Tag Archives: president
Brazil To Triple Funding For Renewable Energy
6/11/2013 3:22:10 PM | Joao Peixe, Oilprice.com As well as biofuel research Brazil has one of the largest, fastest growing economies in the world, and also some of the largest offshore oil reserves in the word. However, rather than relying on that oil to fuel its economic growth it has decided to focus on renewable energies and biofuel. The Brazilian government has announced that it will spend $2.85 billion on renewable energy and biofuel research and development, hoping that the new energy sources and technology will bring its energy industry into the modern age, and help it cut its carbon emissions. Alexandre Tanaka, from Financiadora de Estudos e Projetos (FINEP) a Brazilian research and finance agency, told Bloomberg that the President Dilma Rouseff wants to triple the funds available to innovative technology companies, as the country attempts to become a supplier of quality energy technology and processes, as opposed to purchasing from other countries. Under a new government program aimed at encouraging development in innovative technology, FINEP and the Brazilian Development Bank (BNDES) will provide loans to any companies working on renewable energy or biofuel research at rates as low as 3.5%. Mark Kenber, CEO of The Climate Group, said that the “government investment to support innovation in clean energy technology will drive job creation and offer green investors incentives and stability, which will help Brazil compete with in the fast expanding clean energy markets around the world. Brazil has huge potential to lead the global clean revolution, and with plans like these it looks like the nation is now ready to kick-start such efforts.” http://oilprice.com/…l-Research.html Read more at http://www.stockhous…QSCZO5VQWQzM.99 Continue reading
Unilever And Nestlé Join Aid Charities To Call For Biofuel Curbs
http://www.ft.com/cms/s/0/2023d3e6-ceae-11e2-ae25-00144feab7de.html#ixzz2W6Bin3bz By Andrew Bowman ©Eyevine Unilever and Nestlé have joined development non-governmental organisations in calling on David Cameron to use the Group of Eight presidency to press for an end to the use of biofuels made from food crops. In a letter to Downing Street, Peter Brabeck-Letmathe, the Nestlé chairman, and Paul Polman, the Unilever chief executive, say agri-biofuels are “exacerbating global hunger”, with many varieties “worse for climate change than the fossil fuels they were meant to replace”. The letter, co-signed by ActionAid, Oxfam, and WWF, urges the UK to back a European Commission proposal for a 5 per cent cap on the use of agri-biofuels in the EU’s overall consumption of transport fuel. International development charities have long criticised EU biofuel policy, with ActionAid researchers estimating that foodstuffs converted to fuel by G8 members each year would be sufficient to feed 441m people. Concerns about the impact on commodity prices are shared by the two food multinationals, who say that biofuel mandates in EU and G8 countries are affecting their ability to make affordable products. In a statement, Unilever said: “The development of a new generation of biofuels which do not compete with food crops is essential.” The companies have stepped up their lobbying efforts in advance of the mid-June G8 summit in Northern Ireland and a meeting of the EU’s energy council on Friday to discuss the European Commission’s proposals. On Saturday, Mr Cameron will host Nutrition for Growth, an international summit, and a meeting of the New Alliance on Food Security and Nutrition, an initiative launched by President Barack Obama at last year’s G8 summit to spur investment in African agribusiness. The EU renewable energy directive set a target of sourcing 10 per cent of all transport fuel from renewable sources by 2020, with much of this expected to come from biofuels. As well as the 5 per cent cap, the European Commission’s proposals released in October include environmental reporting obligations to account for carbon sinks destroyed by farmland expansion, and the promotion of “second generation” non-food biofuels. This week, the UK parliament’s international development committee said in a report that Britain should revise the country’s Renewable Transport Fuel Obligation to remove support for agri-biofuels, and push for similar reforms in the EU. The commission’s proposals have provoked angry responses from European biofuel producers, however, and on Tuesday the UK’s Renewable Energy Association said it “would mean the destruction of thousands of jobs, see millions of pounds of investment squandered and increase the cost of meeting renewable energy targets”. Continue reading
World Expo 2020 bid and new market status buoy UAE economy
UAE presentation in Paris wins appreciation; Nation is awarded emerging market status Paris and Dubai: Wednesday was a red letter day for the UAE, marking a milestone in the nation’s march to economic progress and prosperity on the international stage. In Paris, the UAE ramped up its bid for World Expo 2020 with an impressive presentation. Dubai is competing against Turkey’s Izmir, Brazil’s Sao Paulo and Russia’s Yekaterinburg following the disqualification of Thailand’s Ayutthaya. The UAE also announced a €150 million (Dh726 million) aid package to support the developing countries’ participation at the Expo 2020 on Wednesday, in addition to the €100 million Partnership Fund to support innovative ideas for creating opportunities, mobility and sustainability as part of Dubai’s bid. His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, was present at the presentation at the General Assembly of the Bureau of International Expositions (BIE). Shaikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai, Shaikh Abdullah Bin Zayed Al Nahyan, Minister for Foreign Affairs, Shaikh Ahmad Bin Saeed Al Maktoum, President of Dubai Civil Aviation Authority and Chairman of the UAE Higher Committee for Expo 2020, Reem Al Hashemi, UAE Minister of State and Managing Director of the Higher Committee for Expo 2020 bid, and senior officials were present. In the presentation by Princess Haya Bint Al Hussain, wife of Shaikh Mohammad Bin Rashid, the UAE announced a key initiative, Expo Live, which includes funds to ensure greater participation and aid innovation. BIE officials were full of praise for Dubai’s presentation. “It’s impressive and Dubai is a very strong contender,” Ferdinand Nagy, President of BIE, told Gulf News. Vicente Gonzalez Loscertales, Secretary General of the BIE, is keen to see that the Arab world gets its fair share of exposure in the international exposition. “The UAE’s bid is excellent,” he told Gulf News. The final decision will be made at the next general assembly in Paris in November. In New York, the UAE was awarded the coveted emerging market status and inclusion in the MSCI Emerging Market Index. Both the UAE and Qatar were upgraded in a move that could see in infusion of $800 million in local markets, according to estimates from HSBC in London. UAE shares rose on Wednesday as the Abu Dhabi Securities General Index advanced the most since 2009. Dubai also ended in positive territory and Qatar’s benchmark QE Index surged to its highest level in almost five years. Continue reading
