200 Investment Firms Issue A Warning On Climate Change
The world's biggest
investment fund managers have called on the Government to act faster to address
the risks of climate change as the World Bank warned a warmer world
could lead to food shortages, cyclones and drought. An alliance of 200
investment institutions includes Scottish Widows, Aviva
and HSBC and controls $21 trillion (£13 trillion) of assets worldwide
is lobbying ministers as part of a broader campaign for action from leading
global economies, The Independent reports. It highlights
growing concerns over the economic impact of global warming among financial
institutions. "Hurricane Sandy, which caused more than $50bn (£31bn) in
economic losses, is typical of what we can expect if no action is taken and
warming trends continue," Chris Davis, a member of the alliance who
advises institutions controlling $11 trillion on climate-change issues, told
the Independent. To read this article in full click
here
Wind Power Might Meet 1/5 Of Global Electricity Demand
By 2030
Wind power could supply one-fifth of
total global energy demands by 2030, according to a new report from the Global
Wind Energy Council (GWEC) and Greenpeace International. The report
investigates a variety of different scenarios for the industry’s development
and future levels of electricity demand. It says that the total installed
capacity could more than quadruple, from the 240GW installed at the end of
2011, to 1,100GW by the year 2020. And could then supply between 11.7% and
12.6% percent of global electricity demand, potentially stopping over 1.7
billion tons of carbon dioxide emissions. While wind energy has been proving
itself as very cost competitive with fossil fuels, and is clearly going to play
a major role in the world’s energy future, it will need the help of better
governmental renewable energy policies to reach its full potential. To read
this article in full click
here
Google Goes on Renewable Energy Shopping Spree
Google is a giant consumer
of energy, but it also sees into the future. That’s why it’s pursuing
investments in renewable energy and is now approaching the $1 billion
investment mark. Late last week, Google announced its acquisition of a $75
million equity stake in a wind farm in Iowa, bringing its total investment in
renewable energy to over $990 million. For a technology giant whose global
data centers consume as much energy as some 230,000 residences, investing in
renewable energy is not only smart—it’s a necessity. Google is also dabbling in
some other interesting renewable energy areas. Right now it is testing
a new biofuels processing system. This experiment, in conjunction
with Cool Planet Energy Systems, is attempting to produce high-octane
gasoline through a thermal process that uses non-food biomass (wood chips,
agricultural waste, energy crops). The feedstock is converted to hydrocarbons
and then is put through a catalytic conversion process. To read this
article in full click
here
California's first cap-and-trade auction sells out,
declared 'a success'
State regulators on Monday
celebrated the results of last week's first-ever auction of California
greenhouse gas emission permits, declaring the long-awaited kickoff to the
nation's first effort to put a price on carbon pollution a success. The state
did not disclose how many companies participated in the historic auction. But
there were three times as many bidders than buyers, a sign that the business
community is taking the new carbon market seriously. A ton of carbon sold for
$10.09 at the auction, just slightly above the $10 floor price established by
regulators, according to data released by the California Air Resources Board. More
important, all of the 23.1 million permits offered at the auction to cover 2013
emissions were purchased, raising $233 million and calming fears that the
market would be under-subscribed. The money will be funneled to residential customers of the state's
utilities to offset higher electricity rates that are expected to result from
the shift to clean energy. To read this article in full click
here
CDM projects to reap $215.4 billion in investments in
2012
The Kyoto Protocol’s clean
development mechanism has spurred billions of dollars of investment for
projects that curb greenhouse gases and contribute to sustainable development. According
to a report titled “Benefits of the Clean Development Mechanism 2012” released
by the secretariat of the United Nations Framework Convention on Climate
Change, around $215.4 billion in investments in C.D.M. are expected by the end
of 2012. C.D.M. allows emission reduction projects in developing countries to
earn certified emission reductions for every one tonne of carbon dioxide
suppressed. These C.E.R.s can be traded and sold or used by industrialized
countries to meet their emission reduction targets. According to the latest report, a total of $21.5-43
billion foreign investments have been brought in as a result of C.D.M. projects
to date. To read this article in full click
here
Sainsbury’s reveals sustainability success as sales of
green products soar
Supermarket giant confirms
that not only is it making good progress against environmental goals, it has
also seen sales of green products climb. Sainsbury's has today revealed that
sales of products carrying sustainability and fair trade labels have climbed
significantly in the past year, despite the tough economic environment. The
supermarket giant this morning released an update on
its high-profile 20x20 sustainability programme, revealing that it has
sold 8.5 per cent more sustainably sourced food in the last 12 months, while
sales of Fairtrade labelled products have risen five per cent to £288m over the
same period. The report also challenged the myth
that environmental issues are an exclusively middle class concern, revealing
that more than £1 in every £10 spent on sustainably labelled products came from
those families on the lowest incomes. To read this article in full click
here
t: +44 (0)
20 3384 8680
No comments:
Post a Comment