Why ESG is a Strategic Imperative for Business Success In the vanguard of corporate responsibility and sustainability, Environmental, Social, and Governance (ESG) stands out as a key differentiator for businesses. The concept, once a buzzword, has now cemented itself as a strategic cornerstone, encapsulating a company’s approach to managing its operations and strategies responsibly. ESG is not merely about…
Pattern Energy Closes $11 Billion Financing for Massive U.S. Clean Energy Project
Renewable energy infrastructure developer and operator Pattern Energy announced today that it has secured $11 billion in financing, consisting of a $8.8 billion in green loans and a $2.25 billion tax equity term loan facility, and that it has initiated construction on the SunZia Wind and Transmission projects, which the company described as “the largest clean energy infrastructure project in…
Canada Finalizes Regulation Requiring 100% Zero Emission New Car Vehicle Sales by 2035
The government of Canada announced the publication of its completed new standard on the availability of electric vehicles, mandating annual increases in the proportion of sales of new zero emissions light duty vehicles, including passenger cars, SUVs, and light trucks, with a target to reach 100% zero emissions vehicle (ZEV) sales by 2035. The new standard was initially announced in…
Biden Administration Proposes Strict Requirements to Qualify for Clean Hydrogen Tax Credit
The U.S. Treasury Department and Internal Revenue Service (IRS) announced the release of proposed new rules for hydrogen producers to qualify for clean hydrogen tax credits, a key subsidy aimed at scaling the clean hydrogen industry in order to decarbonize major emissions-intensive sectors. The proposed rules include stringent qualification conditions aimed at minimizing the lifecycle emissions of clean hydrogen production,…
LyondellBasell Signs Long-term Deals for 175 MW of Renewable Energy in U.S.
Plastics, chemicals, and refining company LyondellBasell signed two new Power Purchase Agreements (PPA) in the U.S. with providers TotalEnergies and Industrial Sun, adding 175 MW of solar power to its procured renewable energy portfolio. According to LyondellBasell, the agreement will bring the company to 89% of its goal to procure at least 50% of electricity from renewable sources by 2030….
EU, UK Announce Agreement to Delay Tariffs on Electric Vehicles
The UK government and European Council announced today an agreement to extend their current rules on electric vehicles (EVs) until the end of 2026, pushing back the application of tougher rules of origin for EVs and batteries by three years, in a move aimed at saving manufacturers and consumers billions in costs, and enabling more time to scale up European…
Iberdrola Signs €5.3 Billion Credit Line with Rates Tied to Climate, Diversity Goals
Global energy and electricity provider Iberdrola announced today that it has signed a €5.3 billion credit line, its largest ever, with conditions linked to the company’s performance towards its climate and social goals. Under the new sustainability-linked facility, signed with 33 international banks, rates on the credit line can be adjusted up or down annually based on Iberdrola’s delivery on…