News

• 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.

• NOx cap-and-trade scheme brings down emissions

  01 October 2006

  Nitrous oxides (NOx) emissions in the eastern US fell 11% in 2005 compared with 2004, according to the Environmental Protection Agency, in its latest report on the NOx Budget Trading Program.

• US EPA 'simplifies' New Source Review

  01 October 2006

  The US Environmental Protection Agency has proposed changes that it says will simplify the New Source Review (NSR) programme for power and industrial plants.

• Investors to pour $80 billion into ethanol by 2021

  01 October 2006

  Investment in ethanol plants will top $80 billion over the next 15 years, according to a report by the McIlvaine Company.