Nicky Loh presents a series of time-lapse sequences of a solar power plant in Kaohsiung, Taiwan.
Among the many messages sent out by politicians during the UN Climate Conference in Copenhagen, “Be sustainable — don’t buy sex” has to be one of the least expected. This was the advice circulated by Ritt Bjeregaard, the city’s mayor and a former EU Environment Commissioner, sent via postcard to all the hotels in the city to tell them to stamp down on conference-goers looking to patronise prostitutes on their premises.
The federal stimulus bill hasn’t been a ticket to prosperity for clean energy investors.According to Environment America, a federation of state-based, citizen-funded environmental advocacy organizations, over 4 percent of the $787 billion dollar stimulus package passed in February was ear-marked for clean energy projects.Yet the Reuters Business of Green Index, a basket of 14 green stocks, has fared poorly over the last three months, down over 20 percent against the S&P 500 Index.Why isn’t the stimulus bill, which appears to be helping many stocks, not having the desired effect in the greentech and clean energy sectors?”What happens in Washington for the time being is nowhere near as relevant as you might think,” said Raymond James analyst Pavel Molchanov.He notes that green stocks are heavily dependent on the solar industry, 90 percent of which is outside the United States:”Even though there is a large array of clean tech stocks to invest in, the most attractive green stocks and the certainly the largest ones are in the solar stage. And solar has been doing quite poorly because there is quite simply an overcapacity in the global solar industry.”That has put pressure on prices, margins and earnings. Not surprisingly, solar stocks have fared poorly.Suntech Power Holdings, one of the 14 green companies selected by Reuters, had lost 13 percent of it’s value in August when it reported second quarter earnings. Shares of China’s Yingli Green Energy and U.S. panel maker SunPower Corp were down about 17 percent, and First Solar‘s stock was down nearly 15 percent in the same period.Not all of the news is cloudy, but Molchanov says it’s not time to put away the umbrella just yet.”The good news is that sentiment has gotten so negative that it probably doesn’t take much for it to start improving and expectations for earnings are generally pretty low. So that’s helping, but the overcapacity in the market is not going away in the foreseeable future.”
from From Reuters.com:
When the Reuters.com editorial and business teams met last year to frame our priorities for 2009, one of the ideas that most excited us was an expansion of our environment section. Our environment correspondents around the world were already ramping up their coverage of the business of clean technology, anticipating increased demand for news about how companies were addressing the challenges of climate change and pollution. This was before the election of President Obama and the promise of economic stimulus money for environmental projects.
As part of Reuters new Green Business section, we have chosen a diverse group of companies to serve as a proxy for the emerging green technology sector. Over the coming months we’ll be discussing each of them at length, and rebalancing our portfolio to reflect trends in the industry.
California’s green jobs program is off to the races with $20 million in state and fed funds for a 20-month program for some 1,000 ‘at risk’ young adults. The California Green Corps will have a little of everything — green job training, a stipend, educational requirement and community service. Whether green industry, which is much more battered by the recession than many had hoped, will be able to hire when the government tap turns off is still a subject of debate. Governor Arnold Schwarzenegger sure hopes so.
from The Great Debate:
Van Jones is founding president of Green For All, and author of “The Green Collar Economy," In this interview with PopTech! he describes a plan to create millions of new jobs that can’t be outsourced, wean the country off its dependence on foreign oil, and take bold steps to address the climate crisis.