News

• EU plans stringent measures to slash energy use

  01 November 2006

  Buildings, cars, fridges and water heaters are to be scrutinised by the European Commission as it aims to cut energy use by more than 20% by 2020 and reduce the EU's annual fuel bill by €100 billion ($125 billion).

• EU promises $100 million for developing world clean energy fund

  01 November 2006

  The European Commission is to create a global risk capital fund worth €100 million to boost energy efficiency and renewable energy projects in developing countries.

• Agreement on post-2012 climate regime 'needed by 2008'

  01 November 2006

  There must be a decision on a post-2012 international climate change regime by 2008 in order to give countries enough time to ratify any forthcoming agreement, according to an official at the UN Framework Convention on Climate Change (UNFCCC) secretariat.

• 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.