News

• Low-carbon fund lists on AIM

  01 November 2006

  The newest clean energy company to list on London's AIM market – Low Carbon Accelerator (LCA) – raised £44.5 million ($82.8 million) in a listing last month, but fell short of the £50-80 million that had been hoped for.

• UK recycling fund binned

  01 November 2006

  A £5.5 million ($10.2 million) government-backed investment fund aimed at growing the UK's recycling sector is to close after failing to meet its three-year investment target.

• Investors pledge more action on climate change

  01 November 2006

  A group of leading institutional investors has issued a set of guidelines to encourage standardised disclosure of climate change risks faced by companies. It follows another pledge by an investor grouping to collectively put pressure on companies and governments to reduce emissions of greenhouse gases (GHGs).

• IFC names emerging markets SRI grant winners

  01 November 2006

  The International Finance Corporation (IFC) has named the winners of its $500,000 'Capturing Value' competition to promote analysis of emerging market companies' environmental, social and corporate governance (ESG) performance.

• NGEN II raises $180 million

  01 November 2006

  Clean technology venture capital (VC) firm NGEN partners has closed its second fund, NGEN II, at $180 million. The fund will invest in "companies that utilise clean and sustainable technologies that are primarily enabled by advances in material science," the California-based VC said.

• Goldman Sachs buys into Climate Exchange

  01 November 2006

  Investment bank Goldman Sachs has paid £12.2 million ($22.7 million) for a 10.1% stake in Climate Exchange Plc, the AIM-listed company behind the European Climate Exchange (ECX) and the Chicago Climate Exchange (CCX).

• France unveils 'pact' to save energy

  01 November 2006

  French Prime Minister Dominique de Villepin has unveiled a "national pact for the environment" aimed at encouraging businesses and individuals to invest in energy-saving projects.

• Commission warns on NAPs

  01 November 2006

  The European Commission has sent warning letters to eight member states that have failed to submit their national allocation plans (NAPs) for Phase II of the EU Emissions Trading Scheme (ETS).

• Takara weather fund morphs into RenRe

  01 October 2006

  Weather and energy hedge fund Takara Capital Management has closed, but the business will continue within Renaissance Reinsurance, a Bermuda-based insurance and reinsurance group specialising in natural catastrophe risk.

• CME considers Canada

  01 October 2006

  The Chicago Mercantile Exchange (CME) is considering expanding its suite of weather derivative products into Canada, according to Felix Carabello, director of alternative investment products at the exchange.