Defined contribution pension fund Nest has committed £200m to infrastructure investment firm IFM Investors to help scale climate solutions. The funding will be deployed through an existing mandate with IFM and will back businesses, technologies, and infrastructure projects that will benefit from a lower carbon economy and that directly contribute to climate impact. It aims to support early growth stage…
Alphabet’s Waymo to Repurpose Used EV Batteries for Grid Storage
Alphabet-owned autonomous driving technology company Waymo and energy storage developer B2U Storage Solutions announced a new partnership to repurpose retired electric vehicle (EV) batteries from Waymo’s fleet into battery energy storage systems (BESS). EV batteries are often the longest-lasting component of a vehicle, designed to operate for hundreds of thousands of miles and, in many cases, remain functional even after…
Energy Optimization Software Startup Companion.Energy Raises $9 Million
Energy optimization software startup Companion.energy announced today that it has raised €7.8 million (USD$9 million) in a seed funding round, with proceeds aimed at enhancing and expanding its platform enabling large industrial and commercial enterprises to manage energy as renewable penetration and industrial electrification advance. Founded in 2022 by Thomas Vyncke and Jonas Verstraeten, Companion.energy provides solutions aimed at providing…
TD Signs 10-Year Carbon Removal Deal with Deep Sky
Canada-based carbon removal project developer Deep Sky announced today a new 10-year carbon dioxide removal (CDR) offtake agreement with TD Bank Group, providing for the purchase of more than 18,000 CDR credits from Deep Sky’s direct air capture (DAC) facilities. The companies said that the deal will support the development of permanent carbon removal infrastructure in Canada while strengthening the…
UK Proposes Dropping TCFD-Based Climate Reporting for Investment Products
The Financial Conduct Authority (FCA), the UK’s conduct regulator for financial services firms and financial markets, announced a new proposal to drop requirements for financial firms to publish TCFD-based climate disclosures for investment products, replacing them with simplified reporting on climate risks for retail investors, and on-demand emissions data for institutional clients. The new proposals form part of the FCA’s…
ESG Today: Week in Review
This week in ESG news: Goldman Sachs raises $3 billion for energy transition, circular economy, digital and transport infrastructure fund; Brazil shifts from mandatory to voluntary sustainability reporting; UK sets 2040 GHG emissions reduction target; ISO launches transition planning standard for banks, investors; Google sets series of water sustainability goals; Nordea beats €200 billion sustainable finance target; JPMorgan backs carbon…
Ecobank Issues $450 Million Nature Bond to Back Biodiversity, Sustainable Agriculture Across Africa
Pan-African banking group Ecobank announced the launch of a $450 million Nature Bond – the world’s first ICMA-aligned Nature Bond issued by a commercial bank – with proceeds aimed at supporting farmers, sustainable agriculture businesses and water systems in markets across Africa. According to Ecobank, the bond was designed to reach sectors often underserved by traditional conservation-focused financing mechanisms, including…