Alliance flags challenges around metrics and data quality in consultation aimed at spurring development of ‘transition-informed’ indexes. A lack of timely, robust, consistent and high-quality data may hamper efforts to create credible net zero-aligned indexes, according to a consultation document from the Glasgow Financial Alliance for Net Zero (GFANZ). The body responsible for overseeing the largest coalition of financial institutions…
ICE Launches Climate Transition Risk Solution for Municipal Bond, MBS, Real Estate Segments
Financial technology and data services provider and exchange operator Intercontinental Exchange (ICE), announced the launch of a new climate transition risk solution targeted at underserved segments of fixed income including municipals, securitized mortgage-backed securities (MBS) and real estate. According to ICE, the new solution will provide emissions estimates and portfolio analytics across various fixed income asset classes, covering Scope 1,…
REsurety Raises $32 Million to Launch New Clean Energy Marketplace
REsurety, which provides software and services to clients seeking to reduce their carbon footprint, announced the launch of CleanTrade, a new marketplace aimed at enabling the purchase and sale of clean energy contracts, virtual power plant agreements, and other products, services and assets, via a single trading platform. The new marketplace will be funded by the company’s recent $32 million…
IBM Acquires AI-Powered Renewables Asset Performance Management Software Provider Prescinto
IBM announced today the acquisition of renewables-focused asset performance management (APM) software provider Prescinto, in a move described by the company as aimed at furthering its leadership in the energy and utility space, as the industry seeks solutions to manage and optimize wind, solar, and other renewable energy storage assets. Founded in 2016, India-based Prescinto provides software products to improve…
BNP Paribas AM Raises $305 Million for Energy and Digital Transition Infrastructure Debt Fund
BNP Paribas Asset Management (BNPP AM) announced that it has raised €280 million (USD$305 million) at the first close of BNP Paribas European Junior Infrastructure Debt Fund II, aimed at supporting energy transition, green mobility and digital infrastructure projects. Classified as Article 8 under the EU Sustainable Finance Disclosure Regulation (SFDR), the fund invests in non-investment grade infrastructure debt, targeting…
Google Signs First Nuclear Energy Deal to Address Growing AI Carbon Footprint
Google announced today an agreement with nuclear technology company Kairos Power aimed at deploying a fleet of small advanced nuclear power projects across the U.S. to provide up to 500 MW of carbon-free energy, and helping the technology giant to meet its climate and clean energy goals, as its growing data center footprint consumes increasing amounts of electricity and produces…
Digital Media Decarbonization Platform Scope3 Raises $25 Million to Tackle Climate Impact of AI
Digital media-focused sustainability platform Scope 3 announced that it has raised $25 million, with proceeds aimed at enabling the company to expand its focus to help tackle the climate impact of the AI industry. Founded in 2021, Scope3 has focused on decarbonizing media and advertising, providing solutions for participants in the advertising ecosystem to visualize, measure, and reduce their carbon…
Diagram Raises $80 Million for Climate Tech Venture Builder Fund
Venture builder and investor Diagram announced that it has raised $80 million for its ClimateTech Fund, exceeding its $60 million target for the environmental solutions innovations-focused fund. Backed by alternative asset manager Sagard, Montreal, Quebec-based Diagram conceives and launches technology companies across sectors including financial services, insurance, and health industries, supporting entrepreneurs with a proven track record or domain expertise…
JPMorgan, Capital One Provide $260 Million Tax Equity Financing for BrightNight Solar Project in Arizona
Renewable power company BrightNight announced today that it has closed a $260 million tax-equity financing, provided by J.P. Morgan, through one of its affiliates, and Capital One, for its 300 MW Box Canyon solar project in Arizona. Tax equity financing is emerging as a key source of funding for new clean energy and decarbonization projects in the U.S., since the…