The Green Climate Fund (GCF), a USD12bn international climate finance facility, has committed USD253.7m to Africa for supporting infrastructure that can withstand the impact of global warming, as reported by Bloomberg on March 21. The funding will serve as an anchor investment in the Infrastructure...
The British government has announced GBP1.8bn (USD2.2bn) in financial allocation for increasing energy efficiency and cutting emissions in homes and public buildings throughout England, as reported by Reuters on March 21. Among the GBP1.8bn package, the Social Housing Decarbonization Fund and Home Upgrade Grant will...
The latest series of events in the banking sector have added to market volatility and uncertainty this past week. The collapse of Silicon Valley Bank (SVB), followed by the fallout of Credit Suisse [CSGN:SW] has seen the Chicago Board Options Exchange (CBOE) Volatility Index (VIX)...
Google [GOOG:US] has inked a partnership with renewable transaction infrastructure provider LevelTen Energy to speed up the purchasing process for clean energy and help companies execute their decarbonization goals, as reported by ESG Today on March 21. LevelTen Energy has developed a faster and easier...
Vietnam Prime Minister (PM) Pham Minh Chinh has called on banks to provide preferential loans with extended repayment periods to attract foreign investors to develop green power projects in the country, as reported by Bloomberg on March 19. This request came in response to a...
Mexico's northern state Nuevo Leon warned that it would seek penalties for indebted state-owned oil company Pemex after detecting a significant increase in visible emissions from its Cadereyta refinery on March 19, as reported by Reuters on the same day. Pemex stated that it has...
Geneva-based oil producer International Petroleum Corp [IPCO:CN] could add carbon capture and storage (CCS) procedure to its oil sands project in northern Alberta, Canada, if the government offers additional financial incentives, as reported by Reuters on March 19. The company, together with Canada's biggest oil...
Starbucks [SBUX:US], PepsiCo [PEP:US], Nestlé [NESN:SW], SK Group [034730:KS], Unilever [UNA:EN], and Microsoft [MSFT:US] have joined a new recycling and reuse infrastructure platform, Circular Services, in a move to avoid landfill costs and achieve sustainability goals, as reported by ESG Today on March 17. The...
A Texas official added HSBC Holdings [HSBC:US] to a list of companies facing energy sanctions, as the state believes these companies are too focused on transitioning to clean energy, as reported by Reuters on March 21. Republican-led U.S. states have accused companies of prioritizing ESG...
SSE [SSE:LN], a British power generator, has announced that it plans to invest GBP100m (USD122m) in a Scottish pumped hydro scheme to boost the country's energy storage capacity, as reported by Reuters on March 15. The Coire Glas project, located on the shores of Scotland's...
On March 20, US President Joe Biden vetoed a Republican proposal aimed at preventing pension fund managers from taking into account environmental, social, and corporate governance (ESG) factors when making investment decisions, as reported by Reuters on the same day. The veto comes after the...
Kering [KER:FP], the French company that owns luxury brands like Gucci and Yves Saint Laurent, has made a promise to decrease its greenhouse gas emissions by 40% by 2035 compared to 2021 levels, in response to growing concerns among consumers about environmental issues, as reported...
The private investment arm of the Inter-American Development Bank's parent group and Banco de Bogota in Colombia jointly announced the issuance of a sustainability bond worth USD230m to fund social and climate projects, as reported by Reuters on March 17. The bonds, with a term...
The European Commission’s announcement to ramp up clean tech industrial capacity and secure a sustainable raw materials value chain is a bold step towards achieving net-zero emissions. Building on the original European Green Deal, the ambitious Green Deal Industrial Plan presented on February 1st, includes...
Activist investor group Market Forces alleged that Australia’s five largest pension funds were not doing enough to push fossil fuel companies toward decarbonization, as reported by Reuters on March 15. The five schemes, including Australian Super, Commonwealth Super Corp, Australian Retirement Trust, Aware Super, and...
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