Wrangling over the mention of fossil fuels provided much drama leading up to the COP30 final outcome. But for the world’s investors, the high-wire act of climate diplomacy was neither here nor there. Investors are adapting to a more multipolar world. They are watching countries’ domestic policies and how those policies change the economics of energy transition investments, which are…
Brookfield Acquires Southeast Asia Renewable Energy Platform
Brookfield Asset Management announced its first renewable energy investments in the Philippines, Vietnam and Thailand, including the acquisition of Independent Power Producer (IPP) Alba Renewables, aimed at creating a decarbonization platform for the company in Southeast Asia. Founded in 2023, Singapore-based Alba Renewables was established to develop, construct, operate, manage, and commercialize renewable energy projects across Asia Pacific, with an…
bp Scraps Plans for Large Scale UK Low Carbon Hydrogen Project
bp has said that it has withdrawn its plans to develop H2Teesside, a large scale hydrogen production and carbon capture facility in Teesside in north-east England, citing deteriorating demand for hydrogen by industrial consumers, and alternative plans to build a new data center at the site. The company said that the decision to end its plans for the blue hydrogen…
NYC Comptroller Calls on City Pension Funds to Drop BlackRock, Fidelity Over Inadequate Net Zero Plans
New York City Comptroller Brad Lander announced that he has recommended that the city’s pension funds drop a $42 billion investment mandates with BlackRock, as well as those with Fidelity and PanAgora, over the asset managers’ failure to submit decarbonization plans that were aligned with the pension system’s net zero investment goals. The Comptroller’s new recommendation focused largely on the…
FCA Releases New Proposed Rules to Regulate ESG Ratings Providers
The Financial Conduct Authority (FCA), the UK’s conduct regulator for financial services firms and financial markets, announced the publication of new proposed transparency, governance and conflict of interest management requirements for ESG ratings providers. The launch of the proposals follows the finalization of new legislation in October by the UK government to regulate ESG ratings providers, under the supervision of the…
CVC Acquires European Green Energy Platform Low Carbon
Private markets investment manager CVC’s infrastructure strategy CVC DIF announced the acquisition of a majority controlling stake in European renewable energy company Low Carbon, in a deal securing more than $1.4 billion in capital for Low Carbon aimed at creating a leading, pan-European Independent Power Producer (IPP). Founded in 2011, London-based Low Carbon develops, builds, and operates utility-scale solar, onshore…
EU Watchdog Says Commission Failed to Follow Procedures in Cutting Sustainability Reporting Rules
EU Ombudsman Teresa Anjinho announced that she has found a series of shortcomings in the European Commission’s process to launch its “Omnibus” initiative to simplify and reduce corporate sustainability reporting and due diligence requirements, alongside other legislative proposals, amounting to “maladministration” by the Commission. The Ombudsman’s findings follow an inquiry into the Omnibus proposal, launched by the Ombudsman in May,…