Brookfield Asset Management announced today that it has raised $2.4 billion for its Catalytic Transition Fund (CTF), aimed at driving clean energy investments in underserved emerging economies, only three months after the fund’s official launch in June 2024. Initially unveiled in December 2023 at the COP28 climate conference in Dubai, with a $1 billion anchor commitment from newly launched UAE-backed…
HVAC and climate control solutions company Trane Technologies announced today a new commitment to reduce embodied carbon – greenhouse gas emissions associated with a product’s lifecycle, including the extraction of raw materials, manufacturing, transportation and recycling of materials and products – by 40% by 2030. As part of its efforts to target its embodied carbon, Trane said that it will…
HSBC Asset Management and climate change investment and advisory firm Pollination joint venture Climate Asset Management announced that it has raised over $1 billion for natural capital projects with the final close of its Natural Capital and Nature Based Carbon Funds, alongside its Restore Fund with tech giant Apple. Climate Asset Management was launched by HSBC AM and Pollination in 2020,…
Business and financial markets information service provider giant Bloomberg announced a series of enhancements to its suite of climate solutions, aimed at enabling users to evaluate companies’ climate emissions targets, including progress credibility and revenue impact, and to align portfolios with net zero investment goals. According to Bloomberg, the updated suite aims to help investors to assess a range of…
Microsoft and Constellation Energy announced a new power purchase agreement enabling the restart of the Three Mile Island Unit 1 nuclear reactor in Pennsylvania, adding approximately 835 MW of carbon-free energy to the 13-state PJM grid. Under the new 20-year agreement, Microsoft will purchase energy from the renewed plant to help match the power its data centers in PJM with…
Hey everyone! Luke (CCO) here writing about New York Climate Week! New York City’s annual Climate Week has emerged as a pivotal platform for global climate action. Launched in 2009, this event brings together leaders from around the world to discuss and accelerate climate solutions. Held during the United Nations General Assembly, Climate Week offers a unique opportunity for policymakers, businesses,…
Demand growth for green workforce skills is outpacing the increase in supply, as companies and countries globally begin to take action on implementing their climate and sustainability-related commitments, with current trends indicating that there will be more than twice as many jobs requiring green skills as there will be qualified workers available to fill those roles, according to new research…
The UK Chancellor’s recent announcement of stricter regulations for ESG rating agencies marks a significant development in the corporate landscape. This follows the EU’s recent adoption of “Regulation on the Transparency and Integrity of Environmental, Social and Governance (ESG) Rating Activities” or “ESGR”. Both the UK and EU hope this will increase the consistency and transparency of ESG ratings. The…
This week in ESG news: ING ends financing for companies developing new oil and gas projects; Deloitte launches sustainability and AI workforce upskilling academies; MSCI launches carbon credit ratings; report finds companies are quietly accelerating climate action; Apple reduces carbon footprint of iPhone; investor coalition calls for mandatory climate reporting policies; Google, Microsoft, Meta announce carbon removal purchase deals; BlackRock…