The drought-stricken Pacific island nation of Tuvalu is down to its last few days of water, prompting a mercy dash by New Zealand and Australia with water-making equipment. Tuvalu, the world’s fourth-smallest nation sitting just below the Equator, has declared a state of emergency and is rationing water. Tuvalu has a collective land mass of…

New Zealand is looking to exclude the use of U.N. offsets from industrial gas projects in its emissions trading scheme from as soon as 2012, as these offsets threaten to distort the market, the government said on Friday. Climate change minister Nick Smith said he wanted to maintain the integrity of the emissions trading scheme,…