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International Update Volume 42, Issue 14



The World Bank urged countries to place monetary value on natural ecosystems as part of their economic development in a report released last week. "At current rates, we are in danger of undermining the basis on which growth has been achieved in the last decades. We do not believe that current growth patterns are sustainable," said Rachel Kyte, vice president for sustainable development at the bank. Kyte gave the example of Thailand's pricing of mangrove swamps, which can be worth as much as $16,000 a hectare if their importance in providing a barrier against floods is taken into account.


United Kingdom

Prime Minister David Cameron's government announced plans to make nuclear more profitable in the United Kingdom, reviving the industry months after a German utility scrapped a project because it would take too long for the investment to pay off. The proposed measures include long-term contracts that give guarantees to producers to help attract as much as $97 billion in investment. Energy Secretary Ed Davey faces criticism that energy plans are driving up bills; U.K.


EU, Germany

European Union climate chief Connie Hedegaard said that plans to delay some carbon auctions are a short-term tool to tackle oversupply and will be followed by further talks. The measures are meant to boost emissions prices after they sank to a record low last month. Hedegaard called the market "over-flooded" and said that she would aim for a decision by member states on the proposal to review the auction rules by the end of the year. The slumping permit prices have allowed European countries to burn increasing amounts of coal and still meet legally binding targets for carbon emissions.