IASB unveils profit and loss proposals

IASB wants companies to present profit or loss and other comprehensive income in separate sections of a continuous statement

The International Accounting Standards Board has rolled out proposals to improve the consistency of how Other Comprehensive Income is presented.

The body is proposing that companies present profit or loss and other comprehensive income in separate sections of a continuous statement.

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FASB releases fair value proposal

FASB expands use of fair value, contrasting with international rules

The US accounting standard setter has released it’s fair value standard, which strives to simplify rules surrounding financial instruments, but jars with international accounting rules, used by it’s neighbouring economies.

The Financial Accounting Standards Board (FASB) waited until US markets closed to release its long awaited reforms to financial instrument accounting, which will expand the use of fair value in a bid to increase transparency.

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WHO | World No Tobacco Day 2010

OMS | Día Mundial Sin Tabaco 2010

AICPA Survey Shows U.S. CPAs Gaining in Awareness of International Financial Reporting Standards

U.S. Certified Public Accountants are gaining awareness about International Financial Reporting Standards and CPAs increasingly foresee a need to gain advanced, or expert knowledge as the U.S. moves toward global accounting standards over the next three to five years, according to a recent survey conducted by the American Institute of Certified Public Accountants.

"We see clear evidence in our tracking survey that CPAs in the U.S. are not only increasingly aware of International Financial Reporting Standards but also significant numbers are beginning to recognize a need to gain advanced and expert knowledge," said Arleen Thomas, AICPA senior vice president for member competency and development.

The latest AICPA tracking survey shows a sustained shift toward greater awareness of International Financial Reporting Standards (IFRS) among U.S. accountants.

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Engage CSR 2010: The Growth of Corporate Social Responsibility in a Socially Connected World

Wed, Jun 30, 10, 11:30 ET
Time: 11:30 AM - 4:30 PM
Where: Virtual Conference and Expo

About the Event
In today’s interconnected communications landscape where customers, consumers, investors and stakeholders can now interact directly with organizations, the underlying opportunities for engagement have never been greater. Simultaneously, the growth of corporate social responsibility has created a demand for timely information related to CSR initiatives.


Public and private companies, as well as nonprofit organizations, are increasingly leveraging social media to generate awareness for their social responsibility efforts. How are leading brands and organizations showcasing their CSR activities in the social landscape? What are the best practices for success?

See full Details.

Being a Good Steward of the Land Has its Rewards!

Agricultural producers and non-industrial forestland owners maintaining conservation practices may be eligible to receive up to $40,000 a year for the next 5 years through the USDA's Conservation Stewardship Program, announced Denise Coleman, Natural Resources Conservation Service (NRCS) State Conservationist. "But, time is running out to apply."

USDA recently announced June 11, 2010 as the national cutoff date, which will require potential applicants to submit applications quickly.

CSP is a voluntary program that encourages producers to maintain existing conservation activities and adopt new ones on their farm and non-industrial forestland operations. The program is popular for those who go the extra mile with conservation and sustainable practices, whether they've accomplished it on their own or through USDA and NRCS programs.

See full Press Release.

Why sound institutions and smart regulation matter

Remarks by Angel Gurría, OECD Secretary-General, delivered at the Berlin conference on “Financial Market Regulation after Pittsburgh – Achievements and Challenges”

Chancellor Merkel, Minister Schäuble, Commissioner, Excellencies, Ladies and Gentlemen:

The Swiss writer Max Frisch said:
“A crisis is a productive state; you simply have to get rid of its aftertaste of catastrophe.”

The strong and effective reactions of governments and central banks, the strengthened cooperation of advanced and emerging economies in the G20, the endorsement of Financial Market Reform at the G20 Leaders’ Summits and, more recently, the reaction of European Leaders in support of the Euro are all different and important pillars of this “productive state”.

See full Transcript.

Emerging Green Technology Poses Threat of Trade Wars

Global rules for developing alternative energy could prevent waste and abuse

At long last countries are waking up to the dangers of carbon-dioxide pollution and a finite supply of fossil fuel. The bad news is that emergent green technology risks spawning new trade wars. A firestorm of public criticism emerged in the United States last year, with reports of taxpayer stimulus funds being used to buy 240 Chinese-made turbines for a new wind farm in west Texas. The world’s pursuit of low-carbon sources of energy collided with the national need to create jobs.

China, Germany, Spain and the US vie with others to reap economic and environmental benefits of domestic green-energy sources while positioning themselves as market leaders in providing those technologies to the world.

See full Article.

En temas medio ambientales y RSE empresas deben escuchar a los clientes

Con todo lo que se habla de la importancia del medio ambiente y de su cuidado, no sorprende que los consumidores están cada vez más atentos a estos temas en el mundo empresarial. Para las empresas no es simple curiosidad ya que, además, muchos consumidores tienen estos temas en consideración cuando toman sus decisiones de compra o de patrocinio de empresas.

Por eso las empresas encontraron las letras R, S y E hace tiempo y muchas hablan mucho de su responsabilidad social empresarial resaltando lo que hacen bien. No lo critico, ya era hora que empresas tomen estos temas en serio y no me parece mal que los que hacen bien, lo proclamen y ganen presencia frente a los que no lo hacen tan bien.

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PR Newswire Offers Sustainable Brands '10 Conference Sponsor Profiles

As the official and exclusive breaking news service of the Sustainable Brands '10 Conference (SB'10), PR Newswire is featuring profiles of the sponsoring organizations. To read these profiles, please see below.

SB'10 will be held from June 7-10, 2010 in Monterey, CA, at the Monterey Conference Center. For more information regarding SB'10, visit http://www.sustainablelifemedia.com/events/sb10

Breaking SB'10 news from the event management, sponsors and other constituents can be found at the SB'10 Conference Online Press Room (http://www.sustainablelifemedia.com/events/sb10/media) and on PR Newswire's event news portal, Virtual Press Office (http://www.virtualpressoffice.com).

See full Press Release.

Child mortality: Saving the children

How child mortality has changed since 1990

SOME 7.7m children under the age of five will die in 2010, down from 11.9m in 1990, according to a new study published online by the Lancet from the Institute for Health Metrics and Evaluation at the University of Washington. This is 800,000 fewer deaths than was estimated by UNICEF in 2009, a difference the authors attribute to a larger data collection and better statistical analysis.

See full Article.

Annual board elections in new code for top companies

Plans for directors to submit to an annual shareholder vote form part of an overhaul of the code of conduct for the UK's top 350 listed companies.

It is a seen as a way to increase accountability, as directors are currently re-elected every three years.

The Financial Reporting Council's new code will also demand that gender and diversity is explicity considered when new board members are appointed.

See full Article.

CE cree que elevar recorte de CO2 del 20 al 30% tendrá un "impacto limitado"

La Comisión Europea (CE) aseguró hoy que elevar el objetivo de recorte de emisiones de dióxido de carbono (CO2) de la Unión Europea (UE) del 20 al 30% en 2020 con respecto a los niveles de 1990 tendrá un "impacto económico limitado" y menor al que se había calculado en un principio.

Esta estimación se opone de manera frontal a las de países como Francia y Alemania que aseguran que incrementar el objetivo europeo de reducción de emisiones supondría importantes pérdidas económicas y motivaría el traslado de industrias al exterior de la UE en busca de marcos legislativos menos exigentes.

No obstante, la CE aseguró que debido a la crisis económica, la caída de la demanda por los elevados precios de la energía y la bajada de los precios del carbono las estimaciones de hace dos años han cambiado.

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Mejores prácticas corporativas aumentan la competitividad

Las mejores prácticas corporativas ayudan a las empresas a transparentar sus operaciones, a revelar su información de manera adecuada, pero también a ser más competitivas a nivel global, afirmó el IMEF.

Por esa razón, el Instituto Mexicano de Ejecutivos de Finanzas (IMEF) se congratulo por la emisión de la Segunda Versión Revisada del Código de Mejores Prácticas Corporativas, por parte del Consejo Coordinador Empresarial (CCE).

"Esto hace que el Consejo de Administración y sus órganos intermedios deban salvaguardar el patrimonio de los accionistas y los beneficios de los terceros interesados", abundó en un estudio.

See full Article.

International Corporate Citizenship Conference 2011

When: April 10-12
Where: Minneapolis, Minnesota, USA

Each year the Center hosts an International Corporate Citizenship Conference that draws hundreds of professionals from around the world. Leading policy makers from the largest domestic and international corporations attend: managers of corporate citizenship and community involvement, public relations, public affairs, contributions, communications, work/life issues, and other professionals responsible for community and business strategies.

See full Details.

Hot, Flat and Crowded: Why We Need a Green Revolution and How It Can Renew America

Over the past decade, I have traveled with Glenn to some of the world's biodiversity hot spots and other endangered regions where CI is working - from the Pantanal wetlands in southwestern Brazil to the Atlantic rain forest on Brazil's coast, from the Guyana Shield forest wilderness in southern Venezuela to the Rio Tambopata macaw research station in the heart of the Peruvian jungle, from the exotic-sounding highland of Shangri-La in Chinese-controlled Tibet to the tropical forests of Sumatra and the coral-ringed islands off Bali, in Indonesia. For me, these trips have been master classes in biodiversity, as were my own travels to the Masai Mara in Kenya and the Ngorongoro Crater in Tanzania and the vast Empty Quarter of the Saudi Arabian Desert and - before I had kids - a rappelling trip inside die salt domes of the Dead Sea.

In many ways, though, the first trip Glenn and I ever took taught me everything I needed to know about the biodiversity challenge we are facing. In 1998 we went to Brazil, and the trip began with the most unusual interview - location wise - that I have ever conducted. It was with Nilson de Barros, then superintendent for the environment for the Brazilian state Mato Grosso do Sul, who insisted that we conduct our talk in the middle of the Rio Negro. Mato Grosso do Sul is at the heart of the Pantanal region, along the border between Brazil, Bolivia and Paraguay.

See full Article.

Australia's greenhouse gas emissions are rising

Australia's greenhouse gas emissions have started creeping up again after a dip caused by the global financial crisis, a trend that would see the nation overshoot its Copenhagen Accord commitment by a large margin.

Emissions fell last year by 2.4 per cent on 2008 levels as steel and aluminium production was hit by the financial crisis, but began rising again in the last few months of the year.

The country generated an estimated 537 tonnes of greenhouse gases in 2009, the largest amount per person of any developed country, three-quarters of which came from the energy sector.

See full Article.

Accountant scores top job at FA

Alex Horne to serve as FA general secretary

Chartered accountant Horne, who has been serving as acting chief executive, joined the FA in 2003 as finance director after serving with PwC.

"The board has been greatly impressed by the work that Alex Horne has done in his seven years at The FA," said acting chairman Roger Burden.

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Creatividad, cualidad más importante en un CEO

Me ha llamado mucho la atención que, según el informe “Cómo sacarle provecho a la complejidad” presentado por IBM, la cualidad más importante de un CEO a día de hoy sea la Creatividad”

El estudio, basado en entrevistas personales a 1.500 CEOs de más de 60 países y 33 sectores empresariales, expone: “La creatividad es la cualidad de liderazgo más importante de acuerdo con los CEOs.

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Clean Power

Cellulosic ethanol promises to be a better alternative to fossil fuels

Two weeks ago, Finnish company Chempolis opened a new facility in the town Oulu to produce ethanol. Chempolis is a 15-year-old process biotech company, and its new plant produces ethanol in one of the least destructive ways possible: using farm waste and plants cultivated in non-arable land. Theoretically at least, if we use this process, there is enough raw material in the world to meet all our oil needs.

Chempolis calls its process as the third generation of biofuels. Corn-based ethanol is the first generation and ethanol from wood waste and marginal land crops the second.

See full Article.

Gender Segregation by the Clock

Last week I wrote about how more women than men have been employed in payroll positions during the winter months of this recession, and how in April 2010 men regained their majority, with 50.04 percent of payroll positions. However, if you are reading this between 9 a.m. and 5 p.m., there are probably more women at work than men.

The chart below displays information about the work force by time of day, based on surveys conducted by the United States Census Bureau in 1997, 2001 and 2004 (when the 2010 Census is finished, an analysis like this will be possible for 2010). The calculations in the chart are based on work on gender segregation I have been doing with Christian Ferrada, a University of Chicago graduate student.

See full Article.

Companies failing to engage consumers on environmental and social issues

The 2010 Cone Shared Responsibility Study, released today, reveals companies are failing to make the grade when it comes to effectively engaging consumers in their cause-related and corporate responsibility efforts. Key findings include:

* Eighty-four percent of Americans believe their ideas can help companies create products and services that are a win for consumers, business and society; yet, only half (53%) feel companies are effectively encouraging them to speak up on corporate social and environmental practices and products.
* Three-quarters (75%) of Americans give companies a “C” or below on how they’re engaging consumers around key issues such as business practices and support of social/environmental issues.
* Sixty percent of consumers say they would be more likely to buy a company’s products and services if it incorporated their feedback and ideas.

See full Article.

The Five Essential Elements of Wellbeing

What differentiates a thriving life from one spent suffering?

Gallup scientists have been exploring the demands of a life well-lived since the mid-20th century. More recently, in partnership with leading economists, psychologists, and other acclaimed scientists, we began to explore the common elements of wellbeing that transcend countries and cultures.

As part of this research, Gallup conducted a comprehensive global study of more than 150 countries, giving us a lens into the wellbeing of more than 98% of the world's population. From Afghanistan to Zimbabwe, we asked hundreds of questions about health, wealth, relationships, jobs, and communities. We then compared these results to how people experience their days and evaluate their lives overall.

See full Article.

OFT targets web abuse of customer data

The Office of Fair Trading has called for a clampdown on online retailers who gather data on potential customers’ web activities and use it to target them with advertising and to determine the price charged for goods.

Online behavioural advertising typically uses information collected through “cookies”, files which are placed on a user’s computer after their first visit to the website.

Companies might use data collected on a person’s location, likely income, buying preferences or age to offer them prices that differ to those offered to other customers.

See full Article.

Obama defiende las energías alternativas ante el derrame en Golfo de México

El presidente de EEUU, Barack Obama, defendió hoy la investigación y la inversión en energías alternativas a raíz del vertido de petróleo en el golfo de México, que BP trata de detener mediante una inyección de lodo pesado.

Obama visitó hoy una fábrica de paneles solares en Fremont, en California, donde subrayó que el "descorazonador" derrame de crudo, que ha entrado ya en su día número 36, pone de relieve la necesidad de fuentes alternativas de energía.

En su discurso, Obama se refirió a los más recientes esfuerzos por solucionar el problema y admitió que "no hay garantías" de que la operación de sellado del pozo que ha comenzado la petrolera BP funcione.

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RSC, La colección "Sostenibilidad y Responsabilidad Social Corporativa"

La colección "Sostenibilidad y Responsabilidad Social Corporativa", coeditada por la editorial científico-técnica Netbiblo, la UNED y la Universidad Jaume I, se ha convertido en la primera diseñada en España para leer en el iPad, el nuevo lector de libros electrónicos de la empresa norteamericana Apple, según informaron sus promotores.

La nueva colección, en la que se desgranan las claves de la aplicación de la sostenibilidad y la responsabilidad social corporativa (RSC) en las empresas, también será accesible a través de plataformas de contenidos digitales y desde dispositivos móviles. Los dos primeros títulos de la colección, de los ocho previstos, son "Finanzas Sostenibles" y "Relaciones con la Sociedad".

La editorial Netbiblo -con la colaboración de Corunet, "partner" de la editorial para el desarrollo tecnológico de dispositivos móviles-, la UNED y la Universidad Jaume I explicarán mañana en Madrid la utilización del iPad para acceder a los dos primeros títulos de la colección, incluso antes de la comercialización de este dispositivo en territorio español, que se producirá el 28 de mayo.

Ver Nota de Prensa.

Deloitte gives us their seven leadership principles

1. Articulate a vision and secure enrollment.
2. Build trust with clear communications.
3. Cultivate authentic leadership and value creation.
4. Address the swampiness inherent in business issues.
5. Uncover and work with paradox and tension.
6. Tune into the shadow system.
7. Recognize, prioritize, and mobilize for potential crises.

See full Article, in pdf format.

Paths to power

Advancing women in government

Debates on the value of diversity and the empowerment and advancement of women have raged for centuries, but when it comes to gender equality, few achievements can compare with the rising role of women in government. The public sector's openness to women serves as a model for the private sector, and ultimately for women as a global workforce, but the path to achieving gender parity has been slow and uneven.

In the 21st century knowledge economy, the public and private sector continue to harness and mine the wealth of female talent to support continued growth and success. Institutional approaches to foster the advancement of women will help ensure economic competitiveness.

See full Details.

How to Bolster Employees' Confidence

Keeping people productive and hopeful in tough times isn't as complex -- or as costly -- as you might think

Keeping people productive and hopeful in tough times isn't as complex -- or as costly -- as you might think. A recent Gallup study offers insights into the aspects of employees' experiences at work that most strongly relate to their confidence in the future.

See full Article.

Business Simulation Game | Deloitte 20 20

Accelerate the implementation of Corporate Responsibility & Sustainability

marblesThe Deloitte Business Game Simulation enables companies to experiment with a realistic model of their company and its immediate external environment to evaluate the potential future scenarios for their sustainability efforts in a safe game setting.

During The Deloitte Business Simulation Game, the players go through several business cycles, experiencing critical moments and interdependencies. Most importantly, they are confronted with the consequences of their decisions.

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Cow manure powers computers down on the data farm

One of the world’s biggest technology companies is working on plans to power its data centres using energy generated from cow manure.

Researchers at Hewlett-Packard (HP) want to build computer warehouses on dairy farms where they would be hooked up to power plants fuelled by waste.

Just one cow produces enough waste every day to power the televisions in three typical households. A large dairy farm, with about 10,000 cows, produces enough to run one of the firm’s typical data centres and meet the energy needs of the farmer, the HP scientists believe.

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Making green choices that stick

Accept and work with long-term horizons

With high demands on businesses to green their act, many find it difficult to choose initiatives that have the most impact both on bottom line and carbon footprint. As a result, companies resort to tried-and-true, though often costly, marketing campaigns to influence customer perception about their sustainability efforts, but do not follow up with investments in substantive initiatives.

Whether or not you are interested in climate change theories, it is increasingly difficult to disagree that making smart green choices can have a net positive impact on the bottom line.

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Energías Renovables: el empleo pinta en verde

España cuenta con más de medio millón de trabajadores en los denominados ‘empleos verdes’, un tercio de los cuales en energías renovables, y los expertos auguran un futuro inmediato realmente esperanzador. La energía eólica, la fotovoltaica, la biomasa o la minihidráulica son algunas de nuestras fortalezas y grandes generadoras de empleo. De ahí que algunos títulos de FP, universidad y postgrado en renovables sean de lo más demandados.

El empleo pinta en verde y España tiene un papel fundamental en ese horizonte inmediato. A la espera de la Ley de Energías Renovables que regule este sector en alza, hay que tener en cuenta que, según los expertos, España podría posicionarse como líder mundial en energías renovables en los próximos años.

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Are you an optimist or a pessimist?

Are you more likely to succeed in business if you hope for the best, or prepare for the worst?

Is your glass half-full or half-empty? We're said to be a nation of Eeyores whose gloomy outlook on life is summed up by philosopher Thomas Hobbes, the cheery soul who called human life 'solitary, poor, nasty, brutish and short'. Pessimist Jon Moulton, chairman of Better Capital, agrees: 'He was a miserable devil, but in some ways it's true. If you're born in sub-Saharan Africa, that's rather accurate.'

But most of us are luckier than that. 'Think of the way our lives have improved beyond measure since Hobbes' time,' counters optimist Luke Johnson, chairman of Risk Capital Parters. 'That tells you we have grounds for optimism and we should not give way to feelings of gloom.'

See full Article.

Buying carbon offsets may ease eco-guilt but not global warming

Voluntary carbon offsets are a 'Wild West' market ripe for fraud, exaggeration, and poorly run projects that probably do little to ease global warming.

Eco-conscious travelers trying to reduce their carbon footprint to stop global warming can use Climate Passport kiosks at San Francisco International Airport to calculate the carbon emissions of their flight and buy certified carbon offsets.

See full Article.

Global Death Rates Drop for Children 5 or Younger

Death rates in children under 5 are dropping in many countries at a surprisingly fast pace, according to a new report based on data from 187 countries from 1970 to 2010.

Worldwide, 7.7 million children are expected to die this year — still an enormous number, but a vast improvement over the 1990 figure of 11.9 million.

See full Article.

Show me the green

Saving the environment always takes a back seat to saving money during economic downturns despite any lip service to the contrary. Indeed, 77% of Canadians who are willing to pay more for environmentally friendly homes say that energy cost savings is a main motivation, according to a TD Canada Trust poll in March, compared to 65% in 2008. Even the government has shut off the green money tap, cutting off new bookings for its EcoEnergy Retrofit – Homes program as of Mar. 31.

That doesn't mean, however, that homebuyers can't get some green if they want to upgrade their new or existing homes in an enviro-friendly way.

See full Article.

Carbon offsets: Australia leads the pursuit of 'greenwashing'

Consumer authorities say "greenwashing" scams in the carbon offset market – such as the Papua New Guinea tribe leader who says he was kidnapped over carbon rights to tribal lands – are proliferating.

The name was instantly appealing, and Australians handed over tens of thousands of dollars to offset their emissions with "green power" certificates from the company.
Skip to next paragraph

But GreenSwitch executives, says the Australian government, didn't bother to purchase all the renewable energy for the certificates they sold. When the government told them to stop, they kept at it for two more months.

See full Article.

Boardroom success: it ain't what you say

Being heard in a debate over strategy decisions comes down to style as much as substance...

At least that's according to research from Said Business School, which explores what executives do to ensure they have a say in the boardroom. Apparently, expertise can apparently only take you so far. Sounds obvious, but the report reveals some curious specifics about how successful managers prove their credibility - down even to whether you choose a whiteboard or a flip-chart.

The survey's author professor Richard Whittington watched videos of strategists in action, and found that those who succeeded in the formulation of strategy were going beyond analysis and debating techniques, and were ‘skilfully manipulating the props available to them to increase their influence upon the decisions that emerge'. We gather that means exerting the correct level of puppet-mastery over a whiteboard.

See full Article.

Ten Top Tips: Be more energy efficient

As UK plc moves gradually out of recession, it's time to tackle those rising energy costs...

In the past, many firms have simply ignored the energy efficiency ‘elephant in the room'. But by reducing their dependence on energy, businesses can cut costs, improve reputation, and stay one step ahead of environmental compliance.

MT asked Hugh Jones, director of solutions at the Carbon Trust, for his top ten tips:

See full Article.

Man-made climate change blamed for 'significant' rise in ocean temperature

The world's oceans are warming up and the rise is both significant and real, according to one of the most comprehensive studies into marine temperature data gathered over the past two decades.

Measuring the temperature of the oceans has not been easy, but the scientists behind the latest study believe there is now incontrovertible evidence to show that the top few hundred metres of the sea are warming – and that this temperature rise is consistent with man-made climate change.

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Women, Power and the Challenge of the Financial Crisis

In response to a journalist who asked me a few months ago about women’s strength in times of crisis, I smiled and said that if Lehman Brothers had been “Lehman Sisters,” today’s economic crisis clearly would look quite different. It was a quip, of course, but one that reveals a bit about how I view things.

When women are called to action in times of turbulence, it is often on account of their composure, sense of responsibility and great pragmatism in delicate situations.

Audur Capital, an Icelandic private equity fund wholly managed by women, is the only such fund to have made it through the crisis without a hitch. And in February 2009, Iceland’s citizens chose a woman, Johanna Sigurdardottir, as prime minister in the midst of the country’s financial crisis.

See full Article.

Cities and Green Growth : Mayors and Ministers Roundtable

When: 9:00am Tuesday 25 May, 2010
Where: OECD Headquarters, 2 rue André Pascal, Paris 16, France

Who: Mayors from many of the world’s most influential cities, with Ministers and senior business executives, will exchange ideas about how cities and regions can grow their economies and create jobs while reducing greenhouse gas emissions and providing high quality urban services for their citizens.

What: They will focus on ideas such as:
• Grow the economy and reduce pollution through ‘green jobs’ by promoting research and development in eco-innovative infrastructure, transport and energy conservation.
• Hard-hit by the financial crisis, governments are having difficulty meeting the increased demand for social welfare funding and a cleaner environment.

See Details.

Watchdog finds massive 'suckers list'

The Financial Services Authority is contacting more than 38,000 people across the UK to warn them they are being targeted by so-called ‘boiler room’ share fraudsters.

These criminals use high-pressure telephone sales tactics to con investors into buying shares that are worthless or even non-existent. The contact details of people on the list are bought and sold by teams of bogus dealers who try to sell worthless shares.

The FSA’s list of potential targets was obtained with the help of the US authorities and contains the names and addresses of 38,242 people.

See full Article.

A Bad Bet On Carbon Capture

ON Wednesday, John Kerry and Joseph Lieberman introduced their long-awaited Senate energy bill, which includes incentives of $2 billion per year for carbon capture and sequestration, the technology that removes carbon dioxide from the smokestack at power plants and forces it into underground storage. This significant allocation would come on top of the $2.4 billion for carbon capture projects that appeared in last year’s stimulus package.

That’s a lot of money for a technology whose adoption faces three potentially insurmountable hurdles: it greatly reduces the output of power plants; pipeline capacity to move the newly captured carbon dioxide is woefully insufficient; and the volume of waste material is staggering. Lawmakers should stop perpetuating the hope that the technology can help make huge cuts in the United States’ carbon dioxide emissions.

See full Article.

Do Carbon Offsets Do More Damage Than Good?

Summer holidays are on the way. You’ve booked a trip to Hawaii for all the family, but now your green conscience is kicking in. Flying a family of four from New York to Honolulu and back produces more carbon dioxide emissions than the average American family car does in one year.

Can carbon credits ease your pain? Opinion is divided, but many scientists now believe carbon credit schemes (where carbon dioxide emissions are offset using techniques such as planting trees) do more damage than good.

See full Article

U.S. Criticizes China's Procurement Rules

BEIJING—U.S. Commerce Secretary Gary Locke stepped up criticism of China's moves to limit access by foreign companies to its massive government-procurement market, even though it isn't clear whether the U.S. has any legal means to force China to back down.

Speaking on Friday ahead of a high-level U.S.-China dialogue in Beijing next week, Mr. Locke took broad aim at Chinese policies that he said discriminated against foreign investors, reflecting a growing sense of concern among U.S. companies that say they feel increasingly unwanted in the world's fastest-growing major market.

See full Article.

Directors will face election every year

DIRECTORS will be forced to put themselves up for re-election by shareholders every year under controversial measures to be introduced in a new boardroom code published this week.

The increased scrutiny, to be laid out by the Financial Reporting Council (FRC), is the most comprehensive overhaul of corporate governance since the banking collapse.

A number of blue-chip companies and veteran directors are likely to oppose the new, stiffer rules. They fear the move will undermine collective decision-making and leave firms leaderless if whole boards are ejected at once.

See full Article.

Rivers Can Heal--When Given a Chance

The Kennebec River, which drains about one-fifth of the state of Maine, once teemed with fish. Huge numbers of Atlantic salmon, striped bass, alewife, American shad, and five other fish species migrated from the Atlantic Ocean up the Kennebec to spawn (see Maine map). One fishing boat that headed out from Augusta in 1822 reportedly caught 700 shad in a single day. But by 1867 the local shad industry had collapsed. And by the late 20th century, the Kennebec's fish populations had dwindled to small remnants.

What happened? Pollution, for sure, played a role. But the biggest culprit was the Edwards Dam--a small stone-and-timber structure built in 1837 for hydropower generation that blocked the fish from reaching their spawning grounds. Later on fish ladders were installed to help the finned swimmers bypass the dam, but many of the fish couldn't or wouldn't use them.

See full Article.