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INTERNATIONAL
Fund Managers Are Warming to Green Theme
It seems that there has never been a better time to be an investor in green technology. Recently, F&C introduced its Global Climate Opportunities fund and HSBC unveiled its Climate Change Fund. These and many other funds aim to benefit from growing concern over global warming and enthusiasm for products involved with wind power, solar energy and water. F&C will also dedicate money to companies involved in services designed to improve the delivery and quality of water. For example, it invests in Manila Water, in the Philippines.
– Read the Times Online article
Australia: Despite Critics, National Water Plan Advances
Despite political wrangling over control of Australia's strained river systems, development of a $417 million network for measuring and monitoring national water resources has been initiated. The move comes despite ongoing resistance from Victoria to a $10 billion federal water policy, which includes funding for the ambitious Australian Water Resources Information System (AWRIS). Scientists state that development of the measuring and monitoring system had started and would continue regardless of Victoria's position.
The Bureau of Meteorology has begun consulting with private sector systems integrators and data monitors, as well as government research and development organizations and water agencies, over plans for the massive system. Private sector entities interested in participating include agricultural information management firm Agrecon, and water sensor makers to help state water authorities beef up their measurement capabilities.
– Read the Australian IT article
Film Takes on Water Profiteers at Sundance Film Festival
Documentary film "Flow," premiering at the Sundance Film Festival this week, condemns water profiteering and calls for a UN resolution to make access to clean drinking water a human right. French-born director Irena Salina blasts Paris-based Suez and Vivendi Environment for commercializing water systems around the world, as well as Nestle, the world's largest bottled water seller, for draining watersheds. The World Bank also draws fire in the film for funding massive water diversion projects that have displaced 80 million people, instead of more eco-friendly community projects to bring fresh drinking water to the poor.
– Read the AFP article
BUSINESS
General Electric's Water Businesses Flowing Strong
Water treatment was among the leaders of the pack that helped General Electric Co. (GE) report record fourth quarter and full-year 2007 financial results, news organizations and the company reported over the weekend. In addition to its water treatment business, the company reported 20 percent or more profit growth during the just-completed fourth quarter from its energy, aviation, oil and gas, and transportation segments.
"Infrastructure [products and services] led the fourth quarter, delivering 26 percent profit growth from energy, aviation, oil and gas, transportation and water," CEO Jeff Immelt said in a company press release. The company's "Ecomagination" efforts, involving environmental technology initiatives, grew in revenues by 17 percent for the year, the company said.
– Read the WaterTech Online article
– Read the GE press release
– Read the Boston Herald article
Massey Energy settles EPA water-pollution lawsuit
Massey Energy Co. will pay $20 million to settle a government water-pollution lawsuit, resulting in a fourth-quarter charge of $15 million. The coal producer previously had estimated potential fines would range from $1.5 million to $7 million and set aside $5 million. As a result, its fourth-quarter earnings will reflect a non-tax-deductible $15 million charge. The Environmental Protection Agency initiated the lawsuit in May, alleging that Massey violated the Clean Water Act by illegally pouring pollutants into West Virginia and Kentucky waterways. The thousands of alleged violations over the course of six years could have carried an estimated $2.4 billion in fines if each were assessed individually.
– Read the MSNBC article
TTCM China Announces Strategic Acquisition of Water-Meter Business
TTCM China, Inc., a leading producer and supplier of glass-reinforced fiber plastic pipes, today announced the acquisition of ShiJiaZhuang HuaTeng Technology Company, a company engaged in the design and manufacturing of IC-based smart card water-meters, a strategic acquisition related to the water supply industry. The acquired company has the annual production capacity of 300,000 units of such high-technology water-meters. Mr. Jiqun Wang, Founder and Chairman of TTCM China, said, "We expect the growing demand for clean water delivery, flood control systems and water related business in China to continue to drive demand for our products in 2008 and beyond".
– Read the Business Wire article
NORTH AMERICA
USA: PA County Development Uses Nutrient Credit Trading
Under a permit issued recently by the Department of Environmental Protection (DEP), a planned resort community in Susquehanna County, Pennsylvania, will reduce pollution to the Chesapeake Bay by using the state's innovative nutrient credit trading program. The resort, Preserve at Dunn Lake, which will include 37 vacation home sites and a 30-room inn with a restaurant and banquet facilities, has become the first new development project in northeastern Pennsylvania to use the program. The DEP granted planning approval for the project in July 2006. The permit allows the resort community to discharge 19,000 gallons of treated sewage per day to the East Branch of the Lackawanna River. The credits that are traded in the program can be purchased by developers, which allows them to have a certain amount of nutrients in their discharge equivalent to what has been purchased and removed elsewhere in the watershed.
– Read the Earthtimes article
– Department of Environmental Protection website
EPA Launches Green Infrastructure Plan
On Jan. 17, the US EPA released a comprehensive plan to reduce runoff and increase environmental and economic benefits for communities by promoting green infrastructure approaches. The document, Managing Wet Weather with Green Infrastructure Action Strategy 2008, explains how states, municipalities, permitting authorities, and non-governmental organizations can bring these practices into mainstream use for runoff and sewer overflow management to meet water quality goals. EPA defines green infrastructure as an array of products, technologies, and practices that use natural systems – or engineered systems that mimic natural processes – to enhance overall environmental quality and provide utility services.
– View the Managing Wet Weather with Green Infrastructure Action Strategy 2008
US EPA Report Evaluates Low Impact Development Practices
On January 8, the US EPA released a new report that demonstrates the economic viability of low impact development (LID) practices. The report, Reducing Stormwater Costs through Low Impact Development (LID) Strategies and Practices, covers 17 case studies from across North America and highlights the cost savings that were realized as the result of using LID practices.
– Read the Water Environment Federation article
– Download the report
Water Organizations Urge EPA to Release Office of Water Climate Strategy
In a letter to EPA Assistant Administrator for Water, Benjamin Grumbles, water and wastewater organizations recently urged the agency to issue its national strategy on climate change. The strategy, under development since March 2007 when Grumbles established the National Water Program Climate Change Workgroup, is currently undergoing internal review. The letter was signed by Water Environment Federation, the National Association of Clean Water Agencies, the Association of Metropolitan Water Agencies, and the Western Coalition of Arid States.
– Read the Water Environment Federation article
– Read more about the National Water Program Climate Change Workgroup (pdf)
Maryland: Gov O'Malley Introduces New Funds and Mechanism to Help Protect the Chesapeake Bay
Maryland's FY 2009 budget provides $381 million to fund statewide programs that are directly related to the restoration of the Bay and its tributaries, and the O'Malley-Brown Administration has launched BayStat, which tracks efforts of many State agencies to improve the health of the Bay. The O'Malley-Brown Administration is introducing three initiatives to continue their commitment to protect and clean up the Chesapeake Bay and protect Maryland's environment, one of which is the Chesapeake Bay 2010 Trust Fund.
Last year the Governor and the General Assembly created an annual $50 million Chesapeake Bay 2010 Trust Fund, but did not also create a mechanism for spending it. Thus the O'Malley-Brown Administration will soon introduce legislation that provides a mechanism for spending these Bay cleanup dollars in the most effective scientifically-informed manner, with maximum accountability.
– Read the Governor's Press Release
– Read the WJZ 13 News article
AUDIO NEWS
NPR, Day to Day, KQED: Farmers Battle over Water for California
This January 22nd NPR story by Rob Schmitz focuses on how water rights and trading in Southern California's Imperial Valley are ruffling farmers' feathers.
– Listen to the story
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