Snow Falling in Rome, First in 26 Years

Snow is falling in Rome. It is the first time in 26 years. In fact, the Colosseum, Palatine Hill, and the Roman Forum shutdown over ice fears. A cold front is sweeping across Europe. Nearly 11,000 villagers in Serbia are stuck by heavy blizzards. The last recorded substantial snowfalls in Rome were in 1985 and [...]

ICE Issued U.S. Patent for Electronic Trade Matching and Confirmation Tech

The press release states, “IntercontinentalExchange, a leading operator of global regulated futures exchanges, clearing houses and over-the-counter (OTC) markets, announced today that the United States Patent and Trademark Office has issued it a patent for the business process that underpins ICE eConfirm, the company’s electronic trade confirmation service. The patent (No. 8,007,743) covers the design [...]

IntercontinentalExchange Reports 26% Increase in 2010 Net Income

According to the press release, “IntercontinentalExchange, Inc. (NYSE: ICE), a leading operator of regulated global exchanges, clearing houses and over-the-counter (OTC) markets, today reported consolidated revenues of $285 million in the fourth quarter of 2010, an increase of 11% from fourth quarter 2009 revenues of $257 million. Consolidated net income attributable to ICE for the fourth quarter grew [...]

U.S. says financing core part of Cancun climate deal

Reuters reports, “Despite tough economic times, rich countries must make good on short-term pledges of billions of dollars in financing to help developing countries tackle global warming, the U.S. climate envoy said. The climate deal forged among more than 190 countries at the annual U.N. talks in Mexico’s Cancun beach resort on Saturday included agreements [...]

Chicago Climate Exchange shuttering emissions trading

The Chicago Climate Exchange will be shutting down at the end of the year. This was due to many factors, one such is the lack of interest of passing cap and trade laws in the US. This is not good news for cap and trade proponents as it will nearly end the trading of emissions [...]

ICE CDS Clearing Reaches $12 Trillion in Notional Cleared

According to the press release, “Through 21 September, ICE’s CDS clearing houses have cleared $12 trillion in gross notional with aggregate open interest of $1.1 trillion. ICE Clear Europe has cleared euro 3.4 trillion ($4.6 trillion) of gross notional value of CDS transactions, including euro 530 billion in single-name CDS, resulting in euro 443 billion [...]

European Development Finance Institutions to establish joint climate change fund

According to the press release, “Agence Française de Développement (AFD), the European Investment Bank (EIB) and European Development Finance Institutions (EDFI) will establish a joint climate change fund. AFD, EIB and EDFI members will sign a Memorandum of Understanding for THE INTERACT CLIMATE CHANGE FUND (ICCF) at a meeting in Bruges on Friday. The Parties [...]

Intercontinental Exchange Announces Acquisition of Climate Exchange

According to the Press Release, “Intercontinental Exchange (NYSE: ICE), a leading operator of regulated global futures exchanges, clearing houses and over-the-counter (OTC) markets, today announced that it has agreed on terms to acquire Climate Exchange plc (Climate Exchange or CLE), a leader in the development of traded emissions markets. Climate Exchange operates the European Climate [...]

Hopes for $2 trillion global carbon market fade

According to Reuters, “Investors are becoming less convinced that a global carbon market, estimated to be worth about $2 trillion by the end of the decade, can be established as uncertainty over global climate policy persists. The absence of legally binding global climate deal and a federal emissions trading scheme in the United States are [...]

Union of Concerned Scientists fight back on Climate Change

Backgrounder on the Union of Concerned Scientists: Founded in 1969, it was born out of a teach-in organized by a group of scientists and students at the Massachusetts Institute of Technology to protest the militarization of scientific research and promote science in the public interest. This non-profit has a history of going against US Conservative [...]

ADB chief says climate finance insufficient

According to Reuters, “The head of the Asian Development Bank said on Sunday that rich countries’ offers of funds to developing countries for measures to mitigate or adapt to climate change remain insufficient a week into U.N. talks. ADB President Haruhiko Kuroda also told Reuters in an interview that if governments were to fail to [...]

EPA: Greenhouse Gases Threaten Public Health and the Environment

According to the Press Release, “WASHINGTON – After a thorough examination of the scientific evidence and careful consideration of public comments, the U.S. Environmental Protection Agency (EPA) announced today that greenhouse gases (GHGs) threaten the public health and welfare of the American people. EPA also finds that GHG emissions from on-road vehicles contribute to that [...]

Obama surprises with Copenhagen summit decision

According to Reuters, “Obama was originally scheduled to attend the December 7-18 summit in Denmark on Wednesday before traveling to nearby Oslo to collect his Nobel Peace Prize. Some European officials and environmentalists had expressed surprise at the initial decision, pointing out most of the hard bargaining on cutting greenhouse gas emissions would likely take [...]

Sir Muir Russell to head the Independent Review into the allegations against the Climatic Research Unit (CRU)

According to the Press Release, “Today the University of East Anglia (UEA) announced that Sir Muir Russell KCB FRSE will head the Independent Review into allegations made against the Climatic Research Unit (CRU). The Independent Review will investigate the key allegations that arose from a series of hacked e-mails from CRU. The review will: 1. Examine [...]

Climategate – Data manipulated at the Climate Research Unit

Please go to here to view the emails @ wikileaks. The key to proving science is the quality of data.  Climategate is stirring since computer hackers have obtained over 160 MB of emails from the Climate Research Unit at the University of East Anglia in England.  The Climate Research Unit issued a press release, trying [...]

Vivienne Cox to chair Climate Change Capital

According to the Press Release, “Vivienne Cox, the former Executive Vice-President and CEO of BP Alternative Energy, is to become the chairman of Climate Change Capital, the investment manager and advisory group, it was announced today. Ms Cox, who became a non-executive director of Climate Change Capital in May last year, said: ”Climate Change Capital [...]

U.S.-China Alliance in Clean Energy

U.S. and Chinese Presidents, Barack Obama and Hu Jintao, more or less announced their partnership in clean energy technology last Tuesday. Specifically, the two signed official documents declaring their “cooperation on climate change, energy and environment.” Their first task will be constructing a U.S-China Clean Energy Research Center in a joint effort to promote clean [...]

Finance is key to Copenhagen talks: Norway PM

According to Reuters, “The key to successful climate talks in Copenhagen next month will be making sure rich countries fund greener technologies in the developing world, Norway’s prime minister said Friday. Politicians have talked down expectations for the talks which are supposed to find a successor to the Kyoto treaty that expires in 2012, and [...]

Maldives and Other Climate-Vulnerable Countries Call for Action Ahead of Copenhagen Summit

According to the Press Release, “Some of the most climate-vulnerable countries in the world called for help this week at a meeting organized by the Maldives, a member of the Climate Neutral Network. Bangladesh, Nepal, Vietnam, Kiribati, Barbados, Bhutan, Ghana, Rwanda, Kenya and Tanzania, popularly known as the V11, are the most vulnerable to the [...]

Ed Miliband statement to the House on the draft National Policy Statements

According to the Transcript, “With permission, I would like to make a statement about the energy National Policy Statements and our proposals on clean coal.  In the summer, we published the Low Carbon Transition Plan, which explained how we would meet our commitments to carbon reduction for 2020 and beyond. New infrastructure is being provided [...]

U.S. singled out for delay of climate pact

According to Reuters, ” The United States is likely to bear the brunt of the blame among recession-hit developed nations for an expected six- to 12-month delay to a new global climate deal hoped for December in Copenhagen. U.S. failure to match expectations with a carbon target by the December deadline may dent confidence in [...]

France proposes climate plan for poorest countries

According to Thomson Reuters, “France is proposing a plan to help the world’s poorest countries finance renewable energy projects that it hopes will form part of upcoming climate talks, Ecology Minister Jean-Louis Borloo said in an interview on Sunday. The “justice-climate” plan could be financed by revenue from financial transactions, he told the Journal du [...]

Japan may cut emissions by less than 25 percent

According to Reuters, “Japan cautioned on Friday that it could water down planned 2020 cuts in greenhouse gas emissions if other rich nations fail to make deep reductions as part of a U.N. deal due in Copenhagen in December. In Brussels, a draft report showed that European Union states were preparing to endorse an estimate [...]

Carbon capture coal tech must be ready by 2019: U.S.

According to Reuters, “A technology to bury underground the greenhouse gas emissions produced from burning coal must be ready for global deployment by 2017-2019, U.S. energy secretary Steven Chu said on Monday. Coal is the world’s single biggest source of carbon emissions, at 40 percent. Other sources included burning oil and natural gas, and deforestation [...]

Environmentalists Behind Resignations, Donohue Says

Bloomberg reports, “Environmental groups are trying to discredit the U.S. Chamber of Commerce by persuading companies to quit the business group over its stance on greenhouse-gas regulation, chamber President Tom Donohue said. “There is under way an orchestrated pressure campaign by a couple of environmental groups,” Donohue, 71, said at a Washington press conference today. [...]

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