Ingka Investments, the investment arm of Ingka Group, the largest IKEA retailer, announced a growth capital injection in China-based recycler of post-consumer packaging waste Re-mall. The investment marks Ingka Investments’ first in China within its circular investment portfolio, which targets companies developing technology or capacity to prevent waste or supply recycled materials. Ingka Group launched Circular Investments in 2017, to…
Amazon Web Services (AWS) and Malaysian clean energy solutions provider Gentari announced that they have signed a new Power Purchase Agreement (PPA), supporting a new 80 MW wind power project in Tamil Nadu, India. The new wind project is anticipated to begin operations in mid-2027, and to generate approximately 300,000 MWh of renewable energy annually. Amazon set a clean energy…
Heat pump startup Aira announced today that it has raised €150 million (USD$174 million) in a new equity financing, with proceeds aimed at supporting the expansion of its operations and product portfolio to help electrify and decarbonize residential heating. Heat pumps are rapidly emerging as a key energy efficient and climate-friendly alternative to furnaces and air conditioners, producing fewer greenhouse…
Climate solutions provider Watershed announced the launch of “Cornerstone,” a new initiative in partnership with Stanford University’s Stanford Sustainable Solutions Lab, aimed at maintaining and expanding access to key datasets used by companies to measure Scope 3 value chain emissions. Under the new initiative, Cornerstone will act as the hub for open access to the US Environmentally-Extended Input-Output model (USEEIO),…
Australia-based iron ore mining company Fortescue announced that it has secured a RMB 142. Billion (USD$2 billion) Renminbi denominated (RMB) Syndicated Term Loan Facility, with proceeds to be used to support its decarbonization efforts, as well as for general corporate purposes. The RMB Syndicated Term Loan of its kind by an Australian corporate. In a statement announcing the loan, Fortescue…
EU banking supervisor The European Banking Authority (EBA) announced the publication of a no action letter, recommending that regulators not prioritize the enforcement of new ESG Pillar 3 disclosure requirements for banks, as it awaits clarity on the outcome of the European Commission’s Omnibus initiative to simplify sustainability reporting and compliance obligations. The no action letter follows the publication by…
This week in ESG news: U.S. court greenlights multi-state climate antitrust suit against BlackRock, Vanguard, State Street; UK’s FCA to simplify ESG reporting for asset managers, insurers; SHEIN fined for greenwashing; Florida launches investigation into CDP, SBTi; BBVA sees surge in sustainable finance activity; UBS leaves the Net Zero Banking Alliance; Amazon buys low carbon cement; Meta uses wood in…
Advanced materials company Lyten announced an agreement to buy most of the key assets of bankrupt EV battery company Northvolt, with plans to restart operations and to continue the expansion of battery manufacturing capacity, citing opportunities beyond electric vehicles, including providing energy solutions for data centers. The agreement, which follows previous Northvolt asset acquisitions by Lyten, include the Northvolt Ett…