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Newsflash

China to have world's 2nd largest carbon trading scheme by 2014

24th January, 2013

China will have the world's second largest carbon trading scheme by 2014, or twice as big as Australia's regime, a latest report showed Thursday.

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Carbon price of $29 'not implausible', says Blair Comley

20th January, 2013

THE head of the federal climate change department says it is "not implausible" the European carbon price could rise to $29 a tonne by mid-2015, when Australia's emissions trading scheme begins.

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Europe in the Green Investment Race

8th October, 2011

After a booming year for renewable energy worldwide Europe appears to be falling behind in the green investment race.

In 2010, investments in the renewable sector surged by one-third to a record US$221 billion, with a huge boost coming from China’s investments in wind farms. Strong growths were also evident in other parts of the developing world, such as India and Latin America.

The overall scene in Europe looks very different as investment from the financial sector dropped by one-fifth to $35 billion. Although when one looks into small-scale renewable sources, such as the solar power projects in Germany, then the figures appear more promising.

The Europe Commission’s Climate Chief Connie Hedegaard has called for at least a 20% increase on the proportion of the EU's budget to be devoted to climate related spending.
"This significant increase reflects that it is a key political priority for Europe to tackle climate change by transforming Europe into a clean, competitive low-carbon economy. But it also marks a paradigm shift."

The most predominant feature last year in terms of new financial investment was the fact that for the first time, developing countries ($72 billion) overtook the developed economies ($70 billion).

With Hedegaard’s proposal, this would help Europe retain some of its edge in the rapidly growing green economy and its fight against carbon emissions and climate change.