President Trump has joined the Republican attack on proxy advisory firms Glass Lewis and Institutional Shareholder Services (ISS) over their positions on ESG and DEI, issuing a new executive order directing several U.S. federal agencies to increase oversight of the firms, and to investigate them for violating antitrust, unfair competition and deceptive practices laws. In the order, Trump notes that…
Munich Re, one of Europe’s largest insurance companies, and the world’s biggest reinsurer, announced the launch of a series of new greenhouse gas (GHG) emissions reduction targets for its insurance and investment portfolios, in addition to goals to increase its investments in climate solutions and to engage with high-emitting companies in its investment portfolio. The new targets, forming part Munich…
Sustainability software provider osapiens announced today the acquisition of Berlin-based agentic AI-focused risk management solutions startup Lucent AI. According to osapiens, the transaction is aimed at expanding its expertise in the areas of financial risk management, compliance automation, and AI-based decision support. Founded in 2018, Mannheim, Germany-based osapiens provides cloud-based software solutions aimed at enabling organizations to automate complex compliance…
The IFRS Foundation’s International Sustainability Standards Board (ISSB) announced today a series of amendments to the greenhouse gas (GHG) emissions disclosure requirements under its IFRS S2 climate-related reporting standard, with some of the most significant changes aimed at easing and clarifying requirements for financial firms’ disclosures about the climate impact of their financing activities. According to the ISSB, the reliefs…
Nearly all companies and the vast majority of institutional investors see growth and commercial opportunities from the climate transition, with views on sustainability-related investments and initiatives increasingly driven by financial and strategic considerations, according to a new survey released by HSBC. For the report, HSBC commissioned FTI consulting to conduct two surveys, which collected responses from more than 1,650 senior…
Paris-based asset manager Eiffel Investment Group announced that it has raised €1.2 billion (USD$1.4 billion) for the third vintage of its energy transition infrastructure debt strategy, Eiffel Energy Transition III, closing at the fund’s hard cap and significantly surpassing its initial €1 billion target. Eiffel’s Energy Transition funds aim to provide short-term, flexible debt to green energy assets, helping bridge…
Marine carbon dioxide removal provider Ebb Carbon announced a new offtake agreement with Google, targeting the removal of 3,500 tons of CO2 from the atmosphere to be generated from the application of Ebb’s electromechanical water technology solution at a desalination project in Saudi Arabia. Founded in 2021 by former Tesla, SolarCity, and Google X executives, Ebb Carbon provides a solution…
Geothermal energy project developer Fervo Energy announced that it has raised $462 million aimed at supporting the development of its large-scale project in Utah and other new carbon-free energy projects, with the new Series E funding round adding Google as a new investor, and Bill Gates-backed Breakthrough Energy Ventures as a returning investor. Founded in 2017, Houston Texas-based Fervo Energy…
India-based industrial conglomerate Aditya Birla Group’s announced today the acquisition by BlackRock’s infrastructure investment unit Global Infrastructure Partners (GIP) of a minority stake in its clean energy solutions subsidiary Aditya Birla Renewables (ABREN) for INR 20 billion (USD$225 million), in a deal valuing the company at an enterprise value of approximately $1.6 billion. The deal also includes an option for…