News

• UK stirs up carbon offset market

  01 February 2007

  Leading carbon offset providers have blasted UK government proposals for a voluntary carbon offset standard that would exclude verified emission reductions (VERs) generated by non-Kyoto projects and have criticised the inclusion of allowances (EUAs) from the EU Emissions Trading Scheme (ETS) in the plans.

• 2006: breakthrough year for environmental sector?

  01 February 2007

  Investment in clean technology companies soared in 2006, along with the stock market valuation of the environmental sector, in a stellar year for the environmental industry worldwide.

• M&S, Tesco go green

  01 February 2007

  Marks & Spencer (M&S) plans to spend £200 million ($390 million) over the next five years on a wide-ranging environmental plan, as British retailers race to prove which high street giant is greener.

• Website offers weather risk for the masses

  01 February 2007

  Anew online weather risk management service has been launched in the US, aiming to offer small and medium-sized enterprises access to weather hedges. WeatherBill, launched by a San Francisco-based start-up, offers tools to help companies estimate their weather sensitivity, and customisable contracts based on any combination of minimum, maximum or average daily temperatures, and daily precipitation levels, at 200 US weather stations.

• EBRD bows out of Sakhalin

  01 February 2007

  The European Bank for Reconstruction and Development (EBRD) has ended its five-year investigation into whether to fund the controversial Sakhalin II oil and gas project, because Gazprom's deal to secure a stake in it invalidates the proposal.

• Making their green, greener

  01 February 2007

  San Francisco's New Resource Bank opened its doors at the end of last year, promising a new – and environmentally and community-focused – approach to commercial banking in the US. Trevor Curwin reports

• People moves this month

  01 February 2007

  BELINDA HOWELL has set up Greenstone Carbon Manage­ment, a UK-based consultancy that will advise companies that wish to account for, reduce and offset their greenhouse gas emissions.

• E-Synergy launches £30 million fund

  01 February 2007

  UK investment company E-Synergy has launched its £30 million ($59 million) Sustainable Technology Fund. The fund is one of the new UK government-backed Enterprise Capital Funds designed to help small and medium-sized UK companies bridge the 'equity gap', providing investment of between £250,000 and £2 million.

• Mild winter boosts weather trades

  01 February 2007

  A warmer-than-expected winter in the north-eastern US and across most of mainland Europe has boosted trading in the weather risk markets.

• Areva bids for wind turbine maker

  01 February 2007

  French nuclear and electricity transmission firm Areva has made a friendly bid for Repower Systems, the German wind turbine manufacturer.