Category: Climate

Key Impact Points: Global Decarbonisation Slows Fitch Ratings’ latest report reveals that despite progress in advanced economies, the overall pace of global decarbonisation remains alarmingly slow. World CO2 emissions rose...

Pioneering Global Decarbonization Efforts During the Ministerial day of the 15th Clean Energy Ministerial (CEM15), the Climate Investment Funds, one of the world’s largest multilateral climate funds, announced a significant...

Key Impact Points: Uber Technologies Inc. has taken a significant step forward in its sustainability efforts by preparing to launch an AI assistant, developed in collaboration with OpenAI’s GPT-4o technology,...

Key Impact Points: BP, the UK-based oil giant, has announced a significant shift in its strategy, moving away from earlier plans to cut oil and gas production by 2030 and...

Expanding Climate Tech Support HSBC has deepened its collaboration with Google Cloud, launching new initiatives to support the burgeoning climate tech sector. This partnership, particularly through the Google Cloud Ready...

Key Impact Points: Pioneering Energy Storage Solutions Sweco, a leader in civil and electrical engineering, is set to design Green Turtle—one of continental Europe’s largest battery storage facilities—for GIGA Storage...

Follow ESG News on LinkedIn This week, the EU and the US seemed to swap roles as California advanced its climate disclosure law, maintaining the 2026 reporting deadline for large...

Key Impact Points: The Asian Infrastructure Investment Bank (AIIB) has announced a significant commitment of $100 million toward climate transition investments in emerging Asia. This includes $75 million allocated to...

Real estate is crucial in the global emissions landscape, contributing approximately 40% to the total. As efforts to reach net zero intensify, it becomes imperative to accurately assess and mitigate...

As China stands as the world’s largest greenhouse gas emitter, its commitment to reducing emissions by 30% by 2035 is a pivotal element in the global effort to meet the...

Chinese companies have poured over $100 billion into overseas clean energy technology projects since the start of 2023, according to research by Australian group Climate Energy Finance (CEF). The investments...

The world’s energy landscape is shifting rapidly, making it crucial for banks to rethink their strategies. While fossil fuels still dominate, the global momentum towards clean energy is undeniable. This...

Rockefeller Foundation Hosts AsiaXchange 2024: A Blueprint for Asia’s Green & Resilient Future The Rockefeller Foundation will host AsiaXchange 2024, focusing on “Accelerating Asia’s Equitable Green Transformation: Taking a Systems...

Unilever is catalyzing climate action across its supply chain through the Supplier Climate Programme, aimed at significantly reducing greenhouse gas (GHG) emissions by focusing on suppliers of raw materials and...

Key Impact Points: Colombia has launched a $40 billion investment portfolio aimed at catalyzing its transition from fossil fuels and adapting to climate change impacts, confirmed by an environment ministry...

Britain’s Final Chapter on Coal The UK’s last coal-fired power station, Ratcliffe-on-Soar, closed its doors on Monday, making Britain the first G7 nation to end its reliance on coal for...

FTSE Russell has introduced two innovative indices—the FTSE Fixed Income TPI Climate Transition Index Series and the FTSE Fixed Income TPI Focused Glidepath Index Series—aimed at supporting investors’ climate commitments...

BBVA and global investment firm KKR have announced a $200 million (€187 million) strategic partnership to support the decarbonization of the economy. This commitment, made during Climate Week in New...

Siemens Financial Services has launched the Decarbonization Business Optimizer (DBO™), a cloud-based solution aimed at simplifying the complex journey toward net-zero emissions. The free tool helps companies break through the...

UAE’s Climate Ambition The United Arab Emirates plans to release its new national climate plan under the Paris Agreement ahead of the COP29 climate summit in November, setting a precedent...

The European Commission has initiated a public consultation on its draft proposal to introduce the EU Flight Emissions Label (FEL). This voluntary initiative is designed to provide passengers with standardized...

Masdar, Abu Dhabi’s clean energy leader, announced plans to acquire Saeta Yield from Brookfield Renewable for an enterprise value of $1.4 billion. The deal strengthens Masdar’s position in Spain and...

Platform to Boost Climate Finance Capacity Building Michael R. Bloomberg and Mary Schapiro introduced the beta version of the Global Capacity Building Coalition’s (GCBC) Digital Platform at the Bloomberg Global...

Climate Takes Priority A growing number of asset owners, including pension funds, insurance accounts, and endowments, are prioritizing climate over social and governance issues in their investment decisions. According to...

Fortescue and Liebherr’s Ambitious Partnership Fortescue has signed a $2.8 billion deal with Liebherr to jointly develop 475 zero-emission machines, marking a major leap towards carbon-free mining. The partnership includes...

Schneider Electric has launched the Building Decarbonization Calculator, a powerful online tool designed to help building owners and operators identify their best retrofit options to reduce carbon emissions. With a...

Nokia has launched a Private Wireless Sustainability Calculator to help industries measure the environmental and social benefits of private wireless networks. Initially designed for the mining, manufacturing, and port sectors,...

Amazon and Johnson Controls are the latest major corporations to join the Sustainable Steel Buyers Platform (SSBP), an initiative aimed at scaling the production and procurement of near-zero emissions steel....

Schneider Electric, a global leader in energy management and automation, made waves at Climate Week NYC 2024, revealing new decarbonization strategies aimed at advancing sustainability across industries. With a focus...

Climate Week NYC, an annual gathering of climate leaders, is now taking center stage over the United Nations Climate Change Conference (COP). The event, running through Sunday in Manhattan, has...

Brookfield Asset Management has secured $2.4 billion in the initial closing of the Catalytic Transition Fund (CTF), moving closer to its goal of raising $5 billion. The fund is aimed...

Bloomberg has announced significant upgrades to its climate solutions suite, aimed at helping investors evaluate companies’ carbon emissions goals and transition risks more accurately. The enhanced tools offer detailed assessments...

Climate Week NYC 2024: A Call for Bold Action Climate Week NYC 2024 opened with a powerful message: “It’s Time.” Hosted in partnership with the United Nations General Assembly, the...

1. Finance and the Energy Transition Roundtable September 23 | 10:00 AM – 11:30 AM EDT Hosted by: Business Council for Sustainable Energy (BCSE) and CleanCapital Global energy transition investment...

At Climate Week NYC, the Climate Group called on governments, businesses, and the global climate community to adopt a far more urgent approach to tackling the emissions gap. The “Global...

The European Investment Bank (EIB) Board has approved €5.3 billion in financing to boost climate resilience and bolster business competitiveness. This investment will support cities, businesses, and communities in Europe...

ING has released its Climate Progress Update 2024, highlighting how it engages with clients in transitioning to a low-carbon economy. The update reflects ING’s commitment to steering the most carbon-intensive...

Ørsted has signed a major deal with Equinor, agreeing to sell 330,000 tonnes of carbon dioxide removal (CDR) credits over a ten-year period. This is tied to Ørsted’s groundbreaking ‘Kalundborg...

The Hong Kong Monetary Authority (HKMA) and the Dubai Financial Services Authority (DFSA) wrapped up their inaugural Joint Climate Finance Conference on September 16, 2024. Held in Hong Kong, the...

Woodland Biofuels Invests $1.35 Billion in Louisiana for Renewable Fuels Toronto-based Woodland Biofuels announced a $1.35 billion investment to build a renewable natural gas (RNG) and ultra-green hydrogen facility at...

More than 530 financial institutions, managing over $29 trillion in assets, are pressuring governments worldwide to take decisive action on the climate crisis. In a joint statement ahead of COP29,...

Travalyst has made flight emissions data more accessible than ever, scaling its information to appear in over 65 billion flight searches globally. This effort, led by the non-profit founded by...

Hygenco Green Energies Pvt Ltd, a leader in green hydrogen production, has signed a Memorandum of Understanding (MOU) with REC Limited to finance its Green Ammonia Project in Gopalpur, Odisha....

The Commission’s Approval The European Commission has approved Poland’s €1.2 billion (PLN 5 billion) state aid scheme, designed to drive investments in sectors crucial for the shift to a net-zero...

European Commission President Ursula von der Leyen has revealed the team that will lead the EU’s most powerful institution for the next five years, with a clear focus on addressing...

The 2023 National Solar Jobs Census, published by the Interstate Renewable Energy Council (IREC), reveals a notable increase in solar jobs across the U.S. The report shows 279,447 workers are...

Despite increasing urgency to address climate change, corporate decarbonization progress has slowed. A new report by Boston Consulting Group (BCG) and CO2 AI reveals minimal progress by companies in addressing...

Apple’s Green Push for iPhone 16 Apple continues its drive toward sustainability with the release of the iPhone 16 and iPhone 16 Plus, reducing their carbon footprint by 30% compared...

The European Commission has approved a €682 million ($756.54 million) Belgian state aid package to support the growth of offshore wind energy. The funds will back the construction and operation...

Germany and Australia signed a $660 million deal to strengthen green hydrogen supply chains, equally funded by both governments. The agreement aims to provide European buyers for Australia’s renewable hydrogen...

The UAE continues to make significant strides in clean energy investments, with total investments exceeding $12 billion (AED 45 billion), according to Suhail bin Mohammed Al Mazrouei, Minister of Energy...

TotalEnergies Joins Japan’s First Low-Carbon Hydrogen Fund TotalEnergies has entered the “Japan Hydrogen Fund” as an investor during its first close. The fund, initially endowed with over $400 million, is...

American Express Global Business Travel (Amex GBT) has achieved a significant milestone in corporate climate action, with its emissions reduction targets validated by the Science Based Targets initiative (SBTi). This...

For more from Tim Mohin, sign up for his newsletter here Tuesday’s US Presidential debate was remarkable for many reasons – but climate was not one of them. However, we listened...

The 2024 State of the Energy Union report highlights the EU’s significant progress in ensuring secure, competitive, and affordable energy, while also laying the groundwork for future economic growth and...

China’s Envision Group Expands Green Hydrogen Efforts in Spain Spain has signed a $1 billion deal with China’s Envision Group to build a factory producing electrolysers, a critical component for...

The European Investment Bank (EIB) and the Development Bank of Southern Africa (DBSA) have increased their support for private sector renewable energy projects, boosting their combined financing to €600 million...

Worldly, a leader in supply chain sustainability insights, launched its Product Impact Calculator, the first tool to seamlessly integrate primary supply chain data with pre-built product impact models. This innovation...

A new report by the Transition Pathway Initiative (TPI), based at the London School of Economics, finds that 30% of the world’s largest corporate emitters now have climate targets aligned...

Google has announced a groundbreaking partnership with Holocene to purchase carbon removal credits at the lowest price recorded for direct air capture (DAC) technology: $100 per ton. This marks a...

The U.S. Environmental Protection Agency (EPA) has issued three draft permits to Oxy Low Carbon Ventures (OLCV), a subsidiary of Occidental Petroleum, for the underground storage of carbon dioxide. These...

Europe’s climate is changing fast, bringing extreme weather that poses significant risks to the region’s economy, environment, and health. With the continent warming at twice the global average since 1980,...

BNP Paribas Accelerates Ecological Transition with €150M Fund BNP Paribas Asset Management (BNPP AM) announced that the BNP Paribas Solar Impulse Venture Fund (BNPP SIVF) has successfully raised its minimum...

Addressing the Heat Crisis Google Research is harnessing the power of AI to tackle one of the most pressing environmental challenges: extreme urban heat. The new Heat Resilience tool, developed...

ADNOC’s Strategic Stake in ExxonMobil’s Hydrogen Plant Abu Dhabi’s ADNOC will acquire a 35% stake in ExxonMobil’s upcoming hydrogen plant in Baytown, Texas. This move is part of a broader...

Volvo Car AB has revised its electric vehicle (EV) strategy, moving away from its initial goal of becoming fully electric by 2030. Instead, the company now plans for plug-in hybrids...

Poland is now aiming for a 56% share of renewable energy in its electricity mix by 2030, according to Climate Minister Paulina Hennig-Kloska. This target, presented in a draft of...

ACEN, GenZero, and Keppel Ltd. have partnered to drive the early retirement of the South Luzon Thermal Energy Corporation (SLTEC) coal-fired power plant (CFPP) in Batangas, the Philippines. The Memorandum...

The global data center industry is expected to emit approximately 2.5 billion metric tons of carbon dioxide-equivalent through 2030, according to a recent report from Morgan Stanley. This level of...

Eni and Snam have launched Ravenna CCS, Italy’s first carbon capture and storage project, positioning it as a leading initiative in global carbon capture efforts. This project is a cornerstone...

EDP Renewables (EDPR) and Microsoft are taking significant strides towards clean energy in Singapore. Under a new 20-year agreement, Microsoft will purchase 100% of the renewable energy exported from EDPR’s...

The UK’s latest renewable power auction marks a significant step in reviving the offshore wind sector. Ørsted and Iberdrola were among the big winners, securing contracts for major projects like...

Nearly half of the UK’s largest companies have had to restate their climate and sustainability metrics this year, reflecting the increasing scrutiny and evolving standards in environmental, social, and governance...

AVPN, Asia’s largest network of social investors, has awarded $5 million in grants through its APAC Sustainability Seed Fund (SSF) 2.0. Supported by Google.org and the Asian Development Bank (ADB),...

Egypt’s Ministry of Electricity and Renewable Energy has approved a $900 million bid from the Abu Dhabi Future Energy Company (Masdar) to develop solar power plants in Upper Egypt, including...

European financial institutions are grappling with significant climate-related risks, leading to substantial financial losses and regulatory pressures. To address these challenges, the International Finance Corporation (IFC) has launched a groundbreaking...

Wells Fargo is leveraging its scale to spearhead a shift toward sustainability. According to the August 2024 Climate Report, the bank is focused on decarbonizing its operations and helping customers...

For more from Tim Mohin, sign up for his newsletter here California made headlines in March 2023 when the legislature sent Governor Gavin Newsom three new climate laws. He signed all three into...