J.P. Morgan announced today that it has hired former National Oceanic and Atmospheric Administration (NOAA) Chief Scientist Dr. Sarah Kapnick as Global Head of Climate Advisory within the firm’s Commercial and Investment Bank. According to an internal memo seen by ESG Today, the appointment comes as J.P. Morgan views decarbonization and energy transition as major trends influencing capital formation, with…

The U.S. Department of Energy (DOE) announced that it has opened applications for funding of up to $900 million to support Gen III+ small modular reactor (SMR) technologies. According to the DOE, the new funding is aimed at spurring the deployment of advanced reactor technologies across the U.S., and encourage follow-on reactor projects, to support U.S. climate goals and meet…

The European Commission announced today that it has approved a €128 million Swedish state aid measure aimed at supporting a project by steel company SSAB to decarbonize its steel production. The new funding will support a project to transition from coal-based steel production to electric arc furnace production using fossil-free energy sources. The grant will be made available through the…

This week in ESG news: Google, Amazon turn to new nuclear technology to tackle data center carbon footprints; IFS, PwC launch sustainability reporting solution; BlackRock survey finds nearly all insurers have climate transition goals for investment portfolios; IBM acquires renewable energy asset performance management software provider; Fidelity launches new blue economy-focused fund; BNP Paribas AM raises over $300 million for…

Nuclear technology company X-Energy announced that it has raised $500 million in a Series C-1 financing round, with proceeds aimed at supporting the commercialization of the company’s small modular nuclear (SMR) reactor technology. The financing round was led by Amazon’s Climate Pledge Fund, and was announced alongside plans to use X-Energy’s reactor design to support a 320 MW project with…