Analysis shows US support for climate-focused shareholder proposals diverged from EU, as investor-led initiative updates FAQs to further assuage anti-trust concerns. A new report from Morningstar has found the proxy-voting records for 20 high-profile climate resolutions last year contradicted accusations of collusion levelled at Climate Action 100+ (CA100+). The investor-led initiative has faced accusations of collusive behaviour from some US…
Bloomberg Launches New Suite of “Climate Tilted” Versions of Government Bond Indices
Bloomberg announced today the launch of the Bloomberg Government Climate Tilted Bond Indices, a new series of government bond benchmarks aimed at offering investors with exposure to its flagship fixed income benchmarks, in addition to the low-carbon transition, by increasing weightings on countries incorporating climate transition objectives. At launch, the new series will include 14 indices, including global, Eurozone and…
Clean Energy Developer Solarig to Build $850 Million Sustainable Aviation Fuel Plant in Spain
Clean energy developer Solarig announced today that it will develop a new sustainable aviation fuel (SAF) plant in Spain, with a production capacity of 60,000 tonnes (approximately 75 million liters) of SAF per year. The company anticipates that it will invest €780 million (USD$847 million) in the new plant, located in in Parque Empresarial del Medio Ambiente (PEMA) located in…
Biden Administration Announces $20 Billion of Awards to Finance Clean Energy Projects in Low-Income Communities
The Biden administration announced today the selection of $20 billion of awards to fund thousands of climate and clean energy projects across the U.S., with a particular focus on low-income and disadvantaged communities. The buildout of clean energy capacity has been key focus areas for the Biden administration’s climate agenda, with the administration’s Inflation Reduction Act (IRA) and Bipartisan Infrastructure Law (BIL) including allocations…
U.S. Steel Launches Project to Capture 50,000 Tons of Carbon per Year at Steel Plant
U.S. Steel and carbon capture technology provider CarbonFree announced a new agreement aimed at launching a new project to capture up to 50,000 metric tons of carbon dioxide per year at U. S. Steel’s integrated steel mill in Gary, Indiana. According to CarbonFree, the project will be the first commercial-scale carbon capture utilization plant at a steel plant in North…
IKEA Foundation Invests $100 Million to Increase Access to electric Vehicles in Emerging Markets
The IKEA Foundation, a strategic philanthropy funded by IKEA owner INGKA Foundation, announced that it will invest $100 million to support the Leapfrogging Partnership, a new project launched by vehicle electrification-focused initiative Drive Electric Campaign, aimed at advancing decarbonized road transportation in emerging markets. Launched in 2021 by Climateworks Foundation, the Drive Electric Campaign focuses on advancing the goal of…
JPMorgan, Citi, RBC Reach Deals with NYC to Disclose New Climate Finance Metric
New York City Comptroller Brad Lander announced agreements with three major North American banks, including JPMorgan Chase, Citi and RBC, to publicly disclose a new climate reporting metric outlining their ratios of clean energy to fossil fuel finance. The new agreements follow the filing of shareholder resolutions in January by three of New York City’s pension funds – the New…
Cleantech Startup Terragia Raises $6 Million to Advance Biofuel Production Tech
Cleantech startup Terragia Biofuel announced that it has raised $6 million in a seed financing round, with proceeds to be used by the company to grow and to commercialize its biology-based approach to converting biomass into ethanol and other products. Founded in 2022, New Hampshire-based Terragia develops technology enabling the production of sustainable fuels from cellulosic biomass. The company’s solution…