News

• US climate, energy compromises emerge

  01 April 2009

  Two leading US congressmen have unveiled draft energy and climate change legislation, as President Barack Obama signals that he is prepared to be flexible on one of the most contentious issues of a federal cap-and-trade system – auctioning carbon allow­ances.

• EU power sector commits to 'carbon neutrality

  01 April 2009

  European electricity companies have pledged to become carbon neutral by 2050, by reducing their greenhouse gas emissions as far as possible and offsetting any unavoidable emissions.

• Element closes $486m clean-tech equity fund

  01 April 2009

  Element Partners has closed a $486 million clean technology growth equity fund, Element Partners II, exceeding its original $400 million target for the fund.

• Catastrophe bond market bounces back

  01 April 2009

  Insurance companies successfully sponsored $575 million of natural catastrophe (cat) bonds in the first quarter of 2009, marking the end of a six-month hiatus caused by the collapse of Lehman Brothers and the general malaise in financial markets.

• Warning issued on government carbon trades

  01 April 2009

  Government-to-government sales of Kyoto Protocol carbon emissions allow­ances have been steadily gathering momentum, with three deals signed in March – including the largest single such sale to date – prompting industry body the International Emissions Trading Association (IETA) to caution on how the proceeds are used.

• VCS registry launched

  01 April 2009

  The first Voluntary Carbon Standard (VCS) credits were issued last month, following the long-awaited launch of registries for the offset standard.

• Germany, UK reveal large EUA shortfalls

  01 April 2009

  The UK and Germany have posted a "staggering" EU allowance (EUA) shortfall, representing more than 140 million tonnes of carbon dioxide (tCO2) for last year – with more installations yet to report.

• Climate Exchange profits up

  01 April 2009

  Pre-tax profits more than trebled at Climate Exchange, operator of the leading US and European carbon exchanges, as volumes continue to grow.

• VeraSun ethanol plants in Nebraska could restart soon, claims state agency

  01 April 2009

  Nebraska's ethanol sector could get a boost from the auction of bankrupt VeraSun Energy as three of the company's idled facilities could restart soon, according to Todd Sneller, administrator of the Nebraska Ethanol Board in Lincoln.

• Water quality trading likely to grow – WRI

  26 March 2009

  Growing problems over water quality means more trading programmes are likely to be introduced, according to a study from the World Resources Institute. But, to be effective, they must have strong drivers to create demand for credits