Global alternative investment manager Apollo and German power producer RWE announced today the launch of a new joint venture, which will see Apollo committing €3.2 billion (USD$3.8 billion) to fund investments in expanding the transmission grid in Germany. The new JV, to be operationally controlled by RWE, will hold and fund RWE’s 25.1% stake in Amprion, one of Germany’s four…
M&G’s impact investing unit responsAbility Investments announced today that it has raised over $414 million in commitments for its Asia Climate Strategy, aimed at actively contributing to CO2 reduction in Asia through targeted investments in low-emission technologies. The latest closing for the fund included a $50 million investment from World Bank Group member the International Finance Corporation (IFC). Launched in November…
Zurich-based insurance and reinsurance company Swiss Re announced that it will no longer pursues Science Based Targets initiative (SBTi) validation for its climate targets, although the firm stated that its sustainability strategy remains unchanged – including its goal to reach net zero greenhouse gas (GHG) emissions by 2050. Swiss Re initially set a commitment to the SBTi in 2019 to…
A new collation of 14 venture capital and growth equity investment firms announced the launch of a new collaborative fund to back clean energy and decarbonization technology companies, aimed at enabling them to reach commercial scale. According to the group – the “All Aboard Coalition” – the new initiative is designed to help clean tech companies to avoid the “valley…
By Frédéric Godemel, EVP of Energy Management at Schneider Electric When you want to improve your diet, you don’t just rely on promotional packaging on food, you check the nutritional information. The real insights lie in the details: the facts and figures that tell you what you’re really consuming. The same principle should apply to sustainability. As the climate crisis…
This week in ESG news: Netflix signs 15-year forest-based carbon credit deal; Deutsche Bank retains net zero goals in new transition plan; BlackRock loses $17 billion mandate as pension fund shifts to sustainability-focused policy; ESG data M&A picks up pace with acquisitions by Position Green, One Click LCA; SBTi launches net zero standard for Power sector; Sony unveils new climate…
Australian battery energy storage systems (BESS) developer and operator Akaysha Energy announced that it has secured a A$300 million (USD$197 million) corporate debt facility. According to Akaysha Energy, the new facility will fund the development and construction of its BESS project pipeline across Australia, the U.S., Japan and Germany. Energy storage forms one of the key building blocks for the…
UK materials innovation company Xampla announced that it has raised US$14 million in a Series A investment round, with proceeds aimed at scaling its technology to replace billions of single-use plastic items with plant-based alternatives. Because plastic does not biodegrade completely in the environment, but rather breaks down into smaller fragments and pieces, single-use plastic products can accumulate and pollute…
The California Air Resources Board (CARB) announced the release of a new publication, offering clarifications and guidance for companies preparing to provide their first reports under a new regulation requiring companies to provide disclosures on climate-related risks and opportunities. The new publication, Climate Related Financial Risk Disclosures: Draft Checklist, focuses on the reporting requirements under SB 261, the “Climate-Related Financial…
The American Forest Foundation (AFF) announced that it has signed a 15-year contract with Netflix, with the entertainment giant committing to purchase verified carbon credits produced through AFF’s Afforestation, Reforestation, and Revegetation (ARR) carbon project, aimed at transitioning underused fields in the U.S. South into forests. Chartered in 1981, the American Forest Foundation is a national conservation organization, working with…