Retraced, a Germany-based online platform that enables apparel brands to digitize, trace, and analyze sustainability compliance and risks in their supply chains, announced Wednesday that it had raised €15 million in a Series A funding round. The round was led by Partech, one of the largest tech investment platforms in Europe, with participation from previous investors Alante Capital, Alstin Capital,…
The U.S. Environmental Protection Agency (EPA) announced the release of a proposed update to its Recommendations of Specifications, Standards and Ecolabels for Federal Purchasing, aimed at helping government purchasers and other buyers to identify environmentally sustainable products. The EPA’s Recommendations are used to help buyers identify thousands of products and services that are more sustainable, climate friendly or contain safer…
HSBC Asset Management announced the launch of the first vintage of its Global Transition Infrastructure Debt strategy, aimed at providing investors with opportunities to finance infrastructure assets facilitating the transition to net zero, in sectors such as clean power, energy efficiency and clean industry. The firm said that the new strategy is rolling out with more than $240 million in…
Google announced today an agreement with Direct Air Capture (DAC) technology company Holocene for the delivery of 100,000 tons of carbon removal credits, with the deal marking the lowest-ever price on record for DAC-based removal, at $100 per ton. DAC technology, listed by the IEA as a key carbon removal option in the transition to a net-zero energy system, extracts…
The financial services industry is standing at the edge of a pivotal transformation. Amidst economic uncertainty, political shifts, and rising regulatory pressure, one fact has become undeniable: the future of finance lies in sustainability.
Brookfield Asset Management announced today the launch of a new strategic funding partnership with low carbon electrofuels (eFuels) provider Infinium, with Brookfield committing to invest up to $1.1 billion to accelerate the company’s eFuels platform and its production of synthetic sustainable aviation fuel (eSAF). The investment will be made by Brookfield’s $15 billion decarbonization-focused Brookfield Global Transition Fund (BGTF I),…
Northern Europe-based asset manager Nordea Asset Management announced that it been awarded a $450 million sustainability-focused global equity investment mandate by the California State Teachers’ Retirement System (CalSTRS), one of the largest public pension funds in the U.S. Under the new mandate, Nordea’s Global Stars Equity Strategy to manage a portion of ClasSTRS’ Sustainability-Focused Equity portfolio. Nordea’s STARS range features…
Low carbon biofuels producer Harvestone Low Carbon Partners (HLCP)announced that it has closed a $205 million tax equity financing with Bank of America to support its North Dakota-based biofuel carbon capture and storage project, marking the first financing of its kind since the passage of the Inflation Reduction Act (IRA). Passed by the U.S. in 2022, the Inflation Reduction Act…