LONDON (Reuters) – Countries’ natural resources should be considered when assessing sovereign credit risk as their worth can affect the underlying value of sovereign bonds, the United Nations’ Environment Programme (UNEP) said on Monday.
Pressures on nations from the overuse and scarcity of water, food, forests and minerals, coupled with the effects of climate change, are currently mostly left out of models used to set sovereign credit ratings.
LONDON, Nov 14 (Reuters) – The growth of wind power
generation is likely to slow over the next few years, hit by
cutbacks in the budget subsidies in the United States and Europe
that have driven 15 years of construction, a report published on
Held back by a struggling world economy and the failure to
create commercial conditions which stimulate more green
investment, the report by the Global Wind Energy Council (GWEC)
and Greenpeace International expected growth of wind power would
not accelerate again until after 2020.
LONDON, Nov 13 (Reuters) – Prices for EU carbon emissions
permits closed 8 percent lower on Tuesday, after the European
Commission proposed the withdrawal of only 900 million permits
in its Emissions Trading Scheme (ETS) from next year to prop up
Speculative market participants who had been expecting a
greater number in the proposal helped drive up prices to an
eight-month high of 9.10 euros a tonne on Monday.
LONDON, Nov 13 (Reuters) – Prices for European Union
emissions permits opened trade lower on Tuesday, after the
European Commission proposed the withdrawal of 900 million
permits in its Emissions Trading Scheme from next year to prop
up low prices.
Anticipation of the EU’s announcement, which came after the
market close on Monday, had driven EUAs to 9.08 at the close of
trade, an eight-month high.
LONDON (Reuters) – More satellites and orbiting debris could collide in the upper atmosphere because a buildup of carbon dioxide (CO2) has reduced the “drag effect” which can eventually send some space junk back down to Earth, a study shows.
Over the past eight years CO2 concentrations in the upper atmosphere have risen from burning fossil fuels that have warmed the Earth’s surface and caused temperatures to increase, the study in the journal Nature Geoscience said.
OSLO/LONDON (Reuters) – Rich nations are dismaying developing countries with pledges merely to continue aid to help them combat climate change in 2013 despite past promises of a tenfold surge to $100 billion a year by 2020.
“There should be a transparent process to scale up finance” towards 2020, said Seyni Nafo of Mali, spokesman for the 54-nation African group at U.N. negotiations. The poor needed more than “an indication that funding will not fall off a cliff”.
LONDON (Reuters) – The world will have to cut the rate of carbon emissions by an unprecedented rate to 2050 to stop global temperatures from rising more than 2 degrees this century, a report released by PwC on Monday showed.
PwC’s annual Low Carbon Economy Index report examined the progress of developed and emerging economies towards reducing their carbon intensity, or their emissions per unit of gross domestic product.
LONDON, Oct 25 (Reuters) – Complying with stricter European
Union rules on carbon dioxide emissions from next year could
cost European utilities as much as 2.5 billion euros ($3.24
billion) in 2016, a report by Standard & Poor’s Ratings Services
said on Thursday.
S&P Ratings Services studied nine rated European utilities
and estimated their carbon liabilities under the third trading
period of the EU’s Emissions Trading System (ETS), which will
run from 2013 to 2020.
LONDON (Reuters) – Analysts cut their price forecasts for United Nations’ carbon permits to 2020 further on Tuesday as over-supply continued to put pressure on prices, a Reuters poll of 14 analysts showed.
U.N. carbon permits, called certified emissions reductions (CERs), have lost more than 70 percent of their value over the past year on the continued over-supply of permits, low demand due to the global economic downturn and concerns about restrictions on CER use in other countries’ carbon markets.
LONDON, Sept 20 (Reuters) – Britain needs a more ambitious
programme to encourage the uptake of low-carbon vehicles, as
sales of the cars have disappointed, a committee made up of UK
Members of Parliament said on Thursday.
As part of its aim to reduce carbon dioxide emissions to 80
percent below 1990 levels by 2050, the government has offered 25
percent off the price of a plug-in electric car capped at 5,000