Top Stories
Insurance Companies Find There Is Money to
Be Made in Green Technology.—reliability high.
"Increasingly, insurers are stepping in to bridge the gap between
green intentions and actual capital outlays on green technology. They
are backstopping warranties on solar panels, helping start-up companies
with short track records offer multidecade guarantees on their products
and win over skeptical customers and project financiers. They are
studying weather patterns to offer protection in the event of, say,
unusually weak winds that fail to spin turbines, or a volcanic ash
cloud from Iceland that diminishes the output of a solar energy
facility in Spain." More examples. See column in The
New York Times. [New technology is
risky and climate change presents uncertainty. Insurance companies
quantify and finance uncertainty and transfer risk. So new uncertainty
creates opportunities for them. By packaging risk and selling it to
those willing to pay, insurance makes investment less risky.]
Japan to subsidize CO2-cut studies: report.—reliability
high.
"Since U.N. climate talks have stalled, Japan is hoping that
contributions to cut greenhouse gas emissions abroad will produce
carbon credits to offset emissions at home over the next decade as an
alternative to the U.N.'s existing complex carbon market. If the
proposed 15 projects all proceed, they would reduce an estimated total
of 5 to 10 million tonnes of carbon dioxide equivalent a year, the
Nihon Keizai Shimbun daily said. ... The Ministry of Economy, Trade and
Industry (METI) has said it will announce on Tuesday which companies
are to conduct the studies and benefit from 500 million yen ($5.85
million) in government subsidies. The daily said the 15 projects
included forest preservation, geothermal power, energy-saving
technologies in homes and in industry." Story at Reuters.
[Japan may
eventually help finance carbon-saving projects in developing countries,
and count the reductions against its own emissions. At the same time
developed countries are pushing developing countries to reduce the
growth of their greenhouse gas emissions. But these proposed projects,
though they take place in developing countries, can't reduce the host
countries emissions or their would be double counting. Those who have
the money get the reductions, not the countries where the reductions
actually take place. How can rich countries complain about the growth
of emissions in the developing world when they siphon off any
reductions into their own accounts?]
Companies,
Industries, Markets and Supply Chains
Best Buy Wants to Become Top EV Seller.—reliability
high.
Electronics retailer Best Buy "are currently the leading retailers of
electric bikes and scooters, and have recently added Brammo motorcycles
to the mix. ... the company believes that, by educating its customers
about electric vehicles, it can become a preferred destination for them
to purchase EVs of all kinds, up to and including highway-capable cars
that one might normally expect to purchase at an auto dealership." From
triplepundit.
Four US States Now Get More Than 10% of
Electricity From Wind Power: Report.—reliability medium.
Some highlights from DOE's "2009 Wind Technologies Market Report".
"What's interesting to note is that 28 states saw new wind power
projects break ground, and four states now get more than 10% of their
electricity from wind power: Iowa (20%), South Dakota (13%), North
Dakota (12%), Minnesota (11%)." See TreeHugger.
PDF of report here. [Though that
wind-generated electricity enters the grid in the named states, the
credit for using this renewable power is spread around the country
through the sale of RECs. So the people of North Dakota, for example,
can't claim that 12% of the power they use is renewable. Someone else
has already bought that claim. See this earlier
post.]
Businesses Lag in Tracking Most
Sustainability Metrics.—reliability high.
"While a majority of facility and sustainability professionals are
tracking electricity use, many still don’t track for waste, water,
green purchasing, carbon footprint and other sustainability metrics,
according to a survey from iReuse. They also lag behind in using data
tracking tools." More highlights of the "Facility and Sustainability
Data Management Survey". From Environmental
Leader. PDF of report here.
[Benchmark
yourself.]
Government and
Regulation
China scraps preferential power rates for
energy-intensive firms.—reliability high.
"Preferential electricity rates granted by 22 provincial governments
for high energy-consuming businesses have been totally scrapped,
China's top economic planner announced Friday. All energy-intensive
enterprises must be subject to the new power tariff surcharges
introduced in May, said the National Development and Reform Commission
(NDRC) in a statement posted on its website." See Xinhua.
And:
China Risks 'Sacrificing' Growth as Energy Curbs Slow Factory
Production.—reliability high.
"China is lagging behind a target for reducing the amount of energy
used relative to gross domestic product, with only months to run in
Premier Wen Jiabao's five-year plan. Policy makers’ determination to
meet the goal may be tested by the need for 'sacrificing' growth in an
economy that is already cooling, according to UBS AG economist Wang
Tao. ... UBS estimates that an intensified campaign to achieve the goal
could shave 1.8 percentage points from second- half economic growth."
Story from Bloomberg
News.
