Environmental Finance

The following summaries of news stories from February 2006 printed edition of the magazine Environmental Finance
EU governments may face ETS plans

Many European governments are likely to struggle to provide the required data to support their plans for the second phase of the system of emissions trading experts estimate that the carbon market. The European Commission insists that the so-called national allocation plans prepared by each member state government, including specific information on the contribution of other policies and measures, apart from the exchange system to reduce emissions , and proof of purchase of government carbon credits from the international market.

Some countries did not devote enough resources to quantify the impact of other policies and measures, said Abyd Karmali, director of the team European Climate Change at ICF Consulting in London. And for those who have, it may be very difficult to estimate reductions in things like energy efficiency guidelines.

Des questions ont également été soulevées au sujet de la fiabilité probable des projections du gouvernement sur l'achat de crédits de carbone provenant de l'extérieur du système, en passant par les Protocoles de Kyoto Mécanisme de développement propre et la mise en œuvre conjointe de programs.


D +: Banks must try harder, say NGOs

Even those banks with the lowest social and environmental policies do not deserve a D + for their efforts, according to a survey conducted by WWF and BankTrack, two NGOs.

The study which evaluated the policies of 39 international banks across a range of issues, from human rights to chemicals welcomed recent developments in the banking sectors approach, but said that companies must go beyond the Equator Principles and develop more detailed, tailored policies.


California plans 3,000 MW solar program

The California Public Utilities Commission (PUC) approved a programme of solar energy, Jan. 12, which aims to boost solar roofs 3000MW capacity by 2017.

The California Solar Initiative will provide $ 2.9 billion over 10 years, and the Committee considers this plan to help meet Governor Arnold Schwarzeneggers targets for the reduction of greenhouse gases. The governor pushed a Million Solar Roofs program of the legislature in 2005, but the bill died, it has redrawn the map to be addressed by the PUC.


American Investors unfazed by climate change

Seulement 20% des investisseurs institutionnels américains considèrent les changements climatiques d'être très ou assez important en termes d'investissement, selon une enquête menée par Mercer Investment Consulting. Although more than 37% of respondents to this question should be important in five years, it still ranked as the least relevant investment issue on 12 social and environmental concerns, below water use, terrorism and employee relations.

Jane Ambachtsheer, US-based chief of the Mercers responsible for investment operations, said she was surprised by how climate change ranked low, especially given the attention it has received from major pension funds such as the California Public Employees Retirement System and initiatives such as the Investor Network on Climate Risk.


Asia-Pacific pact will allow emissions to double WWF

The Asia-Pacific climate pact could lead to 23% lower emissions of greenhouse gases (GHG) emissions by 2050 compared with the estimates, according to a report from a research agency of the Australian Government. But conservation group WWF argues that the pact, which brings together the United States, Japan, China, India, South Korea and Australia have the sole effect of a slowdown in growth in emissions and the total global emissions of greenhouse gases will continue to rise.

The Australian Bureau of Agricultural and Resource Economics report was released at the Asia-Pacific Clean Development and Climate inaugural meeting in Sydney, in January 1112. It is estimated that savings of more than 90000 million tons of carbon equivalent between 2006 and 2050 could be achieved through the efforts of the partnership. But, despite these economies, global GHG emissions are expected to double by 2050, says WWF.


Critics line up against the EPA toxic reporting plan

The Attorneys General of 12 states have joined environmental groups and investment by urging the US Environmental Protection Agency (EPA) not to facilitate reporting requirements under Toxic Release Inventory (TRI). TRI is a database of the EPA shows that the release of toxic chemicals by some industries and federal facilities.

The EPA has proposed easing the burden of the rule which states will simplify reporting. The agency wants to allow companies that release up to 5000 pounds per year to file a short form which does not provide details on their releases. This form can now be used by issuers of 500 pounds or less.


Sempra sets up a weather office

Sempra Energy has opened an office in the weather to cover its own energy trading and provide blankets for buyers of wholesale energy in North America.

The bureau, which became operational towards the end of last year, is part of Sempra Commodities, based in Stamford, Connecticut, which includes Sempra Energy Trading.

It provides customers with weather hedges Sempra Energy Trading in North America, which markets electricity, natural gas, crude oil and refined oil products, ethanol, natural gas liquids and coal.


American companies buying up renewable

Three American companies Whole Foods Market, FedEx Kinkos and Walgreens marked their commitment to green energy by announcing major procurement programmes in early January.

Of these, the largest commitment has been made by Whole Foods Market, which became the first Fortune 500 company to offset all its electricity use in the United States and Canada with licences renewable energy (RECs).

FedEx Kinkos, which is part of the group and gives FedEx printing and business services, increased the number of RECs he bought annually by 67.5% or 40000MWh this year.

Pharmacist Walgreens, meanwhile, has taken a different approach. In a joint initiative with ImaginIt, Denver-based supplier of solar energy, it is to install solar panels to 112 of its 5000 stores and two distribution companies centres.The say that the signs will generate more than 13800MWh ' electricity per year, making this the largest solar energy project in the United States.


WilderShares, NEF launch clean energy index

WilderShares and New Energy Finance (NEF) have launched what they say is the first city index tracking stocks of clean energy globally. The WilderHill New Energy Global Innovation Index (NEX) is designed to act as a magnet for capital in the sector, according to NEF CEO Michael Liebreich.

NEX calculated by the American Stock Exchange, includes 86 constituents in 18 markets worldwide whose technologies and services focused on the production and use of cleaner energy, conservation and efficiency, and the promotion of renewable energy.


Airtricity, Babcock make renewable energy acquisitions

Airtricity Australias Ireland and Babcock & Brown (B & B) have closed the development of renewable energy major acquisitions in recent weeks, the latest milestone transactions in the sector.

In December, B & B paid 490 million ($ 603 million) to acquire Portuguese developer Enersis, which has 620MW of wind and hydropower projects in operation or under construction in Portugal, Spain and France, over 360MW in development.

Meanwhile, in the United States in December, in Dublin, based Airtricity acquired Renewable Generation, which has about 1000MW of wind projects in various stages of development in Texas, Colorado and New Mexico.


GRI opens consultation on the draft guidelines

The Global Reporting Initiative (GRI) has released for consultation a draft version of its third generation of guidelines on sustainability reporting. The new guidelines, which can be found on a dedicated website, to update the existing version established in 2002. Their release comes after a year of consultation with interested parties by the GRI and incorporate a number of new features.

The GRI, first launched in 2000, are applicable at the global level a set of guidelines designed to help companies to report on their social, environmental and economic impacts in a standardized manner and are under the GRI, used by more than 750 companies.

He said that the latest innovations [are] designed to improve comparability, clarity, ease of use and insurability guidelines and reports which are prepared using the guidelines.