Business

Fossil fuels are the next subprime danger

Here is further proof it’s high time to divest to avoid the carbon bubble. The Daily Telegraph published this week a most interesting article on how fossil fuels – oil, coal and natural gas – are the next subprime danger of this cycle as “ The cumulative blitz on energy exploration and production over the past …

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Cleantech investments need to soar

According to a report published in May by the International Energy Agency,  the clean energy investments needed to limit temperatures from warming to 2 degrees Celsius: an additional $44 trillion ( 32 trillion euros ) by 2050. This means spending an additional $1.2 trillion in cleantech ( like solar, wind, geothermal, bioenergy…. ) per year for the next 36 years …

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Footsie launches interesting tool for divestment

As the NRDC noted : ” The Natural Resources Defense Council, BlackRock and FTSE Group, the global index provider, partnered today in launching the first equity global index series that will exclude companies linked to carbon-based fossil fuel. “ ” The new investment tool will allow climate-conscious investors, including foundations, universities and certain pension groups, to match …

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Fossil fuel subsidies are as high as ever

To Desmogblog : ” The exact worth of massive global fossil fuel subsidies is incredibly hard to figure. There’s no real consistency in the definitions of subsidies, or how they should be calculated. “ ” As a result, estimates of global subsidy support for fossil fuels vary widely. According to a new analysis by the Worldwatch …

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Divestment reaches large investors

According to the New York Times and Reuters, more than a dozen large foundations representing more than $2 billion  (around 1.48 billion euros) in assets will stop investing in fossil fuels, just as the World Bank and the United Nations advise. To Reuters : ” The Divest-Invest Philanthropy coalition includes foundations, such as the Park …

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Google invests $3.2 billion in Nest Labs

This was the big news of the week in the cleantech sphere, Google has bought Nest Labs for a massive $3.2 billion (2.34 billion euros). Nest is famous for its smart thermostat, which I wrote about in November 2011. Google is thus investing massively in the smart connected home market. As Cleantechies remarks, the company …

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