:00:00. > :00:16.Now for the latest financial news with World Business Report.
:00:17. > :00:18.Turning the tide of climate change with technology.
:00:19. > :00:21.With hundreds of billions of dollars now being invested in clean energy
:00:22. > :00:32.And European aviation looks to a new horizon with
:00:33. > :00:35.the EU set to unveil plans for the future of all things flying.
:00:36. > :00:38.We have the latest on what's expected to be
:00:39. > :00:49.Also in the programme, a fresh warning about emerging markets
:00:50. > :00:55.and how they'll cope with a rise in interest rates in the United States.
:00:56. > :00:57.From cars to computers and everything in between, technology
:00:58. > :00:59.and innovation has certainly played its part in polluting the planet.
:01:00. > :01:02.However with climate talks currently under way in Paris,
:01:03. > :01:05.many are asking if it's that same spirit of innovation that could be
:01:06. > :01:10.the answer to the pressing issue of climate change?
:01:11. > :01:12.Green energy investments worldwide surged by a massive
:01:13. > :01:16.Leading the charge is the technology kingpin and philanthropist
:01:17. > :01:19.Bill Gates; he's already pledge $2 billion of his own money towards
:01:20. > :01:22.A day before the start of the climate talks in Paris Gates
:01:23. > :01:25.also announced The Breakthrough Energy Coalition with the aim to
:01:26. > :01:32.A day before the start of the climate talks in Paris Gates
:01:33. > :01:35.also announced The Breakthrough Energy Coalition with the aim to
:01:36. > :01:44.The group comprises of 28 wealthy individuals worth
:01:45. > :01:47.a total of $350 billion - members including the likes of
:01:48. > :02:01.Companies are now looking at cutting edge technology such as compressed
:02:02. > :02:09.air energy storage, windows that double as solar panels and renewable
:02:10. > :02:14.With me now is Dr Peter Harrop, Chairman of IDTechEx and lead
:02:15. > :02:21.Thank you for getting up so early for us. We are hoping for some kind
:02:22. > :02:26.of conclusion, resolution, agreement on how to tackle this issue of
:02:27. > :02:29.climate change. But with the technology out there, there is quite
:02:30. > :02:37.a bit that could help solve the problem. Tremendous, yes. We have
:02:38. > :02:43.got solar roads turning to be good, solar wind barriers that can
:02:44. > :02:48.generate a lot of electricity. The dramatic one is having vehicles,
:02:49. > :02:56.planes, boats, cars, that energy independent. When parked, they can
:02:57. > :03:01.get wind power, they can get solar powered, with much better solar
:03:02. > :03:08.powers. Some vehicles are going to be literal electric vehicles. With a
:03:09. > :03:13.lot of them, you do not need anything other than daylight. They
:03:14. > :03:19.do not have a battery. There do not go very fast at the moment. But that
:03:20. > :03:26.is the beginning. There is quite a bit of investment going in. The
:03:27. > :03:33.question is implementing it. In terms of countries having the
:03:34. > :03:40.infrastructure and policies to encourage us to change, that type of
:03:41. > :03:55.thing. That is true. If granny goes into the shop, it has to be
:03:56. > :03:58.nonpolluting by law. This is UK law. In most countries, that is
:03:59. > :04:07.effectively the law. We need to go the extra stage. Give us an example.
:04:08. > :04:14.If they were to change the law, is the technology ready to enable back.
:04:15. > :04:22.Yes. In the West, we are in a slight Dreamworld. In China, they have a
:04:23. > :04:27.hideous problem with pollution, but they are much more direct about it.
:04:28. > :04:36.Placing orders for 2000 short electric buses. London should do
:04:37. > :04:41.that. 195, there are high hopes there will be some kind of
:04:42. > :04:44.agreement. What is your thoughts on that given the countries
:04:45. > :04:50.represented? The likes of India, for example, which has policies in place
:04:51. > :04:54.that are not helpful at all. India needs to have some sort of programme
:04:55. > :05:00.to stop building all of these power stations. The Chinese are trying to
:05:01. > :05:06.swing across to renewables faster. So is the rest of the world. More of
:05:07. > :05:13.the same. Everyone needs to get on board with this. We appreciate you
:05:14. > :05:18.coming in. Interesting to hear about some of that.
:05:19. > :05:21.And just to say, we are keeping across those topics in Paris. We
:05:22. > :05:22.will update you. A sweeping new strategy for European
:05:23. > :05:24.aviation. That's what the European Commission
:05:25. > :05:26.is expected to publish today. Air travel in the EU has grown
:05:27. > :05:30.massively over the past two decades, but there's concern that it needs
:05:31. > :05:32.much smarter regulation. The new strategy will set out
:05:33. > :05:34.a plan for the future of drones along with proposals to
:05:35. > :05:52.reduce delays and limit pollution. Aviation in Europe is big business.
:05:53. > :05:55.According to EU figures, it supports more than 5 million jobs and
:05:56. > :06:00.contribute 1 billion euros to the economy every day. But the European
:06:01. > :06:07.Commission thinks more could be done. The priority is an open skies
:06:08. > :06:11.agreement with foreign governments. It wants to liberalise air travel to
:06:12. > :06:15.regions such as South East Asia, China and parts of Latin America.
:06:16. > :06:21.Areas that are free to fly where they wish and when they wish and
:06:22. > :06:25.that the capacity they wish. Increasing the number of hours
:06:26. > :06:30.service is available on a competition results in service
:06:31. > :06:35.quality. The commission also thinks aviation laws need updating. A new
:06:36. > :06:37.legal framework for drones is in the pipeline to make sure they are
:06:38. > :06:43.operated safely without destroying privacy. It wants to protect
:06:44. > :06:47.European allies from unfair competition. That follows widespread
:06:48. > :06:52.claims that government owned airlines in the Gulf use
:06:53. > :07:01.artificially controlled tickets to keep prices low. -- government
:07:02. > :07:06.subsidised. The industry has changed over the past two decades. The new
:07:07. > :07:09.strategy for the is designed to make sure it is ready to tackle the
:07:10. > :07:13.challenges they will face over the next 12 years, economic, technical
:07:14. > :07:19.and theoretical. An expected rate rise in December
:07:20. > :07:22.by the US Federal Reserve could have a major impact
:07:23. > :07:25.on emerging markets according to the They're warning that too much
:07:26. > :07:28.foreign debt is held in dollars and once US rates go up, the value
:07:29. > :07:32.of that debt will also rise. Sharanjit Leyl is
:07:33. > :07:42.in Singapore with the details. Nice to see you. Tell us more about
:07:43. > :07:49.this warning and the impact on the emerging markets. That is right. It
:07:50. > :07:56.is from the bank of International settlements. They are experiencing
:07:57. > :08:00.an uneasy calm. It is the association of central banks and
:08:01. > :08:08.sometime referred to the central bank of central banks. It has made a
:08:09. > :08:13.quarterly report saying that a rate rise could mean a stronger US dollar
:08:14. > :08:21.and any rise in the value could lead to emerging countries becoming less
:08:22. > :08:26.affordable. We know that the loans which include the likes of Brazil,
:08:27. > :08:32.China, Russia, and India have doubled since 2009 to over $3
:08:33. > :08:36.trillion. All eyes on the Federal reserve when they meet again. Many
:08:37. > :08:44.analysts are expecting a rise in rates. You also recall that in
:08:45. > :08:48.August we saw markets shaken in many of these emerging economies,
:08:49. > :08:58.particularly China. That is when concerns came about about the health
:08:59. > :09:00.of the emerging economies. The markets were stabilised, but
:09:01. > :09:05.according to the head of the monetary and economic division,
:09:06. > :09:07.there is caution against falling into a false sense of security.
:09:08. > :09:10.Thank you very much. Bonuses for investment bankers
:09:11. > :09:13.in London could fall by as much Emolument, which benchmarks salaries
:09:14. > :09:17.across the industry, says a drop in revenues in the second half
:09:18. > :09:20.of the year combined with cost It's not all bad news though,
:09:21. > :09:24.the group still estimates that a managing director in equities will
:09:25. > :09:35.get a bonus of around $545,000. UK manufacturing is encountering a
:09:36. > :09:38.poor end to the year amid "gathering gloom" from the global economy,
:09:39. > :09:41.according to industry body the EEF. It has cut
:09:42. > :09:44.its manufacturing forecasts, expecting a 0.1% fall in 2015,
:09:45. > :09:46.with low growth of 0.8% next year. Its survey says weakening demand
:09:47. > :09:49.from developed and emerging markets have become more prominent,
:09:50. > :10:00.leading to falling exports. Venezuela's opposition has won
:10:01. > :10:03.a major of seats in congressional elections, giving them control
:10:04. > :10:06.National Assembly for the first time since the socialists came to power
:10:07. > :10:08.under the late Hugo Chavez. The current President's popularity
:10:09. > :10:10.has fallen dramatically over the past year due to the poor state
:10:11. > :10:13.of the nation's finances. Venezuela's economy is heavily
:10:14. > :10:15.reliant on oil and has been badly affected by its
:10:16. > :10:31.price falling below $50 a barrel. While we are talking about the
:10:32. > :10:35.falling oil price, that is what is grabbing the headlines, since the
:10:36. > :10:44.meeting that ended with agreement for no cuts in production. You can
:10:45. > :10:47.see the price of crude going down and US indicators falling. The
:10:48. > :10:53.markets in Asia are generally buoyed by the strong close on Wall Street
:10:54. > :10:56.at the end of the last week. See you soon.