Nearly all companies and the vast majority of institutional investors see growth and commercial opportunities from the climate transition, with views on sustainability-related investments and initiatives increasingly driven by financial and strategic considerations, according to a new survey released by HSBC. For the report, HSBC commissioned FTI consulting to conduct two surveys, which collected responses from more than 1,650 senior…
Paris-based asset manager Eiffel Investment Group announced that it has raised €1.2 billion (USD$1.4 billion) for the third vintage of its energy transition infrastructure debt strategy, Eiffel Energy Transition III, closing at the fund’s hard cap and significantly surpassing its initial €1 billion target. Eiffel’s Energy Transition funds aim to provide short-term, flexible debt to green energy assets, helping bridge…
Marine carbon dioxide removal provider Ebb Carbon announced a new offtake agreement with Google, targeting the removal of 3,500 tons of CO2 from the atmosphere to be generated from the application of Ebb’s electromechanical water technology solution at a desalination project in Saudi Arabia. Founded in 2021 by former Tesla, SolarCity, and Google X executives, Ebb Carbon provides a solution…
Geothermal energy project developer Fervo Energy announced that it has raised $462 million aimed at supporting the development of its large-scale project in Utah and other new carbon-free energy projects, with the new Series E funding round adding Google as a new investor, and Bill Gates-backed Breakthrough Energy Ventures as a returning investor. Founded in 2017, Houston Texas-based Fervo Energy…
India-based industrial conglomerate Aditya Birla Group’s announced today the acquisition by BlackRock’s infrastructure investment unit Global Infrastructure Partners (GIP) of a minority stake in its clean energy solutions subsidiary Aditya Birla Renewables (ABREN) for INR 20 billion (USD$225 million), in a deal valuing the company at an enterprise value of approximately $1.6 billion. The deal also includes an option for…
Snacking, food, and pet care products provider Mars announced the launch of its new sustainable rice sourcing platform, Raising Right Right, including a $20 million investment from 2020 to 2030 aimed at helping farmers in its supply chain cut greenhouse gas emissions, reduce water use, and adopt climate-smart agriculture practices. Mars’ food and nutrition division includes brands such as Ben’s…
The Global Reporting Initiative (GRI) announced today the release of for new exposure drafts of updates to its key standards aimed at enabling companies to disclose on labor rights issues across their value chains, across topics including forced labor, child labor, and labor rights. GRI Sustainability Reporting Standards are one of the most commonly accepted global standards for sustainability disclosure…
Lawmakers in the European Parliament and Council announced that they have reached a provisional agreement to introduce a new binding target in the European Climate Law to reduce greenhouse gas emissions by 90% by 2040, on a 1990 basis. The new agreement required a series of compromises in order to be completed, including the creation of a significant role for…