News

• Solar IPO enthusiasm remains undimmed

  01 July 2007

  Aspate of photovoltaic (PV) manufacturers have come to market with well-received initial public offerings (IPOs) in recent weeks, tapping into growing investor enthusiasm for solar power.

• OECD bolsters environmental guidelines for ECAs …

  01 July 2007

  OECD countries have tightened the environmental standards a project must meet to receive support from their export credit agencies (ECAs).

• While OPIC caps carbon emissions

  01 July 2007

  The Overseas Private Investment Corporation (OPIC) has promised to cut emissions from the projects it finances by 20% over 10 years, but environmentalists have slammed the move as insufficient.

• Canadian travellers offered snow risk bet

  01 July 2007

  WeatherBill, an online weather risk management service laun­ched in January, has struck its first major deal that could provide up to C$100 million (US$95 million) of coverage in the event of heavy snowfall at Canadian airports.

• EPA offers tougher ozone rules

  01 July 2007

  The US Environmental Protection Agency (EPA) has proposed stricter rules for ozone levels. Although environmental and health groups complain that the agency's plan is not sufficient, any change could impact revisions to power plant emissions regulations.

• People moves this month

  01 July 2007

  Two leading figures in the carbon markets have moved to US investment banks, signalling growing US interest in the effort to tackle climate change.

• Kenmar links with ABN Amro on fund of funds

  01 July 2007

  Kenmar of Rye Brook, New York, has launched a hedge fund to invest primarily in environmental hedge funds. The Kenmar Global ECO Fund SPC has attracted an initial $25 million investment from Dutch bank ABN Amro and the two organisations will collaborate in marketing the open-ended fund to other institutional investors. Kenmar is targeting a "mid-teens" return, according to co-CEO Ken Shewer.

• Citi tops SRI research survey

  01 July 2007

  Citi Investment Research has retained its position as leading brokerage firm for socially responsible investment (SRI) research and for long-term thematic research, in a survey of European buy-side and sell-side firms.

• HSBC to spend $90m to reduce footprint

  01 July 2007

  HSBC has promised to spend $90 million over five years to reduce its impact on the environment and showcase best practice.

• Barclays to take over Biofuels

  01 July 2007

  UK-based Barclays Bank intends to save its client ­Biofuels Corporation, which operates the UK's largest biodiesel plant, from complete collapse by taking over 94% of the company and cancelling £40 million ($81 million) of its nearly £100 million of debt.