General Motors and circular economy-focused battery materials provide Redwood Materials announced the launch of a new agreement, aimed at accelerating the deployment of energy storage systems based on both second-life battery packs from GM electric vehicles and new batteries produced by GM. Energy storage forms one of the key building blocks for the rapidly expanding clean energy transition, given the…
Microsoft and waste management solutions startup Vaulted Deep announced today a new long-term offtake agreement, with Vaulted Deep delivering up to 4.9 million tonnes of durable carbon dioxide removal over 12 years through its process of storing organic waste deep underground, marking one of the largest-ever carbon removal deals globally to date. Spun out of injection well-focused waste management company…
The vast majority of large U.S. companies are maintaining or even increasing investments in ESG initiatives, as most executives view sustainability as a driver of competitive advantage and growth, but many are talking less about it publicly in the face of growing political and regulatory scrutiny, according to a new survey released by business sustainability ratings and solutions provider EcoVadis….
Apple has announced a $500 million multi-year agreement with MP Materials, a fully integrated US-based rare earth producer, to buy domestic rare earth magnets developed at MP Material’s flagship facility in Texas. The deal will also see the two companies launch a new rare earth recycling line in Mountain Pass, California, and develop novel magnet materials and processing technologies to…
Clean fuel tech startup Amogy announced that it has raised an additional $23 million in venture financing, expanding its funding round announced earlier this year to $80 million. Founded in 2020, Brooklyn, New York-based Amogy offers ammonia-based, emission-free, high energy-density power solutions aimed at decarbonizing hard-to-abate sectors such as heavy-duty transportation, maritime, power generation, and heavy industry. The company’s technology…
Energy and electrification advisory, services, and software solutions provider Schneider Electric announced today the launch of Zeigo Hub, a new digital platform aimed at helping companies to decarbonize their supply chains, with capabilities to engage with suppliers, build customized decarbonization programs, set targets, and track progress individually by supplier. Key features of the new platform include guided onboarding of suppliers…
Global energy and electricity provider Iberdrola announced a series of new sustainable finance transactions, raising €6.6 billion (USD$7.7 billion), including €4.1 billion of green financing for the construction of the UK’s East Anglia THREE, one of the largest offshore windfarms in the world, and a new €2.5 billion sustainability-linked credit line with an international consortium of banks. The new transactions…
Banks in the EU have made “significant strides” in addressing and managing climate and nature-related risks, according to European Central Bank (ECB) Executive Board Member and Supervisory Board Vice-Chair Frank Elderson, with major increases in advanced practices in place to identify, monitor these risks made by banks in just the past few years. While noting the progress, however, Elderson also…
EU Ombudsman Teresa Anjinho announced that she has asked the European Commission to provide explanations regarding its failure to follow a series of procedural steps to launch its “Omnibus” initiative to simplify and reduce corporate sustainability reporting and due diligence requirements. The information request, sent in a letter to EU Commission President Ursula von der Leyen, forms the next step…