News

• Finance sector in the dark on biodiversity risks

  01 July 2007

  The financial sector has a long way to go to understand the rising risks posed by biodiversity loss, according to the author of a report on the subject for the IUCN-World Conservation Union. More work particularly needs to be done to make the link between loss of biodiversity and financial impacts, he said.

• Swiss Re bids to boost cat bond trading

  01 July 2007

  Swiss Re has started indexing the performance of catastrophe (cat) bonds in a bid to increase the transparency and encourage secondary trading of the rapidly growing asset class.

• UK outlines energy efficiency trading scheme

  01 July 2007

  The UK government has published a detailed plan for its proposed cap-and-trade scheme to encourage energy efficiency among big energy consumers.

• 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.