Green Investment Bank appoints general counsel
Euan McVicar from law firm Pinsent Masons has become the new legal adviser for the Green Investment Bank (GIB), after spending a large proportion of his career working on the financing of energy projects. The bank’s CEO Shaun Kingsbury said he is delighted to have McVicar on board, adding...
Leonardo DiCaprio art auction raises $38.8m for wildlife conservation
Hollywood actor Leonardo DiCaprio has raised $38.8m (£25.5m) through a charity art auction event, as the rich and famous bid dug deep to help fund environmental causes. The Telegraph reported how the Titanic star had been gathering artwork from artists and collectors in the months leading up to the event....
Big oil companies under investigation for price rigging
The European commission has raided the offices of several oil companies, amid claims that they might have distorted oil prices for more than a decade at the expense of consumers. Those involved include BP, Royal Dutch Shell and Platts. European authorities conducted “unannounced investigations” in three countries, including the...
Switzerland, Germany and Austria see sustainable investment growth
Over €120 billion (£101 billion) is invested sustainably in Switzerland, Germany and Austria, according to the sustainable investment trade body that covers the three countries. In a report, Forum Nachhaltige Geldanlagen (FNG) – the Sustainable Investment Forum – also revealed that investments into sustainable funds in the regions now...
Scotland looks to unlock renewables potential of its islands
Investing in clean energy projects on Scottish islands would help achieve the UK’s 2020 renewables target and create thousands of jobs for the local communities, a new study has said. The report, published by the UK and the Scottish governments, found that while there are many opportunities to exploit...
Brazil hydropower potential linked to Amazon conservation
Deforestation of the Amazon rainforest may significantly decrease the amount of electricity produced from hydropower in the region, scientists have warned. A new study published in the journal Proceedings of the National Academy of Science, shows that rainforests are crucial in generating hydroelectricity by providing the rainfall, streams and...
UK could say no to long-term vehicle emissions target
The government has contested an EU proposal for a tougher 2025 emissions target for motor vehicles, because it believes that this will delay earlier targets in 2015 and 2020. Lib Dem MEP Fiona Hall proposed to Europe that a target for 2025, which would prevent cars from emitting more...
British Gas profits shoot up because of 2013 cold spell
Centrica, the firm that owns British Gas, has recorded greater profits in the first four months of 2013 than it did in 2012 – because homeowners have used more gas for heating to combat this year’s cold snap. Consumption of gas went up by 18%, while electricity use rose...
Renewables trade body disappointed with new biomass development cap
Government plans to introduce a cap on new biomass developments to limit public spending are “not without risk”, according to trade body the Renewable Energy Association (REA). Despite its engagement with the Department of Energy and Climate Change (DECC) over establishing an effective process to implement a 400 megawatt...
Global investors call for guidelines for sustainability disclosure
The Investor Network on Climate Risk (INCR) has produced a consultation paper that would force firms listed on global stock exchanges to reveal their environmental, social and governance (ESG) strategies in their annual reports. The INCR is a network of institutional investors led by Ceres, includes the likes of...
Land grabbing in Laos and Cambodia breach human rights
Land grabbing by two large Vietnamese firms has driven communities in Laos and Cambodia off their land and forced people to work on rubber plantations, according to international NGO Global Witness. Its report found that vast amounts of land have been acquired (land grabbing) for rubber plantations in the...
Stark warnings from experts on the consequences of climate change
Hundreds of millions of people will become displaced from their homes because of climate change, while the populations of one-third of common land animals will severely decline, experts have said. Economist Lord Stern, who seven years ago led the writing of a government-commissioned review of climate change, has warned...
Chile looks to volcanoes for geothermal energy
Chile is said to be considering geothermal energy as part of its energy mix, in an effort to boost its renewables sector and achieve energy self-sufficiency. The South American country is home to 10% of the world’s volcanoes, being part of the Pacific ‘Ring of Fire’ – the belt...
Conference calls for diversity in UK financial system
Recommendations on how to transform Britain’s “broken” financial system were suggested on Friday at a conference in London, attended by campaigners, economists and financiers. Speakers at Transforming Finance, which was organised by Friends of the Earth, the Institute of Chartered Accountants, the World Development Movement and others, said banking...
Commercial bakers ranked on palm oil use
Asda, Morrisons and Greggs have appeared at the bottom of a table that ranks 20 commercial bakers on their use of palm oil in their products. The study, by Ethical Consumer magazine and the Rainforest Foundation, was carried out in response to the latter’s report, Seeds of Destruction. The...
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