Growth-focused private equity investor Lime Rock New Energy (LRNE) announced the final close of Lime Rock New Energy Fund II, raising $640 million to invest in high growth energy transition companies. At the final close, the fund significantly surpassed its $500 million target, and doubled the size of its predecessor Fund I. Mark Lewis, Managing Director of Lime Rock New…
Meta announced an agreement with ultra-long duration energy storage company Noon Energy, reserving up to 100 GWh of energy storage capacity to provide continuous power for its data center infrastructure. Under the agreement, Meta will secure up to 1GW of energy storage capacity, with initial collaboration on a 25MW project, scheduled for completion by 2028. Following completion of the project,…
bp shareholders resoundingly defeated two resolutions proposed by the energy giant at its annual general meeting (AGM) on Thursday, including resolutions that would have enabled the company to eliminate some climate-related disclosures, and to hold virtual AGMs going forward. Both resolutions were voted against by more than half of shareholders, falling well below the 75% threshold required to pass. Notably,…
Amazon announced that it has entered into a long-term carbon credit offtake agreement with The Good Rice Alliance (TGRA), aimed at supporting the delivery of high-integrity methane emission reductions from rice cultivation across India. Founded in 2022, Bayer-owned TGRA works with rice farmers across India to deploy sustainable agricultural practices designed to reduce methane emissions from irrigated rice production. Rice…
The European Commission presented its new “AccelerateEU” strategy, outlining a series of proposed actions aimed at addressing the rapid increase in energy costs and reducing the EU’s reliance on imported fossil fuels. Among the key long-term measures included in the new plan is a commitment by the Commission to present an Electrification Action Plan, including “an ambitious electrification target,” alongside…
GM announced a new clean energy milestone, with the company securing 100% of the energy needed to power all its U.S. sites with renewable electricity in 2025. The company said that it was the first U.S. automaker to achieve this goal. With the achievement, GM reached its goal, set in 2021, to source 100% renewable energy to power its U.S….
The IFRS Foundation’s International Sustainability Standards Board (ISSB) announced that it has decided to proceed with the development of proposed requirements for companies to provide nature-related disclosures in the form of an IFRS Practice Statement, instead of a mandatory standalone standard. In an effort to address concerns about its decision, the ISSB stressed that applying the Practice Statement would have the…