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…
Altor Equity Partners announced the acquisition of a majority stake in marine and land-based cleantech solutions provider Evac from private asset investor Bridgepoint. Founded in 1979, Espoo, Finland-based, Evac is a global provider of integrated clean-tech systems for marine, offshore and land-based industries. The company specializes in water and waste management, as well as vessel protection systems used by naval…
By Sammy Lakshmanan, PwC US Digital & AI-enabled Sustainability Principal Companies have spent years investing in sustainability to cut costs, strengthen resilience, and meet emissions targets. Yet many haven’t realized the full value because the underlying data has been scattered across systems that don’t talk to each other and a disproportionate amount of time is being spent on collecting data…