The UN’s Recognition and Accountability Framework seeks to bring rigour and transparency to corporates’ net zero plans, but politics could get in the way. Since a breakthrough at COP20 in Lima, the role of non-state actors – including cities, states, regions, companies, investors and foundations – in the United Nations Framework Convention on Climate Change (UNFCCC) process has been a…
Impact Investor responsAbility Launches $500 Million Asia-Focused Climatetech Investment Strategy
M&G’s impact investing unit responsAbility Investments, together with Germany’s development bank KfW and the Dutch development bank FMO, announced the launch of new climate investment strategy, aimed at actively contributing to CO2 reduction in Asia through targeted investments in low-emission technologies, and seeking to mobilize $500 million in capital. According to responsAbility, the new strategy is being launched amidst an…
Mizuho Invests in Climate Impact X to Expand Carbon Credit Market in Japan
Tokyo-based banking and financial services company Mizuho announced today an investment in carbon marketplace and exchange Climate Impact X (CIX), and the launch of a new partnership with CIX aimed at scaling the international carbon credit market in Asia. Singapore-based CIX was launched in 2021 through a joint venture between DBS, Singapore Exchange (SGX), Standard Chartered and Temasek, aimed at…
Carbon Removal Startup Carbo Culture Raises $18 Million
Finnish-American climate solutions provider Carbo Culture announced today that it has raised $18 million, with proceeds aimed at advancing the deployment and commercialization of its biochar carbon removal technology. Founded in 2018, Carbo Culture transforms waste biomass using patented technology to permanently store carbon in a solid form as biochar. The company’s technology heats biomass waste at high temperatures in…
Hydrogen-Electric Aviation Startup ZeroAvia Raises $116 Million
Hydrogen-electric aviation solutions startup ZeroAvia today announced that it has $116 million, with proceeds to be used to advance the company’s efforts to enable zero-emission commercial aviation. Founded in 2018 in California, ZeroAvia develops hydrogen electric engines for airplanes. It expects to offer engines to support a 300-mile range in 9–19 seat aircraft by the end of 2025, and up…
FCA Releases Anti-Greenwashing and Sustainable Investment Product Rules
The Financial Conduct Authority (FCA), the conduct regulator for financial services firms and financial markets in the UK, announced today the release of its new Sustainability Disclosure Requirements (SDR) for asset managers and investment labels rules, including a package of measures aimed at helping investors assess the sustainability attributes of investment products and funds, and avoid greenwashing risk. According to…
Over 4% of Global GDP at Risk from Climate Change by 2050, S&P Warns
More than 4% of GDP could be lost annually due to the physical impact of climate change, if temperature increase exceeds 2°C, with developing nations significantly more exposed and less prepared, according to a new study released by S&P Global Ratings. For the report, “Lost GDP: Potential Impacts Of Physical Climate Risks,” S&P Global examined a series of climate scenarios…
Deloitte, IBM Launch Sustainability Solutions Collaboration
Global professional services firm Deloitte and tech giant IBM announced today a new global collaboration, leveraging each companies’ sustainability solutions to help organizations accelerate emissions reduction strategies, deliver improved sustainability outcomes and streamline sustainable transformation. Christina Shim, Global Head of Product Management/Strategy, Sustainability Software at IBM, said: “This expanded collaboration with Deloitte builds on our ongoing relationship, making it easier…