‘Green Fund’ for climate change proposed by IMF staff

By Sandrine Rastello and Ben Sills

March 25 (Bloomberg) -- A “Green Fund” designed to help nations meet climate-change pledges would sell bonds in global markets and use the proceeds to help poor countries deal with the effects of global warming, International Monetary Fund staff proposed in a report.

The report released today expands upon an idea mentioned by IMF Managing Director Dominique Strauss-Kahn earlier this month as a way to raise $100 billion a year by 2020.

The plan offers a mechanism for rich nations to honor their agreement from last year’s Copenhagen climate summit to provide that amount of money to developing countries to confront drought, flooding, food shortages and disease exacerbated by global warming.

Governments could inject reserve assets in the fund, including those disbursed by the IMF last year, it said. The IMF staff plan also calls for wealthy nations to provide separate subsidies to help finance grants, according to the report.

“Once created, the Green Fund could provide a unified resource mobilization framework capable of meeting the financing needs identified at Copenhagen for decades to come,” the IMF staff paper said. “This seems far preferable to the alternative -- a succession of difficult international negotiations every few years, with uncertain outcomes.” …

‘Green Fund’ for Climate Change Proposed by IMF Staff

Technorati Tags: global warming,climate change,green economy,carbon market

Philips smashes sustainability targets

BusinessGreen.com staff, BusinessGreen, Monday 22 February 2010 at 14:30:00

Electronics giant sets new goals for green product sales after hitting initial target three years ahead of schedule

Electronics giant Philips today announced it generated almost a third of its revenue from "green products" last year, reaching its target for sales of energy efficient and environmentally friendly technologies three years ahead of schedule.

The company reported it had generated 31 per cent of revenue from "green products" in 2009, and was set to achieve its target of investing €1bn in the development of green technologies before the end of this year.

It also said that it was well positioned to meet its target of improving operational energy efficiency by 25 per cent.

The company classifies products as green using an internal scoring system that analyses their energy efficiency, packaging, hazardous substances, weight, recycling and disposal, lifetime reliability. For a product to be regarded as " green" it has to boast a better score, by at least 10 per cent, in one or more of the metric areas when compared to a competitor equivalent or predecessor product.

Rudy Provoost, chairman of Philips' Sustainability Board and chief executive of the company's lighting division, said the fact targets set out in 2007 had been reached in around half the time scheduled "shows that sustainability truly is a driving factor in Philips' business strategy".

The announcement came as Philips debuted its latest EcoVision5 strategy, featuring a range of new environmental targets for 2015 including an eye catching commitment to improve the energy efficiency of its overall product portfolio by 50 per cent. …

Philips smashes sustainability targets

Technorati Tags: green manufacturing,green economy

World Bank's green bonds clear $1bn mark

By Tom Young, BusinessGreen, Monday 22 February 2010 at 12:03:00

Bond issues raise finance for low-carbon and climate adaptation projects in developing world

The latest issue of green bonds by the World Bank has taken the total amount raised to more than $1bn (£646m), the institution announced today.

The innovative bonds were first issued in late 2008, raising $350m and marking the first time the World Bank had offered bonds to raise funds for a specific purpose.

The bonds were developed in partnership with Swedish bank Skandinaviska Enskilda Banken (SEB), which confirmed that the most recent issue of SEK500,000,000 ($69.2m, £44.7m) helped take the total sold past the $1bn mark.

The bonds are used to raise money to support World Bank-funded projects that tackle the causes and consequences of climate change in the developing world, such as renewable energy installations, reforestry initiatives, watershed management and flood protection schemes.

"Climate action in developing countries – specifically, mitigation and adaptation initiatives – requires important financing by the international community, from both public and private sources," said Warren Evans, director of the environment department at the World Bank.

The latest issue of bonds saw investment from WWF-Sweden and the Swedish National Pension Fund, as well as a number of European private banks and life insurance companies.

The bonds will mature after seven years and promise return at rates of 3.25 per cent per annum – higher than Swedish government bond rates. …

World Bank's green bonds clear $1bn mark

Technorati Tags: green economy,renewable energy,environmental restoration,global warming,climate change

Big profit from nature protection

By Richard Black
Environment correspondent, BBC News website

Money invested in protecting nature can bring huge financial returns, according to a major investigation into the costs and benefits of the natural world.

It says money ploughed into protecting wetlands, coral reefs and forests can bring a hundredfold return on capital.

The Economics of Ecosystems and Biodiversity study (Teeb) is backed by the UN and countries including the UK.

The project's leader says governments should act on its findings at next month's UN climate summit.

Teeb is the first attempt to evaluate the economic value of "ecosystem services" - things that parts of the natural world do for free, such as purifying drinking water or protecting coasts from storms - on a systematic and global basis.

"We have now evaluated 1,100 studies ranging across different countries and different ecosystem services," said study leader Pavan Sukhdev, a Deutsche Bank economist.

"And we find that with protected areas, for example, no matter how you slice the figures up you come up with a ratio of benefits to costs that's between 25-to-one and 100-to-one.

"Now we can say quite confidently that there is a solid benefit from investing in protected areas," he told BBC News. …

Big profit from nature protection

Technorati Tags: environmental restoration,green economy

Trend watch: pot growing in abandoned McMansions

 

The lastest in American architectural innovation. Image credit, Photobucket, darkrose05rx8

The bad guys bought abandoned or repossessed homes, ripped out interior walls, illegally tapped into power and water, and grew pot commercially. What starts in California goes viral a couple years later. So, don't be surprised if DEA operatives begin cruising upscale developments in Florida or Connecticut. Possible counter-intel tactics by the bad guys: hire broke soccer moms to stop by and smile at the neighbors…

Trend Watch: Pot Growing In Abandoned McMansions

Technorati Tags: financial collapse,green economy,green architecture

Obama administration will remove barriers to home energy retrofits

WASHINGTON, DC, October 19, 2009 (ENS) - The emergence of a home retrofit market that would increase energy efficiency and cut home energy bills has been hampered by lack of access to reliable information, financing and skilled workers, finds a new report released today by Vice President Joe Biden.

The report, "Recovery Through Retrofit," [pdf] is intended to build on the foundation laid in the Recovery Act to expand green job opportunities and boost energy savings by making homes more energy efficient, the vice president said.

"'Recovery Through Retrofit' is a blueprint that will create good green jobs - jobs that can't be outsourced, and jobs that will be the cornerstones of a 21st-Century economy," said Biden. "And, thanks to the Recovery Act's unprecedented investments in energy efficiency, we are making it easier for American families to retrofit their homes - helping them save money while reducing carbon emissions and creating a healthier environment for our families."

At a Middle Class Task Force meeting earlier this year, the vice president asked the White House Council on Environmental Quality to develop a proposal for federal action to lay the groundwork for a self-sustaining home energy efficiency retrofit industry.

In response, the Council set in motion an interagency process with the Office of the Vice President, six other White House Offices and 11 departments and agencies to develop recommendations for how to use existing authority and funding to accomplish this goal. These recommendations are detailed in the report.  …

Obama Administration Will Remove Barriers to Home Energy Retrofits

Technorati Tags: green construction,green economy

Carbon fund assets grow 25 per cent and clear $16bn mark

BusinessGreen.com Staff, BusinessGreen, Friday 25 September 2009 at 13:11:00

Despite economic downturn and concerns over market outlook, interest in carbon investment continues to grow

The economic downturn may have claimed several funds as victims, but most investors in the carbon market have still enjoyed a bumper year as assets held by carbon funds grew.

in the carbon market have still enjoyed a bumper year as assets held by carbon funds grew 25 per cent to $16.11bn (£10bn).

That is according to new research from Environmental Finance Publications, which also found that the number of dedicated carbon funds that specialise in procuring carbon credits to sell at a profit or supply investors with pollution permits rose from 80 to 88 in the 12 months to August.

The growth in the market was despite plunging carbon prices brought about by the economic downturn and the closure or suspension of eight carbon funds.

The performance underlines the continuing attraction of the carbon market to investors, despite reduced demand for carbon credits as a result of reduced industrial output.

...

Carbon fund assets grow 25 per cent and clear $16bn mark

Technorati Tags: carbon market,carbon reduction,carbon offset,green economy

Investors worth $13 trillion urge strong global climate treaty

NEW YORK, New York, September 16, 2009 (ENS) - The world's largest global investors today issued a joint call for strong action this year from U.S. and international policy makers to control global warming. Signed by 181 investors, who collectively manage more than $13 trillion in assets worldwide, the statement on the "urgent need for global agreement on climate change" was released at the International Investor Forum on Climate Change in New York.

Hosted by New York State Comptroller Thomas DiNapoli and keynoted by British economist Lord Nicholas Stern, the forum comes in advance of key negotiations in Copenhagen this December to finalize a new international climate change treaty to take effect after the Kyoto Protocol expires at the end of 2012.

"Unmitigated climate change poses a threat to the global economy," said Stern. "But building a low carbon economy creates opportunities for investment in new technologies that promise to transform our society in the same way as the introduction of electricity or railways did in the past."

Investors are already starting to invest in a low-carbon world that is "cleaner, quieter, safer and more biodiverse," said Stern, who chairs the Grantham Research Institute on Climate Change at the London School of Economics and serves as special advisor to the group chairman of HSBC on economic development and climate change, "but these investments will be much more effective if the right climate policies are in place. Investments will drive the political process." …

"We must chart a new course toward long-term, sustainable business practices," said DiNapoli, who heads the $116.5 billion New York State Common Retirement Fund and its $500 million green strategic investment program. "We cannot drag our feet on the issue of global climate change. I am deeply concerned about the investor risks climate change presents, and the human cost of inaction is unthinkable." …

Investors Worth $13 Trillion Urge Strong Global Climate Treaty

Technorati Tags: green economy,climate change,global warming,carbon reduction

Indian state achieves Western standards on fraction of income: a slideshow

 

The state of Kerala in southwest India is a socio-economic abberation: despite a per capita GDP of US$247, far below the world average, its 32 million people enjoy good health care, US-level birth rates, literacy rates and life expectancies. “Demographically, in other words,” Bill McKibben wrote in 1998, “Kerala mirrors the United States on about one-seventieth the cash.” Today its economy is hurting as its foreign remittances dwindle – Kerala is known for providing much of the now shrinking Middle Eastern migrant workforce. But the template for the state's strange demographics began long before, with Hindu rulers, missionaries and then leftist governments emphasizing widespread education and health care. …

Indian State Achieves Western Standards on Fraction of Income: A Slideshow

Technorati Tags: green economy

Logica joins carbon software battleground

BusinessGreen.com Staff, BusinessGreen, Wednesday 13 May 2009 at 15:07:00

Just days after SAP buys its way into the market, UK-based Logica launches environmental reporting toolkit

Logica has become the second IT company in the past week to beef up its presence in the increasingly crowded market for carbon management software, with the launch of a new reporting application designed to help firms track their environmental performance.

The UK-based firm today unveiled a Sustainability Indicator Reporting Application (SIRA), which it said would provide firms with a central point for monitoring and managing environmental metrics, such as carbon emissions, water use and waste levels.

Judith Halkerston, UK managing director for energy, utilities and telecoms at Logica, said the new application had been developed in line with international environmental reporting standards and would help firms comply with the growing number of green regulations.

"Organisations today need to navigate their way through a maze of international environmental regulation, with a number of FTSE companies now actively reporting on their sustainability performance," she said. "Often, this requires a significant investment in resource and raises challenges to present the data in an intuitive and engaging manner." …

Logica joins carbon software battleground

Technorati Tags: green economy,carbon market

Transition Towns USA in the New York Times

 

 New York Times Offers Profile of Transition Towns

I need to read the New York Times more often. Doing one of my regular check ins on Transition Culture, the blog of Transition Towns founder Rob Hopkins, I find that the NYT just ran a 5000 word article profiling the Transition Towns movement, and getting to meet the folks behind Transition Town Sandpoint, Idaho. I've probably made it pretty clear by now that I am a huge fan of the Transition movement - it may well be the most important  social movement of our time. So it is great to see the word spreading far and wide in the US. The NYT article, by Jon Mooalem, is a great example of exactly why the movement is succeeding in preaching way beyond the choir (and highlights, I think, some pitfalls too). …

Transition Towns USA in the New York Times

Technorati Tags: green construction,green economy,Peak Oil,climate change

Forbes: “The best country for business in the world” is one with a very strong carbon cap and a 20% renewable standard for 2011

Well, Forbes magazine has given progressive advocates of climate action a terrific talking point:  The “best country for business in the world” — for two years running — is uber-green Denmark (photo below courtesy of Forbes).

Denmark has one of the strongest cap-and-trade commitments in the world — 20% below 1990 levels by 2008-2012.  And it has a requirement that 20 percent of its overall energy mix be renewable by the end of 2011.  And its efficiency measures are such that Energy Minister Connie Hedegaard said last year, “In 2025, (Denmark’s) total energy consumption will not have risen in 50 years.”

And Forbes says that’s great for business! …

Forbes: “The best country for business in the world” is one with a very strong carbon cap and a 20% renewable standard for 2011

Technorati Tags: green economy,carbon market

Fighting global warming offers growth and development opportunities

(University of Copenhagen) Combating climate change may not be a question of who will carry the burden but could instead be a rush for the benefits, according to new economic modeling presented today at "Climate Change: Global Risks, Challenges & Decisions" hosted by the University of Copenhagen.

Contrary to current cost models for lowering greenhouse gas emissions and fighting climate change, a group of researchers from the University of Cambridge conclude that even very stringent reductions of can create a macroeconomic benefit, if governments go about it the right way.

"Where many current calculations get it wrong is in the assumption that more stringent measures will necessarily raise the overall cost, especially when there is substantial unemployment and underuse of capacity as there is today", explains Terry Barker, Director of Cambridge Centre for Climate Change Mitigation Research (4CMR), Department of Land Economy, University of Cambridge and a member of the Scientific Steering Committee of the Congress.

"There is some evidence that harder greenhouse gas targets and regulation may actually increase benefits through improved innovation and distribution of low carbon technologies, and increased revenues from taxes or permits. These revenues can be spent to further support new technology and to lower other indirect taxes, ensuring the fiscal neutrality of these measures", says Barker.

"The current global financial crisis must be seen as a timely stimulus to tackling climate change, not a hindrance. If all G20 countries adopted a Green New Deal similar to that proposed by President Obama, the world economy could be greatly strengthened, especially the sectors producing low-carbon technologies," he adds. "But global coordination is critical. Any single country's New Deal may fail if its extra demand for goods and services are met with imports. If we act together, everyone's exports will increase and we can recover employment much quicker".

The prospect of extra growth for the economy from mitigating climate change also raises the possibility of generating funds for helping developing countries adapt to the changes that are now inevitable.

"This 'New Marshall Plan' for the climate would be beneficial to all parties", says Barker. …

Fighting global warming offers growth and development opportunities

Technorati Tags: climate change,green construction,green economy,Copenhagen

U.S. stimulus would cut climate emissions: report

WASHINGTON (Reuters) - Energy efficiency and conservation proposals in President Barack Obama's original economic stimulus plan would cut climate-warming carbon dioxide emissions by 61 million tonnes a year, a new report says.

That would be equivalent to eliminating the greenhouse gas emissions from electricity used in 7.9 million U.S. homes or taking 13 million cars off the road, the analysis of the recovery plan's carbon footprint found on Thursday.

The report was commissioned by the environmental group Greenpeace and produced by climate and energy consulting firm ICF International.

The report analyzed only the parts of Obama's initial January 20 blueprint for economic recovery where the decrease in carbon dioxide emissions could be quantified, Kert Davies of Greenpeace said in a telephone interview.

Many parts of that blueprint were incorporated in the first measure proposed by the U.S. Congress and currently being debated on Capitol Hill, with the total cost of the package passing $800 billion.

"The fact that the federal government could spend so much money and actually help slow global warming means we've really turned the page as a country," Davies said. "This is a real sign that we're starting to move beyond the era of fossil fuels."

U.S. stimulus would cut climate emissions: report

Technorati Tags: carbon dioxide,Obama,green economy,carbon reduction

Google Trends offers insight into the direction of green building

From Jetson Green:

 

Google Trends has been on the radar of software techies, research junkies, Google aficionados, and the otherwise internet-obsessed since the summer of 2006.  It’s a tool for tracking the search popularity of high traffic terms.  For anyone wanting to keep their finger on the pulse of green building, this is a quick, although certainly not definitive source of information on where the curious live, who still needs to be clued in, when the tipping point occurred for various green ideas and products, and what – in general – is the direction of interest in green building.

The term ‘green building’ itself seems to be only slightly on the rise, if not at least remaining steady, just like a couple of other generic enviro-terms like ‘green’ and ‘eco’ and ‘energy efficient’ – nothing to write home about.  But, digging a little deeper, it is not hard to discover that certain specific, in-the-weeds green building parlance such as ‘low-voc,' ‘light pollution,' ‘dual flush,’ ‘water saving,' ‘greywater,’ and even ‘USGBC’ all saw a significant jump in activity starting somewhere between mid-2005 and early 2007 (the same is true for a number of climate change-related phrases like ‘carbon emissions’ and ‘sea levels’).

This backs up the oft-cited observation that environmental consciousness made a leap forward around 2006, and while people were previously just thinking about green building, in the past couple of years, they’ve started getting their hands dirty.  Not exactly a revelation, but it is useful to begin to understand what aspects of green building are creeping into the mainstream more quickly than others.  Some buzzwords, including ‘weatherize,' ‘storm water management,' ‘rapidly renewable,' and ‘open grid pavement’ haven’t even hit the critical mass necessary to be worth tracking (or so says Google).

Google Trends Offers Insight into the Direction of Green Building

Technorati Tags: green building,green construction

Giant North Sea wind farm plan offers promise of European energy independence by 2050

By Anna Winston

OMA has developed a masterplan for an offshore wind farm in the North Sea. If built, the giant Zeekracht wind facility could give Europe energy independence.

Commissioned by the Netherlands’ Society for Nature & Environment (Natuur en Milieu), the masterplan outlines locations for a ring of wind parks in the North Sea that could generate 13,400TW hours of energy, while a new international institute for renewable energy would sit at the centre of the network.

As fishing with within a wind farm site is not allowed, links between the windmills would create areas of shelter for marine wildlife and space for artificial reefs.

OMA’s vision would see all seven countries on the coastline around the sea sharing, distributing and trading electricity.

Download the OMA masterplan outline (pdf)

If the plan goes ahead, the society estimates that Europe could achieve energy independence from Russia and the Gulf states by 2050.

The Netherlands’ Society for Nature & Environment said: “The Zeekracht masterplan’s strength lies in its combination of current scientific knowledge with a strong vision of the future.

“Small, short-term instruments such as subsidies need to be replaced by long-term investment that delivers financial and ecological profit, as well as more energy independence.”

OMA’s Zeekracht North Sea wind farm masterplan offers promise of European energy independence

Technorati Tags: wind power,green economy

Analysis: Green sector may save economy

Abu Dhabi, United Arab Emirates (UPI) Jan 20, 2009 - A renewable energy "revolution" is taking place in the heart of the global oil industry here on the Arabian Peninsula, where world leaders and experts at a summit on tomorrow's energy say it may not only save the climate but also help revive today's ailing global economy. (e-mail: energy@upi.com)

Analysis: Green sector may save economy
Thu, 22 Jan 2009 00:00:00 GMT

Technorati Tags: alternative energy,green economy,renewable energy

Chicago plans gargantuan 1140 acre LEED neighborhood development

Looks like Chicago city planners have big ideas for a 1140 acre swathe of land in South Chicago.  The spot is former U.S. Steel land, and planners have been mulling development options for the spot since about 2000.  Now, they'd like to submit a proposal for a green development with sustainable neighborhoods, green buildings, street cars, and bicycle paths, etc.

Officially referred to as the "South Chicago LEED Neighborhood Development Initiative," the plan would be rated by the USGBC's LEED-ND pilot program and would unravel over roughly 20-30 years. 

The gargantuan development aims to mix smart growth, mixed uses, and LEED-ND guidelines to create a livable, vibrant, sustainable new community in South Chicago.  It's certainly one of the boldest initiatives going on across the nation right now. 

Early on, one of the challenges with the plan was figuring out what to do with 573 acres of No Man's Land, a desolate area covered in slag (a rock-hard by product of making steel).  They fixed that by taking excess sediment from the Illinois River and covering slag with it.  Now, the area is growing plants and very well might become the foundation to one of the largest green developments in the U.S.

Chicago Plans Gargantuan 1140 Acre LEED Neighborhood Development
Fri, 16 Jan 2009 06:17:52 GMT

Technorati Tags: green economy,green construction

Obama: “We will double the production of alternative energy in the next three years”

From ClimateProgress:

[I will post the details of how Obama will achieve this remarkable goal when they become available. But clues can no doubt be found in his August energy plan, “Breaking news — A real energy plan for America: Efficiency now, 10% renewables by 2012, and one million plug-in hybrids by 2015,” where he pledges to “Require 10 Percent of Electricity to Come from Renewable Sources by 2012″ and 25 percent by 2025.]

In his big economic speech today at George Mason University, Obama pledged to jumpstart job creation and long-term growth by:

• Doubling the production of alternative energy in the next three years.
• Modernizing more than 75% of federal buildings and improve the energy efficiency of two million American homes, saving consumers and taxpayers billions on our energy bills.
• Making the immediate investments necessary to ensure that within five years, all of America’s medical records are computerized.
• Equipping tens of thousands of schools, community colleges, and public universities with 21st century classrooms, labs, and libraries.
• Expanding broadband across America, so that a small business in a rural town can connect and compete with their counterparts anywhere in the world.
• Investing in the science, research, and technology that will lead to new medical breakthroughs, new discoveries, and entire new industries.

His full remarks as prepared for delivery are below:

(more…)

Obama: “We will double the production of alternative energy in the next three years”
Thu, 08 Jan 2009 16:44:33 GMT

Technorati Tags: Obama,renewable energy,green economy

Green revolution: still possible amid deep recession?

By Mark Rice-Oxley

In 2008, oil prices spiked then collapsed, climate-change talks stuttered, and nuclear power reemerged. Europe banned incandescent light bulbs, Britain made cutting emissions legally binding, and US President-elect Barack Obama appointed the greenest US cabinet ever. But what does this augur for 2009? While nature and the economy can be wildly unpredictable, experts believe a warmer year is coming. At the same time, carbon-dioxide emissions are likely to drop as businesses slow. Some experts hope "green collar" jobs will help reverse the recession, but fossil fuels will probably continue to power much of the world for years. When and if the economy picks up steam, demand for oil will rise – as will prices.

Will the recession defeat efforts to combat climate change?

Leaders like Barack Obama are promising a "green new deal" through formidable investment in the green economy. Environmentalists say that green technology is far more labor intensive than traditional energy sources such as oil and nuclear. There will also be plenty of jobs in the energy efficiency segment, according to Lester Brown, founder of the Washington-based Earth Policy Institute, who sees benefits to both economy and environment from retrofitting buildings, for example.

"If you compare wind and solar technologies versus coal," he adds, "it's much more labor intensive by a factor of 2 or 3. So if you're interested in creating jobs, you have to look at efficiency and renewables."

Green revolution: still possible amid deep recession?
Wed, 07 Jan 2009 08:00:00 GMT

Technorati Tags: renewable energy,green economy,financial collapse