News

• Mixed outlook for clean-tech VC in '09 Mixed outlook for clean-tech VC in '09 Mixed outlook for clean-tech VC in '09 Mixed outlook for clean-tech VC in '09

  01 February 2009

  Clean-tech companies are set to escape a predicted slow-down in venture capital funding in 2009, according to a survey by the US National Venture Capital Association (NVCA). But the Cleantech Group – a US-based analysis company – is predicting a drop in investments from a record $8.4 billion in 2008 to $7 billion in 2009 as a result of the economic downturn.

• Catastrophes hit hard in 2008

  01 February 2009

  Natural and man-made catastrophes killed at least 220,000 people in 2008, and caused more than $200 billion in damages, making it one of the worst years on record in economic terms.

• Collapsing carbon price bodes ill for emissions, CDM

  01 February 2009

  The slump in carbon prices as Europe's economy cools will delay investment in emission reductions, and is threatening Clean Development Mechanism (CDM) projects across the developing world, analysts say.

• Carbon market volumes up 80%

  01 February 2009

  The carbon market was worth more than $100 billion last year, up more than 80% year-on-year, according to analysts New Carbon Finance (NCF) and Point Carbon. But the growth rate this year is set to be slower, with London-based NCF predicting that the market's value will be $150 billion in 2009, up just 27% on 2008.

• Norway puts €30m into carbon fund

  01 February 2009

  The Norwegian government has invested €30 million in the Nordic Environment Finance Corporation's Carbon Fund.

• UK offshore wind build in doubt

  29 January 2009

  The UK has the capacity for up to 7,000 more offshore wind turbines, according to a UK government study, but, as trouble continues to dog the flagship London Array project, observers say this potential may not be realised.

• Renewables lobby takes cheer from House stimulus vote

  29 January 2009

  Voting along party lines, the US House of Representatives approved an economic stimulus package that includes substantial investments in the renewable energy sector and critical adjustments to its tax credit structure.

• International Renewable Energy Agency launches

  29 January 2009

  An international body to promote renewable power was founded in Berlin this week. Seventy-five countries signed the founding statute of the International Renewable Energy Agency (IRENA).

• Wal-Mart promises to accelerate sustainability effort

  29 January 2009

  The incoming CEO of US retail giant Wal-Mart has reiterated the firm's commitment to sustainability, pledging to reduce packaging and environmentally-damaging detergents – but many of its critics remain to be convinced.

• EC proposes €1.75 bn CCS, renewables boost

  29 January 2009

  European Union energy projects, including carbon capture and storage (CCS) technology and offshore wind farms, could receive a €3.5 billion ($4.6 billion) cash injection under plans proposed by the European Commission on Wednesday.