Why GRI is key to the EU CSRD and the ESRS Members of the European Parliament (MEPs) have recently endorsed the widespread adoption of the European Sustainability Reporting Standards (ESRS). The Global Reporting Initiative (GRI) has expressed approval of the decision, which will see the ESRS become mandatory for approximately 50,000 firms starting in January 2024. The GRI, alongside the…
Crédit Agricole Ends Financing for New Oil and Gas Projects
Paris-based international banking and investment group Crédit Agricole announced today that it will no longer finance new fossil fuel extraction projects, and will end financing of independent producers focused exclusively on exploration or production of oil and gas. The new policies form part of a new series of measures announced by the bank, aimed at strengthening and accelerating its climate…
Microsoft Signs One of Largest To-date Biochar Carbon Removal Deals
Carbon removal solutions provider Carbonfuture announced today a new offtake agreement with Microsoft for biochar carbon removal (BCR) credits, in collaboration with the Bolivia-based Exomad Green Concepción project. Set to deliver more than 32,000 tonnes of carbon dioxide removal credits to Microsoft by June 2024, the deal marks one of the largest-to date BCR purchase agreements. Carbonfuture CEO Hannes Junginger-Gestrich…
Chipotle Invests in Green Fertilizer, Robotic Regenerative Farming Startups
Chipotle Mexican Grill announced today two new investments in sustainable agriculture-focused startups, including regenerative farming AI and robotics solution company Greenfield Robotics, and low emissions fertilizer producer Nitricity. The investments were made through Chipotle’s $50 million venture fund, CULTIVATE NEXT. Launched in 2022, the fund makes early-stage investments in companies aligned with Chipotle’s mission to “Cultivate a Better World,” and…
Ecoworks Raises €40 Million for Climate Neutral Building Renovation Solution
AI-supported building retrofit provider ecoworks announced today that it has raised €40 million, with proceeds aimed at supporting the growth of its climate neutral renovations solutions business. Founded in 2018, Berlin-based ecoworks plans designs and installs prefabricated facade and roof elements, utilizing an AI-supported digital planning solution, enabling rapid apartment building retrofits to a NetZero standard. The company’s solution digitally…
BCG Signs 15-Year, 80,000 Ton DAC Carbon Removal Deal
Boston Consulting Group (BCG) announced today a purchase agreement with Direct Air Capture (DAC) company Climeworks. Spanning 15 years, the agreement is the largest corporate purchase announced to date by Climeworks at 80,000 metric tons of CO2 removal. DAC technology, listed by the IEA as a key carbon removal option in the transition to a net-zero energy system, extracts CO2…
Ara Partners Raises $3 Billion to Invest in Industrial Decarbonization
Industrial decarbonization-focused private equity investor Ara Partners announced that it has closed on more than $3 billion in new capital commitments, and concluded fund raising for its third fund, Ara Fund III. With commitments of $2.8 billion, the oversubscribed Fund significantly exceeded its initial $2 billion target. Ara’s predecessor fund, Ara Fund II, closed in September 2021 at approximately $1.1…