The European Investment Bank (EIB) and Paris-based financial services group Societe Generale announced the launch of a new clean energy financing initiative, aimed at unlocking as €8 billion in investments to support manufacturers across the wind energy supply chain in Europe. The initiative includes a €500 million EIB counter-guarantee that Societe Generale will use to create a portfolio of bank…
Clean fuel tech startup Amogy announced that it raised $56 million in venture financing for solutions aimed at decarbonizing transportation, heavy industry and other sectors. With this latest financing, Amogy said that it will accelerate commercializing its technology in maritime shipping and stationary power generation, and continue strengthening its research and development efforts and manufacturing capabilities. Founded in 2020, Brooklyn,…
Google announced that is has signed the largest-ever biochar-based carbon removal agreements, with two new 100,000 tonne deals to buy carbon removal credits from India-based Varaha and California-based Charm Industrial, for a total of 200,000 tonnes by 2030. Biochar, or biological charcoal, is produced by heating biomass, such as forest residue, wood or crop waste, in the absence of oxygen,…
World Bank Group member the International Finance Corporation (IFC) announced today that it has raised $2 billion in a new social bond offering, with proceeds aimed at funding projects supporting low-income communities in emerging markets. The offering was more than 5x oversubscribed, with an order book reaching $11 billion, the largest-ever for a single bond issuance by IFC, enabling the…
Snacking, food, and pet care products provider Mars announced today the appointment of Alastair Child as its new Chief Sustainability Officer. Child takes on the new role after more than 23 years at Mars, including most recently serving as Vice President of Global Sustainability, Mars Snacking, leading the business’ strategy to embed sustainability. Andy Pharoah, VP Corporate Affairs & Sustainability…
London-based carbon credit ratings startup BeZero Carbon said it had raised $32 million, with proceeds aimed at enabling the company to expand into new markets, and to grow its capabilities and its team. Founded in 2020, BeZero is a ratings agency for carbon markets, providing carbon ratings, research and data products, backed by a team of climate scientists, earth observation…
Ingka Investments, the investments arm of Ingka Group, the largest IKEA retailer representing 90% of IKEA sales, announced plans to invest €1 billion in companies enabling growth in recycling infrastructure. According to Ingka Group, the new initiative is aimed at supporting the transition to a circular economy, with the company noting that the global economy consumes 75% more natural resources…
Energy and automation digital solutions provider Schneider Electric and the Partnership for Carbon Accounting Financials (PCAF) announced today a new partnership, with Schneider Electric becoming the first global sustainability consultants to join the PCAF accredited partnership program, aimed at supporting banks and investors to measure and report financed emissions. The PCAF is a global partnership of financial institutions, launched globally…