Green News Round-up | Monday, June 9

The New York Times reports that the world’s foremost economies and oil consumers pledged Sunday to make a greater investment in energy efficiency and green technologies in an effort to reduce petroleum use. Energy ministers from the Group of 8 countries (the US, Japan, Russia, Germany, France, Britain, Italy and Canada) joined those of China, India and South Korea to issue a joint statement promising to set goals in line with International Energy Agency recommendations. While the group also called for an increase in oil output to mitigate historically high fuel prices, the focus of the G-8 meeting was the reduction of fuel consumption to vastly decrease carbon emissions and stave off global warming; similarly, the thrust of their joint statement was a call for massive expansion in renewable energies investment and vast improvements in energy efficiency. Though no monetary commitments were made, the group promised to initiate 20 demonstration projects by 2010.

Reuters reports that a new washing machine requiring as little as a single cup of water might hit British stores by next year. By using plastic ‘chips’ to remove dirt and stains, a process that leaves clothes dry (thereby making dryers unnecessary), the new machines would reduce water and energy consumption to less than 2 % of what conventional machines currently require. Since an average household (UK) uses almost 21 liters of water daily for clothes washing (accounting for 13 % of daily household water usage), the greatly improved efficiency of the new machines would mean a significant reduction in water consumption – not to mention a significant energy reduction that would come from no longer having to use a dryer.

The Guardian (UK) reports that drivers in the United Kingdom can now participate in the world's first real-time personal carbon trading program. Starting today, a trial of 1,000 volunteers can use existing loyalty cards at BP filling stations to determine the carbon dioxide they will emit as a result of the gas just purchased. The program gives each volunteer a monthly allowance of carbon credits which they will be able to trade with other volunteers through an online trading system (the so called CarbonDAQ). Moreover, if a volunteer manages to be especially thrifty with his or her credits and has credits to spare, they can use a virtual currency system to sell their leftover credits to drivers needing more than the normal stipend allows.

The Guardian also reports on the massive financial boom that the so-called ‘green’ tech industry is undergoing. Investors are pouring billions of speculative dollars into start-up firms in a way reminiscent of the Internet revolution. Firms are seeking to make huge profits while at the same solving the world's energy needs and fixing its environmental problems. A stunning mixture and range of green-tech companies saw more than $3.6 billion of investments in 2007, following on top of already staggering 2006 numbers, which nearly topped $3 billion. Moreover, the industry is becoming more innovative as it grows, showcasing initiatives like making synthetic gas substitutes using microscopic bugs, or providing sources for ethanol production in things like switchgrass or agricultural plant waste. Much like the early years of the internet, the exploding supply of money and creative ideas seems to be leading a revolution that will transform of the world economy while also changing people’s daily lives.

The Associated Press reports that Japan will cut its greenhouse gas emissions 60-80 percent by the year 2050. Prime Minister Yasuo Fukuda announced the reduction plan along with a promise that Japan can match or better European reduction efforts over the next 12 years. The announcement, along with promises of a promised $1.2 billion contribution to the international greenhouse gas fund, exemplifies Japan’s standing desire for a world leadership role on environmental issues. Also, Japan will also host a meeting next month to try to create a consensus regarding international measures to reduce greenhouse gas emissions and moreover hopes to play a significant and supportive role in the creation of rules and an ultimate framework for international carbon emissions trading.