Category: Global News
The European Commission has issued €6 billion of NextGenerationEU green bonds in its fourth syndicated transaction for 2023. The single tranche transaction was executed via a tap of the green...
The World Bank’s Board approved a new US$100 million equivalent loan for the Armenia Green, Resilient and Inclusive Development Policy Operation (DPO). The operation supports the 2021-26 Program of the Government of...
More than €1.1 billion in finance to be mobilized in sustainable projects, supported by €150 million in InvestEU guarantees The InvestEU Investment Committee has approved guarantees worth up to around €150 million...
The World Bank approved $82 million to support the Climate-Resilient and Inclusive Livelihoods Project (ProClimat Congo) in the Republic of Congo. The total amount includes a $70 million loan from...
The European Investment Bank (EIB) has agreed to lend €450 million to Redes Energéticas Nacionais SGPS, S.A. (REN) to finance renewable energy connections and the reinforcement and upgrading of the...
EIB Global, the arm of the European Investment Bank (EIB) for activities outside the European Union, has signed a €70 million EU investment grant with the government of the Republic of North...
The World Bank Group Board of Executive Directors yesterday approved a new Country Partnership Framework (CPF) for Egypt, laying out the World Bank Group’s strategy in the country for FY2023–2027. The...
EU Parliament and Council reached a deal on cleaner maritime fuels, asking to cut ship emissions by 2% as of 2025 and by 80% as of 2050, to help the...
The European Central Bank (ECB) has published its first climate-related financial disclosures, which provide information on its portfolios’ carbon footprint and exposure to climate risks, as well as on climate-related...
Japan’s third-biggest oil refiner, Cosmo Energy Holdings Co Ltd, will make an investment of $3.2 billion in the next three years, with 30% to be allocated in green power and...
Yesterday’s final investment decision clears the way for the start of construction of EnBW’s largest offshore wind farm to date, with an installed capacity of 960 megawatts (MW). “The final...
Carbon markets hold steady amid energy cost surges, finds the International Carbon Action Partnership (ICAP)’s Emissions Trading Worldwide Status Report for 2023. The world’s emissions trading systems (ETSs) were largely...
The EU Commission is proposing common criteria against greenwashing and misleading environmental claims. Under the proposal, consumers will have more clarity, stronger reassurance that when something is sold as green, it actually is green, and...
From tomorrow, at the United Nations Water Conference in New York from 22 to 24 March, the EU will be confirming its strong engagement for global water security by announcing 33 commitments...
South Korea revised down its 2030 targets for reducing greenhouse gas emissions in the industrial sector on Tuesday but maintained its national goal of cutting emissions by 40% of 2018...
UK Financial Watchdog The Financial Conduct Authority (FCA) released the following on its review of ESG Benchmarks: In September 2022, we sent a portfolio letter to benchmark administrators where we highlighted the...
This month, Sweden took over the rotating presidency of the Council of the EU with a pledge to focus on security, competitiveness, green and energy transitions, democratic values and the...
British Columbia’s decision this week to toughen emissions standards for new liquefied natural gas (LNG) projects creates one of the most robust climate plans in North America, but sets a...
Malaysia’s Petronas has bid 38 billion rupees ($460 million) for a 20% stake in the green energy arm of India’s largest power producer, NTPC, in the first deal of its...
Scottish Power, an Iberdrola group company, and Haizea Wind Group, a world leader in the manufacture of wind towers, have signed a framework agreement worth over €200 million for Haizea Bilbao to supply...
The EU Commission proposed the Net-Zero Industry Act to scale up manufacturing of clean technologies in the EU and make sure the Union is well-equipped for the clean-energy transition. This initiative was...
New law raises the EU carbon sinks target for the land use and forestry sector, which should reduce greenhouse gases in the EU in 2030 by up to 57% compared...
EU Parliament adopted draft measures to increase the rate of renovations and reduce energy consumption and greenhouse-gas emissions on Tuesday. The proposed revision of the Energy Performance of Buildings Directive...
The EU Commission has proposed to reform the EU’s electricity market design to accelerate a surge in renewables and the phase-out of gas, make consumer bills less dependent on volatile fossil fuel prices, better protect...
Ally Law, a prominent global legal network with 80 member firms in 45 countries, kicked off its 2023 Annual General Meeting in Sydney, Australia, today. Hosted by member firm Russell Kennedy from March 14...
The Parker Review committee has published the 2022 results of its latest voluntary census on the ethnic diversity of FTSE 350 company boards, carried out jointly with the Department for...
Pepperl+Fuchs establishes sustainable factory in Vietnam financed by USD 15m green loan from Deutsche Bank Pepperl+Fuchs announced the inauguration of a new sustainable manufacturing facility in Vietnam, which has been...
The European Investment Bank (EIB) has granted a €300 million loan to novobanco to facilitate the financing of projects undertaken by SMEs (firms with up to 250 employees), MidCaps (firms with up...
Britain will invest 20 billion pounds ($24 billion) over the next 20 years in projects to capture and store carbon dioxide (C02), the government said on Friday, as part of...
The European Investment Bank Group (EIBG) has signed a new contract with the Greek state for technical assistance from the banks’ Advisory Hub which will help facilitate crucial investments to...
The Commission welcomes the provisional agreement reached this morning with the European Parliament and the Council to reform and strengthen the EU Energy Efficiency Directive. This deal marks a further step in...
The First Green Transition Programmatic Development Policy Loan was approved by the World Bank’s Board of Executive Directors, providing EUR 149.9 million (US$160 million equivalent) in support of Serbia’s bolstered efforts to...
Three major groups are joining forces to fight climate change and launch the European Clean Transport Network Alliance (ECTN Alliance), a concrete solution to decarbonize road freight transport. Mobilizing the...
The Commission announced an investment of over €116 million for the new LIFE Programme’s Strategic Projects. The funding will help eight major projects in Belgium, Estonia, Spain, Italy, Poland, Slovakia and Finland reach their climate and environmental targets....
The European Investment Bank, the world’s largest multilateral bank, and Afreximbank, the pan-African multilateral financial institution, have joined forces to enhance healthcare and pharmaceutical investment across sub-Saharan Africa and strengthen...
The OPEC Fund for International Development (the OPEC Fund) is providing a US$25 million loan in support of the Niger Solar Plant Development and Electricity Access Improvement Project (RANAA), which...
The World Bank’s Board of Executive Directors approved financing support in the amount of $12 million for the Scaling Solar 2 Project for Uzbekistan. The Project will help expand the country’s capacity...
The African Development Bank, rated Aaa/AAA/AAA/AAA (Moody’s/S&P/Fitch/Japan Credit Rating, all stable) has successfully launched an AUD 50 million 15-year Kangaroo Green Bond due March 2038. The new issuance was arranged...
South Korea’s national pension fund will consider climate change as part of its stewardship activities going forward, the welfare ministry said on Tuesday. A panel that oversees the National Pension...
Climate change and the global response to the threats it poses have the potential to significantly impact the safety and soundness of the Canadian financial system. Today, the Office of...
GeNeuro, a biopharmaceutical company developing novel treatments for neurodegenerative and autoimmune diseases such as multiple sclerosis (MS), amyotrophic lateral sclerosis (ALS) and the severe consequences of COVID-19, (PASC, post-COVID or...
Extreme weather caused by climate change could cost Germany up to 900 billion euros in cumulative economic damage by mid-century, a study showed on Monday, as Europe’s biggest economy seeks...
The European Investment Bank (EIB), Crédit Agricole Corporate and Investment Bank Milan branch (Crédit Agricole CIB), Natixis Corporate and Investment Banking (Natixis CIB) and Reden have closed a project finance operation...
In an official visit in Morocco, Neighbourhood and Enlargement Commissioner Olivér Várhelyi announced new cooperation programmes worth €624 million in total to support Morocco’s transition to green energy, enhance cooperation on addressing irregular...
Marubeni Corporation signed a MOU with the Public Investment Fund (“PIF”), one of the world’s largest and most impactful sovereign wealth funds, to set out a framework for the development...
At the Our Ocean Conference in Panama, the EU is confirming its strong engagement for international ocean governance by announcing 39 commitments for action for the year 2023. These actions will be funded by €816.5...
The European Investment Bank (EIB) unveiled a new study titled “Cutting plastics pollution – Financial measures for a more circular value chain”. The study analyses the inefficiencies of the plastics value...
The European Investment Bank. the world’s largest multilateral bank and leading global financier of renewable energy, will strengthen support for green hydrogen investment in Kenya. Thomas Östros, European Investment Bank...
EU negotiators on Tuesday struck a deal creating the first best in class standard for the issuing of green bonds. The “European Green Bonds Standard” (EUGBS), which companies issuing a...
On Wednesday members of the Committee on the Environment, Public Health and Food Safety (ENVI) adopted their position on revising the EU’s legislative framework on fluorinated gases (F-gases) emissions with 64 votes...
The European Commission has found Hungary’s €89.6 million measure in favour of Samsung SDI to be in line with EU State aid rules. The investment aid will support the expansion...
To support the decarbonization of Senegal’s industrial sector, IFC announced a partnership with Sococim Industries, Senegal’s largest integrated cement manufacturer, which will boost low-carbon cement production, create jobs, and help...
Essar Group, invested in Energy, Metals and Mining, Infrastructure and Technology sectors, announces the formation of Essar Energy Transition to drive the creation of the UK’s leading energy transition hub...
The European Investment Bank (EIB) will support PackBenefit with a €13 million venture debt loan to expand the company’s manufacturing capacity of recyclable and compostable food trays to meet growing...
The European Commission has approved, under EU State aid rules, a €1.1 billion German scheme to compensate rail transport operators using electric traction in the context of the recent spike...
The Government of Spain is providing a €100 million guarantee for a World Bank project aimed at repairing healthcare infrastructure and strengthening primary healthcare in Ukraine. The Health Enhancement and Life-Saving (HEAL...
During the year, the EU bank committed €150 million in support for a large-scale urban regeneration project which aims to make Cypriot municipalities greener, boost the economy, and improve the...
Supporting our economy for future generations will mean supporting good, middle class jobs for workers. Canadians workers are already leading in spaces like clean tech, and the Government of Canada...
Japan’s Tokyo Gas will cut shareholder returns from the next financial year and use freed up funds to invest in technology to slash its carbon emissions, the company said on Wednesday....
Indonesia on Wednesday launched the first phase of mandatory carbon trading for coal power plants, part of efforts by Southeast Asia’s biggest economy to boost renewable energy and achieve net...
The European Investment Bank (EIB) and Joo Group, company that develops and manages rental properties in urban areas in Finland, have signed a new €100 million green loan agreement to...
Cepsa and ACE Terminal have signed a MoU by which the Spanish energy company will supply green ammonia to the planned import terminal in the port of Rotterdam, for end use applications...
The governments of India, the United Kingdom and the United States joined with business, the World Business Council for Sustainable Development (WBCSD) and multilateral funding organization to launch the first...
The European Investment Bank (EIB) has agreed to provide a €40 million 10-year loan to Motor Oil, cofinancing its new investment to develop an extensive network of EV charging and...
Canada has what it takes to be a clean energy and technology supplier of choice in a net-zero world. A net-zero emissions economy represents significant opportunities for Canadians – to...
China has launched a national wind and solar resources climate prediction model to enable provincial authorities to forecast energy demand and supply, the central government said on Friday. The model,...
The funding will allow AGGF to broaden its financing for climate-friendly projects in Africa The AfricaGoGreen Fund has made headlines with the announcement of its successful second fundraising close, securing...
The European Commission has approved, under EU State aid rules, a €460 million Spanish measure to support ArcelorMittal España in partially decarbonising its steel production processes. The measure will contribute to...
India will exclude renewable power companies from government contracts for between three and five years if they do not meet project completion deadlines, a government order seen by Reuters shows,...
The European Investment Bank (EIB) has granted, with InvestEU support, a €50 million loan to Asja Ambiente Italia to co-finance the construction of nine photovoltaic and wind power plants in...
Amazon.com has granted 1.5 million euros ($1.6 million) to a Dutch project testing the viability of commercially growing seaweed in between turbines of offshore wind farms, the company and organisers...
The Board of Directors of the European Investment Bank (EIB) has approved €5.5 billion of new financing to support new green energy, business, transport, health and education across Europe and...
The Green Finance Industry Taskforce (GFIT), convened by the Monetary Authority of Singapore (MAS), launched its final public consultation on a green and transition taxonomy for Singapore-based financial institutions. The consultation...
The World Bank (International Bank for Reconstruction and Development, IBRD) priced a five-year $50 million, principal protected Emission Reduction-Linked Bond that provides investors a return linked to the issuance of...
The European Commission has approved, under EU State aid rules, a €170 million Danish scheme to support the production of renewable hydrogen through Power-to-X (‘PtX’) technologies. The measure aims to...
JERA Co., Inc. has entered into a Memorandum of Understanding with Abu Dhabi National Energy Company P.J.S.C. (“TAQA”), one of the largest listed integrated utilities in the Middle East, that...
The European Commission has proposed ambitious new CO2 emissions targets for new heavy-duty vehicles (HDVs) from 2030 onwards. These targets will help to reduce CO2 emissions in the transport sector –...
The EU Parliament approved the new CO2 emissions reduction targets for new passenger cars and light commercial vehicles, part of the “Fit for 55” package. With 340 votes in favour,...
The Commission has proposed detailed rules to define what constitutes renewable hydrogen in the EU, with the adoption of two Delegated Acts required under the Renewable Energy Directive. These Acts are...
Following the devastating 7.8 magnitude earthquake which struck South-East Türkiye and North-West Syria on February 6, PepsiCo and the PepsiCo Foundation are moving quickly to support the humanitarian response. With...
The European Commission has approved, under EU State aid rules, a €2.08 billion French measure to support offshore wind electricity production in France. The measure will contribute to achieving France’s...
Meeting in Mumbai, European Investment Bank (EIB) Vice-President Kris Peeters and founder of global sustainability private equity firm GEF Capital Partners Raj Paj formally announced a $40 million commitment to the...
The Water Sector Governance and Infrastructure Support Project was jointly launched by the Honorable Minister of Water Supply, Abdul Khan and World Bank Country Director for Maldives, Nepal, and Sri Lanka,...
Dubai Islamic Bank, the biggest Islamic lender in the United Arab Emirates, is set to raise $1 billion from a sale of long five-year sustainable sukuk, a bank document showed...
The ACCF is a multi-donor trust fund that backs the African Development Bank Group’s target of tripling its climate financing and advancing Africa’s climate resilience Ireland and Austria have joined...
Ethiopia has signed a landmark agreement with the World Bank’s BioCarbon Fund Initiative for Sustainable Forest Landscapes (ISFL) that rewards community efforts to reduce carbon emissions by tackling deforestation and land and...
Matrix Renewables, the TPG Rise-backed global renewable energy platform, and BBVA have announced the closing of €40 million in sustainable financing to begin the construction of two solar plants, Zaratán and...
Today in Mumbai Kris Peeters, Vice-President of the European Investment Bank (EIB), the bank of the European Union, formally agreed to join the India Hydrogen Alliance (IH2A) and increase support...
The Reserve Bank of India will soon issue guidelines for regulated entities to boost green finance and mitigate climate-related financial risks, the central bank governor said on Wednesday. “It has...
The Department for Energy Security and Net Zero will provide dedicated leadership focused on delivering security of energy supply, ensuring properly functioning markets, greater energy efficiency and seizing the opportunities...
The European Commission has approved, under EU State aid rules, a Greek scheme to partially compensate energy-intensive companies for higher electricity prices resulting from indirect emission costs under the EU...
Carrier Global Corporation (NYSE: CARR), the leading global provider of healthy, safe, sustainable and intelligent building and cold chain solutions, today announced plans to reduce its greenhouse gas (GHG) emissions in line...
RWE is taking big steps towards expanding its solar business in Europe. The company has started construction works on a 92-megawatt ac (MWac) ground-mounted photovoltaic project in Andalucia in the...
“We are delighted to explore cooperation opportunities with HH2E, as it is another step forward in our hydrogen strategy and will enable us to drive the structural change in our...
Sumitomo Corp and Chile power supplier Colbun have agreed to collaborate in production of green hydrogen and ammonia, the Japanese company said on Friday. The memorandum of understanding focuses on green...
The European Investment Bank Group signed a record amount in new financing for renewables, efficiency, storage and grids in 2022, highlighting the EU bank’s unwavering commitment to ensure access to...
The World Bank has signed an agreement with four West and Central African nations worth $311 million to fund renewable energy projects. The funds will finance around 106 megawatts (MW)...
The Commission presents a Green Deal Industrial Plan to enhance the competitiveness of Europe’s net-zero industry and support the fast transition to climate neutrality. The Plan aims to provide a more supportive...
TotalEnergies has started up commercial operation of a 51-megawatt (MW) solar power plant located in Tsu, Mie Prefecture, Japan. The plant, connected to the electricity distribution grid, will supply its...
Ingka Group, the owner of most IKEA stores globally, will take a 15% stake in a A$2 billion ($1.4 billion) wind farm in its first renewable-energy investment in Australia as...
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