Clean Investor, December 13: Carbon Disclosure Project seeks partnership with exchanges, regulators

The regular round-up of clean investing news

The Carbon Disclosure Project, which acts on behalf of 551 institutional investors with $71trn in assets, wants to partner with exchanges and regulators worldwide. “CDP seeks to actively partner with a small number of exchanges to build the climate disclosure regimes necessary to provide investors in the companies on those exchanges, confidence that they are not exposed to systemic risk,” it says in new research on climate disclosure/market capitalisation at 31 global stock exchanges. The ‘Climate Resilient Stock Exchanges – Beyond the Disclosure Tipping Point’ study found that the London Stock Exchange has the highest disclosure rate (88%). CDP home page

Dutch development bank FMO has made its first investment in solar photovoltaic energy generation – in a 44MW facility in Peru sponsored by Spanish solar PV firm T-Solar Group. The FMO and France’s PROPARCO will put up $7.2m each in subordinated loans and the US’s Overseas Private Investment Corporation (OPIC) will provide $130m million in senior debt.

Nine environmental advocacy organizations have launched a carbon capture and sequestration (CCS) network. The members of the ENGO Network on CCS include: the Clean Air Task Force, Environmental Defense Fund, Green Alliance, Natural Resources Defense Council, The Bellona Foundation, The Climate Institute, The Pembina Institute, World Resources Institute and Zero Emission Resource Organisation. Home page

A new report from the World Bank’s private finance arm the IFC has found that private equity and venture capital funds are an “untapped resource” in financing climate change mitigation. The 52-page study – ‘Public Privat(e)quity Partnerships: Accelerating the Growth of Climate Related Private Equity Investment’ – was co-financed by the Global Environment Facility. Link

MidAmerican Energy Holdings, part of legendary investor Warren Buffett’s Berkshire Hathaway group, has agreed to buy the 500MW Topaz Solar Farm in California – the world’s second-largest photovoltaic plant under construction – for some $2bn. MidAmerican is the largest wind energy provider in the US, operating more than a dozen wind farms. Link*Nineteen leading development banks* that are part of the International Development Finance Club have pledged their support to the newly approved United Nations Green Climate Fund. “The IDFC members pledge their support to the constituencies that they serve by establishing partnerships to promote and leverage the resources of the Green Climate Fund and creating innovative developmental responses in preparation for its operationalisation within the next two years,” they said.

South Africa’s Public Investment Corporation (PIC), which manages about ZAR900bn (€83bn) for the Government Employees Pension Fund, is to set aside about ZAR45bn to invest in sustainable development and the green economy, according to a report in the Independent Online quoting PIC Chief Executive Elias Masilela. He said the fund would be established up at the start of the new financial year and would focus on social infrastructure, economic infrastructure, the promotion of small, medium and micro enterprises and a green economy.

The Organisation for Economic Cooperation and Development says OECD member countries allocated up to $22.9bn, or 15% of total official development assistance, to climate change mitigation and adaptation in developing countries in 2010. One-third of the estimated climate-change-related aid in 2010 went to support adaptation while two-thirds was for mitigation. “We urge donors to step up bringing in both mitigation and adaptation considerations into their development policies,” said OECD Secretary-General Angel Gurría. Link

BNP Paribas Clean Energy Partners has bought a UK biomass plant for its Clean Energy Fund, adding to its investments in wind power and solar across Europe. The purchase of the Sleaford straw-fired plant in eastern England from operator ECO2 is being financed with debt raised from NIBC Bank, Royal Bank of Scotland, Siemens Bank and Unicredit.