Tokyo-based banking and financial services company Mizuho Bank and Temasek-owned decarbonization solutions-focused investment platform GenZero announced today a new partnership aimed at developing transition credits to help fund the acceleration of the early retirement of coal-fired power plants. Coal is by far the largest source of energy-based CO2 emissions globally, according to the International Energy Agency (IEA), accounting for 45%…

The rapid growth of artificial intelligence (AI) over the past few years has created challenges for Microsoft in achieving its “moonshot” sustainability goals, including its target to become carbon negative by 2030, with the company’s Chief Sustainability Officer Melanie Nakagawa acknowledging that “the moon has gotten further away.” In a blog post discussing Microsoft’s progress towards its 2030 targets, however,…

Cleantech startup Vema Hydrogen announced that it has raised $13 million in a Seed funding round, with proceeds aimed at supporting its efforts to produce low-cost carbon-free hydrogen. Hydrogen is viewed as one of the key building blocks of the transition to a cleaner energy future, particularly for sectors with difficult to abate emissions, in which renewable energy solutions such…

Alternative asset and private equity investor KKR announced that it has entered into a strategic partnership with German energy service provider EGC, aimed at driving decarbonization in the real estate sector. Buildings are a key source of global greenhouse gas (GHG) emissions, and also one of the hardest to replace, given their long-term nature. According to the European Commission, buildings…

Decarbonization-focused consultancy and carbon project developer and solutions provider South Pole announced the appointment of Dara Olufon as Co-Head of its Global Climate Advisory arm. Olufon will begin serving in his new role in March, alongside climate advisory co-lead Franziska Sinner. Olufon joins South Pole after ten years at McKinsey’s UK office, most recently serving as a partner in the…

Sustainable building materials startup Terra CO2 announced that it has raised $82 million in commitments in a Series B financing round, with proceeds aimed at accelerating the commercial deployment of its low carbon cement solution. Building materials are a key source of global greenhouse gas emissions. Cement production, an ingredient in concrete, accounts for approximately 8% of global carbon dioxide…

HSBC revealed today a series of major changes to its climate goals, including a decision to push back its 2030 target to achieve net zero emissions in its operations and supply chain by 20 years, citing the “slower pace of the transition across the real economy,” in areas including climate technology, energy transition, and government policy. The bank also announced…