News

• 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.

• Cat bond market hots up as investors pile in

  27 August 2009

  Growing interest in catastrophe (cat) bonds and a lack of major disasters is helping to drive up prices – and market participants are expecting a wave of issuances as the risk premium demanded by investors returns to pre-crisis levels.

• Carbon VAT fraudsters eyeing other environmental markets?

  27 August 2009

  Market participants have expressed fears that fraudsters who have targeted European carbon allowances may turn to other environmental markets, with brokers reporting an increase in requests to trade renewable energy certificates (RECs).

• Sugar-to-biofuels firm Amyris raises $25m

  26 August 2009

  California's Amyris Biotechnologies has raised $24.7m to pursue development of its technology to convert sugar cane into biofuels and useful chemicals.

• Norway sovereign fund to focus on water risk

  20 August 2009

  Norway's $394 billion sovereign wealth fund has identified water supply as a risk to 11% of its portfolio – adding the issue to climate change and a number of social concerns on which it will pressure the companies in which it invests.