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| November 5, 2009 |
U.S. envoy calls for "strongest" agreement on climate change
World leaders participating in the Copenhagen climate meeting in December must strive to reach the "strongest possible agreement" on curbing carbon emissions, said U.S. envoy Todd Stern. Striking a full and detailed accord this year seems unlikely, Stern said, and he urged leaders to instead work on reaching a "political agreement" that addresses key issues, including reducing the impact of climate change and preserving forests. Bloomberg (11/4) Google/The Associated Press (11/5)
U.S. to rely on Brazilian ethanol imports to meet RFS
The U.S. would have to source vast amounts of ethanol from Brazil to meet the advanced-biofuel targets defined under the Renewable Fuel Standard, an analyst from a French trading firm said. The standard requires the U.S. to blend 600 million gallons of advanced biofuels, such as sugar cane ethanol, in 2009. With the targets increasing over the years, however, it is uncertain whether Brazil will be able to meet the demand, the analyst said. ICIS News (U.K.) (11/4)
Demand woes weigh on Arch Chemicals' Q3; more weakness ahead
Arch Chemicals' third-quarter profit dropped 39%, to $10.3 million, on a trade-related gain during the previous year as well as weak demand for its industrial biocides. The company beat earnings expectations but has lowered its full-year forecast in anticipation of a soft fourth quarter caused by North American weather and slow sales of its core products. The Wall Street Journal/Dow Jones Newswires (11/4) Reuters (11/4)
Weak sales cause Huntsman to fall short of Q3 expectations
Huntsman posted a third-quarter loss of $68 million, up from $20 million during the same period last year. The loss is more than what analysts expected amid a continued slowdown in demand. CEO Peter Huntsman said the company observed improving demand over the third quarter and expressed optimism that improvements in the economy will be sustained. The Wall Street Journal/Dow Jones Newswires (11/4)
Clariant beats Q3 expectations, posts close to $20 million profit
Clariant posted an unexpected profit for the third quarter as it undertook restructuring and cost-cutting programs. The specialty chemicals maker recorded $19.42 million in profit, contrary to industry expectations that the company might lose more than $25 million. The results "showed that the shares offer investors an attractive recovery story backed by the determination of the new management to turn around the company once and for all," an analyst said. The Wall Street Journal/Dow Jones Newswires (11/4)
New Jersey company gets VC funding to develop renewable substance
A group of venture capitalists have committed $12 million in Series A financing to DNP Green Technology to develop a nonpetroleum chemical, succinic acid, that can be used to make paint and plastics products. "We anticipate that the company will rapidly become the market leader," said Denis Lucquin, a partner at one of the venture firms. Reuters/Private Equity Week (11/4)
Analysis: Under Obama's watch, EPA becomes a more active regulator
The Environmental Protection Agency under President Barack Obama is moving regulations and initiatives at a markedly faster pace than it did under former President George W. Bush, writes Amanda DeBard in this column. The agency has proposed eight major air pollution rules, reviewed a number of coal-mining projects and conducted studies linking greenhouse emissions and public welfare. Business groups, however, are wary of the new regulations and are calling for wider examinations on how such regulations would affect firms. The Washington Times (11/4)
Washington D.C. councilwoman proposes chemical ban
Washington D.C. Councilwoman Mary Cheh has proposed a ban on more than a dozen chemicals, including bisphenol A, found in many consumer products. The American Chemistry Council maintains the position that BPA and other chemicals listed in the proposed ban are safe. The council said in a recent statement: "Eleven regulatory agencies from around the world have concluded that science supports the safety of BPA for people of all ages in its current uses." The Examiner/Washington, D.C. (11/5)
Businesses in Minnesota locality unveil plastic-bag recycling initiative
Retailers in Duluth, Minn., agreed to place recycling bins for plastic bags in front of their stores as part of their "It's in the Bag" program to reduce the amount of waste in the city. "This gives us not only a market [for recycled bags] but... a system to get them from the consumer to the market," said Karen Anderson, an official with one of the program's sponsors. Duluth News Tribune (Minn.) (11/4)
Bipartisan Senate trio to explore different track on climate bill
Sens. John Kerry, D-Mass., Lindsey Graham, R-S.C., and Joe Lieberman, I-Conn., are working to get the 60 votes needed for climate-change legislation to advance in the Senate. The senators are negotiating for some revisions to the legislation, including the addition of incentives for offshore drilling and nuclear power that would "broaden the base of support," Kerry said. The New York Times/The Associated Press (11/4)
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