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US DFC approves $150M conditional loan commitment for Balama graphite mine in Mozambique

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The US Development Finance Corporation’s (DFC’s) Board of Directors approved the provision of up to $150 million in financing to Twigg Exploration and Mining—a wholly-owned subsidiary of Australia-based Syrah Resources Limited—to fund investments in the company’s graphite mining and processing operation in Balama, Mozambique.

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FCA US reaches settlements on diesel emissions at estimated cost of $800M

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Department of Justice (DOJ), the California Air Resources Board (CARB), the State of California, 49 other States and U.S. The settlements are now lodged with the San Francisco division of the United States District Court, North District of California, where they await judicial approval.

Cost Of 312
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SEC charges Volkswagen AG, former CEO Winterkorn with defrauding bond investors during emissions fraud

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The SEC’s investigation was conducted by Kevin Wisniewski, Jake Schmidt, Amy Flaherty Hartman, and Daniel Nigro of the Complex Financial Instruments Unit and the Chicago Regional Office, under the supervision of Jeffrey Shank and Daniel Michael, Chief of the Enforcement Division’s Complex Financial Instruments Unit.

Emissions 191
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Osum Oil Sands closes $500M private placement; new investors include government of Singapore

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The financing was led by a combination of new and existing shareholders. billion barrels (net) of Best Estimate Contingent Resources through both acquisitions and additional geological and reservoir work in 2011. The results are providing insights into how to best develop the Grosmont carbonate resource. Scotia Waterous Inc.

Oil-Sands 210
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Bank of America joins Stanford’s Global Climate & Energy Project

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The GCEP collaboration expects to benefit from the bank’s expertise in financing sustainable businesses dedicated to addressing climate change and advancing low-carbon solutions. —GCEP director Sally Benson, a professor of energy resources engineering at Stanford.

Climate 218
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Energy ministers agree to help speed up global deployment of carbon capture and storage

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The following governments agreed to continue or initiate action in support of one or more of these recommendations by the next Clean Energy Ministerial: Australia, Canada, France, Germany, Japan, Mexico, Norway, Republic of Korea, South Africa, the United Arab Emirates, the United States and the United Kingdom.

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PBL Study Finds Developed Countries Proposals for Copenhagen Fall Short for Reaching 2 °C Climate Objective

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Non-Annex I actions may be (partially) financed by Annex I2. Among the findings of the report: The current proposals by the EU, the United States and Japan are about 5 to 15% lower than required to meet the 2 °C objective, which was accepted by the G8 in July. The United States have not yet submitted a formal reduction proposal.

Climate 186