LONDON (Reuters) – An injection of U.S. talent into the $6.5 billion market in carbon offsets would help clear bureaucratic bottlenecks, making way for increased investment in clean energy, the CEO of a $310 million environmental fund said.
Under the Clean Development Mechanism (CDM), an emissions trading scheme governed by the Kyoto Protocol climate change pact, companies can invest in low-carbon projects in emerging countries. In return they receive offsets that can be used toward greenhouse gas targets or sold for profit.
LONDON (Reuters) – A U.N. summit in Copenhagen next month is unlikely to agree on a new global climate treaty, but carbon market players are urging delegates to seize the opportunity to agree reforms to the $33 billion trade in carbon offsets.
There is a growing global consensus that talks in the Danish capital to forge a successor to the Kyoto Protocol will lead to only a political agreement including emissions cuts by rich countries, with agreement on a full binding treaty in 2010.
LONDON (Reuters) – Carbon traders and renewable energy investors had expected a delay for a final climate deal beyond a deadline next month but say a full agreement in 2010 is vital.
Leaders from rich countries including U.S. President Barack Obama said this weekend at the Asia-Pacific Economic Cooperation forum (APEC) in Singapore that agreement on a legally-binding climate deal was out of reach in at talks in Copenhagen.
LONDON (Reuters) – Carbon emissions prices could become the driver for other energy commodities within the next 5-10 years, said Jean-Francois Steels, head of Mercuria Energy Group’s newly expanded emissions trading team.
“At the moment, the carbon price follows things like crude oil, German power, coal and natural gas,” Steels told Reuters late on Monday.
LONDON, Nov 3 (Reuters) – JP Morgan’s <JPM.M> acquisition of
clean energy project developer EcoSecurities <ECO.L> will help
its clients manage commodity price risks, even if the investment
has a shelf life of only three years, JP Morgan’s head of global
A 105 pence per share offer by Carbon Acquisition Company, a
wholly-owned subsidiary of JP Morgan, was declared unconditional
on Monday after reaching shareholder acceptances of over 80
percent. The offer values EcoSecurities at 129 million pounds
LONDON (Reuters) – A combination of investment risks threatens to obstruct an already stumbling U.N.-backed $6.5 billion market in clean energy projects in emerging nations, years before the scheme’s first phase is due to end.
Under the Kyoto Protocol’s Clean Development Mechanism (CDM), companies or governments can outsource mandatory cuts in greenhouse gas emissions by buying offsets, called Certified Emissions Reductions (CERs), from projects such as wind farms or hydro dams in developing nations.
LONDON (Reuters) – Rookie James Johnson’s last second basket lifted the Chicago Bulls to a 102-101 pre-season win over the Utah Jazz in London and overshadowed British-born Luol Deng’s homecoming on Tuesday.
Johnson scored the game winner with 0.1 seconds left, giving the Bulls victory in front of a sellout crowd at London’s O2 arena.
LONDON (Reuters) – The Chicago Bulls arrived jet-lagged and injury-hit for their pre-season game against the Utah Jazz in London on Tuesday and for forward Luol Deng it will be a particularly special occasion.
The match at London’s O2 Arena will be the first time the Britain basketball team captain has played in his home country in a Bulls uniform.
AMSTERDAM (Reuters) – Renewable Energy Certificates (RECs) are not carbon offsets and should not be eligible as such under a U.S. climate bill, an environmental policy expert told Reuters.
Carbon offsets are generated by greenhouse gas cuts made by clean energy projects like wind farms that are ‘additional’, meaning they would not have been financially viable without the prospect of offset sale revenues.