Africa-focused climate technology venture capital firm Catalyst Fund announced the launch of Catalyst Climate Resilience Fund I, raising $30 million at the fund’s second close to invest in early-stage climate technology startups. Launched in 2016, Nairobi-based Catalyst Fund is an early-stage venture capital fund and venture builder that invests in climate resilience and adaptation startups across Africa. The firm invests…
The European Central Bank (ECB) revealed that it has started the application of a new “climate factor” in its collateral framework, enabling the central bank to adjust the assigned value of assets pledged by banks as collateral for loans based on their exposure to climate transition risks. The rollout follows announced plans for the climate factor by the ECB last…
Global private equity and credit investment firm Permira announced a strategic investment through its Energy Transition strategy in engineering, architecture, environment and sustainability-focused consulting firm Quadrante. Founded in 1998, Lisbon-based Quadrante provides asset-light engineering services across three core segments, including Energy, including renewables development, transmission and distribution; Sustainable Cities, spanning data centers, water utilities and waste infrastructure; and Mobility, covering…
Industrial technology company 3M has appointed Amanda Yates as its new Chief Sustainability Officer, succeeding outgoing CSO Gayle Schueller, who has announced her retirement from the company. Yates takes on her new role at 3M after more than 13 years at the company, serving in a series of senior positions, including most recently as Senior Director of Global Sustainability, with…
Lawmakers in the European Parliament’s Environment Committee (ENVI) adopted a position supporting a European Commission proposal to help avoid a shift in production away from EU manufacturers to those in countries with weaker climate policies by expanding the Carbon Border Adjustment Mechanism (CBAM), the EU’s carbon tax on imported goods, to a series of downstream products. While largely supporting the…
Renewable and circular polymer materials provider Avantium announced the spin-out of its electrochemical platform, Volta Technology, focused on converting CO2 into raw materials, into a new, independent company named Carbeau. At launch, Carbeau has raised €35.2 million (USD$40.1 million) in total funding, including €23.7 (USD$27 million) in cash from external investors and an €11.5 million (USD$13.1 million) in-kind contribution (non-cash)…
German fusion technology startup Proxima Fusion announced that it has raised €411 million (USD$468 million) in a new funding round, marking the largest-ever private investment in European fusion, with strategic investors including Google and RWE. According to Proxima CEO Francesco Sciortino, the funding round comes as Europe is competing with the U.S. and China to be the first to achieve…