News

• Australia's Howard u-turns on emissions trading

  01 December 2006

  The Australian government is to form a taskforce to investigate greenhouse gas (GHG) emissions trading at the national and international level, Prime Minister John Howard has announced. Although the terms of reference have yet to be released, he indicated the review will include an assessment of possible changes or alternatives to existing international carbon markets.

• Coal mine should have looked at GHGs, says Australian court

  01 December 2006

  An Australian state environment court has ruled that the environmental assessment of a coal mining project was inadequate because it ­did not take account of the carbon emissions from burning the coal.

• Deal struck on EU chemicals law

  01 December 2006

  Landmark European laws on chemicals safety are likely to be approved in mid-December following a last-minute compromise between the European Parliament and EU governments.

• Cat bond holders profit from quiet hurricane season

  01 December 2006

  The 2006 Atlantic hurricane season has ended without a major hurricane reaching land, spelling good news for investors in catastrophe bonds.

• Wachovia's environmental policy falls short – RAN

  01 December 2006

  Wachovia has be­come the latest US bank to set out an environmental policy – but it has been severely criticised by the Rainforest Action Network (RAN).

• Banks lag on sustainability – Sarasin

  01 December 2006

  Most international banks are making middling efforts on sustainability, according to a Bank Sarasin study, with only HBOS making the highest grade.

• UK turns again on environmental reporting

  01 December 2006

  UK businesses will have to report on their environmental impacts after a second government u-turn.

• Carbon Trust rethinking low-carbon VC fund

  01 December 2006

  The UK's Carbon Trust has gone back to the drawing board with its plans for a venture capital (VC) fund to invest in the low-carbon and clean energy technology sectors. The trust had hoped to raise up to £75 million ($147 million) into its Carbon Trust Investments Clean Energy Fund, which it planned to list on the London Stock Exch­ange's Alternative Investment Market (AIM), but the listing was pulled in late October.

• International Power breezes into renewables

  01 December 2006

  Electricity generator International Power is to acquire wind farms with total generating capacity of 436MW from UK-based money manager Christofferson Robb & Company (CRC).

• The economics of risk

  01 December 2006

  The Stern review has energised the climate change debate – and attracted extensive criticism. Nicholas Stern defends its findings