News

• People moves this month

  01 November 2008

  GREG RADFORD has been appointed director for environment and social development at the International Finance Corporation (IFC), the private sector arm of the World Bank. He will oversee sustainability issues, including climate change and the IFC's management of environmental and social risks.

• Suez completes ­Econergy takeover

  01 November 2008

  Econergy International is to be de-listed, following the completion of its takeover by Suez Energy South America (SESA). On 27 October, the subsidiary of French energy giant Suez announced that its £0.45 ($0.74)/share cash bid, made in June, was "unconditional in all respects", having garnered the support of 98% of shareholders of the Americas-focused renewable energy and carbon project developer.

• Euronext and BNP index to track low-carbon blue chips

  01 November 2008

  NYSE Euronext and BNP Paribas Asset Management have launched an index tracking blue-chip European companies with the lowest carbon dioxide (CO2) emissions in their sector.

• ESG investor initiatives to merge

  01 November 2008

  The UN Principles for Responsible Investment (PRI) is to amalgamate with the Enhanced Analytics Initiative, opening up the latter's research on 'extra-financial issues' to a wider audience.

• FTSE, KLD join forces

  01 November 2008

  Two leading sustainability index providers – the FTSE Group and KLD Indexes – have entered into a strategic partnership which will include a rebranding exercise early next year. With the exception of the FTSE4Good index family, all the FTSE and KLD indexes in the sustainability space will be relaunched early in 2009 under the 'FTSE KLD' banner.

• MEPs warn of risk to EU climate package

  01 November 2008

  The Council of Ministers could gut the EU's climate and energy package in its attempt to head off opposition from some member states, leading members of the European Parliament warn.

• Smooth, if cheap, start to first US carbon market

  01 October 2008

  Prices for the inaugural auction in the first mandatory US carbon dioxide emissions trading sch­eme were at the low end of pre-auction expectations and below futures contract prices, but demand was strong and all available allowances were sold.

• Looming US?climate legislation boosts CDP response

  01 October 2008

  Anticipation of climate change regulation in the US is driving major US companies to voluntarily disclose their risks and mitigation strategies, but there is concern that underlying economic woes could steal some of the momentum from climate change initiatives.

• Investors demand SEC acts on oil and gas climate risk

  01 October 2008

  Investors are calling on the US Securities and Exch­ange Commission (SEC) to force oil and gas companies to disclose climate change risks, as the SEC considers proposals to modernise rep­orting standards.

• Hopes dim for quick fix for US clean air rule

  01 October 2008

  Hopes for a 'quick fix' to reinstate limits on emissions from power plants in the eastern US appeared dashed in late September. However, efforts are continuing to rebuild the Clean Air Interstate Rule (CAIR), after it was unexpectedly struck down by judges in July, throwing utility emissions control plans, and the US emissions markets, into turmoil.