Carbon Disclosure Project Chief Executive Paul Simpson has been appointed to a high-level panel looking at the future of the Clean Development Mechanism. Other figures in the nine-strong group include World Wide Fund for Nature President Yolanda Kakabadse and Nobuo Tanaka, former president of the International Energy Agency. The panel is expected to report in late September. The CDM has set up a new website to cover developments.
French bank Crédit Agricole says it will offset its Paris area CO2 emissions with a REDD+ project for the first time. It will offset the emissions by buying Verified Emission Reductions issued under the Kasigau Corridor REDD+ (Reduced Emissions from Deforestation and Degradation) project in Kenya. Announcement
The Environmental Protection Agency, the US watchdog, has for the first time published comprehensive greenhouse gas data reported directly from large facilities and suppliers. Its online data publication tool allows users to view and sort 2010 data from over 6,700 facilities. “The information can be used by communities to identify nearby sources of GHGs, help businesses compare and track emissions, and provide information to state and local governments.” the EPA says.
The value of the North American carbon market will roughly double in value to $782m, according to analysis from Thomson Reuters Point Carbon. The Western Climate Initiative would also overtake the Regional Greenhouse Gas Initiative as the largest trading programme, it added. Link
Abu Dhabi state renewables firm Masdar will invest with the Development Bank of Japan in solar and wind projects, according to reports. Masdar chief executive Sultan al Jaber was quoted as saying it was an opportune time to invest “given the lack of financing available to fund operational renewable energy projects”.
The development of clean and renewable energy will “open a new dimension of cooperation” between China and the rest of the world, according to a speech by Chinese Premier Wen Jiabao. Speaking at the 5th World Future Energy Summit in Abu Dhabi, he reaffirmed China’s commitment to investment in new energy sources, according to China Daily.Pension funds are showing greater interest in investing in wind energy infrastructure projects, according to Danish turbine maker Vestas Wind Systems. “We have seen quite positive interest from some major pension funds into doing investment in this sector,” the company’s chief executive Ditlev Engel was quoted as saying on a conference call by Reuters. Vestas last week announced up to 4,000 redundancies.
The UN Environment Programme Finance Initiative (UNEP FI) is holding a webinar reviewing the recent Durban climate change summit. Outcomes of the Global Climate Change Conference in Durban (COP17) takes place on January 30 at 2:00 pm Central European Time. Speakers include: Nick Robins, HSBC, co-chair of the UNEP FI Climate Change working group; Andreas Spiegel, Director, Risk Management, SwissRe; Karin Ireton, Director of Group Sustainability, Standard Bank; Abyd Karmali, Head of Global Carbon Markets, Bank of America Merrill Lynch. Register by January 25.
Swiss-based solar investor Terra Nex and Germany’s Middle East Best Select (MEBS) say they plan a 400MW, $2bn solar project in Oman, according to reports. The project is to be mostly financed by investors from Germany – MEBS is mainly funded by German institutional and individual investors.
Global venture capital funding for wind energy rose to $369m in 14 deals in 2011 – up from $277m (11 deals) in 2010, according to a new report released by Mercom Capital Group. The figures come in its new Wind Funding and M&A 2011 Report. Link
Denmark plans to have an “extremely heavy” renewable energy agenda for its six-month presidency of the European Union, according to an interview with Martin Lindgreen, head of department at Denmark’s ministry of climate and energy in trade publication Utility Week.
Some FTSE 350 firms are unprepared for mandatory carbon reporting, according to environmental data firm Trucost. The UK government is set to decide whether to make greenhouse gas emissions reporting mandatory in annual reports. “Several high emitting FTSE 350 companies will need to improve the accuracy and transparency of their reporting,” Trucost says.