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Contents GreenPrices Weekly nr. 88,
21 February 2008

UNEP advocates feed-in laws

Worldwide wind capacity grows by 25.9% in 2007

Barrel of oil again touches 100 $ level

EU Commission calls for swift adoption of climate proposals

IEA to US: "Give CO2 a price"

Global carbon market set to explode in next decade

Editorial: Trillions

- Polish energy sector get higher CO2 cap

- UK sets CO2 offset code, excludes Voluntary Credits

- Solon invests in Italy

- Review of 2050 climate target to become obligatory in UK

- Institutional investors to put $10 billion in clean technology

- Hungary announces energy and climate strategy

- New international partnership on efficiency prepared

- Belgium must move faster towards sustainability

- Wave energy plans in US and South Africa

- RWE plans new wind farms off the Dutch coast

Agenda

Editorial: Trillions 
21 February 2008 - Yesterday, the UNEP published its 2008 yearbook. The annual overview of the changing environment has a very optimistic tone. Trillions of Euros are waiting to be invested in sustainable energy all over the world. Good signals, but beware of the pitfalls. 

The shortage of capital or venture capital to finance new sustainable energy projects does not seem to be the largest of problems anymore. The UNEP distils an 'emerging green economy' and a changing mind-set with companies from these signals on capital markets.

Indeed, a whole lot of companies claim they are paying attention to climate change, sustainable energy and green investments, and indeed, a lot of companies are putting the money where their mouth is. Mainstream companies and utilities that used to moan about the burden of sustainability, now suddenly recognise the opportunities. And that is a good thing, I say this without any scepticism.

However, let's also face the danger of being No1 on the finance hit list. A growing market attracts many people, with good and sustainable intentions, as well as cowboys who are just pursuing some fast money. It is important to have some control on the growth of the market, in order not to upset the delicate balance of financiers, projects and market.

Some are referring to the sustainable energy sector as a bubble that is about to burst, like the ICT sector once did. Most definitely, some companies will turn out to be operating beyond their means, and likewise, investors will be disappointed. It might even have devastating effects on the market, but I am convinced that this will be only temporary.

The differences between ICT and sustainable energy are larger than their similarities. Sustainable energy has still enormous possibilities to earn cheap money, for instance with energy saving. Again quoting the optimistic UNEP yearbook: combating climate change is 'a path to a new kind of prosperity. Invention, innovation and the imagination of engineers are driven on a scale perhaps not witnessed since the industrial revolution.' I am glad to agree with that statement.

Rolf de Vos
Editor in chief
GreenPrices
r.devos@greenprices.com



 

 

 

 
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