News

• ADB safeguard policy review under fire

  01 March 2008

  The Asian Development Bank (ADB) is under pressure over plans to change the environmental and social standards projects must fulfil to receive a loan, after at least two NGOs quit the consultation process in protest.

• Carbon project pioneer applies for court protection

  01 March 2008

  Dublin-based carbon project developer AgCert has applied to the Irish courts for protection from its creditors, under a process called 'examinership'.

• US carbon market could hit $1 trillion by 2020

  01 March 2008

  The value of the US carbon market could reach $1 trillion in 2020, if the US closes the door to cheap international credits, says New Carbon Finance (NCF). Such a move would raise carbon prices to $40/tonne of carbon dioxide (CO2), adding 20% to power prices, 10% to the cost of natural gas and 12% to petrol prices at the pump.

• EDP plans renewables spin-off

  01 March 2008

  Energias de Portugal (EDP) has announced plans to float around 25% of its renewable energy unit, despite the current unfavourable market conditions. However, analysts say the Portuguese utility is nonetheless likely to be able to pull off the deal.

• Investors sign up to $10bn climate action plan

  01 March 2008

  Almost 50 institutional investors signed up to a 'climate risk action plan' last week, which includes a promise to plough $10 billion into clean technology within two years.

• SAM doubles AUM in 07

  01 March 2008

  Sustainable Asset Management (SAM) has increased its assets under management to Sfr8.5 billion ($8.1 billion) in its 2007 financial year, an increase of 125% on the previous year. Including the assets on which it advises, the figure is Sfr15 ­billion.

• Germanic SRI assets leap 90%

  01 March 2008

  The assets managed by sustainable investment funds in Germany, Austria and Switzerland grew by 90% in 2007, reaching €34 billion ($51.7 billion) according to the Sustainable Business Institute (SBI), based in Oestrich-Winkel, Germany. The number of funds also grew, from 137 in 2006 to 181 by the end of last year.

• Indonesia eyes 100Mt of REDD credits

  01 March 2008

  US investment bank Merrill Lynch has joined an Indonesian-based avoided deforestation project which is expected to generate 100 million tonnes of voluntary emission reductions (VERs) over 30 years.

• CERA sees $7 trillion for clean energy

  01 March 2008

  Cumulative clean energy investment could surpass $7 trillion by 2030, according to a study from Cambridge Energy Research Associates (CERA).

• TFS launches green finance division

  01 March 2008

  Brokerage TFS Energy has launched a 'green finance' division, which will focus on sourcing finance for renewable energy and emission reduction projects. The division is headed by Matt Williamson, who joins the firm from New York-based SparQ Energy Advisors, where he was a principal.