Clean Investor, September 20: New Japan carbon efficient index launched

RI’s regular round-up of clean investing news

S&P Indices and the Tokyo Stock Exchange have launched a new index that re-weights all companies in the large-cap S&P/TOPIX 150 index to reflect the level of carbon emissions produced. The S&P/TOPIX 150 Carbon Efficient Index, which aims to track the main index as closely as possible, uses the Carbon Footprint metric calculated by research firm Trucost. Link

Deutsche Bank has released new research looking at how climate change can be aided by agriculture investments. “Mitigating climate change through agriculture: An untapped potential” claims the scarcity of agricultural products under the Clean Development Mechanism (CDM) “represents a missed opportunity”. Link

The European Bank for Reconstruction and Development (EBRD) has announced a €40m cornerstone investment in a new Turkish clean energy fund. The Clean Energy Transition Fund (CETF), which has a €200m target size, is being set up by Istanbul-based Crescent Capital.
BlackRock New Energy Trust, the London-listed clean tech investor, says it has added to the “defensive elements” to its portfolio with green utilities such as Fortnum and EDP Renovaveis. BNET’s Net Asset Value (NAV) fell by 6.8% in August. Link

Bridges Ventures, the private investment company which focuses on social and environmental goals, is to invest an initial £2m in renewable energy developer Ardenham Energy Ltd., via the Bridges Venture Funds. Ardenham specialises solar photovoltaic integration, heat pumps, wind turbines and solar thermal systems in the UK. Announcement

CDC Climat, the carbon investment arm of French state investor Caisse des Depots, has backed an innovative method which could open a way to value, in the form of carbon credits, the introduction of legumes into crop rotation. CDC supported InVivo AgroSolutions – which says the agricultural sector, which represents 18% of French emissions of greenhouse gas (GHG) emissions, can contribute effectively to the fight against climate change.There have been some additions to NASDAQ’s cleantech indices. Its Wilder NASDAQ OMX Global Energy Efficient Transport Index has added Dongfeng Motor Group, Yulon Motor, Bollore and Freightcar America. The NASDAQ OMX Clean Edge Global Wind Energy Index has added Huaneng Renewables, China Datang, Renewable Power Co., Japan Wind Development Co., Mitsui & Co. and Duke Energy. NASDAQ OMX Clean Edge Smart Grid Infrastructure Index adds Alstom SA and PSI AG.

The US photovoltaic (PV) market will become the largest market for annual PV installations in 2013, overtaking Germany, Italy, and Japan, according to market intelligence firm ABI Research. An estimated 900 MW of installed capacity came online during 2010 in the US PV market and that number is expected to almost double in 2011, ABI said. Link

Prudential Capital Group, the private equity arm of Prudential Financial Inc. with nearly $57bn in assets under management, is poised to invest $900m in renewable and conventional energy projects, according to reports. Green Energy Reporter was quoting Prudential MD Ric Abel.

The Inter-American Development Bank’s Multilateral Investment Fund (MIF) is to provide up to $5m (€3.6m) to a Chilean renewable energy fund, Renovarum Renewable Energy. The project, run by Renovarum Investment Management S.A., will invest in up to eight small-scale hydro projects that will add 160MW of renewable energy capacity.

The Belgian central bank has published an analysis of the economic impact of the fight against climate change. Despite significant costs, investments in developing low-carbon products and production processes “offer opportunities in terms of innovation, economic activity, sustainable growth and employment”, it says.