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Caribbean conservation and renewable energy initiatives get $64 million fund

Fifteen Caribbean governments and 17 corporations have made a $64 million funding commitment to help preserve the marine and coastal environment of the Caribbean. This will be used for projects aimed at accelerating the region’s efforts to transition to renewable energy. The commitment was the result of a high-level dialogue organized by The Nature Conservancy, with support from Virgin Unite, the non-profit entrepreneurial...

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Hong Kong to reduce waste by 40 percent in 2022

Hong Kong has launched an inclusive 10-year waste plan that aims to address the waste crisis in the region. As one of the most densely populated areas in the world, Hong Kong is faced with an imminent waste management problem. It generates around 6.4 million tons of waste annually and by 2015, existing landfills are expected to be full, according to the Environment, Transport and Works Bureau. To this end, the “Hong Kong...

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Rainforest protection needed for hydropower production - study

Meeting Brazil’s energy demand doesn’t just require investments in energy projects – specifically in hydropower – but also efforts to conserve the Amazon’s forest cover. Hydropower is currently considered the most reliable and feasible way to generate power for Brazil using non-coal resources. Over 45 new plants are planned in Brazil alone, with one project, the Belo Monte dam expected to...

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U.S. tops green tax index

The United States is the leading country in terms of using tax as a tool to promote sustainable corporate activity and achieve green policy goals, according to the first-of-its-kind KPMG Green Tax Index. Green tax - which could be in the form of grants, subsidies and loan - is imposed on goods and services that produce environmental pollutants. This excise tax is intended to offset the negative impacts caused...

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Clean energy progress has stalled – I.E.A.

Global clean energy development is alarmingly slow to prevent the adverse impacts of climate change, warned the International Energy Agency. In the report, Tracking Clean Energy Progress, the agency highlighted that the world is unlikely to meet the interim 2020 targets to keep the temperature below 2 degrees Celsius. Carbon intensity of the global energy supply has barely improved in the past two decades. With...

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Desert Peak 2 enhanced geothermal system project delivering power to grid

The Desert Peak 2 geothermal power plant in Nevada has successfully delivered 1.7 megawatts of power to the grid. With this announcement from the United States Department of Energy on April 12, the geothermal project from Ormat Technologies has become the country’s first grid-connected commercial enhanced geothermal system project. Based in Churchill County, Nevada, the Desert Peak 2 uses an enhanced...

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Stricter air pollution standards to drive shift from coal to natural gas for power generation

The United States’ Environmental Protection Agency has been cracking down on air polluters, setting air-quality standards to ensure all sectors – especially the power production sector – to bring down their emissions in order to clean the air. According to a study from Duke University, these air-quality standards could have an additional, beneficial effect of spurring the power production sector to shift from its...

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Brazil to experience transport fuel shortage

A recent Bloomberg New Energy Finance report has suggested Brazil to either boost investment in biofuels or amend policies in order to prevent impending transport fuel shortage. The Latin American country, which boasts its energy self-sufficiency, will not be able to meet its domestic light vehicle demand for fuel over the next four year, if current trends continue, warned the report. By 2021, demand...

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Cutting fossil fuel subsidies to benefit economy and environment – I.M.F.

Cutting global energy subsidies, estimated to amount to $1.9 trillion worldwide, would deliver significant gains for the economy and the environment, suggested a new study by the International Monetary Fund. The international organization estimated that subsidies for fossil fuels are equivalent to 2.5 percent of the world gross domestic product, or about eight percent of all government revenues. Globally,...

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Melbourne now a carbon neutral city

Melbourne is now a carbon-neutral city, as certified by the Australian government’s independent carbon offsetting authority. In an effort to become one of the world’s sustainable and liveable cities, Victoria’s capital has reduced and offset its carbon emissions, meeting the National Carbon Offset Standard set by Low Carbon Australia. “We’re already one of the world’s most liveable cities, our challenge now is to ensure we are...

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