07/12/2015 World Business Report

Now for the latest financial news with World Business Report.

Turning the tide of climate change with technology.

With hundreds of billions of dollars now being invested in clean energy

And European aviation looks to a new horizon with

the EU set to unveil plans for the future of all things flying.

We have the latest on what's expected to be

Also in the programme, a fresh warning about emerging markets

and how they'll cope with a rise in interest rates in the United States.

From cars to computers and everything in between, technology

and innovation has certainly played its part in polluting the planet.

However with climate talks currently under way in Paris,

many are asking if it's that same spirit of innovation that could be

the answer to the pressing issue of climate change?

Green energy investments worldwide surged by a massive

Leading the charge is the technology kingpin and philanthropist

Bill Gates; he's already pledge $2 billion of his own money towards

A day before the start of the climate talks in Paris Gates

also announced The Breakthrough Energy Coalition with the aim to

A day before the start of the climate talks in Paris Gates

also announced The Breakthrough Energy Coalition with the aim to

The group comprises of 28 wealthy individuals worth

a total of $350 billion - members including the likes of

Companies are now looking at cutting edge technology such as compressed

air energy storage, windows that double as solar panels and renewable

With me now is Dr Peter Harrop, Chairman of IDTechEx and lead

Thank you for getting up so early for us. We are hoping for some kind

of conclusion, resolution, agreement on how to tackle this issue of

climate change. But with the technology out there, there is quite

a bit that could help solve the problem. Tremendous, yes. We have

got solar roads turning to be good, solar wind barriers that can

generate a lot of electricity. The dramatic one is having vehicles,

planes, boats, cars, that energy independent. When parked, they can

get wind power, they can get solar powered, with much better solar

powers. Some vehicles are going to be literal electric vehicles. With a

lot of them, you do not need anything other than daylight. They

do not have a battery. There do not go very fast at the moment. But that

is the beginning. There is quite a bit of investment going in. The

question is implementing it. In terms of countries having the

infrastructure and policies to encourage us to change, that type of

thing. That is true. If granny goes into the shop, it has to be

nonpolluting by law. This is UK law. In most countries, that is

effectively the law. We need to go the extra stage. Give us an example.

If they were to change the law, is the technology ready to enable back.

Yes. In the West, we are in a slight Dreamworld. In China, they have a

hideous problem with pollution, but they are much more direct about it.

Placing orders for 2000 short electric buses. London should do

that. 195, there are high hopes there will be some kind of

agreement. What is your thoughts on that given the countries

represented? The likes of India, for example, which has policies in place

that are not helpful at all. India needs to have some sort of programme

to stop building all of these power stations. The Chinese are trying to

swing across to renewables faster. So is the rest of the world. More of

the same. Everyone needs to get on board with this. We appreciate you

coming in. Interesting to hear about some of that.

And just to say, we are keeping across those topics in Paris. We

will update you. A sweeping new strategy for European

aviation. That's what the European Commission

is expected to publish today. Air travel in the EU has grown

massively over the past two decades, but there's concern that it needs

much smarter regulation. The new strategy will set out

a plan for the future of drones along with proposals to

reduce delays and limit pollution. Aviation in Europe is big business.

According to EU figures, it supports more than 5 million jobs and

contribute 1 billion euros to the economy every day. But the European

Commission thinks more could be done. The priority is an open skies

agreement with foreign governments. It wants to liberalise air travel to

regions such as South East Asia, China and parts of Latin America.

Areas that are free to fly where they wish and when they wish and

that the capacity they wish. Increasing the number of hours

service is available on a competition results in service

quality. The commission also thinks aviation laws need updating. A new

legal framework for drones is in the pipeline to make sure they are

operated safely without destroying privacy. It wants to protect

European allies from unfair competition. That follows widespread

claims that government owned airlines in the Gulf use

artificially controlled tickets to keep prices low. -- government

subsidised. The industry has changed over the past two decades. The new

strategy for the is designed to make sure it is ready to tackle the

challenges they will face over the next 12 years, economic, technical

and theoretical. An expected rate rise in December

by the US Federal Reserve could have a major impact

on emerging markets according to the They're warning that too much

foreign debt is held in dollars and once US rates go up, the value

of that debt will also rise. Sharanjit Leyl is

in Singapore with the details. Nice to see you. Tell us more about

this warning and the impact on the emerging markets. That is right. It

is from the bank of International settlements. They are experiencing

an uneasy calm. It is the association of central banks and

sometime referred to the central bank of central banks. It has made a

quarterly report saying that a rate rise could mean a stronger US dollar

and any rise in the value could lead to emerging countries becoming less

affordable. We know that the loans which include the likes of Brazil,

China, Russia, and India have doubled since 2009 to over $3

trillion. All eyes on the Federal reserve when they meet again. Many

analysts are expecting a rise in rates. You also recall that in

August we saw markets shaken in many of these emerging economies,

particularly China. That is when concerns came about about the health

of the emerging economies. The markets were stabilised, but

according to the head of the monetary and economic division,

there is caution against falling into a false sense of security.

Thank you very much. Bonuses for investment bankers

in London could fall by as much Emolument, which benchmarks salaries

across the industry, says a drop in revenues in the second half

of the year combined with cost It's not all bad news though,

the group still estimates that a managing director in equities will

get a bonus of around $545,000. UK manufacturing is encountering a

poor end to the year amid "gathering gloom" from the global economy,

according to industry body the EEF. It has cut

its manufacturing forecasts, expecting a 0.1% fall in 2015,

with low growth of 0.8% next year. Its survey says weakening demand

from developed and emerging markets have become more prominent,

leading to falling exports. Venezuela's opposition has won

a major of seats in congressional elections, giving them control

National Assembly for the first time since the socialists came to power

under the late Hugo Chavez. The current President's popularity

has fallen dramatically over the past year due to the poor state

of the nation's finances. Venezuela's economy is heavily

reliant on oil and has been badly affected by its

price falling below $50 a barrel. While we are talking about the

falling oil price, that is what is grabbing the headlines, since the

meeting that ended with agreement for no cuts in production. You can

see the price of crude going down and US indicators falling. The

markets in Asia are generally buoyed by the strong close on Wall Street

at the end of the last week. See you soon.