LGIM, Amundi and Nordea are asking the Japanese steel giant to set stricter targets and disclose its climate lobbying activities. A group of investors has filed resolutions calling on Japanese steelmaker Nippon to overhaul its decarbonisation strategy, challenging the assumption that carbon capture, use and storage (CCUS) can clean up this notoriously dirty industry. British asset manager Legal & General…
Grid Stability Solutions Provider Reactive Technologies Raises $31 Million
Grid stability solutions provider Reactive Technologies announced today that it has raised £25 million (US$31.4 million) in a Series D funding round, with proceeds aimed at supporting the company’s global expansion. Founded in 2010, UK and Finland-based Reactive Technologies provides grid resilience technology aimed at helping grid operators, utilities, and regulators transition to net zero and ensuring resilient and renewable…
Biotech Startup Cellugy Raises $5 Million to Replace Fossil-Based Ingredients in Personal Care Products
Industrial biotech startup Cellugy announced today that it has raised €4.9 million (USD$5.3 million) in seed funding, with proceeds aimed at scaling up the production of its bio-based solution to replace fossil-based ingredients in personal care products. Founded in 2018, Denmark-based Cellugy provides fully bio-based and biodegradable alternatives to carbon-intensive petrochemicals. The company’s platform leverages cellulose-producing microorganisms to produce high-purity,…
Climate-Focused VC ETF Partners Raises $310 Million for Sustainability Solutions Venture Fund
European sustainable venture capital firm ETF Partners announced today that it has raised €285 million (USD$310 million) at the completion of fundraising for its fourth fund. Founded in 2006, London, England-based ETF Partners invests in technology companies, supporting entrepreneurs and innovations addressing the global challenges presented by the climate crisis and enabling significant environmental impact. The fund was oversubscribed, surpassing…
Google to Recover Heat from Data Center and Distribute to Local Heating Network
Google announced today a new partnership with energy provider Haminan Energia to recover heat from its data center in Hamina, Finland, and to provide it to the local heating network. Data centers globally are responsible a growing share of climate impact, already reaching up to 2% of the world’s carbon emissions, nearly equivalent to that of the airline industry, as…
BNP Paribas Launches New Paris-Aligned Climate ETF
BNP Paribas Asset Management (BNPP AM) announced today the launch of the BNP Paribas Easy MSCI ACWI SRI S-Series PAB 5% Capped UCITS ETF, a new exchange traded fund aimed at providing investors with developed and emerging markets exposure to companies with high ESG standards and with low and improving greenhouse gas emissions. Launched as a sub-fund of the asset…
Majority of Lawyers Expect SEC’s Climate Disclosure Rule Will Not Survive Intact: Bloomberg Survey
A significant majority of attorneys expect that the U.S. Securities and Exchange Commission’s (SEC) new climate-related disclosure rule will not survive its legal challenges in its current form, with most expecting the rule to only partially remain intact, or to be overturned entirely, according to a new survey by Bloomberg Law. The study, Bloomberg Law’s State of Practice survey, includes…
EU Adopts New Rules to Decarbonize Gas, Build Hydrogen Market
The European Council announced today the adoption of a new regulatory package establishing common market rules for renewable gas, natural gas and hydrogen, aimed at advancing Europe’s shift to renewable and low carbon gases and shifting away from fossil fuels, as well as supporting the EU’s decarbonization goals. The announcement by the EU Council marks the last major step towards…
Private capital’s critical role in the sustainability transition
In a Q&A with VitalBriefing, Nicoletta Centofanti says that private capital committed to sustainability principles continues to have a critical role to play in financing the decarbonisation transition as well as in addressing other environmental and social impact issues. The post Private capital’s critical role in the sustainability transition appeared first on VitalBriefing.