Lloyds Bank Business and Commercial unit announced the launch of a new center of excellence for Voluntary Carbon and Nature Markets (VCNM), aimed at guiding the bank’s clients through the evolving carbon and nature markets landscape. Based in London, the new unit will form part of Lloyd’s Sustainability & Client Advisory division. Launched in 2021, the division was formed to…
Goldman Sachs Acquires Liquid Waste Solutions Provider LES
Goldman Sachs Alternatives announced an agreement by its infrastructure team to acquire non-hazardous liquid waste management services provider Liquid Environmental Solutions (LES), from Boston-based investor Audax Private Equity. Founded in 2002, Texas-based LES manages non-hazardous liquid waste for clients across sectors including restaurant, grocery chain, hospitality, education, and environmental services across the U.S. The company collects, treats, and recovers materials…
Meta Buys 100% of Renewable Energy from New $900 Million Solar Project to Power U.S. Data Centers
Facebook, Instagram, and WhatsApp owner Meta and Alberta-based energy company Enbridge announced a new long-term contract with Enbridge supplying Meta with 100% of the renewable energy generated from a new 600 MW solar facility in Texas to power the tech company’s data center operations. The new project, Clear Fork, will be a utility scale solar facility located near San Antonio. Enbridge…
JPMorgan, Microsoft Back New Financing Model to Scale Nature-Based Carbon Removal Projects
Nature-based carbon removal startup Chestnut Carbon announced that it has secured a new $210 million project finance credit facility, led by J.P. Morgan and backed by a massive forest-focused carbon removal offtake agreement recently signed with tech giant Microsoft. The agreement marks the first financing of its kind for a U.S. voluntary carbon removal afforestation project, with Chestnut, Microsoft and…