Tech Giants Google, Meta, Microsoft, and Salesforce announced today the launch of the Symbiosis Coalition, a new advance market commitment (AMC) collaboration aimed at supporting the development and growth of the nature-based carbon removal market, with a collective commitment to contract up to 20 million tons of nature-based carbon removal credits. According to the companies, the coalition aims to send…
The vast majority of companies view sustainability as a value creation opportunity, with more than three quarters anticipating potential benefits ranging from higher revenues and profitability to lower cost of capital, although many also expect increased sustainability-related costs and a need for significant investment, according to a new survey released by Morgan Stanley. For the study, “Sustainable Signals: Understanding Corporates’…
On 16 May 2024, the UK Government published an implementation update on its development of economy-wide sustainability disclosure requirements (the “Implementation Update“). The Implementation Update, which the UK Government committed to publishing in its 2023 Green Finance Strategy (which you can read more about here), discusses: its endorsement of the IFRS Sustainability Disclosure Standards; transition plan disclosures; the Financial Conduct…
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…
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,…
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 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 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…