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Category: Sustainable Finance
The insurance industry has a crucial role to play in combating climate change. Recognizing this, the United Nations Environment Programme (UNEP) recently launched a new initiative, the Forum for Insurance...
Decarbonization Partners, a joint venture between BlackRock and Temasek, successfully closed its first fund, Decarbonization Partners Fund I, at $1.4 billion. This figure surpassed the initial target of $1 billion,...
The latest issue of SEB’s The Green Bond report is dedicated to the question of how to scale energy transition investments at the speed required to reach net-zero emissions and...
RE Royalties Ltd., a global leader in renewable energy royalty-based financing is pleased to announce the publication of its 2024 Green Bond Framework (the “Framework”), assessed as Dark Green, and...
The IFC-facilitated Sustainable Banking and Finance Network (SBFN) has unveiled its 2024 Global Progress Brief and launched the innovative SBFN Data Portal, offering the most comprehensive benchmarking of sustainable finance trends and initiatives...
World Bank Group, African Development Bank initiative could halve the number of people in Africa living without electricity access The World Bank Group and African Development Bank Group are partnering...
The Asian Infrastructure Investment Bank (AIIB) and the World Bank have signed a renewed Memorandum of Understanding (MOU) to enhance collaboration on infrastructure development and support the achievement of the...
Scotiabank has issued its inaugural EUR 1 billion, 5-year senior fixed rate Green Bond (the “EUR Green Bond”) in the European market pursuant to Scotiabank’s Sustainable Issuance Framework released on April 5, 2024 (the...
LG Electronics (LG) has successfully issued a global bond of USD 800 million, marking its first in 17 years. Despite the growing global volatility, LG managed to achieve a negative...
Ziraat Bank successfully renewed its sustainability-linked syndicated loan facility in the amount of USD 1.7 billion (USD 742 million and EUR 884 million) with 132% roll-over ratio. The syndication loan...
Key Impact Points: In 2023, JPMorgan Chase continued to demonstrate its unwavering commitment to Environmental, Social, and Governance (ESG) principles through its comprehensive annual ESG report. The report provides an...
Key Impact Points: In a significant stride towards combating climate change, the Net-Zero Asset Owner Alliance, a coalition of major institutional investors, unveils its latest initiative to steer $9.5 trillion...
Acre Impact Capital, a pioneering private-debt impact investment manager, announces the successful first closing of its Export Finance Fund I. With commitments nearing US$100mn and a robust target of US$300mn,...
At the World Circular Economy Forum 2024, the European Union’s largest public promotional banks and institutions — Bank Gospodarstwa Krajowego (BGK — Poland), Caisse des Dépôts Group (CDC — France),...
Once again, BBVA has been busy promoting sustainability training among 418 of its suppliers and SME customers across 13 countries in which it operates. A total of 552 people will...
Singapore is spearheading a significant financial initiative designed to mobilize $5 billion alongside global partners to support climate-focused projects throughout Asia. This ambitious effort, termed the “Financing Asia’s Transition Partnership”...
Barclays announced the appointment of Isabelle Millat as Head of Sustainable Finance for Global Markets and Barclays Europe. A critical element of Barclays’ Investment Bank strategy and net zero ambition...
RWE successfully placed its first green US dollar bond with a total volume of US$2 billion. The bond was issued in two tranches of US$1 billion with 10-year tenor and...
The Monetary Authority of Singapore (MAS) and Institute of Banking and Finance (IBF), supported by Workforce Singapore (WSG), launched the Sustainable Finance Jobs Transformation Map (JTM), which lays out the...
Calls for innovative solutions as part of its AI for Climate and Nature Grand Challenge The Bezos Earth Fund unveiled an AI for Climate and Nature Grand Challenge – under which up to $100...
Mastercard’s 2023 Environmental, Social and Governance Report details how the company is activating its network, services, products, and partnerships to fulfill its commitment to social good. The report highlights progress...
EdgeConneX strategic finance team garners prestigious Project Finance International Award as it raised over $7 billion in total green investments over the past 2 years EdgeConneX®, a pioneer in global Build-to-Suit and Build-to-Density Solutions,...
A critical element of Barclays’ Investment Banking strategy and net zero ambition is support for clients as they navigate the transition to a low-carbon economy. As part of Barclays’ continued...
Standard Chartered, KPMG and the United Nations Office for Disaster Risk Reduction (UNDRR) are calling for a step-change in the mobilisation of finance for adaptation and resilience ahead of COP29,...
Switzerland will continue to support the Green Climate Fund (GCF) with a total contribution of CHF 135 million over the next four years. The Federal Council took this decision at...
Key Impact Points: Small and medium-sized enterprises (SMEs) are increasingly recognizing the urgency of addressing climate change, but a recent report sheds light on the significant hurdles they face in...
A new World Bank program is set to strengthen and expand the electricity network, improve sector financial viability, and enable renewable energy generation through private sector participation in Ethiopia. Ethiopia...
EY announced the launch of a new Sustainable Finance Innovation Hub in Dublin to help financial institutions around the world accelerate their efforts to meet their environmental, social and governance...
Welcome back to the ESG News Week In Review! We’re thrilled to have you with us again. This week, the U.S. Securities and Exchange Commission (SEC) has pressed pause on...
Three of the largest North American banks have agreed to publicly disclose their financing ratio of low-carbon energy to fossil fuels, setting a new standard for the banking sector After...
Chevron New Energies (CNE), a division of Chevron U.S.A. Inc., announced a lead investment in ION Clean Energy (ION), a Boulder-based technology company that provides post-combustion point-source capture technology through...
RMI, in cooperation with leading global banks—BNP Paribas, Citi, Crédit Agricole CIB, Societe Generale, and Standard Chartered—and in consultation with industry, experts, and additional financial institutions has developed a first-of-its-kind framework...
California is accelerating its transition to clean energy with a revamped 2023-2024 transmission plan proposed by the California Independent System Operator (ISO). The $6.1 billion plan prioritizes grid reliability and...
A new study will collect carbon emissions data from B.C.’s regional airports with the goal of getting all airports in the province to net-zero by 2030. The study is part...
UBS Asset Management (UBS AM) has launched the UBS ETF S&P 500 Climate Transition ESG UCITS ETF, marking a significant stride for sustainability-focused investors in Europe. This ETF is the...
SSAB’s Board of Directors have taken the decision to proceed with the next step in SSABs transition, building a state-of-the-art fossil-free mini-mill in Luleå, Sweden. When completed SSAB will close...
In the streets of some of the world’s fastest-growing cities, a powerful shift is underway. As the sun rises, the familiar sounds of car horns and bustling crowds are joined...
Tokyo-based banking group Mitsubishi UFJ Financial Group (MUFG) unveiled a significant commitment to sustainability. The company announced a nearly threefold increase in its 2030 sustainable finance target, alongside the establishment...
In the comprehensive report titled “Citi’s Approach to Climate Change and Net Zero” released on March 28, 2024, by Citi under the stewardship of Chief Executive Officer Jane Fraser, the...
TenneT Holding B.V. successfully priced a dual Tranche Green Hybrid Bond of EUR 550 million with a coupon of 4.625% and a non-call period of 5.25 years and EUR 550...
SLB Announces Agreement to Acquire Majority Ownership in Aker Carbon Capture SLB and Aker Carbon Capture will combine technology portfolios, expertise and operations platforms to bring carbon capture solutions to...
In 2023, 96 percent of power consumption at BBVA Group facilities came from renewable sources, well above the 70 percent target set for 2025. In Spain, Portugal, Colombia, Uruguay, Mexico,...
In a landmark move, the French and Brazilian presidents announced a $1.1 billion initiative aimed at preserving the Amazon rainforest, signaling a renewed partnership between France and Brazil. This collaboration...
The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, launched a consultation on Draft Regulatory Technical Standards (RTS) related to the registration and supervision of external reviewers...
British International Investment (BII), the UK’s Development Finance Institution (DFI) and impact investor, today announced a US$ 100 million finance facility with the Eastern and Southern African Trade and Development...
The Republic of Iceland issued a green bond in the amount of 750 million euros, the equivalent of ISK 111 bn. The bond bears a 3.5% fixed rate coupon, a...
South Korea has pledged a significant financial commitment to tackling climate change, announcing a $313 billion green financing plan. This initiative aims to slash greenhouse gas emissions by 40% from...
BNP Paribas Asset Management announces the launch of the BNP Paribas Global Net Zero Transition Equity fund, a Luxembourg-domiciled equity fund offering investors exposure to a well-diversified strategy across sectors,...
Barclays and Lightsource bp announced that they have committed to a $140 million tax equity deal which will finance the construction of the Prairie Ronde 180MWdc solar project in St....
Carbon markets hold immense potential to propel corporate climate action, but significant adaptations are necessary to unlock their full potential. Businesses play a pivotal role in achieving global climate goals....
“The electrification of energy is unstoppable and will expand exponentially in the years ahead, supporting decarbonisation, boosting energy security, and reducing the volatility caused by fossil fuels. Our strategic pillars...
ESO publishes investment plan for future energy system: The Electricity System Operator (ESO) has published a report called “Beyond 2030”, which proposes a £58 billion investment in the electricity grid to...
Through the agreement, the two organizations have agreed to co-invest in Sustainable Aviation Fuel (“SAF”), allowing Standard Chartered to balance CO₂ emissions linked to its upstream logistics with high quality...
Net Zero Teesside Power (NZT Power) and the Northern Endurance Partnership (NEP) have selected contractors for engineering, procurement, and construction contracts with a combined value of around £4bn. The selection...
Lloyds Banking Group has announced a strategic partnership with Projects for Nature to upgrade the protection and restoration of England’s natural environment. Projects for Nature, launched by the Secretary of State...
As part of President Biden’s Investing in America agenda, the U.S. Department of Energy (DOE) today announced $750 million for 52 projects across 24 states to dramatically reduce the cost of clean...
2023 Non-Financial Report: further progress on sustainability “In 2023 we proved the strength of our Global Hausbank and its value for clients,” said Christian Sewing, Chief Executive Officer. “Business growth,...
Jet Zero Australia Pty Ltd (Jet Zero Australia) has achieved a significant milestone by successfully receiving funding commitments of A$29 million(1). This is a crucial step towards advancing the engineering activities of...
TD Bank Group (TD or the Bank) provided updates on its sustainability strategy and continuing efforts to help its customers, communities and colleagues thrive in a changing world. “In the...
Members of the bank-led, UN-convened Net-Zero Banking Alliance (NZBA) have chosen to update and reinforce their climate commitments by voting to adopt a new version of the Guidelines for Climate...
CarbonCapture Inc. (CarbonCapture), a leading US-based direct air capture (DAC) company, today announced the successful completion of its $80 million Series A financing following the addition of multiple strategic investors that include...
Unreasonable Impact, a strategic partnership between Unreasonable Group and Barclays, has announced the latest ventures to join its UK & Europe programme. This year’s ventures offer solutions ranging from food...
Funding from President Biden’s Bipartisan Infrastructure Law Will Create Good-Paying Manufacturing Jobs, Build Clean Energy Supply Chains, and Reduce Industrial Emissions The U.S. Department of Energy (DOE) announced $425 million...
The Boards of Governors of the Inter-American Development Bank (IDB) and IDB Invest approved three transformative changes to increase the impact and scale of the IDB Group’s development work in...
BBVA publishes its clients’ progress toward decarbonization for the first time BBVA has published its clients’ progress toward decarbonization in the initial version of its climate transition plan. The bank...
NatPower announces the development of the largest project for the construction of battery storage systems for over 60 GWh in the UK Over 10 billion GBP NatPower UK investments earmarked for...
Breaking down gender barriers to food security in the Philippines, Sri Lanka and India Deutsche Bank, through its Corporate Responsibility programme in Asia, is helping women from local communities and...
Government announces the largest ever budget for the upcoming Contracts for Difference auction round. Britain’s flagship renewables scheme has received its biggest ever funding boost from government, with more than...
Annual Climate Report provides first insights on assessment of RBC Capital Markets’ energy client transition plans; new actions from RBC to provide capital for renewable energy and other low-carbon energy,...
Aligned with United Nations SDG 11, IBM announced a new request for proposals from government and non-profit organizations for the IBM Sustainability Accelerator, focused on technology-driven projects to advance city resiliency. IBM...
The Southern African Power Pool (SAPP), in partnership with the Southern African Development Community (SADC), announced the appointment of climate-centric blended finance fund manager Climate Fund Managers (CFM) to manage...
TC Energy Corporation and its partner Northern New England Investment Company, Inc., a subsidiary of Énergir L.P. (Énergir), have entered into a purchase and sale agreement to sell Portland Natural...
This year, Standard Chartered has expanded the scope of their annual Fair Pay Report to cover broader commitment to diversity, equality and inclusion. How Standard Chartered Support Their Colleagues: “Creating...
BBVA widens its sustainable business with a global finance unit that will focus on cleantech innovation, announced BBVA Chair Carlos Torres Vila at the 3rd BBVA Sustainability Forum, held Thursday...
ChargePoint, EnTech Solutions™, and Wells Fargo to fill the financial gap companies need to build EV infrastructure ChargePoint, a leading provider of solutions for charging electric vehicles (EVs), EnTech Solutions, a...
The Government of Canada is announcing its plan to issue its second Canadian-dollar-denominated green bond this week, subject to market conditions. This follows the successful issuance of Canada’s first 7.5-year, $5...
Deutsche Bank has taken a significant step towards achieving its ambitious sustainability goals with the launch of its updated Sustainable Finance Framework. This comprehensive guideline outlines the bank’s approach to...
Collaborative projects with the Brazilian Development Bank and Brazilian financial institutions aim to support Brazil to deliver its G20 Presidency climate finance priorities and ambitious climate goals UN Secretary-General’s Special...
The Business Council supports the continuous improvement in the quality of climate related financial disclosures to facilitate climate risks and opportunities when making investment decisions and is calling for close...
Cepsa and Bio-Oils, a subsidiary of Apical, are beginning construction of the largest second-generation biofuels plant in southern Europe. This facility, which will flexibly produce 500,000 tons of sustainable aviation fuel (SAF)...
European Union (EU) import charges on carbon-intensive products are expected to have a limited impact on climate change and only a modest negative effect on economies in Asia and the...
Plug-in Taxi Grant provides funding of £6,000 per electric taxi vehicle and is extended until April 2025. More green taxis will take to the UK’s roads thanks to an extension to...
The Commission is investing over €233 million in twelve new Strategic Projects across Europe under theLIFE programme to support the implementation of the EU’s environmental and climate ambitions under the European Green Deal....
Nest, the UK’s largest pension scheme, is embarking on a groundbreaking journey towards a more sustainable future with a £5 billion equity fund dedicated to Environmental, Social, and Governance (ESG)...
AIB said today it has appointed Paul Travers as Managing Director Climate Capital at the bank. The bank said the appointment will support the delivery of its three-year strategy which...
BNP Paribas Asset Management (‘BNPP AM’) announced the launch of the first two funds in its new suite of innovative fixed income exchange-traded funds (‘ETFs’). BNP Paribas Easy Sustainable EUR Corporate...
Verizon Communications Inc. issued its Green Bond Impact Report, outlining the full allocation of the nearly $1 billion of net proceeds from its fifth green bond, which was issued in May 2023....
The issuance of green, social, sustainability, and sustainability-linked bonds (GSSSB) is forecast to reach around $1 trillion in 2024, according to S&P Global Ratings. While this marks a modest increase...
They will also be able to demonstrate their positive impact on the environment with robust reporting functionality, reduced greenwashing, and the encouragement of businesses to invest in sustainable initiatives through...
Goldman Sachs Asset Management announced the launch of their new Goldman Sachs Global Green Bond UCITS ETF, an Article 9 fund tracking a bespoke index. Developed in collaboration with Solactive,...
World First: supports Japan’s ambitious emission reduction goals Japan will issue the first tranche of its JPY1.6tn (USD11bn) Climate Transition Bond, with proceeds being used to fund Japan’s ambitious Green Transformation (GX)...
The Commission welcomes an agreement between the European Parliament and the Council on the most ambitious and comprehensive reform of the EU’s economic governance framework since the aftermath of the...
The Dow Chemical Company (“TDCC”), a wholly owned subsidiary of Dow, announced the closing of its green bond offering of $600 million aggregate principal amount of 5.150% notes due 2034 and $650 million aggregate principal...
Automotive Cells Company (ACC) announced the closing of a 4.4 billion euro Project Financing for the development of three gigafactories for lithium-ion battery cell production in France, Germany, and Italy. Deutsche...
The World Bank has extended a facility of close to $300 million to the Eastern and Southern African Trade and Development Bank (TDB), to support distributed renewable energy (DRE) and...
Ahead of GreenBiz 2024, Salesforce conducted a new study in partnership with GlobeScan, revealing that 93% of sustainability, finance, and technology leaders think sustainability is crucial to the success of their organizations....
Stops directly financing energy clients’ new oil and gas projects London, 09 February 2024 – Barclays today publishes a revised Climate Change Statement to progress its climate strategy and continues its...
The Government of the Hong Kong Special Administrative Region of the People’s Republic of China (the HKSAR Government) announced the successful offering of around HK$6 billion worth of digital green...
HSBC announced a partnership with Google Cloud to accelerate climate mitigation and resilience through financing and support for companies in the Google Cloud Ready – Sustainability (GCR-Sustainability) programme. GCR-Sustainability is a validation...
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