The European Council announced an agreement by EU member states to delay the implementation of the EU Deforestation Regulation (EUDR) – a new law aimed at ensuring that products imported to or exported from EU markets no longer contribute to deforestation and forest degradation globally – by a year, and to introduce new simplification measures to ease compliance obligations for…
Renewables developer and independent power producer Cypress Creek announced that it has reached financial close and started construction on its Hanson Solar project in Coleman County, Texas. The launch of the new 505 MW renewable energy project follows a power purchase agreement (PPA) between Cypress Creek and Facebook, Instagram, and WhatsApp owner Meta earlier this year. The new facility will…
Google announced the launch of its new Energy Assessment tool, a new solution aimed at helping plant and sustainability managers at manufacturing companies to identify energy efficiency improvement opportunities. According to Google, the new tool aims to address key challenges in unlocking cost savings and emissions reductions through energy efficiency, including the high cost of energy assessment consultants, difficulty in…
World Bank Group member the International Finance Corporation (IFC) announced that it will invest $100 million in Brookfield Asset Management’s Catalytic Transition Fund (CTF), aimed at driving clean energy investments in underserved emerging economies. Initially unveiled in December 2023 at the COP28 climate conference in Dubai, with a $1 billion anchor commitment from UAE-backed climate investment platform ALTÉRRA, CTF aims to…
JPMorgan announced the appointment of Robert Keepers as Head of Climate Tech within the firm’s Green Economy Banking team. Keepers has been with JPMorgan for nearly 20 years, most recently serving as a Managing Director within the Renewable Energy Group of the firm’s Corporate Client Banking & Specialized Industries team. Prior to focusing on renewables, Keepers held a series of…
The European Commission announced today the release of a series of major proposed updates to its Sustainable Finance Disclosure Regulation (SFDR), aimed at helping investors to more easily identify and invest in line with their sustainability preferences, and to simplify compliance and reporting requirements for asset managers and pension funds. Among the most significant changes to the SFDR proposed by…
The European Investment Bank (EIB) and Paris-based financial services group Societe Generale announced a new cooperation agreement to collaborate on financing fast-growing cleantech companies, backed by €250 million in guarantees from the EIB. Under the new initiative, the EIB and Societe Generale look to finance and support innovative, fast-growing small and mid-cap companies active in the cleantech sector. targeting companies…
Decarbonization-focused investment firm Galvanize announced today that its co-founder, hedge fund billionaire and former presidential candidate Tom Steyer, has taken a formal leave of absence from his role as Co-Chair. Following the announcement, Steyer revealed that he will be running for Governor of California. Galvanize was launched in 2022 Steyer and Hall Capital Partners founder Katie Hall, as a mission-driven…
UK-based retailer Marks and Spencer (M&S) announced today the launch of RE:Spark, a new program aimed at supporting decarbonization in its fashion supply chain, with a focus on accelerating the adoption of renewable energy. The new program was developed in partnership with energy technology solutions provider Schneider Electric. According to M&S, the new program forms a key part of its…