LG to invest $2M in new Solar Company

(ClimateRadar.com) South Korean giant, LG, is planning to start a solar subsidsiary called LG Solar. It will invest $2m to start, with at further $5m to operate. “LG Corp. has made a decision to advance into the green and renewable energy sector, which has high growth potential, though detailed plans are not yet decided,” said Yoo Won, LG Corp.’s executive director.

www.lge.com

CHINA: Renewable energy accounted for 8% in 2006

(ClimateRadar.com) According to a report from World Solar-energy Conference held in Beijing, China produced 8% renewable energy in 2006, 0.5% more than in 2005. By the end of 2006, China’s solar energy heaters grew to a scale of 90 million square meters, accounting for 75.8% of the world’s total holding. According to China’s medium and long term development plan on renewable energy, by 2020 China’s renewable energy will account for 16% of total energy consumption.

http://www.swc2007.cn/english/indexEn.htm 

MunichRe covers renewable energy projects in India

(Source: The Economic Times, India) Munich Re has developed an insurance cover that will boost renewable energy projects in India by guaranteeing polluters in developed countries carbon credits from their investments in renewable energy projects in developing countries such as India. http://economictimes.indiatimes.com/News/News_By_Industry/Energy/Power/Renewable_energy_projects_to_get_Munich_Re_cover_in_India/articleshow/2391910.cms

INDIA: Cost of dealing with climate change: 2% of GDP

(The Times of India) The development projects India is undertaking to reduce impacts of climate change is already cutting into its GDP. In 2006-07, India used 2.17% of its GDP on projects that will help communities adapt to climate change and reduce their vulnerability to climate change.

http://timesofindia.indiatimes.com/India/Cost_of_dealing_with_climate_change_2_of_GDP_/articleshow/2373069.cms 

Nobel Peace Prize winner calls for new climate change deal

 

Nobel Peace Prize winner Muhammad Yunus called Thursday for the speedy enactment of a new, binding global agreement to cut greenhouse gas emissions, accusing the U.S. and China of being the world’s biggest polluters.

http://www.iht.com/articles/ap/2007/09/13/asia/AS-GEN-SKorea-Global-Warming.php

China establishes climate change monitor

China, already facing the negative effects of global warming, has established a national observation network to help mitigate climate change. The China Meteorological Administration (CMA) yesterday said it has completed a national climate observation network to help mitigate global warming.

http://economictimes.indiatimes.com/News/International__Business/China_establishes_climate_change_monitor_network/articleshow/2360881.cms

Japan’s voluntary scheme achieves 29% reductions

Japan’s environment ministry announced on Tuesday that under its Voluntary missions Trading Scheme, participant companies slashed their carbon ioxide (CO2) emissions by a total of 29 per cent in fiscal 2006, which ended in March this year.

http://www.pointcarbon.com/Home/News/All%20news/Kyoto%20International/Domestic%20policies/article24429-881.html

India becoming solar hub

After IT and pharma, India is on course to emerge as a solar hub. The Centre’s move to offer fiscal incentives to solar cell and photovoltaic (PV) manufacturers coupled with surge in global demand for renewable energy sources has triggered domestic and multi-national companies to set up shop here.

http://economictimes.indiatimes.com/News/News_By_Industry/Energy/Power/India_fast_emerging_as_a_solar_hub/articleshow/2353788.cms

China asking for renewable energy investments

Shares in renewable energy companies edged up on China’s stock exchanges Wednesday following the release of a national plan for reducing fossil fuel-based energy consumption, according to the country’s official Xinhua News Agency.

China’s energy czar, Chen Deming, said on Tuesday that China needs $265 billion in investments to meet its renewable energy goals by 2020, according to the English-language China Daily.
http://www.redherring.com/Home/22730

China launches ambitious renewable energy plan

China has released an ambitious plan to develop renewable energy to cut its surging carbon dioxide emissions.

http://www.scidev.net/content/news/eng/china-launches-large-scale-renewable-energy-plan.cfm