The Government of Canada announced a $200 million investment through the Canada Growth Fund (CGF) in Calgary-based carbon capture startup Entropy, alongside a long-term fixed-price carbon credit purchase agreement for up to one million tonnes per year, aimed at de-risking Entropy’s projects to help decarbonize emissions-intensive, hard-to-abate industries. Founded in 2020 by Calgary-based natural gas company Advantage Energy and energy-focused…
Microsoft and nature-based carbon removal startup Chestnut Carbon announced today a 15-year offtake agreement, with Chestnut providing Microsoft with potentially more than 3 million tons of nature based credits from its U.S.-based afforestation project. The deal includes the removal of 362,000 tons of carbon in its first phase, and up to 2.7 million tons in subsequent phases, which would mark…
The European Commission announced today investments of €2.2 billion in clean energy projects in lower-income member states, with the new disbursements funded by revenues from the EU Emissions Trading System (EU ETS). Allocations for the projects were made through the EU’s Modernisation Fund. Launched in 2018, with disbursements beginning in 2021, the fund was designed to support the modernization of…
Amsterdam-based global bank ING announced today that it will phase out financing of upstream oil and gas activities, ending its lending for oil and gas exploration and production, by 2040, while setting a new target to triple financing for renewable power generation by 2025. According to ING, the new commitments are aimed at building on the progress made at the…