The financial services industry is standing at the edge of a pivotal transformation. Amidst economic uncertainty, political shifts, and rising regulatory pressure, one fact has become undeniable: the future of finance lies in sustainability.
The future of financial services is sustainable – and it’s coming fast
The financial services industry is standing at the edge of a pivotal transformation. Amidst economic uncertainty, political shifts, and rising regulatory pressure, one fact has become undeniable: the future of finance lies in sustainability.
Brookfield to Invest up to $1.1 Billion in Synthetic Sustainable Aviation Fuel Startup Infinium
Brookfield Asset Management announced today the launch of a new strategic funding partnership with low carbon electrofuels (eFuels) provider Infinium, with Brookfield committing to invest up to $1.1 billion to accelerate the company’s eFuels platform and its production of synthetic sustainable aviation fuel (eSAF). The investment will be made by Brookfield’s $15 billion decarbonization-focused Brookfield Global Transition Fund (BGTF I),…
Nordea Wins $450 Million Sustainability-Focused Equity Investment Mandate from CalSTRS
Northern Europe-based asset manager Nordea Asset Management announced that it been awarded a $450 million sustainability-focused global equity investment mandate by the California State Teachers’ Retirement System (CalSTRS), one of the largest public pension funds in the U.S. Under the new mandate, Nordea’s Global Stars Equity Strategy to manage a portion of ClasSTRS’ Sustainability-Focused Equity portfolio. Nordea’s STARS range features…
Bank of America Provides $205 Million Tax Equity Financing for Carbon Capture Project at Harvestone Biorefinery
Low carbon biofuels producer Harvestone Low Carbon Partners (HLCP)announced that it has closed a $205 million tax equity financing with Bank of America to support its North Dakota-based biofuel carbon capture and storage project, marking the first financing of its kind since the passage of the Inflation Reduction Act (IRA). Passed by the U.S. in 2022, the Inflation Reduction Act…
CEOs Are Deprioritizing Sustainability as it Becomes More Important to Consumers, Corporate Buyers: Bain Survey
Sustainability is falling behind other pressing issues on the prioritization list of CEOs globally, at the same time that consumers become increasingly focused on climate change and personal impact, and as corporate buyers are shifting their buying preferences to more sustainable products and suppliers, according to a new report released by global management consultancy Bain & Company. For the report,…
Northvolt Sells Battery Materials Site, Reduces Workforce in Tough EV Market
Battery manufacturer Northvolt announced today plans to scale back its workforce and exit a battery materials production site, following challenges the company is facing in ramping up its ambitious gigafactory buildout plans, and citing a “challenging macroeconomic environment.” The announcements form the initial outcomes from Northvolt’s strategic review, launched by the company in July. Founded in 2016, Stockholm, Sweden-based Northvolt…
Novata Launches ESG Data and Reporting Solutions for Private Companies
Private markets ESG-focused data solutions provider Novata announced today the launch of “Novata for Companies,” a new offering targeted at private companies with solutions for ESG data management and reporting, carbon accounting, and sustainability-related regulatory compliance. Novata is a public benefit corporation founded in 2021 by a consortium including S&P Global, the Ford Foundation, asset management firm Hamilton Lane, and…
Euronext Launches New ESG Benchmarking Tool, SME CSRD Sustainability Reporting Advisory Solution
European market infrastructure provider Euronext announced the launch of a series of new ESG investing and sustainability reporting-related tools, including a new solution enabling listed companies to benchmark their ESG performance relative to peers, and an ESG Advisory service for SMEs looking to implement the EU’s new Corporate Sustainability Reporting Directive (CSRD) disclosure requirements. The new solutions were announced as…