News

• Exchanges vie for US carbon business

  01 September 2008

  Two US exchanges are listing contracts for the country's first mandatory cap-and-trade programme targeting carbon dioxide (CO2) emissions, ahead of the inaugural allowance auction on 25 September by six of the 10 states involved.

• CDM Board looks to tighten rules

  01 September 2008

  The Clean Development Mechanism Executive Board (CDM EB) is moving to address concerns over the environmental integrity of the Kyoto Protocol mechanism it oversees with an array of reforms and reviews, designed to weed out projects where the emission reductions are not 'additional' to business as usual.

• Wheb Ventures beats $100 million for new fund

  01 September 2008

  Wheb Ventures has bucked tough market conditions to hit a £57 million ($106 million) first close for its second clean technology venture capital fund. The London-based fund manager is aiming for £150 million on subsequent closes, which would make it one of the largest VC funds raised in Europe to invest in early- and growth-stage clean-tech companies.

• Blackstone launches clean-tech group

  01 September 2008

  Investment and advisory firm the Blackstone Group has established a business group to focus on investments in clean energy and to advise on renewable energy strategies across the company's assets. The team is led by James Kiggen, who joins from AllianceBernstein, bringing with him two principals, Walter Vester and Richard Troyer.

• E.ON and Dong step in to save London Array

  01 September 2008

  The future of the London Array offshore wind farm looks more secure, after E.ON and Dong Energy agreed to buy Shell's stake.

• Investors favour 'ESG' in battle of vocabulary

  01 September 2008

  Environment, social and governance (ESG) has won out in an effort to hack through the thicket of vocabulary surrounding socially responsible or sustainable investment.

• US court throws emissions markets into turmoil

  01 July 2008

  A US court has invalidated the entire Clean Air Interstate Rule (CAIR) over "fatal flaws", sending the market for sulphur dioxide (SO2) and annual nitrogen oxides (NOx) allowances into turmoil and creating enormous uncertainty about how the US is to control airborne pollutants.

• California unveils emissions plan

  01 July 2008

  The California Air Resources Board (CARB) draft scoping plan for emissions reductions has drawn a broadly positive response, although some question if the plan's ambition may face problems due to a weakening economy and transmission constraints.

• Carbon prices hit two-year, record highs

  01 July 2008

  Record oil prices have driven prices for carbon allowances (EUAs) in the EU Emissions Trading Scheme to their highest levels in more than two years, while fears of a shortage of carbon credits from projects in developing countries have pushed prices of certified emission reduction (CER) credits in the secondary market above €20 ($32) for the first time.

• Weather risk market bounces back

  01 July 2008

  The market for weather derivatives has re­gained much of the value it lost in the slump of 2006/07, as activity continues to migrate to the Chicago Mercantile Exchange (CME), the leading marketplace for trading weather risk.