• China steps up renewables support

  01 September 2009

  China in late August considered measures to strengthen its Renewable Energy Law, following the July launch of a programme to subsidise at least 500MW of solar power installations and introduction of a long-awaited fixed feed-in tariff for wind power projects. Additional policy support for renewable energy is expected by the end of the year.

• African renewable energy fund targets $1bn

  01 September 2009

  The African Biofuel & Renewable Energy Fund (Abref) has selected London-based investment manager Principle Capital to manage a potentially $1 billion fund that will invest in biofuels, bioenergy, energy efficiency and renewable energy projects.

• Australian Senate rejects emissions trading, supports renewables

  01 September 2009

  The Australian Senate voted down the government's emissions trading legislation last month, but later passed legislation that commits the nation to generating 20% of its electricity from renewables by 2020, after the government secured the support of the main opposition coalition.

• Investors' votes add climate pressure on companies

  27 August 2009

  Activist shareholders are seeing growing support from investors in US and Canadian companies for climate change-related resolutions, according to Ceres. One such climate vote at Idacorp, an Idaho-based utility, was the first time an environmental shareholder resolution has passed in 30 years, Ceres said.

• India plans energy efficiency trading scheme

  27 August 2009

  India's prime minister this week unveiled an energy efficiency trading system designed to save 5% of the country's energy consumption, and 100 million tonnes of carbon dioxide (CO2) annually, by 2015. The initiative – which is expected to cover around 700 installations – is to be underpinned by a market in tradable energy efficiency certificates.

• World's biggest firms must double pace of carbon cuts – CDP

  27 August 2009

  Many of the world's 100 largest companies are setting targets to cut their greenhouse gas (GHG) emissions, but they must double the pace of action to avoid dangerous climate change, a report by the Carbon Disclosure Project (CDP) and UK telecoms firm BT has concluded.