India has demanded that the United Nations must prevent any green protectionism by developed countries and include an explicit statement in the opening charter of any new deal to block carbon-based taxes being imposed on exports from developing countries such as India. The statement was made by the Indian delegation at the start of climate negotiations in Bonn. The UN talks on climate, in continuation of the last big meeting in Copenhagen, besides discussing the future of Kyoto Protocol will also look to hammer out a new long-term deal.
In a run-up to the next United Nations climate change talks in Bonn in June, the European Union (EU) has come forward with proposals on fast track financing and pledging 2.4 billion euro per year over two years. Finance is one of the key issues for an agreed outcome from the meeting in Mexico. At the Copenhagen meeting, rich countries sought to overcome this issue by pledging “fast-start funding”. They agreed on providing $30 billion by 2012 to help developing countries reduce carbon emissions and adapt to climate change impacts, with a commitment to increase it to $100 billion per year by 2020.
According to a recent Global Wind Energy Council (GWEC) report, the renewable energy sector has been able to weather the financial crisis well and is now attracting new lenders and capital. Through most of 2009, it seemed that investment in renewable energy was going to be lower than the previous five years. By the end of the year, however, the sector made a comeback, the GWEC report said.
The report pointed out that long-term prospect for renewables was good, and that the drivers that propelled the sector for the past five years were still at work: Climate change, long-term carbon price exposure, fuel price risk, energy security, fossil fuel depletion and energy access. According to the GWEC report, small, distributed wind projects looked more attractive to developers having to cope with siting, permitting and transmission challenges. However, the report underlined the need for measures to push the renewable energy industry to new levels of raising capital.
Picture from www.gwec.net