News

• Car emission cuts to cost up to €23 billion

  01 May 2007

  Plans by the European Commission to reduce carbon dioxide (CO2) emissions from new cars to 120 grammes per kilometre by 2012 will cost up to €23 billion, according to an impact assessment published by the Commission.

• EU ministers push for climate co-operation

  01 May 2007

  Europe's energy, financial, transport and agricultural policies will have to be coordinated to meet the EU's carbon goals, according to German and UK ministers.

• Bank of America praised for environment plan

  01 April 2007

  Environmental groups are praising Bank of America (BoA) for its $20 billion, 10-year environmental programme, and hope it will put pressure on its competitors to follow.

• Bingaman proposes 15% US renewables goal

  01 April 2007

  The US Congress is to consider bills to establish a national Renewable Portfolio Standard (RPS), with a key senator proposing a 15% share of renewable power by 2020, while a House of Representatives bill aims at 20%.

• MissionPoint closes $335m fund

  01 April 2007

  MissionPoint Capital Partners has raised $335 million into a new private equity fund to invest in companies involved in clean energy and environmental finance, exceeding its $250 million target. MissionPoint Capital Partners Fund I will provide at least $10 million and typically $30 million in growth equity or buy-out finance for expansion-stage companies in North America and Europe.

• US-Brazil biofuels pact 'irrelevant'

  01 April 2007

  US biofuel sources have rejected as largely irrelevant a US/Brazilian agreement last month to co-operate on biofuels, because the US refuses to abolish its $0.54/gallon ($0.14/litre) duty on imports of ethanol. The US State Department stressed: "This initiative does not include discussion of US trade, tariffs or quotas."

• Morgan Stanley JV to fund renewables projects

  01 April 2007

  Morgan Stanley and Distributed Energy Systems have launched a joint partnership to develop and fund renewable energy projects.

• EU targets raise questions

  01 April 2007

  EU heads of state have committed to cut greenhouse (GHG) emissions by at least 20% and ensure that 20% of EU energy comes from renewable sources by 2020. The targets – agreed at a summit last month – were broadly welcomed as a step in the right direction towards combating climate change, but it remains unclear how the renewables target?will be reached and what impact?it will have on energy?markets across the EU.

• First 'green' bond index launched

  01 April 2007

  JPMorgan and Innovest Strategic Value Advisors have launched what they say is the first bond index to factor in climate change risks.

• First trade struck in Phase III allowances

  01 April 2007

  The first trade in carbon dioxide allowances for delivery in the EU Emissions Trading Scheme (ETS) after 2012 has been completed, according to the parties involved.