News

• US Senators try to cut ethanol import tariffs

  25 March 2009

  A bipartisan group of US Senators has introduced a bill to lower tariffs on imported ethanol, a proposal that US ethanol supporters have fiercely resisted in the past.

• Shell to focus on biofuels, ditches wind and solar

  19 March 2009

  Shell is backing away from investments in wind and solar power, as they don't fit with the oil giant's main business and the returns are unfavourable, executives said in a strategy meeting on Tuesday.

• Insurers push back on climate risk disclosure

  19 March 2009

  Insurers operating in the US will be required to disclose the financial risks associated with climate change and the actions they are taking to mitigate those risks, following a ruling by insurance regulators.

• Electricity sector commits to 'carbon neutrality' by 2050

  19 March 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.

• Obama rejects Lula's call for end to ethanol import tariff

  18 March 2009

  US ethanol supporters have praised President Barack Obama for resisting pressure from Brazilian President Luiz Inácio Lula da Silva to eliminate the tariff on Brazilian ethanol imports.

• S&P, Trucost launch 'carbon efficient' stock index

  12 March 2009

  Standard & Poor's has launched a 'carbon efficient' version of its benchmark US equity index, the S&P 500. The S&P US Carbon Efficient Index excludes the 100 most carbon-intensive components of the S&P 500, as calculated by environmental researchers Trucost, to come up with an index that has an average annual carbon footprint 48% lower than the S&P 500.

• Low-carbon economy worth £3 trillion – UK government

  12 March 2009

  The global low-carbon and environmental sector was worth £3 trillion ($4.1 trillion) last year, according to research commissioned by the UK government.

• HSBC gets gloomier on wind turbine makers – for now

  12 March 2009

  Investment bank HSBC has slashed its growth forecasts for the wind turbine sector for the second time in six months, and is now forecasting a 20% decline in the sector this year. However, it expects to see growth among wind farm developers and is forecasting a healthy recovery across the industry in 2010.

• Element closes $486 million clean-tech growth equity fund

  12 March 2009

  Element Partners this week closed a $486 million clean technology (clean-tech) growth equity fund, bucking a tough fund-raising market.

• US agriculture secretary backs increase in ethanol blending limit

  11 March 2009

  US Department of Agriculture (USDA) Secretary Tom Vilsack this week advocated increasing the ethanol content of the country's petroleum fuel from the current 10% maximum, adding to the momentum for an increase to avoid ethanol production outstripping demand.