Kazakhstan signs deal for nuclear fuel bank

Kazakhstan has signed an agreement to set up a nuclear fuel bank in Oskemen. The country will operate the bank which will be a physical reserve of Low Enriched Uranium (LEU) for International Atomic Energy Agency (IAEA) Member States. It follows the project announcement made last month. LEU is the basic ingredient of nuclear fuel. The bank […]

Barclays to invest £1bn in green bonds

Barclays has pledged to invest at least £1 billion in green bonds by November next year. Green bonds are fixed income securities designed to raise capital to finance low carbon investments such as projects that reduce greenhouse gas emissions. Issuers are mainly governments or development banks such as the European Investment Bank, World Bank, International […]

UK carbon tax could add 10% to bills finds bank

The UK’s tax on carbon could add 10% to energy bills, analysts at investment bank Macquarie believe. In an equities research report, they suggest that from an “environmental, economic and taxation point of view” it is “counterproductive” and “therefore unsustainable”. The carbon price support is effectively a tax levied by the Treasury on fossil fuels. […]

JP Morgan fined $920m for “unsafe” energy market trading

American and UK regulators today slapped the United States’ largest bank JP Morgan with fines totalling $920m (£574m) for “unsafe” trading practices. This includes allegations some of the bank’s traders manipulated domestic energy markets in California and the Mid-West. Known as the ‘London Whale’ trades, they led to $6.2billion worth of losses for the bank. […]

US bank to pay $410m to settle power rigging probe

A US bank is to pay $410 million (£270.8m) to settle allegations it manipulated energy markets in California and the Midwest from September 2010 to November 2012. The US Federal Energy Regulatory Commission (FERC) said JPMorgan Ventures Energy Chase Corporation (JPMVEC) would pay the amount in “penalties and disgorgement” to taxpayers for allegations of market […]

JPMorgan faces questions from US energy regulators

JPMorgan Chase & Co is being investigated by the US energy watchdog about whether it manipulated power markets in some parts of the USA in 2011. The US bank is said to have received two subpoenas from the Federal Energy Regulatory Commission (FERC) asking for several emails as part of the investigation. The FERC is […]

East European countries get multi billion-euro efficiency boost

The European Bank for Regional Development (EBRD) is making up to €25 billion (£20bn) available into financing energy efficiency and climate change projects over the next three years. The international financial body gives money to banks, industries and businesses in 29 mainly East European countries, including Poland, Ukraine, Russia and Bulgaria. The multi billion-euro package […]

RBS biggest lender to UK renewables

RBS was the biggest lender to renewables projects in the UK last year, lending more than double any other bank, according to the bank’s latest Sustainability report out yesterday. RBS loaned more than £228m  to UK renewable projects last year, according to figures from Infrastructure Journal. Across the sector, lending increased by nearly 200% on […]