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Archive for October 20th, 2010
Water Scarcity a Bond Risk, Study Warns
Posted by Washington Post: Juliet Eilperin on October 20th, 2010
New York Times: The municipal bonds that help finance a major portion of the nation's water supply may be riskier than investors realize because their credit ratings do not adequately reflect the growing risks of water shortages and legal battles over water supplies, according to a new study. As a result, investors may see their bonds drop in value when these risks become apparent, and water and electric utilities may find it more expensive to raise money to cope with supply problems, the study ...
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Peru: Neighbouring Regions Clash Over Water Diversion
Posted by Washington Post: Juliet Eilperin on October 20th, 2010
Inter Press Service: With one death and several injured to show for it, two regions in southern Peru remain tangled in conflict over water from one of the country's main rivers. A project would divert some of the river's flow from the Cuzco region to neighbouring Arequipa. ApurÃmac is a 700-kilometre river whose name in the Quechua language means "great speaker." This corner of the Amazon basin has pitted officials and residents from one region against their neighbours, while development proponents and ...
Putting a Value on Biodiversity
Posted by Washington Post: Juliet Eilperin on October 20th, 2010
NYT: Forests, fisheries, coral reefs, bee colonies and other natural assets carry large and unappreciated economic benefits as well as contributing to the diversity of the planet's plant and animal life, according to a new study from the United Nations Environment Program. The study, known as the Economics of Ecosystems and Biodiversity (TEEB), is the result of three years of work led by the United Nations Environment Program and an effort to get governments and private businesses around ...
Gulf Coast land loss could add up to $350 billion by 2030
Posted by Washington Post: Juliet Eilperin on October 20th, 2010
Times-Picayune: Economic losses along the coasts of Louisiana, Texas, Mississippi and Alabama caused by rising seas, subsidence and hurricane damage could total $350 billion by 2030, if no steps are taken to counteract the effects of subsidence and global warming, according to a new report commissioned by Entergy Corp. and the America's WETLAND Foundation. View full sizeJohn McCusker, The Times-Picayune The marshlands in Bay Jimmy were inundated with oil from the BP spill earlier this year. The grass ...
Canada: U.S. set to approve Keystone XL pipeline
Posted by Washington Post: Juliet Eilperin on October 20th, 2010
Globe and Mail: In remarks that went largely unnoticed until Wednesday, the U.S. secretary of state told the Commonwealth Club of San Francisco late last week that TransCanada Corp.'s TRP-T Keystone XL pipeline will likely be approved by the U.S. State Department. The proposal for the pipeline is currently being reviewed by the State Department following cajoling by Democratic legislators, environmentalists and the Environmental Protection Agency in the aftermath of the Gulf of Mexico oil disaster ...
UN: World’s natural assets vital to policymaking
Posted by Washington Post: Juliet Eilperin on October 20th, 2010
AP: Governments and businesses around the world need to recognize the immense economic value of preserving species and ecosystems and incorporate that into their decision-making, a U.N. report said Wednesday. The study released at a conference of the U.N. Convention on Biodiversity held in Nagoya, Japan, attempts to show the economic implications of failing to stop the alarming loss of species and ecosystems due to pollution, overexploitation or habitat destruction. The emphasis on ...
Jackpot: how international community could raise 141 billion for biodiversity
Posted by Washington Post: Juliet Eilperin on October 20th, 2010
Mongabay: Leaders from around the world meeting in Nagoya, Japan for the Convention on Biological Diversity (CBD) to discuss solutions to stem the current mass extinction crisis may be in need of a little book: The Little Biodiversity Finance Book. While a recent report by The Economics of Ecosystems and Biodiversity (TEEB) found that degradation of ecosystems--including biodiversity loss--was costing the global economy $2-5 trillion annually, one of the primary threats to wildlife around the world is ...
Groups sue BP for harm to endangered Gulf wildlife
Posted by Washington Post: Juliet Eilperin on October 20th, 2010
Reuters: U.S. environmental groups filed a suit on Wednesday against British-based oil giant BP Plc saying the world's worst offshore spill inflicted "ongoing unlawful" harm on endangered wildlife in the Gulf of Mexico. The suit is one of thousands of damages cases to stem from the spill from BP's blown-out undersea Macondo well, which between April and July dumped millions of gallons (liters) of oil into the sea, fouling coastlines in Louisiana, Mississippi, Alabama and Florida. The well was ...
Change global economic model to save biodiversity
Posted by Washington Post: Juliet Eilperin on October 20th, 2010
AFP: The global economy must be radically altered to put a value on forests, reefs and other elements of nature but the financial benefits of doing so will be enormous, a UN-backed report said Wednesday. The Economics of Ecosystems and Biodiversity (TEEB) report warned that allowing nature to remain unaccounted for within the economy would lead to the continuing rapid extinction of species, and ensuing massive financial costs. "TEEB's approach can reset the economic compass and ...
India set to be first country to publish ‘natural wealth’ accounts
Posted by Washington Post: Juliet Eilperin on October 20th, 2010
Guardian: India is today expected to become the first country in the world to commit to publishing a new set of accounts which track the nation's plants, animals, water and other "natural wealth" as well as financial measurements such as GDP. The announcement is due to be made at a meeting of world governments in Japan to try to halt global destruction of biodiversity, and it is hoped that such a move by a major developing economy will prompt other countries to join the initiative. Work ...