BG Group proposes Origin Energy takeover

Global integrated gas major BG Group has proposed a $12.9 billion takeover of Origin Energy. Origin says it has not yet considered the proposal from BG Group to acquire each share for $14.70 cash. Headquartered in the UK, BG Group operates in a number of sectors, including LNG, transmission and distribution across 27 countries. In […]

Impact of global warming will rival great depression: Garnaut

Professor Ross Garnaut, author of the Australian government’s climate change review, has warned that the world faces severe consequences if policy makers ignore the economic impact of global warming. In an article published in the Australian National University’s biannual Asian-Pacific Economic Literature, Professor Garnaut likened the shocking economic impacts of unexpected climate change events could […]


NSW Premier Morris Iemma’s comments that NSW will face black-outs in five years if the state’s electricity sector is not privatized have been branded “irresponsible scare tactics” by one Australia’s largest solar power companies, Energy Matters. Mr Iemma caused uproar at the weekend by defying a 702 to 107 vote against the privatisation of the […]

Carbon market gathering momentum

Nymex-backed Green Exchange saw option contracts worth 1.15 million CERs trade in the first week of its launch. The bourse introduced option contracts for buying and selling CERs for clearing on the New York Mercantile Exchange on 21 April 2008. The move to trading options in the fledgling carbon market is gathering pace. London-based European […]

Tokyo Stock Exchange to study emissions trading market

The Tokyo Stock Exchange has announced it will begin a full-fledged study in May 2008 toward creating Japan’s first greenhouse gas emissions trading market in 2009. The panel, called the TSE Carbon Market Study Group, will be made up of about 30 experts in fields related to emissions trading, and the exchange will serve as […]

Canada’s carbon registry should be operational by end of May

Canada’s carbon registry should be operational by 28 May 2008, according to government officials. In early April 2008, Canada failed a UN review of compliance obligations under the Kyoto Protocol because it did not yet have an operational registry. Greece, another country to fail the review, has been barred from participating in the international trading […]

Renewable energy use expected to double over the next 10 years

Solar, wind and other sources of renewable energy could double or even quadruple their presence in the United States in the next 10 years, an executive in General Electric’s energy finance unit has said. GE Energy Financial Services Managing Director of the renewable energy group Kevin Walsh said renewables could make up between 5% and […]

US proposal will create demand for 1 billion carbon credits

A proposal to implement a greenhouse gas cap-and-trade system in the US will create demand for 800 million to 1 billion carbon credits, according to JP Morgan. A bill introduced by Independent Senator Joe Lieberman and Republican John Warner, which comes up for debate on the full senate floor in June 2008, aims to reduce […]

De Boer says the world will have to embrace nuclear power

UNFCCC Executive Secretary Yvo de Boer said that he sees a US plan to cap rising greenhouse gas emissions by 2025 as only a “first offer”, adding that all three presidential candidates had promised a tougher stance. De Boer also said that as the fight against climate change gets more urgent, the world will have […]

Economic modelling shows emissions trading is effective

A summary of economic modelling shows emissions trading is an effective approach to reducing New Zealand’s greenhouse gas emissions in the long term, according to NZ Climate Change Minister David Parker. The report summarises general equilibrium modelling undertaken by Infometrics for the government’s Emissions Trading Group and the Climate Change Leadership Forum convened in October […]