The Bank of England (BoE) announced today the release of “Supervisory statement (SS) 4/25 – Enhancing banks’ and insurers’ approaches to managing climate-related risks,” its finalized new policy with stronger expectations for banks’ and insurers’ management of climate-related risks, across areas ranging from board and management accountability, climate risk integration, and climate-related data quality. The new policy replaces the BoE’s…
Crédit Agricole CIB, the corporate and investment banking arm of Crédit Agricole Group, and the European Investment Bank (EIB) announced the launch of a new strategic agreement aimed at supporting wind energy development in Europe through the mobilization of up to €8 billion of capital for in investments in the sector. Under the new joint initiative, the EIB will provide…
The Partnership for Carbon Accounting Financials (PCAF) announced the launch of its updated Global Greenhouse Gas Accounting and Reporting Standard for the Financial Industry, a new standard aimed at enabling a broad range of financial institutions including banks, asset managers and insurance companies to measure and report GHG emissions related to their financial activities. PCAF is a global partnership of…
Future Energy Ventures, a venture capital firm investing in digital and asset-light tech, announced that it has raised €235 million (USD$274 million) for its second fund, which will invest in energy tech startups at the Series A and B stage. Founded in 2016, Future Energy Ventures backs technologies supporting the transition to renewable energy. Its portfolio includes agricultural photovoltaics startup…
By Dexter Galvin, Climate Ambassador at EcoVadis At COP30 in Belém, Brazil, the conversation around climate action entered a more demanding phase. This year’s summit was not just about setting new targets, but proving that existing commitments are credible and that the systems to deliver them are in place. With adaptation and resilience at the forefront, governments and businesses alike…
Brookfield Asset Management announced its first renewable energy investments in the Philippines, Vietnam and Thailand, including the acquisition of Independent Power Producer (IPP) Alba Renewables, aimed at creating a decarbonization platform for the company in Southeast Asia. Founded in 2023, Singapore-based Alba Renewables was established to develop, construct, operate, manage, and commercialize renewable energy projects across Asia Pacific, with an…