Record growth over the last year pushed the UK green goods and services market past the £122bn mark, according to new government figures that reveal the low carbon economy now employs almost one million people.

The sector grew 4.7 per cent against the 2009/10 figure of £116.8bn, providing an additional £5.4bn of economic activity as green industries continued to defy the sluggish progress made by the rest of the economy.

The Ministry of Finance (MOF) announced Thursday that central government-funded expenditures on energy savings and emission reductions as well as on renewable energies development will total 97.9 billion yuan ($15.5 billion) this year, up 25.1 billion yuan from 2011.

The government's accumulative "green" investment will hit 170 billion yuan in 2012, the MOF said.

Meanwhile, the central government has budgeted 25.5 billion yuan in subsidies for expanding the consumption of energy-saving household electrical appliances this year, according to the MOF.

The majority of Americans (58 percent) think that protecting the environment improves economic growth and creates new jobs. The results are from a recently released poll by Yale University and George Mason University's climate change communication program. Only 17 percent of the poll's respondents think that environmental protection hurts the economy and job growth, and 25 percent think there is no effect.

Germany has asked for discussion on deeper EU carbon emissions cuts to be put on the agenda at a meeting of environment ministers in June, EU sources said.

If agreed, a more ambitious target could help to spur the European Union's carbon market, which has sunk to record lows.

Previous debate of bigger carbon cuts, however, has been difficult, with coal-reliant Poland objecting that they could damage its economy.

Says continent has to do business with China, Russia, India, and Latin America, all of whom are opposed to the levy

Rising tensions with India and China over the European Union's "arrogant" law on carbon emissions could rob the region of the markets that can rescue it from economic malaise, airline leaders said on Thursday. They also said they had prepared contingency plans for a possible exit of Greece from the euro, as part of the industry's extensive crisis management, and they were worried about a domino effect of more countries' being forced out of the currency bloc, with implications for all businesses.

Move A Rejection Of 28/Day Poverty Line Formula
New Delhi: After the public outcry over the controversial Rs 28 a day poverty formulation, the Planning Commission has put the poverty debate in a deep freeze with the government setting up yet another expert group to take a relook at the existing methodology to determine the number of poor in the country.

The Planning Commission today announced the constitution of a new expert panel to be headed by the Prime Minister’s Economic Advisory Council chief C Rangarajan to revisit the methodology for estimation poverty levels. The move comes in the wake of the Plan panel facing strident criticism for having fixed the poverty line at just Rs 28.65 per capita daily consumption in cities and Rs 22.42 in rural areas based on Tendulkar Committee recommendations. The group is expected to submit its report in 9 months.

The government on Thursday set up an expert technical group headed by Prime Minister's Economic Advisory Council (PMEAC) Chairman C. Rangarajan to review the Tendulkar Committee methodology for estimating poverty and overhaul the norms in keeping with the present-day prices.

The move follows all-round criticism of the Planning Commission's estimates on poverty released in this March and the controversy it generated in and outside Parliament on capping the poverty line at a daily consumption of Rs 28.65 per capita in cities and at Rs 22.42 in rural areas.

The World Bank has agreed to provide US$ 314 million (approximately 37 billion rupees) for Sri Lanka to develop education and urban development sectors in order to meet new challenges of the 21st century, the Ministry of Financial and Planning said.

The government has requested the World Bank for funds to expedite development programs which have already been formulated in the education and urban development sectors with foreign assistance.

NTPC Ltd, India’s biggest power producer, said it plans to spend as much as $15 billion (Rs 82, 521 crore) over a decade to secure overseas coal supplies as prices of the fuel tumble to a 19-month-low.

The utility may sign five- or 10-year contracts for the first time to import as much as 150 million metric tonnes of coal, Chairman Arup Roy Choudhury said by telephone from New Delhi on Tuesday.