Kari McCormick, Partner at Eversheds Sutherland, considers whether green hushing could shrink the universe for ESG investors. The last few years has seen an explosion of investments being labelled green or sustainable. Many large companies announced ambitious net zero targets and the contribution they will make to becoming a net zero economy. But as these moves come under greater scrutiny and…
KKR Launches $3 Billion Takeover Offer for German Renewable Energy Platform Encavis
Alternative asset and private equity investor KKR announced that it will launch a takeover offer to acquire German renewable energy platform Encavis in a transaction valuing the equity of the company at €2.8 billion (USD$3 billion), in a move aimed at supporting the growth and development of Encavis’ project pipeline to benefit from opportunities driven by national and international clean…
Google Commits to $35 Million of Carbon Removal Credits over Next 12 Months
Google announced today a new commitment to contract for at least $35 million of carbon removal credits over the next 12 months, as part of an initiative by the U.S. Department of Energy (DOE) aimed at helping to scale the carbon removal sector by funding the sector’s innovations and technology. In a post announcing the new commitment, Randy Spock, Carbon…
Cleantech Startup Furno Raises $6.5 Million to Decarbonize Cement Production
Cleantech startup Furno, announced that it has raised $6.5 million in a seed funding round, with proceeds aimed at supporting the company’s solution to help decarbonize the cement industry. Building materials are a key source of global greenhouse gas emissions. Cement production, an ingredient in concrete, accounts for approximately 8% of global carbon dioxide emissions, with over 900 kg of…
U.S. Invests $750 Million in Projects to Accelerate Clean Hydrogen Production
The U.S. Department of Energy announced today that it will allocate $750 million to a series of projects aimed at dramatically reducing the cost of clean hydrogen, by supporting areas including advance electrolysis technologies and improved manufacturing and recycling capabilities for clean hydrogen systems and components, supporting the government’s ambition to significantly boost the U.S.’ clean hydrogen production capacity over…
Canada Releases Proposed IFRS-Based Sustainability Reporting Standards
The Canadian Sustainability Standards Board (CSSB) announced today the release of new proposed standards for companies to report sustainability and climate-related information, based on the recently released sustainability disclosure standards by the IFRS Foundation’s International Sustainability Standards Board (ISSB). The release of the new standards may form a significant step towards the introduction of mandatory climate-related reporting requirements for Canadian…
Shell Sets 2030 Goal to Reduce Emissions from Customers’ Use of Gasoline and Diesel
Introduces new target, but eliminates 2035 goal due to energy transition “uncertainty” Energy giant Shell announced today the release of “Energy Transition Strategy 2024,” the first update to its “Powering Progress” strategy, launched in 2021, outlining the company’s climate transition roadmap and goals. The updated strategy includes Shell’s first interim target to reduce emissions from the use of its oil…