A recent survey confirms that African nations are home to the world’s most vulnerable water supplies, and face substantial risks from climate change and population growth.

British consultancy group Maplecroft crafted a “water security risk index” of 165 nations around the world based on criteria such as access to drinking water, per capita demand and dependence on water from rivers which first travel through other neighboring nations.

The survey showed primarily African and Asian nations had the most vulnerable supplies, with Somalia, Mauritania, Sudan, Niger and Iraq leading the list of “riskiest nations.”

However, poor countries are not the only ones facing increased water risk, noted Anna Moss, an author of the study.  Regions of the United States and Australia are also at high risk levels., as are European countries like Bulgaria, Belgium and Spain.

On the other end of the spectrum, the most secure water supplies can be found in Iceland, Norway and New Zealand.

Read the full article here…

The Asian Development Bank (ADB) is providing $2.25 billion in financing to the Asia Solar Energy Initiative, in the hopes of attracting significant additional investment – on the scale of $6.75 billion over  the next three years.  The Asia Solar Energy Initiative (ASEI) will develop large-scale solar power projects in the Asia and Pacific region, aiming for 3,000MW in installed generating capacity by 2012.

“With energy demand projected to almost double in the Asia and Pacific region by 2030, there is an urgent need for innovative ways to generate power whole at the same time reducing greenhouse gas emissions,” said Rajat Nag, managing director at ADB.  Central Asia is a region of particular interest, thanks in part to the vast amounts of desert land available for massive solar construction.

In 2009, ADB supplied nearly $1.3 billion in funding for clean energy projects, exceeding its $1 billion target.  Beginning in 2013, the Bank is aiming to increase its investment to $2 billion/year.

Read more here…

By SETH SUTEL (AP) – 2 hours ago

NEW YORK — Commodities prices fell sharply Tuesday as new doubts about Europe’s ability to resolve the Greek debt crisis sparked a global flight from risky investments.
Crude oil and other energy contracts tumbled, a day after oil hit an 18-month high. Prices for copper and other industrial metals also fell sharply.
The declines in commodities were made worse by a spike in the dollar as investors sought safe places for their money. The rising dollar tends to sap demand from foreign investors for commodities, which are priced in dollars.
Oil fell 4 percent, as did heating oil.
Copper fell more than 3 percent, and silver prices were off nearly 5 percent.
The dollar rose sharply against other currencies, especially the euro, which has been battered by the Greek debt crisis.

The ICE Futures US dollar index, which measures the dollar against six other currencies, jumped 1.2 percent to 83.26.
The seemingly endless saga of finding a solution for Greece’s debt crunch has unnerved investors, sending stock prices down around the globe Tuesday. The Dow Jones industrial average was down as much as 283 points, its biggest drop since Feb. 4, before it closed down 225.

“There seems to be a wholesale run for the exit for risky assets,” said Evan Smith, co-manager of U.S. Global Investors’ $800 million Global Resources Fund. “It appears to be concerns about Greece and the impact on the euro zone. We thought that fire had been put out, but it keeps reigniting, it seems.”

European nations agreed to a bailout package for Greece over the weekend, but street protests broke out in Athens Tuesday as unionists opposed the sweeping budget cuts the country agreed to in order to qualify for the aid. Standard & Poor’s downgraded Greece’s debt to junk last week and also lowered its ratings on debt issued by Spain and Portugal, confirming fears that Europe’s sovereign debt woes were spreading.

Copper’s decline was made worse by another factor: China. Beijing imposed more restrictions on its banks, leading investors to worry that its hunger for copper, oil and other industrial commodities might wane as its economic growth moderates. July copper dropped 11.5 cents to $3.1785 a pound.

Other metals also tumbled.
Platinum fell $43.10 to settle at $1,685.80 an ounce, while palladium for June delivery fell $33 to $515.25 an ounce. Both are used in making catalytic converters for cars and therefore respond to shifts in sentiment about economic growth.
July silver fell 99.8 cents to $17.842 an ounce. Gold was the least hurt among metals in the selloff, falling $14.10 to settle at $1,169.20 an ounce.
In energy trading, crude oil prices dropped $3.45, or 4 percent, to settle at $82.74 on the New York Mercantile Exchange.
Crude had traded at its highest level in a year and a half on Monday. Oil prices are also taking a hit from growing crude inventories, which may have gained an additional 1.5 million barrels last week, according to a survey of analysts by Platts, the energy information arm of McGraw-Hill Cos.

In other Nymex trading in June contracts, heating oil fell 8.56 cents to settle at $2.2595 a gallon, and gasoline lost 11.29 cents to settle at $2.3222 a gallon. Natural gas added 1.3 cents at $4.013 per 1,000 cubic feet.
Agricultural commodities were mixed. Wheat for July delivery rose 9 cents to settle at $5.1075 a bushel. June soybeans rose half a cent to $9.87 a bushel, while corn fell 2.5 cents to $3.69 a bushel.

Copyright © 2010 The Associated Press. All rights reserved.

Nations around the world have been stepping up their investments in smart grid software and technology, most recently the United States and Japan.

Last year, the United States Department of Energy (DOE) allocated millions of dollars in stimulus funding for smart grid development projects to update the nation’s energy infrastructure.  Those grants are now being turned into actual projects on the ground.  Companies like mid-Atlantic energy provider Pepco Holdings and Pacific Northwest-based Netezza are utilizing this funding to conduct regional smart grid tests to help consumers streamline energy usage and reduce inefficiencies.

Japan has enlisted Toyota, Panasonic and Toshiba in its $1.1 billion smart grid trial.  According to Bloomberg, smart meters, electric charging stations and solar panels will be incorporated into homes across four cities including Yokohama and Kyoto starting at the end of the year.  This trial is part of Japan’s goal to meet 10% of its national energy demand with renewable energy by 2020.

Read more here…

What is the fastest and most immediate way to reduce the globe’s rapidly rising demand for energy?  According to a publication from leaders at the World Economic Forum, entitled Energy Vision Update 2010; Towards a More Energy Efficient World, energy efficiency is the answer.

By closing the “efficiency gap” between today’s wasteful production methods and other more streamlined options, we can reduce global resource strain, and potentially save billions of dollars.   For every dollar spent on efficiency methods, the report estimates savings of $2-$4 in what would have been wasted energy.

Important developments in this sector are occurring around the world, including massive smart grid investment in South Korea, construction of new high voltage transmission lines in China and development of smart grid software in high-tech hubs in the United States and India.

The following chart shows where we are now… and how far we still need to go.

China and India have formally agreed to ratify the Copenhagen Accord, the global climate agreement which stemmed from last year’s U.N. climate change convention in Copenhagen.

Over 100 countries have already approved the Accord, which aims to limit the increase in global temperatures to no more than 2 degrees Celsius, or 3.6 degrees Fahrenheit, above pre-industrial levels.  The Accord also calls for spending on the scale of $100 billion a year to assist emerging countries in making adaptations to climate change.

China and India are two of the world’s fastest growing economies, and in recent years their rates of energy consumption and carbon dioxide emissions have skyrocketed.  By joining the Accord, China and India have added legitimacy to the treaty and have demonstrated to the rest of the world that they are serious about addressing these important climate issues.

Read the full article…

The United States still leads in worldwide demand for oil, but at the rate China and the rest of Asia are growing, it may not hold that title for long.

The combination of economic stagnation and increased efficiency measures lead many analysts to believe any recovery in U.S. demand will happen slowly.  Since reaching peak levels in 2005, U.S. oil imports have fallen over the past two years by 9%.

China’s oil imports, on the other hand, rose by 14% last year.  This demand growth has impacted China’s relationship with Saudi Arabia, its main supplier.

Chinese purchases from the oil-rich Kingdom hit a record high of 1.2 million barrels per day (mbpd) in December of last year.  Saudi oil minister Ali Al-Naimi predicts “Asia will be a huge market,” and says the Kingdom is leasing new storage facilities in Japan for easier shipments to Asian customers.

Read the full article…

World oil demand may rise higher than previously expected, says the International Energy Agency (IEA), the Paris-based energy advisor to 28 OECD nations.  The IEA’s 2010 oil demand estimate is now 1.6 million barrels per day (bpd), 120,000 barrels higher than previously predicted.

The IEA attributes the majority of this growth to demand from developing nations.  ”The demand growth is all coming from countries east of Suez,” said David Fyfe, head of the IEA’s oil industry and market’s division.  ”The emerging economies of China, India and the rest of Asia and the Middle East is where all the action is.”

Oil demand in developed nations, on the other hand, has hit a wall as consumers have moved away from oil as a power and heating fuel.  There may be some increased demand for transportation fuels and petrochemicals in industrialized nations, but overall demand will not compare to the 6.1% market growth predicted in booming emerging nations.

Read the full article…

Affluent countries are making good on their Copenhagen promises to provide monetary aid to poor nations grappling with the effects of climate change. Thus far, funding pledges for 2010-2012 are nearly $30 billion, including $15 billion from Japan and €7 billion from the European Union.

However, the “Copenhagen Green Climate Fund” planned in last month’s conference has not yet been implemented, making it likely that the donor countries will each determine how their aid packages are distributed and to whom.  Delegates from China, India, Brazil and South Africa have welcomed the pledge, calling the $10 billion expected to be released in 2010 an important symbol of rich countries’ willingness to help.

The Copenhagen Accord set forth a January 31^st deadline for nations to submit quantitative details on their voluntary emissions reductions targets and achievement strategies.  The United States has formally submitted its approval, and informed the United Nations of its intent to reduce carbon dioxide and other greenhouse gas emissions 17% from 2005 levels by 2020.  Todd Stern, the chief U.S. climate change negotiator, said final emissions targets will be submitted following Congress’ passage of energy legislation requiring carbon cuts.

JAKARTA, Jan 26 (Reuters) – Indonesia plans a $1 billion green investment fund this year to drive infrastructure developments that aid growth and help cut greenhouse gas emissions, a finance ministry official said on Tuesday.

Indonesia has promised to slash its emissions by at least 26 percent from business as usual levels by 2020 but recently re-elected President Susilo Bambang Yudhoyono has also vowed to boost economic growth to 7 percent or more by 2014.

At global climate talks in Copenhagen last month, Yudhoyono announced a plan to develop the Indonesia Green Investment Fund, which will catalyse infrastructure development that could speed economic growth, boost food and clean water production and also help cut emissions blamed for global warming.

Indonesia’s sovereign wealth fund the Government Investment Unit will put $100 million into the fund and a further $900 million will come from foreign governments including Norway and Australia, plus institutional investors, said Edward Gustely

Read the full article