European governments and businesses are discussing the next round of carbon emissions targets once existing greenhouse gas reduction goals expire in 2020. The Institutional Investors Group on Climate Change says binding targets are needed to make investors confident in putting money into upgrading power generation infrastructure. “Setting out an ambitious 2030 emissions reduction target of 40 percent will be critical to give investors confidence that the EU remains committed to the low-carbon road map it has established,” IIGCC Chairman Donald MacDonald said in the statement. “Delaying an agreement as some have advocated is misguided and self-defeating.” [Bloomberg]

The Arctic air that recently blew through much of the US spiked heating fuel consumption to the point where some regions could face shortages. Ohio declared a state-wide emergency to expedite re-stocking of propane and heating oil. [wkyc.com]

Michigan is holding a commercial building energy reduction contest to help advance energy efficiency initiatives. “On March 31, 2014 building registration will close and categories will be determined based on type and number of building entries. Throughout the year participants will measure, track, and report their monthly energy consumption using Portfolio Manager, the Environmental Protection Agency’s (EPA) online energy tracking tool.” [Grand Rapids Business Journal]