Energy Efficiency and Climate Change News: : 3 - 9 September 2009
Industry, business and utilities
Emissions trading/Carbon market
General Policy
India’s growth set to lift emissions fourfold (Financial Times, 3 September 2009)
India’s Ministry of Environment and Forests released a report compiling five different projections of India’s GHG emissions to 2030, indicating these could rise to between 4 and 7.3 billion tonnes of CO2 equivalent by 2030, compared to 1.4 billion tonnes last year. On a per capita basis, four of the five studies estimated these would remain less than 4 tonnes/capita in 2030, below the 2005 average of 4.22 tonnes.
http://www.ft.com/cms/s/0/9a279d6e-97b0-11de-a927-00144feabdc0.html ; Press release http://pib.nic.in/release/release.asp?relid=52329 and Report: http://www.indiaenvironmentportal.org.in/files/GHG_report.pdf
France sees initial carbon tax at 14 euros per metric ton (Reuters, 3 and 4 September, 2009)
In an interview with Figaro magazine, French Prime Minister François Fillon said the government would be phasing in a planned carbon tax, initially setting it at the current market price of EUR 14/tonne. He said the government would take measures to protect poor households hit hardest by such a tax, and wouldn’t apply the tax “uniformly to those French people that have choices and those who don't". A recent poll conducted said that 74% of respondents opposed a carbon tax, with 56% saying they were very opposed. A spokesperson for French President Nicolas Sarkozy said that no decision had yet been taken on the initial level of the carbon tax.
http://www.reuters.com/article/environmentNews/idUSTRE58324M20090904; http://www.reuters.com/article/GCA-GreenBusiness/idUSTRE5815IE20090903
France moves to head off storm over its carbon levy (Financial Times, 8 September 2009)
By announcing possible levels of the “climate-energy contribution” before the off-setting cuts to make the proposed carbon tax revenue neutral, France’s government is facing strong public and political opposition to its carbon tax plan. Environmentalists criticise announcements that the tax would initially be set at current market prices, from EUR 14 to EUR 16 per tonne of CO2, for being too low to have an impact on emissions. A government commission studying the carbon tax had proposed a starting rate of EUR 32/tonne, rising to EUR 100 by 2030.
http://www.ft.com/cms/s/0/b4d17c40-9c0e-11de-b214-00144feabdc0.html
Japan business lobby to oppose climate target: report (Reuters, 3 September 2009)
The newly elected Democratic Party of Japan may be facing stiff resistance to its campaign promise of undertaking a GHG emissions reduction target of 25% by 2020 compared with 1990 level. A senior Keidanren business lobby official was quoted by a Japanese paper as saying the target would put the country in a disadvantageous position, and that Keidanren would seek to dissuade the government from committing to the target. The auto industry lobby said the target was not feasible, while power industry representatives said it was extremely tough.
http://www.reuters.com/article/GCA-GreenBusiness/idUSTRE58207Z20090903?sp=true
China still wary about industry CO2 cuts: officials (Reuters, 3 September 2009)
New research by Ecofys and China’s Energy Research Institute highlights the importance of limiting emission growth from China’s industrial sectors. While China is in principle not opposed to sector targets, it is still waiting to see what concrete financial support will be offered by industrialised nations. The major point of contention would be determining the benchmark against which emissions cuts will need to be made, and whether targets are absolute or intensity based. China is also wary of EU discussion regarding reforming the CDM, and using programmatic CDM as a stepping-stone towards a global cap-and-trade system.
http://www.reuters.com/article/GCA-GreenBusiness/idUSTRE5822LW20090903
EU's Barroso plans "radical" action to cut CO2 (Reuters, 3 September 2009)
Presenting his political ambitions should he be elected for a second term, European Commission President José Manuel Barroso said decarbonising Europe’s electricity and transport sectors would be a priority for the next five years. He said a “root and branch reform” of the EU budget would be needed for objectives to be reached, that all forms of transport should be decarbonised, and that an European supergrid for electricity and gas should be the next big European project.
http://www.reuters.com/article/GCA-GreenBusiness/idUSTRE5824JY20090903; Manifesto http://ec.europa.eu/commission_barroso/president/pdf/press_20090903_EN.pdf ; Press release http://europa.eu/rapid/pressReleasesAction.do?reference=IP/09/1272&format=HTML&aged=0&language=EN&guiLanguage=en
Gabriel welcomes Greenpeace report on subsidies to nuclear industry (BMU press release, 3 September 2009)
Following a Greenpeace report showing that the German nuclear industry had received over EUR 150 billion in subsidies since 1950 despite making significant profits, Germany’s environment minister Sigmar Gabriel proposed has proposed the introduction of a nuclear tax of EUR 0.01/kWh to recover part of the subsidies.
http://www.bmu.de/pressemitteilungen/aktuelle_pressemitteilungen/pm/44889.php
India to take measures on climate change before reaching Copenhagen (Modern Ghana, 3 September 2009)
Though India will not and should not undertake legally binding targets on emission levels, India’s Environment Minister Jairam Ramesh said India was already undertaking climate change mitigation activities ahead of the Copenhagen talks. These include mandatory energy efficiency standards for major appliances, improved vehicle fuel efficiency standards, the requirement for all states to develop climate change action plans, and also the set-up of an India Carbon Markets Conclave to discuss an emerging Indian carbon market. India will also meet with other SAARC countries to initiate a dialogue on climate change among South Asian countries, and Minister Ramesh said India and Pakistan “surprisingly and pleasantly” share the same views on climate change issues.
http://www.modernghana.com/news/236172/1/india-to-take-measures-on-climate-change-before-re.html
Ireland may consider carbon tax for non-ETS sectors
Ireland’s Commission on Taxation 2009 Report recommends that the country introduce a carbon tax for sectors not covered by the EU ETS, which should initially be set at EUR 20/tonne of CO2 and could raise up to EUR 500 million annually. According to ENDS, an Irish official indicated the tax could be announced in the government’s 2010 budget proposal.
http://www.taxcommission.ie/downloads/Commission%20on%20Taxation%20Report%202009.pdf (Section 9 of the report)
Salazar says U.S. climate bill high on agenda (Reuters, 8 September 2009)
Despite Washington’s current focus on healthcare reform, US Interior Secretary Ken Salazar said that climate change remained an important issue which President Obama wanted to see legislative activity on by the end of the year. While the US EPA could begin regulating carbon pollution if no agreement is reached on a climate bill in the Senate, he pointed out that climate change “will not be addressed in a complete and long-term manner unless there is congressional action."
http://www.reuters.com/article/GCA-GreenBusiness/idUSTRE58764P20090908
Industry, business and utilities
US utilities hit as consumers go green (Financial Times, 3 September 2009)
An increasing number of business and residential customers in the United States are combining energy efficiency measures with renewable energy to reduce their electricity consumption – which is putting a strain on utilities already facing reduced industrial demand as a result of the economic crisis. Even after the economy picks up, analysts say demand will remain lower as customers aim to reduce their consumption; a situation harming utilities’ bottom line, and leading to discussion of customers paying a flat fee for electricity.
http://www.ft.com/cms/s/0/28bfbdd2-97dd-11de-8d3d-00144feabdc0.html
China eyes export ban on rare metals used in hybrids and wind turbines (BusinessGreen, 2 September 2009)
In a draft report released by China’s Ministry of Industry and Information Technology in July, a total ban on shipments of certain rare earth metals, and export controls on others, could be enacted as part of China’s Rare Earths Industry Development Plan 2009-15. The US and the EU have filed complaints with the WTO, arguing that China’s export restrictions on rare earth metals create unfair advantages for domestic industry. Certain of the rare earths that could be banned or subject to export quotas are widely used in the manufacture of hybrid vehicles and wind turbines. More than 95% of the worlds rare earth metals are mined in China, mostly in inner Mongolia. The report also raised concern about the supply of rare earths, saying that at current mining rates reserves could be greatly reduced and insufficient to meet domestic demand.
http://www.businessgreen.com/business-green/news/2248745/china-eyes-ban-rare-earth-metal
Efficiency and waste to drive green tech sector (Reuters, 4 September 2009)
Investment in green technology stocks is picking up again, following a period of more cautious investments earlier in the recession. European companies are once again investing in promising technologies, with energy efficiency, wave and second-generation biofuels companies gaining steam.
http://www.reuters.com/article/GCA-GreenBusiness/idUSTRE5832U120090904?sp=true
China kicks off construction on first coal-to-gas plant (BusinessGreen, 4 September 2009)
Construction of China’s first large-scale coal-to-gas plant has begun in Inner Mongolia by China Datang, the country’s second-largest power producer. The plant will convert Mongolia’s abundant coal into synthetic gas which will be shipped to Beijing starting in 2010, with volumes steadily increasing until the final construction phase is completed in 2012.
http://www.businessgreen.com/business-green/news/2248934/china-kicks-construction-first
Clean Coal in China Said to Face ‘Staggering’ Costs (Bloomberg, 4 September 2009)
While the idea of CCS in China is being championed by the US and various European governments, Stanford University’s Richard Morse calls this “a western idea”, saying the high cost of CCS will be a major barrier to the development of the technology and would undermine the country’s “non-negotiable desire” to provide cheap energy for economic development. US DOE official David Sandalow said China and the US are looking at sharing expertise on CCS issues, and that China is especially interested in ways to use captured CO2.
http://www.bloomberg.com/apps/news?pid=20601091&sid=av__wX90MZIQ
India to set industry efficiency targets by December, 2010 (Reuters, 7 September 2009)
Director-general of India’s Bureau of Energy Efficiency (BEE) Ajay Mathur announced that India hopes to set energy efficiency targets for over 700 industrial units by December 2010. The industrial units targeted account for 40% of India’s fossil fuel use. He said India’s energy efficiency market was worth USD 15 billion and could result in energy savings of up to 2% of current energy use.
http://www.reuters.com/article/environmentNews/idUSTRE58614320090907?feedType=RSS&feedName=environmentNews
Four Ways to Hack the Smart Grid (Reuters, 1 September 2009)
Various security researchers highlight the different ways hackers could attack a smart grid, including sending worms and malwares into the smart grid network and allowing the attacker to shut down meters remotely.
http://www.reuters.com/article/gwmTechnology/idUS122516174720090901
Buildings
New plan to help homes cut emissions starts today (DECC press release, 1 September 2009)
A new Community Energy Savings Programme was launched 1 September in the UK. Energy companies will be spending approximately GBP 350 million over the next three years to deliver energy savings to whole houses and streets, concentrating on some of the poorest areas of the UK.
http://www.decc.gov.uk/en/content/cms/news/pn095/pn095.aspx
Energy-gulping buildings ripe for savings (Reuters, 3 September 2009)
Energy efficiency building retrofits are booming in the United States, at a time where concern regarding costs is coinciding with significant government stimulus money and tax incentives for such measures; energy service companies are thriving, with the industry growing 22% a year since 2004. Some are also working directly with utilities, finding energy-saving solutions that could receive incentives. The EPA’s building Energy Star programme labelled 57% more buildings in 2008 compared with a year earlier.
http://www.reuters.com/article/GCA-GreenBusiness/idUSTRE5817EA20090903?sp=true
MLIT Finalises Housing Energy Conservation Label Guidelines (JFS, 2 September 2009)
Japan’s Ministry of Land, Infrastructure, Transport and Tourism (MLIT) released final Housing Energy Conservation Label Guidelines on 16 June 2009. These outline how to perform comprehensive energy efficiency evaluations and display the results on a label. Guidance covers HVAC and water heating systems, as well as thermal insulation of exterior walls and windows. The label is green if the evaluation was performed by a registered third-party, and blue if it results from a self-assessment by the builder.
http://www.japanfs.org/en/pages/029305.html
Transport
India to make fuel efficiency mandatory from 2011 (Reuters, 2 September 2009)
India’s Environment Minister Jairam Ramesh said that fuel efficiency standards would be made mandatory for the transport as of 2011, measured in km/litre. He also said that the winter session of Parliament (in November) would see significant modifications to India’s Energy Conservation Act, necessary for implementing a white certificate trading scheme.
http://news.yahoo.com/s/nm/20090902/india_nm/india421782
Toyota To Ask New Japan Government To Extend Green Car Aid (Planet Ark, 3 September 2009)
Toyota Motor Corp. said it will request the new ruling Democratic Party of Japan to maintain tax cuts on the purchase of more environmentally friendly cars till March 2012, as originally planned. It is also seeking an extension of two years to a recently enacted subsidy scheme for the purchase of new environmentally friendly cars to March 2012, currently set to expire in March 2010.
http://planetark.org/wen/54507
Mitsubishi, Peugeot ink tie-up on electric cars (Reuters, 4 September 2009)
Mitsubishi and Peugeot-Citroen have finalised a previously announced agreement to cooperate in the development and marketing of electric cars. Under the agreement, Mitsubishi motors will provide electric vehicles to Peugeot-Citroen, which will sell them in Europe under its brand name. It aims to sell 25 000 vehicles annually.
http://www.reuters.com/article/GCA-GreenBusiness/idUSTRE58325120090904?sp=true
Europe urged to reduce airlines' NOx emissions
A new report by Dutch environmental group CE Delft calls on the European Commission to introduce policies that curb the aviation sector’s nitrogen oxide emissions. Plans to reduce the sector’s NOx emissions were postponed due to scientific uncertainty over their global warming effect, but the CE Delft report concludes that the sector’s impact on climate change is twice that of its CO2 emissions. The EU ETS will thus be insufficient to tackle the sector’s climate change impact, as will increased use of biofuels.
CE Delft press release (in Dutch) http://www.ce.nl/index.php?go=home.showBericht&bericht_id=43&PHPSESSID=122bae612bf7270d05cb57929ecc5f8a
Has the Time Finally Come for Diesel Hybrids? (Reuters, 2 September 2009)
The high costs associated with hybrid diesel-electric motors in light duty vehicles has meant little activity in this field, though this may now be changing. Peugeot, Citroen, BMW and Mercedes Benz are some of the companies currently developing diesel hybrids, though not currently as high-volume cars.
http://www.reuters.com/article/mnGreenAutos/idUS352670618520090902
Planes 'to reset climate targets' (BBC, BusinessGreen, 9 September 2009)
The UK’s Climate Change Committee has warned that without a cap on aviation emissions, the UK may need to make even greater cuts in GHG emissions by 2050 than the 80% reduction from 1990 levels currently planned – going up to a 90% cut. The Committee made recommendations to ensure the aviation sector to play its part in climate change mitigation, since without further action the sector could account for 15-20% of manmade CO2 emissions in 2050.
http://news.bbc.co.uk/2/hi/science/nature/8243922.stm ; http://www.businessgreen.com/business-green/news/2249143/government-panel-argues
Appliances and equipment
Industry endorses voluntary commitment for “complex” set-top box energy use
The first voluntary commitment under the EU ecodesign directive came closer to fulfilment after 26 EU electronics industry manufacturers pledged to reducing the energy consumption of “complex” set-top boxes in two phases. The first set of targets are set for July 2010, limiting annual energy consumption to between 40 and 45 kWh. Products with additional functions (e.g. remote recording and high definition), would be limited to using 20-60 kWh per year. A second set of stricter standards would then apply from July 2013 onwards. Thus far, 26 manufacturers have endorsed the initiative, and industry group DIF expects that signatories will cover 90% of the market.
DIV, Draft voluntary agreement http://www.difgroup.com/uploads/DocsAndMediaManager/documents/Voluntary%20Industry%20Agreement%20CSTBs%20-%20V%202%20_12%2006%2009_.pdf and Q&A http://www.difgroup.com/uploads/DocsAndMediaManager/documents/DIF%20Q&A%20-%20On%20the%20Industry%20Voluntary%20Agreement.pdf
Berlin's electronics fair pushes greener future (Reuters, 9 September 2009)
At Berlin’s IFA electronics fair, companies showed off their energy efficient goods, such as zero-watt PCs and energy-efficient television screens. The German Environment Ministry set up a booth demonstrating the standby power consumption of various appliances, while also showcasing helpful gadgets to reduce consumption. Even large-screen plasma TV booth advisors said that while design, size and quality remained what customers looked for, an increasing number of consumers asked questions about energy consumption.
http://www.reuters.com/article/GCA-GreenBusiness/idUSTRE58836E20090909?sp=true
Emissions trading/Carbon market
EU plans temporary fix to carbon tax fraud threat (Reuters, 3 September 2009)
The European Commission has said it will be proposing a temporary solution to carousel fraud in carbon markets, saying that uncoordinated action taken by individual countries could simply cause the fraud to move from one country to the other. It said that while further analysis was needed, information provided to date by member countries justified its taking swift action.
http://www.reuters.com/article/GCA-GreenBusiness/idUSTRE5823LE20090903
Contract between Latvia and Spain on selling assigned amount units (Ministry of the Environment press release, 4 September 2009)
The Latvian government has a signed a contract for the sale of 5 million AAUs to Spain for the latter’s compliance with Kyoto Protocol obligations. Funds obtained through the sale must be use for GHG reduction purposes, including two energy efficiency programmes (for municipal buildings and educational establishments), use of renewable energy technologies, and development of new technologies to limit GHG emissions.
http://www.vidm.gov.lv/eng/informacija_presei/preses_relizes/?doc=9489
Tokyo Electric to use carbon market (Reuters, 8 September 2009)
Tokyo Electric Power Company (TEPCO), Asia’s largest utility and one of the top buyers on the global carbon market, says it may continue to purchase carbon credits post-2012 to meet its industry group’s voluntary carbon intensity goal. The ten-member Federation of Electric Power Companies of Japan has said a goal for the industry to emit 0.33kgCO2/kWh in the 2020/21 financial year, compared with 0.44kg in 2008/09. TEPCO says it will establish its 2020 target in a bottom-up manner, focussing on what can be achieved through its own efforts. The company reiterated its opposition to the establishment of a cap-and-trade scheme in Japan.
http://www.reuters.com/article/GCA-GreenBusiness/idUSTRE5870ED20090908?sp=true
EPA could create U.S. CO2 cap-and-trade: Sierra (Reuters, 9 September 2009)
Sierra Club executive director Carl Pope told journalists that while the EPA does not have the desire nor the resources to regulate carbon emissions ahead of any action taken by Congress, he argued that “if Congress doesn't solve this problem, they will have no choice but to solve it." The EPA could begin by regulating other forms of pollution from coal-fired plants, creating an environment in which the most-polluting units would be retired, and then moving towards regulation of carbon dioxide emissions. This could be done in a variety of ways, including by establishing a cap-and-trade scheme, which Pope pointed out could generate revenues through carbon permit auction.
http://www.reuters.com/article/GCA-GreenBusiness/idUSTRE5875WW20090909
U.N. panel to rule on $144 million China wind projects (Reuters, 8 September 2009)
The CDM executive board is reviewing 17 wind power projects in China, following a reduction in the wind power premium tariffs awarded by the Chinese government, at least in certain regions. The board’s chair, Lex de Jonge, said such a change could have an impact on the board’s decision on whether the projects are additional or not, since a drop in government funding could indicate the projects are financially self sufficient. De Jonge said the board felt no pressure for lobby groups such as IETA, saying “With so much money involved, people have interests and if they don't see their interests followed they start complaining. I don't feel pressured about this. To me it's normal."
http://www.reuters.com/article/GCA-GreenBusiness/idUSTRE5872YM20090908?sp=true
Climate change negotiations
EU details funding to break climate stalemate (Reuters, 4 September 2009)
In a draft of the EU report on financing for climate change seen by Reuters, the EU says it could offer up approximately a quarter of the money needed to break a deadlock between industrialised and developing nations as part of global climate talks in December. The report estimates that developing countries will need EUR 66-80 billion by 2020 for mitigation and adaptation. It calculates the EU’s faire share of contribution towards financing at 20-30%.
http://www.reuters.com/article/GCA-GreenBusiness/idUSTRE5833Y820090904?sp=true
EU cuts funding for post-Kyoto climate deal (Reuters, 8 September & Financial Times 9 September 2009)
In a draft European Commission document seen by Reuters this week, A European blueprint for the Copenhagen deal, the EC’s potential contribution to developing countries was lowered to EUR 2-15 billion annually by 2020, from a EUR 13-24 billion figure seen in a draft obtained by Reuters last week. Part of this funding reduction came from the view that 80-90% of emissions cuts from industry and power sectors could be made through energy efficiency improvements, which would pay for themselves and could therefore be domestically financed. Greenpeace campaigner Joris den Blanken criticised this view, saying EU countries themselves had made slow progress when it came to stimulating energy efficiency investments: "The fact is these measures cost money at the start and don't pay back instantly," said den Blanken. In order to ease pressure on budgets, the Commission suggested that levies on shipping and aviation could be tapped. The Commission pegged developing countries’ total climate change financing needs at approximately EUR 100 billion per year by 2020, of which the EU could pay up to 30% (around EUR 15 billion) and the US up to 24% (EUR 12 billion). Around half of the total amount could be paid for by governments, with the Commission hoping the other half would be covered by the private sector.
http://www.reuters.com/article/GCA-GreenBusiness/idUSTRE5873RF20090908?pageNumber=2&virtualBrandChannel=0&sp=true ; http://www.ft.com/cms/s/0/bfe71868-9ca6-11de-ab58-00144feabdc0.html
Lamy warns of risk to Doha if climate talks fail (Financial Times, 4 September 2009)
Pascal Lamy, the head of the World Trade Organization (WTO), expressed concern that failure to agree internationally on climate change mitigation in Copenhagen would lead to protectionism and have adverse effects on trade talks, saying “our job at the WTO will become more difficult”.
http://www.ft.com/cms/s/0/8aba1aba-98ea-11de-aa1b-00144feabdc0.html
U.S.-China climate deal likely at Obama visit: senator (Reuters, 4 September 2009)
Washington Senator Maria Cantwell said a bilateral agreement between the US and China may come out of Barack Obama’s visit to China in November, at which climate change will be one of the leading topics. Senator Cantwell says she places “higher odds on the ability of the United States and China to reach an agreement than I would on us passing legislation or on having Copenhagen agreed.”
http://www.reuters.com/article/environmentNews/idUSTRE5830ZD20090904
Copenhagen Summit might see accord in 3 areas: Ramesh (Economic Times of India, 2 September 2009)
Speaking at a two-day India Carbon Market Conclave, Environment Minister Jairam Ramesh said that India saw three areas on which the global community might agree in Copenhagen: Forestry, including a REDD plus mechanism, CDM, and technology cooperation. He also said India was “hoping to curb ten per cent of the current level of emissions by 2012 and attract foreign investment worth $16 billion through over 1000 Green House Gas (GHG) mitigation projects”.
http://economictimes.indiatimes.com/Developmental-Issues/Copenhagen-Summit-might-see-accord-in-3-areas-Ramesh-/articleshow/4964800.cms
Africa may veto climate change deal: Ethiopian PM (Reuters, 3 September 2009)
Ethiopian Prime Minister Meles Zenawi said that African countries would form a united block at the Copenhagen negotiations, using their numbers to walk out should the continent’s demand for financing for climate change mitigation and adaptation not be met. Prime Minister Zenawi did not indicate how much money would be sought in Copenhagen. Ten African leaders met in Ethiopia last month to agree on a common position ahead of climate change talks.
http://www.reuters.com/article/environmentNews/idUSTRE5822YX20090903
Japan emissions target hinges on international deal (Reuters, 4 September 2009)
The tougher GHG emissions reduction target of 25% from 1990 levels by 2020, announced by the newly elected Democratic Party as part of their election campaign, is “not something Japan will do on its own”, according to party secretary-general Katsuya Okada. The target is premised on an international agreement “that includes other countries such as India and China”.
http://www.reuters.com/article/environmentNews/idUSTRE5831BZ20090904?feedType=RSS&feedName=environmentNews&sp=true
Climate change funding talks stall at G20 (Reuters, 5 September 2009)
G20 Finance Ministers were unable to agree to concrete measures regarding climate change financing, with emerging economies fearing that certain proposals would stifle their economic growth. Several developing country governments said the G20 was not the correct forum to discuss climate change issues, and remained wary of proposals for private sector funding of climate change mitigation.
http://www.reuters.com/article/GCA-GreenBusiness/idUSTRE5841RZ20090905?sp=true
G-20 demands emission cuts from India (Times of India, 4 September 2009)
The Times of India, quoting a “senior Indian official”, reports that the G-20 Secretariat has prepared an overview document that does not reflect the views of developing countries, calling on them to implement carbon taxes, reduce subsidies, and undertake market-based measures to mitigate climate change to achieve substantial deviation from business-as-usual emissions. India had expressed opposition to the draft paper which was not reflected, and the document did not adequately address the issue of industrialised countries’ providing funding, according to the Times of India.
http://timesofindia.indiatimes.com/news/environment/global-warming/G-20-demands-emission-cuts-from-India/articleshow/4969943.cms
Hatoyama sticks to 25% GHG curb plan (Financial Times, 8 September 2009)
In a speech to a Tokyo environmental forum yesterday, Yukio Hatoyama, due to become Prime Minister on 16 September, reiterated his pre-election pledge to reduce Japan’s GHG emissions 25% from 1990 levels by 2020, despite strong business opposition. He stressed that the target would depend on all other major nations taking part in a fair and effective global agreement to limit emissions.
http://www.ft.com/cms/s/0/ae350d2a-9c0e-11de-b214-00144feabdc0.html
Climate cash could create "Copenhagen stimulus" (Reuters, 8 September 2009)
Nick Robins, head of HSBC's climate change research centre, said HSBC analysts have identified over USD 500 billion of fiscal stimulus measures as targeted towards boosting renewable energy, efficiency, public transport and water treatment. Though such spending is exclusively focussed on domestic economies, Robins argues that a portion of this spending could be contributed towards spending in these sectors in other, developing, countries, forming a “Copenhagen stimulus”.
http://www.reuters.com/article/GCA-GreenBusiness/idUSTRE5874Z220090908?sp=true