The Net-Zero Banking Alliance (NZBA) announced that it will cease operations, ending the activities of the UN-backed banking sector coalition dedicated to advancing global net zero goals through their financing activities. The decision was made following a series of high-profile departures from the coalition, leading to a vote by its member banks to significantly restructure the initiative from a membership-based…

The Global Cement and Concrete Association (GCCA) announced the launch of a new membership category aimed at strengthening collaboration across the building and construction value chain to accelerate the industry’s net zero ambitions. The association said that decarbonizing cement and concrete, the second most-used material on the planet after water, cannot be achieved without active engagement from the wider building…

Amazon announced it has signed a Power Purchase Agreement (PPA) with U.S. energy company Avangrid, which is part of the Iberdrola Group, to purchase electricity from a new solar project in Oregon.  Avangrid has a long-standing presence in Oregon, dating back to its first project in 2001. Today, the company operates 2.5 GW of energy capacity across the state and…

Enhanced rock weathering (ERW)-focused carbon removal project developer UNDO announced that it has signed a new agreement with UK-based bank Barclays, to permanently remove more than 6,500 tonnes of CO2 from the atmosphere using an accelerated process using rocks and soil. The new deal marks Barclays’ first-ever carbon removal agreement, coming after the bank recently revealed that it has reduced…

The majority of EU-based businesses support retaining more substantial and broadly applied sustainability reporting and due diligence rules than envisioned under the European Commission’s Omnibus simplification proposals, including a lower threshold for companies covered by the regulations and mandatory transition plans, according to a new survey published by climate think tank E3G, and conducted by global research data and analytics…

Global investment manager Nuveen announced the acquisition of a majority stake in US-based commercial and industrial (C&I) energy solutions provider Ally Energy Solutions. The acquisition was made by Nuveen’s Private Equity Impact team, through the Nuveen Climate Inclusion Fund II (NCIF II). Nuveen’s Climate Inclusion strategy aims to address climate change and inequality by investing in businesses that drive an…