Sustainability reporting software provider Novisto announced today that it has raised $27 million in a Series C financing round, with proceeds aimed at enhancing its ESG software platform and accelerating its presence across Europe to address the “huge market opportunity” to streamline and simplify sustainability reporting. Founded in 2019, Montreal-based Novisto provides sustainability data management and reporting software for global…
The fashion industry has long been in the crosshairs of sustainability-conscious consumers – and increasingly, investors – for contributing to global waste, carbon emissions and poor labour practices. Much of the scrutiny centres on fast fashion – the high-turnover, low-cost model that continues to dominate sales on the high street and online platforms. This segment, which thrives on cheap production,…
Are the golden days of ESG behind us? Promises of perennial outperformance were likely to result in disillusionment when markets turned, and turn they did. Then, of course, there is the political backlash, exemplified but not confined to the current US administration. Are we seeing a resulting reduction in sustainable funds? Sifting through the data, the answer (unhelpfully) is “that…
Energy giants Occidental and Abu Dhabi-based ADNOC announced a new agreement to evaluate the launch of a new joint venture to develop a Direct Air Capture (DAC) carbon removal facility in South Texas, with ADNOC’s investment company XRG considering investing up to $500 million for the new facility. The new proposed project would be among the largest DAC facilities to…
The UK has launched the Emerging Markets and Developing Economies (EMDE) Investor Taskforce, an industry-led initiative dedicated to unlocking private investment to tackle climate change and seize sustainable growth opportunities. It is estimated that EMDE markets could contribute approximately 65% of global economic growth by 2035, with investment in both mitigation and adaptation bringing a return of around tenfold by…
The European Commission and the government of the UK announced today an agreement to work towards linking their carbon markets through establishing a link between their emissions trading systems (ETS), which have been developing separately since Brexit. Under the envisioned linkage agreement, carbon allowances issued by the EU or UK could be recognized as complying with the greenhouse gas emissions…
Alternative asset manager Blackstone announced an agreement by Blackstone Infrastructure to acquire electric utility holding company TXNM energy, in a deal valuing the company at an enterprise value of $11.5 billion. According to the companies, the transaction will provide significant long-term capital to support the clean energy transition and power growth needs of TXNM’s key markets of New Mexico and Texas….