Canadian climate-focused investor initiative Business Future Pathways (BFP) announced the release of a new draft of the methodology underlying the development of Canada’s Sustainable Finance Taxonomy, its upcoming categorization system aimed at helping investors to identify sustainable investments, and to drive capital into business and projects that reduce emissions in line with Canada’s net zero goals. While including the “green”…
Sustainable finance-focused ratings and research provider EthiFinance and sustainability data and technology company ESG Book announced a merger transaction aimed at creating one of Europe’s largest, independent credit and sustainability rating agencies. The companies said that the new entity will provide a European rating “champion,” offering an alternative to U.S.-based incumbents, and fill a sustainable data gap in private markets,…
Aerospace giant Airbus and aircraft engine manufacturer MTU Aero Engines announced the launch of a new joint venture focused on the development and commercialization of the first hydrogen-based fuel cell propulsion system for commercial aircraft. The aviation industry accounts for approximately 2-3% of global greenhouse gas (GHG) emissions, with that figure potentially rising dramatically over the coming decades if no…
French energy giant TotalEnergies announced today that it has divested its distributed solar generation activities in Europe, selling all of its distributed solar assets in 7 countries to renewable energy companies Amarenco and AMPYR Distributed Energy. In a statement announcing the sale, TotalEnergies said that the transactions will enable it to refocus its renewable development on large utility-scale solar and…
Guest post by: Bridget Wise, Sustainability Analyst, Secaro Although the SBTi’s V2.0 standard is more complicated than its predecessor, it is this complexity, the guardrails of integrity criteria – which allow for a more practical and flexible approach. And, as many companies struggled to meet goals under the V.1 standard despite best efforts, it was critical for the SBTi to…
Geothermal energy technology company Quaise Energy announced that it has raised $134 million at the first close of a Series B funding round, with proceeds aimed at supporting the development of the world’s first commercial superhot geothermal power plant. Founded in 2018 as a spinout from the Massachusetts Institute of Technology, Cambridge-based Quaise develops solutions aimed at harnessing superhot geothermal…
TenneT Germany, the largest electricity transmission system operator in Germany, announced that it has raised €3.5 billion in its inaugural green bond offering, marking the largest corporate issuance to date under the EU’s European Green Bond (EuGB) standard. TenneT noted strong demand for the offering, with the issuance more than 6x oversubscribed. The issuance included four tranches, with maturities of…
Energy transition-focused investor Quinbrook Infrastructure Partners announced today the final close of its Quinbrook Renewables Impact Fund II (QRIF II), raising £587 million (USD$784 million) in commitments for the UK-focused renewables infrastructure strategy, well ahead of the fund’s £500 million target. According to Quinbrook, QRIF II targets investments in renewable energy and storage that advance decarbonization, improve security of energy…
Singapore-based nature-based solutions project developer Thryve.Earth announced that it has signed a series of long-term offtake deals with Google, McKinsey and Tencent to remove more than 635,000 tonnes of carbon through a new agroforestry project restoring 6,000 hectares of degraded land in Indonesia. The agreements mark the largest carbon removal commitment to date for Google, and Tencent’s first nature-based offtake…