New Zealand is to become the first country to introduce a carbon tax to tackle the issue of global warming. New Zealanders will pay an extra £1.11 a week for electricity, petrol and gas when the tax comes into effect in two years. It is expected to add 6% to household energy prices and 9% for most businesses.
US giant General Electric is to double its research budget to £800M a year on environmentally friendly technologies such as wind and solar power and water processing. The company also plans to invest in a hybrid diesel-electric locomotive; cleaner coalfi red power plants; lower emission aircraft engines and agricultural silicone, which cuts the amount of water and pesticides needed for spraying fields.