Silicon Valley-based investment management firm Firsthand Capital Management today announced the launch of the Firsthand Alternative Energy Fund (Nasdaq : ALTEX), a no-load fund investing in U.S. and international alternative energy and clean technology companies. In collaboration with Audubon, Defenders of Wildlife, National Wildlife Federation, the Sierra Club and World Resources Institute, Firsthand will contribute a portion of its management fees for the Fund each quarter to these organizations in a proportion determined by the Fund's shareholders.

"We're all aware of the challenges that face us as we witness dramatic increases in energy consumption around the world and continued dependence on fossil fuels to satisfy that demand," said Kevin Landis, chief investment officer of Firsthand Capital Management. "These challenges can only be met with significant private-sector investment in developing alternative energy sources and advocacy to bring about changes in our consumption patterns. We've designed Firsthand Alternative Energy Fund to take advantage of the opportunities available to investors while contributing to raising awareness of the benefits of sustainable energy technologies."

New Mexico Governor and Democratic presidential candidate Bill Richardson and Los Angeles Mayor Antonio Villaraigosa to Give Keynote Speeches

LOS ANGELES, CA — Monday, December 10 marks the U.N. Post-Kyoto Conference in Bali and the Nobel Peace Prize ceremony for former Vice President Al Gore in Oslo, Norway. It also is the date of the GreenXchange Global Marketplace Conference, which brings together, for the first time, hundreds of the top thought-leaders and innovators in the international green marketplace - senior executives from global corporations, entrepreneurs, financiers, manufacturers, regulators, environmental stewards and more - representing more than $110 billion in renewable energies investments.

Energy and Commerce Committee Vice Chair Diana DeGette (D-CO) today praised the passage of the Energy Independence and Security Act on a vote of 235 to 181. DeGette, who led efforts to pass a national Renewable Electricity Standard (RES) in the original House bill, said the energy bill is “forward-thinking addressing many of our nation’s energy challenges.”

‘The passage of this historic energy bill puts our country on a path toward energy independence and securing a stronger economy,” said DeGette. “With oil and gas prices skyrocketing and the effects of global warming mounting, this measure makes critical investments in reducing our dependence on foreign oil, saves consumers billions of dollars through new energy efficiency standards, and for the first time, makes a firm commitment to renewable fuels.

“This legislation also includes two crucial elements that will take the first step in addressing the concerns of the American people – getting raising fuel standards for the first time since 1985 and investing in renewable energy. Raising the Corporate Average Fuel Standard (CAFÉ) and developing a national Renewable Electricity Standard will not only save money for consumers, but begins to transform our economy from one that was environmentally-costly to one that is more environmentally-friendly.”

An MIT study concludes that increasing levels of ozone due to the growing use of fossil fuels will damage global vegetation, resulting in serious costs to the world's economy.

The analysis, reported in the November issue of Energy Policy, focused on how three environmental changes (increases in temperature, carbon dioxide and ozone) associated with human activity will affect crops, pastures, and forests.

The research shows that increases in temperature and in carbon dioxide may actually benefit vegetation, especially in northern temperate regions. However, those benefits may be more than offset by the detrimental effects of increases in ozone, notably on crops. Ozone is a form of oxygen that is an atmospheric pollutant at ground level.