[Top News] from [REUTERS]
[Green Business]
Obama: Developing nations must cut greenhouse gases
Fri Nov 13, 2009 9:20pm EST
TOKYO (Reuters) - U.S. President Barack Obama said on Saturday that developing nations must take "substantial actions" to curb their greenhouse gas emissions and that the world's top emitters must have clear reduction targets.
He added in a major speech in Tokyo that there could be no solution to the problems of energy security and climate change without the involvement of the Asia-Pacific region's developing nations, but that these problems could also provide great opportunities.
"If we put the right rules and incentives in place, it will unleash the creative power of our best scientists, engineers, and entrepreneurs. It will lead to new jobs, new businesses, and entire new industries," Obama said.
About 190 nations will gather in Copenhagen from December 7-18 to work out a global deal to fight climate change after the first phase of the Kyoto Protocol ends in 2012, but talks so far have been clouded by disputes between rich and developing nations.
Obama, who has faced resistance from opposition Republicans and even some fellow Democrats to setting caps on U.S. emissions, has previously acknowledged that the U.S. Senate would not pass climate change legislation in time for Copenhagen.
"I have no illusions that this will be easy, but the contours of a way forward are clear. All nations must accept their responsibility," he said in his speech.
"America knows there is more work to do -- but we are meeting our responsibility, and will continue to do so."
The new government in Japan, the world's fifth-biggest emitter of greenhouse gases, has promised to reduce emissions by 25 percent by 2020 from 1990 levels in an effort to strengthen its diplomatic clout at the December meeting.
Tokyo is the first stop in Obama's nine-day Asian tour, which also takes him to Singapore for an Asia-Pacific economic summit, to China for talks likely to feature climate change and trade imbalances, and to South Korea, where North Korea's nuclear ambitions will be in focus.
(Reporting by Patricia Zengerle and Caren Bohan; Writing by Hugh Lawson; Editing by Rodney Joyce)
[Green Business]
Solar power startup Ausra looks to sell itself
Fri Nov 13, 2009 9:41pm EST
By Laura Isensee
LOS ANGELES (Reuters) - Kleiner Perkins and Khosla Ventures-backed solar thermal start-up Ausra Inc is in talks to sell itself with three potential buyers, two sources familiar with the company told Reuters on Friday.
The buyers could take a majority stake or snag the whole company and the discussions are at a "very aggressive level", said one source familiar with the company, who was not authorized to discuss the matter publicly.
Both sources said the interested companies were global conglomerates in the power generation business but declined to name them. The companies already have various power products, such as steam and gas turbines, and are committed to renewable energy. One interested party has engaged with Ausra previously, one source said.
Ausra declined to comment.
A sale of the high profile Silicon Valley start-up that has raised $130 million in venture capital would add to a string of recent deals and growing consolidation in the solar power industry.
Chinese solar wafer manufacturer ReneSola Ltd plans to buy Dynamic Green Energy Ltd while silicon maker MEMC Electronic Materials Inc plans to acquire privately-held SunEdison, which installs, maintains and finances commercial solar systems.
Privately held Ausra, which is based in Mountain View, California, launched as a solar thermal developer in 2006, when solar power and other clean technology were luring venture capitalists.
Two years ago the company landed a power purchasing agreement with California utility PG&E, a unit of PG&E Corp for a 117 megawatt solar thermal plant. Solar thermal plants use the sun's rays to heat liquid to create steam, which drives turbines and generates electricity.
Earlier this year, the company switched tracks, saying it would move away from developing projects and focus on supplying large-scale solar steam generators.
This month Ausra said that it canceled its agreement with PG&E and sold the project's land to the largest U.S. solar power company, thin film photovoltaic First Solar Inc.
Ausra also has deals in Jordan and Australia and other investors include Starfish Ventures and KERN Partners.
One source familiar with the company said that "extensive work" has been done at various stages of completion with the interested buyers.
"We're talking about meetings with dozens of people involved," said the person, who also was not authorized to speak publicly about the discussions.
(Reporting by Laura Isensee; Editing Bernard Orr)
[Green Business]
APEC leaders row back on 2050 emissions cut target
Sat Nov 14, 2009 2:13am EST
SINGAPORE (Reuters) - APEC leaders have watered down draft text on emissions cuts, dropping a reference to reductions of minus 50 percent by 2050, pledging instead to "substantially" cut carbon pollution by 2050, the latest draft leaders' statement says.
The meeting of Asia-Pacific leaders, ministers and CEOs in Singapore is the last major gathering of global decision-makers before a U.N. climate summit in Copenhagen in three weeks meant to ramp up efforts to fight climate change.
But hopes have been dashed that the Copenhagen meeting will yield a legally binding framework for a new deal . Arguments over targets have been a key stumbling block in U.N. negotiations and at other forums, such as the G8.
While the APEC talks are not part of the troubled U.N. climate negotiations, any future emissions goals the 21 members adopt is crucial because the group is responsible for about 60 percent of mankind's greenhouse gas pollution.
The initial draft leader's statement said "global emissions will need to... be reduced to 50 per cent below 1990 levels by 2050."
The latest draft says: "We believe that global emissions will need to peak over the next few years, and be substantially reduced by 2050, recognizing that the timeframe for peaking will be longer in developing economies."
In July, the G8 failed to get major developing nations China and India to sign up to the goal of halving world greenhouse gas emissions by 2050.
The 17 biggest emitters in the Major Economies Forum chaired by President Barack Obama on the sidelines of the G8 could only get China and India to agree temperature rises should be limited to 2 Celsius (3.6 Fahrenheit).
Conservation group WWF said this week it was doubtful the minus-50 percent goal would be in the final APEC leaders' declaration.
"Normally it doesn't survive in these kinds of circumstances," said Kim Carstensen, head of WWF's global climate initiative.
He was referring to past objections from China and other big developing nations on adopting a 2050 emissions target unless rich nations adopt a 2020 target as well.
Developing countries blame rich nations for most of mankind's greenhouse gas pollution to date and say they should make major reductions first.
The APEC draft doesn't mention a 2020 target but does retain a goal of limiting the global average temperature increase to within 2 degrees Celsius.
(Reporting by David Fogarty and Nopporn Wong-Anan; Editing by Bill Tarrant)
[Green Business]
South Korea adopts toughest emissions cut goal: source
Sat Nov 14, 2009 4:12am EST
By Yoo Choonsik
SINGAPORE (Reuters) - South Korea has adopted the toughest of its two voluntary 2020 emissions reduction targets, calling for a reduction of 4 percent from 2005 levels, a senior government source told Reuters on Saturday.
"The government has chosen the toughest option," said the source with direct knowledge of the decision. "I think it's important for countries to aim high."
The fastest-growing carbon polluter among the Organization for Economic Cooperation and Development (OECD) plans to announce its decision next Tuesday, with the other option calling for keeping 2020 emissions unchanged at 2005 levels.
"There was some opposition from the industrial sector but the government's will is very firm on this issue," the official added, without elaborating on the reaction from companies.
Early this month, South Korea dropped the weakest of the three options calling for an 8 percent increase in 2020 emissions from 2005 levels.
While not obliged under the U.N.'s Kyoto Protocol climate pact to announce binding cuts, South Korea has come under pressure to put the brakes on the rapid growth of its planet-warming emissions from industry and transport.
In response, the country took the lead among newly industrialized nations by announcing the three emissions targets in August.
The latest move showcases President Lee Myung-bak's firm commitment to making Asia's fourth-largest economy more energy-efficient.
The country's green investment plans already rank near the top in Asia. The government said earlier this year it would invest 107 trillion won ($92.53 billion) in environment-related industries over the next five years, or 2 percent of annual GDP each year.
Lee hosts a G20 summit next year, an event that will help him showcase the country's green policies.
($1=1,156.3 Won)
(Editing by Dean Yates)
[Green Business]
Obama: Developing nations must cut greenhouse gases
Fri Nov 13, 2009 9:20pm EST
TOKYO (Reuters) - U.S. President Barack Obama said on Saturday that developing nations must take "substantial actions" to curb their greenhouse gas emissions and that the world's top emitters must have clear reduction targets.
He added in a major speech in Tokyo that there could be no solution to the problems of energy security and climate change without the involvement of the Asia-Pacific region's developing nations, but that these problems could also provide great opportunities.
"If we put the right rules and incentives in place, it will unleash the creative power of our best scientists, engineers, and entrepreneurs. It will lead to new jobs, new businesses, and entire new industries," Obama said.
About 190 nations will gather in Copenhagen from December 7-18 to work out a global deal to fight climate change after the first phase of the Kyoto Protocol ends in 2012, but talks so far have been clouded by disputes between rich and developing nations.
Obama, who has faced resistance from opposition Republicans and even some fellow Democrats to setting caps on U.S. emissions, has previously acknowledged that the U.S. Senate would not pass climate change legislation in time for Copenhagen.
"I have no illusions that this will be easy, but the contours of a way forward are clear. All nations must accept their responsibility," he said in his speech.
"America knows there is more work to do -- but we are meeting our responsibility, and will continue to do so."
The new government in Japan, the world's fifth-biggest emitter of greenhouse gases, has promised to reduce emissions by 25 percent by 2020 from 1990 levels in an effort to strengthen its diplomatic clout at the December meeting.
Tokyo is the first stop in Obama's nine-day Asian tour, which also takes him to Singapore for an Asia-Pacific economic summit, to China for talks likely to feature climate change and trade imbalances, and to South Korea, where North Korea's nuclear ambitions will be in focus.
(Reporting by Patricia Zengerle and Caren Bohan; Writing by Hugh Lawson; Editing by Rodney Joyce)
[Green Business]
Solar power startup Ausra looks to sell itself
Fri Nov 13, 2009 9:41pm EST
By Laura Isensee
LOS ANGELES (Reuters) - Kleiner Perkins and Khosla Ventures-backed solar thermal start-up Ausra Inc is in talks to sell itself with three potential buyers, two sources familiar with the company told Reuters on Friday.
The buyers could take a majority stake or snag the whole company and the discussions are at a "very aggressive level", said one source familiar with the company, who was not authorized to discuss the matter publicly.
Both sources said the interested companies were global conglomerates in the power generation business but declined to name them. The companies already have various power products, such as steam and gas turbines, and are committed to renewable energy. One interested party has engaged with Ausra previously, one source said.
Ausra declined to comment.
A sale of the high profile Silicon Valley start-up that has raised $130 million in venture capital would add to a string of recent deals and growing consolidation in the solar power industry.
Chinese solar wafer manufacturer ReneSola Ltd plans to buy Dynamic Green Energy Ltd while silicon maker MEMC Electronic Materials Inc plans to acquire privately-held SunEdison, which installs, maintains and finances commercial solar systems.
Privately held Ausra, which is based in Mountain View, California, launched as a solar thermal developer in 2006, when solar power and other clean technology were luring venture capitalists.
Two years ago the company landed a power purchasing agreement with California utility PG&E, a unit of PG&E Corp for a 117 megawatt solar thermal plant. Solar thermal plants use the sun's rays to heat liquid to create steam, which drives turbines and generates electricity.
Earlier this year, the company switched tracks, saying it would move away from developing projects and focus on supplying large-scale solar steam generators.
This month Ausra said that it canceled its agreement with PG&E and sold the project's land to the largest U.S. solar power company, thin film photovoltaic First Solar Inc.
Ausra also has deals in Jordan and Australia and other investors include Starfish Ventures and KERN Partners.
One source familiar with the company said that "extensive work" has been done at various stages of completion with the interested buyers.
"We're talking about meetings with dozens of people involved," said the person, who also was not authorized to speak publicly about the discussions.
(Reporting by Laura Isensee; Editing Bernard Orr)
[Green Business]
APEC leaders row back on 2050 emissions cut target
Sat Nov 14, 2009 2:13am EST
SINGAPORE (Reuters) - APEC leaders have watered down draft text on emissions cuts, dropping a reference to reductions of minus 50 percent by 2050, pledging instead to "substantially" cut carbon pollution by 2050, the latest draft leaders' statement says.
The meeting of Asia-Pacific leaders, ministers and CEOs in Singapore is the last major gathering of global decision-makers before a U.N. climate summit in Copenhagen in three weeks meant to ramp up efforts to fight climate change.
But hopes have been dashed that the Copenhagen meeting will yield a legally binding framework for a new deal . Arguments over targets have been a key stumbling block in U.N. negotiations and at other forums, such as the G8.
While the APEC talks are not part of the troubled U.N. climate negotiations, any future emissions goals the 21 members adopt is crucial because the group is responsible for about 60 percent of mankind's greenhouse gas pollution.
The initial draft leader's statement said "global emissions will need to... be reduced to 50 per cent below 1990 levels by 2050."
The latest draft says: "We believe that global emissions will need to peak over the next few years, and be substantially reduced by 2050, recognizing that the timeframe for peaking will be longer in developing economies."
In July, the G8 failed to get major developing nations China and India to sign up to the goal of halving world greenhouse gas emissions by 2050.
The 17 biggest emitters in the Major Economies Forum chaired by President Barack Obama on the sidelines of the G8 could only get China and India to agree temperature rises should be limited to 2 Celsius (3.6 Fahrenheit).
Conservation group WWF said this week it was doubtful the minus-50 percent goal would be in the final APEC leaders' declaration.
"Normally it doesn't survive in these kinds of circumstances," said Kim Carstensen, head of WWF's global climate initiative.
He was referring to past objections from China and other big developing nations on adopting a 2050 emissions target unless rich nations adopt a 2020 target as well.
Developing countries blame rich nations for most of mankind's greenhouse gas pollution to date and say they should make major reductions first.
The APEC draft doesn't mention a 2020 target but does retain a goal of limiting the global average temperature increase to within 2 degrees Celsius.
(Reporting by David Fogarty and Nopporn Wong-Anan; Editing by Bill Tarrant)
[Green Business]
South Korea adopts toughest emissions cut goal: source
Sat Nov 14, 2009 4:12am EST
By Yoo Choonsik
SINGAPORE (Reuters) - South Korea has adopted the toughest of its two voluntary 2020 emissions reduction targets, calling for a reduction of 4 percent from 2005 levels, a senior government source told Reuters on Saturday.
"The government has chosen the toughest option," said the source with direct knowledge of the decision. "I think it's important for countries to aim high."
The fastest-growing carbon polluter among the Organization for Economic Cooperation and Development (OECD) plans to announce its decision next Tuesday, with the other option calling for keeping 2020 emissions unchanged at 2005 levels.
"There was some opposition from the industrial sector but the government's will is very firm on this issue," the official added, without elaborating on the reaction from companies.
Early this month, South Korea dropped the weakest of the three options calling for an 8 percent increase in 2020 emissions from 2005 levels.
While not obliged under the U.N.'s Kyoto Protocol climate pact to announce binding cuts, South Korea has come under pressure to put the brakes on the rapid growth of its planet-warming emissions from industry and transport.
In response, the country took the lead among newly industrialized nations by announcing the three emissions targets in August.
The latest move showcases President Lee Myung-bak's firm commitment to making Asia's fourth-largest economy more energy-efficient.
The country's green investment plans already rank near the top in Asia. The government said earlier this year it would invest 107 trillion won ($92.53 billion) in environment-related industries over the next five years, or 2 percent of annual GDP each year.
Lee hosts a G20 summit next year, an event that will help him showcase the country's green policies.
($1=1,156.3 Won)
(Editing by Dean Yates)
