Airlines agree to curb their greenhouse gas emissions by 2020
International airlines have agreed for the first time to global curbs on their greenhouse gas emissions. The International Air Transport Association (IATA) has passed a resolution calling on world governments to agree measures to manage carbon dioxide from air travel, which would come into force from 2020. IATA said there should be a single global "market-based mechanism", such as emissions trading that would enable airlines to account for and offset their emissions. This move may help to ease an on-going row over whether airlines from outside the EU should be bound by Europe's emissions trading rules. The European Commission insisted that airlines would have to pay for carbon permits covering flights taking off and landing within the EU's borders. (Guardian)
Policy & Research
Climate bonds becoming major force in green finance
“Green” or “climate” bonds, being issued by a number of financial institutions and state governments as a means of generating funding for sustainable development and clean energy technology, are becoming increasingly popular and could become a major new force in the green investment world, according to environmental news-site Globe-Net. More than $3.3bn worth of the bonds have been issued by the Word Bank since their creation in 2007. Over the past 18 months the market for these types of investments has doubled, from $5bn to $9.5bn. Globe-Net argues that socially responsible investing is growing from a niche investment technique into a complex array of investments with different risk and reward profiles suited to a much broader set of investors. (Environmental Leader)
Dominican Republic rejects mining project
The Dominican Republic Government has rejected a request by Glencore Xstrata to explore nickel in a mountainous area of the country. Authorities said that the Loma Miranda project would have a negative impact on communities living there. The area, in central Vega province, is mostly covered by tropical forest. Environmental Minister Bautista Rojas Gomez said he had accepted advice from United Nations Development Programme (UNDP), which opposed the project and published a critical report. The project "does not attend the country's social and environmental demands," said the UNDP in the report, which was presented to the Dominican authorities. (BBC)
Diversity
UK urged to embrace flexible working to create jobs for women
Britain can create employment over the next five years for many of the 2.4m non-working women if flexible working is embraced, the chair of the government-appointed Women’s Business Council (WBC) has said. Ruby McGregor-Smith, chief executive of outsourcing company Mitie, said business had further to go in providing flexible work for mothers and carers, as well as eliminating gender bias. She also called for more generous tax breaks for childcare. A report published by WBC, released today, says that if the female labour force participation rate could be raised to the male rate, it would add 10 percent to UK gross domestic product by 2030. (Financial Times*)
Responsible Investment
Singapore's water companies aim to quench China's $850bn thirst
Water companies in Singapore are attracting big-name investors as they profit from exporting their expertise to China, which plans to spend $850bn over the next decade to improve its scarce and polluted water supplies. United Envirotech, an environmental solutions provider, said stricter discharge limits imposed by the Chinese government and water shortages in various parts of the country are pushing up demand for water treatment services. Singapore is a hub for water technology because of its own concerns about water security. Since 2006, the number of companies in Singapore's water sector has doubled to about 100 and S$470m has been committed to fund water research, government data shows. (Reuters)
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