With adaptation finance flows remaining dangerously low to meet climate goals, has COP28 made a difference? Last week at COP28, the Institutional Investors Group on Climate Change (IIGCC), the United Nations Environment Private Finance Initiative (UNEP FI) and others, co-coordinated an offer to governments, from the private finance sector, to enhance the enabling environment to accelerate the mobilisation of private…
COP28 Ends with Agreement to Transition Away from Fossil Fuels
Following a marathon overnight negotiating session, a final agreement was approved at the UN’s COP28 climate conference in Dubai, which for the first time ever called for a global transition away from fossil fuels. While falling short of the ambition of some countries and environmental organizations to introduce a time-bound requirement to “phase out” fossil fuels, the negotiations, brokered by…
TotalEnergies Announces a Series of Startup Acquisitions to Boost Electricity Business
France-based energy giant TotalEnergies announced a series of acquisitions of startups aimed at accelerating the development of its electricity business, and supporting its ambition to achieve net zero by 2050. Each of the companies participated in TotalEnergies’ On accelerator program, aimed at supporting the development of new companies in the electricity and renewable energy sector, and targeting companies that offer…
Microsoft Signs Carbon Removal Deal with Startup Inherit Carbon Solutions
Microsoft announced today that it has signed a carbon removal deal with Inherit Carbon Solutions, a startup that captures and permanently stores CO2 released from production of renewable natural gas (RNG). RNG, or biomethane, is produced from organic waste, such as agricultural, industrial, and household wastes, and is chemically identical to fossil-based natural gas, enabling it to support the decarbonization…
Australia Releases Anti-Greenwashing Guidance for Companies
Australia’s competition regulator the Australian Competition and Consumer Commission (ACCC) announced today the release of its final guidance on environmental claims, aimed at helping companies comply with rules to avoid misleading green marketing and advertising green claims, and protecting consumers from greenwashing. The new guidance follows the publication of a study by ACCC earlier this year that found that 57% of companies…
BlackRock Predicts Low Carbon Transition “Mega Force” will Drive Major Investment Opportunities in 2024
Investment giant BlackRock announced today the release of its 2024 Private Markets Outlook, identifying the low-carbon transition as one of a few key “mega forces” that it expects to drive “major investment opportunities” over the next year, and calling out specific infrastructure-related areas including clean energy and electrification. In its report, BlackRock highlights the “massive reallocation of capital” expected to…
UK Regulator Launches Investigation into Unilever over Green Claims
The UK’s Competition and Markets Authority (CMA) announced today that it has formally launched an investigation into Unilever, examining the global consumer brand giant’s green claims, after an initial review revealed “a range of concerning practices” that the company may be overstating the environmental attributes of some its products. In a statement today from a Unilever spokesperson, the company said…