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Pooja Kesavan

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Pooja Kesavan reports on sustainable finance, corporates and climate issues, among many other categories, at Sustainability Economics News. She has previously worked as a digital journalist for Reuters and Gulf News. Her interests include nature reporting, environment, and international policies.

US federal court rules in favor of environmentalists overturn Alaska oil lease sale

On Tuesday night, a federal court in Alaska overturned an oil and gas lease sale. The sale, which was required by the Biden administration’s climate […]

SAF production capacity in the US to jump 1400% in 2024 

The US Energy Information Administration (EIA) reported that the production capacity of sustainable aviation fuel (SAF) in the United States may increase by 1400% in […]

Britain needs to act fast to meet 2030 climate target, says advisors 

Britain’s new Labour government must swiftly act to meet its 2030 climate target. According to the country’s climate advisers, current plans cover only a third […]

Spain announces $2.5 billion plan to boost renewable energy 

Spanish Prime Minister Pedro Sanchez unveiled a new 2.3 billion euro ($2.5 billion) plan on Wednesday to accelerate Spain’s shift to clean energy. The plan […]

US court orders federal regulators to reassess the impact of emissions from Lousiana’s LNG project 

A US court has directed federal regulators to review the environmental impact of greenhouse gas emissions from Commonwealth LNG’s Louisiana liquefied natural gas project.  While […]

Australia invests about $13 million in recycling plastic facility

The Australian federal government has allocated A$20 million ($13.48 million) to assist in establishing Recycling Plastics Australia’s new soft plastics recycling facility in Kilburn. This […]

TotalEnergies, UK power join hands to launch EV charging company 

French oil giant TotalEnergies and UK power company SSE announced plans to capture a 20% share of the electric vehicle (EV) fast-charging market in Britain […]

More than 100 companies demand for tougher policies to stop nature loss 

132 companies, with a total revenue of $1.1 trillion, exclusively shared a letter with Reuters demanding decisive action on nature loss. Companies such as Unilever, […]

Renewables growth rate falls short of 2030 target, IRENA report shows

A report from the International Renewable Energy Agency (IRENA) on Thursday revealed that the world may fail to triple its renewable energy capacity by 2030 […]

UK’s former climate watchdog appointed to lead ‘mission control centre’ on clean energy 

UK’s Labour Party has appointed Chris Stark, a leading climate expert and former head of the UK’s climate watchdog, to lead a “mission control centre” […]

Occidental seals record carbon removal deal with Microsoft 

Occidental Petroleum Corp. has secured a landmark carbon removal agreement with Microsoft Corp. as part of Microsoft’s efforts to curb its growing emissions. Occidental, through […]

Podesta highlights climate rules in anticipation of Supreme Court decision

John Podesta, Senior Advisor to the President for International Climate Policy, on Tuesday, said that the Biden administration had anticipated a Supreme Court decision. This […]

US forgives $35 million Indonesian debt in exchange for coral reef restoration deal

The US Treasury on Monday announced that Indonesia will forgive $35 million of debt over nine years. In return, Indonesia will undertake efforts to restore […]

China’s Ministry of Industry sets new solar PV investment standards

China’s industry ministry proposed a draft rule on Tuesday that raises the minimum capital requirement to 30% for solar photovoltaic (PV) manufacturing projects. Previously, the […]

2024 on track to be the world’s hottest-recorded year 

According to the European Union’s Copernicus Climate Change Service (C3S), last month marked the hottest June ever recorded, continuing a trend of record-breaking temperatures. This […]

SBTi’s credibility undermined by new revelations

The Science Based Targets initiative, the world’s largest verifier of CO2 and corporate climate goals, could suffer long-term reputational damage unless it swiftly addresses a […]

Norway seeks to explore renewable energy, carbon capture opportunities in Indonesia

According to the energy minister, Norway aims to enhance its partnership with Indonesia and explore investment opportunities in renewable energy, such as hydropower and carbon […]

UN’s Methane Observatory flags Big Oil of site releasing potent emissions

A gas platform in the Gulf of Thailand has received a new warning from United Nations International Methane Emissions Observatory (IMEO) about methane emissions detected […]

US imposes $145.8 million fine on General Motors for excess emissions

General Motors will pay a $145.8 million fine and forfeit credits valued at hundreds of millions of dollars following a US government inquiry that revealed […]

India’s solar power growth hits 6-year low amid rising coal dependency, data shows

India’s solar power growth slowed to its lowest rate in six years during the first half of 2024, according to data from the federal grid […]

Egypt’s wind megaproject of $10 billion to begin by 2026

Construction on one of the world’s largest wind farms in Egypt is set to commence by March 2026, according to a statement from a company […]

Home buyers in Australia and New Zealand inching more towards climate risks

Policymakers, researchers, and property experts caution that home buyers in Australia and New Zealand are overlooking the risks of climate change as they gravitate towards […]

Coal dependency soars in Indonesia and Philippines, surpassing Poland in 2023

According to data from energy think tank Ember, the Philippines has entered the top ten list of economies most reliant on coal-fired electricity, surpassing Indonesia […]

EU sets new standard with 75% CO2-free electricity in 2024, data shows

Industry data revealed on Monday that 75% of the European Union’s electricity in the first half of this year came from CO2 emissions-free sources, marking […]

Google buys stake in BlackRock-owned solar power firm in Taiwan

Google announced that it has bought a stake in Taiwan’s New Green Power and plans to purchase up to 300 megawatts of renewable energy from […]

Invesco launches $1.6 billion US climate ETF backed by Finnish funding

Amid US investors withdrawing from sustainable funds, Atlanta’s Invesco has introduced a new climate-focused ETF. The fund received an initial $1.6 billion in assets from […]

Air freight’s greenhouse emissions up by 25% compared with 2019, new analysis shows 

According to a report from the campaign group, the surge in online shopping and changes in the post-pandemic economy has driven a 25% rise […]

Big Oil could face homicide charges over 2023 heatwave deaths in Arizona, new legal memo says

Prosecutors in Arizona are considering the possibility of pushing homicide charges against major oil companies for deaths resulting from a July 2023 heatwave, according to […]

EU proposes a framework to resolve funding disputes in large-scale green energy projects

A document seen by Reuters showed that the European Union (EU) will outline guidelines for its member states to jointly develop large-scale renewable energy projects. […]

Temasek and Blackrock to invest in carbon removal strategy

In a joint partnership, Singapore’s Temasek and BlackRock have initiated a $69 million capital raise to enhance global carbon removal efforts by Swiss firm Neustark.  […]

Europe’s biggest airline group to charge up to €72 for covering clean fuel costs

Deutsche Lufthansa AG plans to introduce a surcharge of up to €72 ($77) per flight next year to cover the increasing costs of alternative fuels […]

Investors to start talks with companies to drive policy action on nature loss

Over 200 investors have proposed a plan to initiate discussions with 60 companies about biodiversity. The focus will be on companies operating in countries where […]

Global initiative RE100 calls on Japan to triple renewables capacity by 2035

On Tuesday, RE100, a global corporate initiative promoting renewable energy procurement, urged the Japanese government to swiftly and decisively triple its renewable electricity capacity by […]

Germany likely to phase-out coal power plants before 2038 deadline, climate envoy says 

Germany’s climate envoy stated on Monday that the country is expected to shut down its coal-fired power stations earlier than the mandated 2038 deadline due […]

Insurance broker launches world’s first carbon credit warranty policy

The Howden Group, an insurance broker, announced it played a role in developing the first-ever warranty and indemnity policy for carbon credits. This initiative aims […]

China wants EU to scrap preliminary tariffs on EVs by July 4

Beijing has urged the European Union to cancel its initial tariffs on Chinese electric vehicles before July 4, according to China’s state-controlled Global Times.  This […]

Indian engineers warn of prolonged power outages, amid extreme heatwaves

The All India Power Engineers Federation has warned the state government that the current situation is worsening daily, emphasizing that a grid outage in the […]

Federal coalition eyes Queensland’s CFPP for potential nuclear reactors

Queensland is poised to become a focal point in the Coalition’s push towards nuclear energy, with plans suggesting the state could host up to two […]

EU regulators push for revisions in landmark ESG rulebook 

Regulators overseeing the markets, banking, and insurance sectors urged the European Commission in their joint ESA opinion document on Tuesday to revise the Sustainable Finance […]

Volkswagen and Vulcan Green Steel sign MoU to produce low-carbon steel

Volkswagen AG and Vulcan Green Steel have signed a Memorandum of Understanding (MoU) to establish a partnership focused on low-carbon steel.  VW plans to procure […]

UK’s asset owner introduces Climate Transition Index in £160 billion decarbonisation push

Phoenix Group, a UK asset owner, has introduced a climate transition index as part of its commitment to redirect £160 billion towards decarbonisation efforts over […]

Andrew Forrest urges coalition to reconsider 2030 emissions target 

Fortescue founder Andrew Forrest warned that if the federal coalition scraps the 2030 emissions reduction target, Australian exports could face hefty carbon taxes.  Forrest criticized […]

African, Inter-American Development bank leaders seek $20 billion IMF assets for $80 billion climate finance drive

Leaders of the African and Inter-American Development Banks are touring North America, the Middle East, Korea, and Brazil to secure $20 billion in IMF reserve […]

Germany’s top climate envoy says deep cuts by 2030 are “essential” after Australia’s leader refuses to commit to emission target 

Germany’s climate envoy insists that achieving net zero emissions by 2050 is not enough under the Paris Agreement, emphasizing that the urgency of deep cuts […]

Clean energy investments for emerging nations among top agenda of COP29

People in countries most vulnerable to climate change face the consequences of extreme weather conditions. Despite playing a minimal role in driving climate change and […]

Swiss leaders reject landmark ruling in favour of female climate elders

Swiss politicians have rejected a significant climate ruling from the European Court of Human Rights, sparking concerns that other countries with high pollution levels may […]

Ex-MD of Goldman Sachs teams up with law firms to develop an alternative to carbon credits 

Jim Bunch, a former managing director at Goldman Sachs Group Inc., has teamed up with law firm Linklaters and London nonprofit Scope 3 Climate Capital […]

Global oil demand to peak by 2029, IEA says 

According to the International Energy Agency (IEA), global oil demand is expected to reach its highest point by 2029 and then start decreasing the following […]

Largest US oil trade group to file a lawsuit to block Biden’s EV push

The nation’s largest oil trade group, which includes Exxon Mobil and Chevron, will file a federal lawsuit on Thursday to block the Biden administration’s initiatives […]

Startup eyes US factory for futuristic solar panels, countering China’s dominance

California-based startup Swift Solar Inc. intends to construct a factory in the United States within the next two to three years to manufacture its advanced […]

UBS hosts first-ever biodiversity-centric ESG conference

UBS Group AG recently organized its first-ever conference centred on the ESG aspect of biodiversity, indicating its aspirations to expand into a business sector previously […]

Big banks face scrutiny for ‘greenwashing’ their role in Amazon Rainforest destruction 

A recent report reveals that five major banks are accused of misleading the public about their involvement in the the destruction of the Amazon Rainforest. […]

Europe will need to invest more in sustainable aviation fuels to meet Net-Zero targets 

European leaders are urged to increase investment in synthetic aviation fuels alongside biofuels to achieve Net-Zero targets and decarbonize aviation by 2050.  Relying solely on […]

World’s largest carmakers to face $7.6 billion lawsuits for allegedly cheating emissions tests

The world’s largest carmakers are currently facing 1.5 million lawsuits in Britain, accusing them of manipulating emissions tests. The estimated cost could reach 6 billion […]

Japan’s Nippon Life Insurance announces new transition finance guidelines

Japan’s Nippon Life Insurance announced guidelines for offering transition finance loans to steelmakers and utilities, aiming to set a standard for local lenders and businesses.  […]

Citigroup faces pressure after climate activists gather outside NYC headquarters

On Monday, a large group of climate activists assembled outside Citigroup Inc.’s headquarters in downtown Manhattan, launching what they claim to be a prolonged campaign […]

Analysts predict an uphill battle for EU climate policies amidst a rightward lean

The shift towards right-leaning parties in the European Parliament is expected to hinder the passage of ambitious EU climate policies. However, analysts, officials, and lawmakers […]

Insurance sector faces ‘tremendous volatility’ amid climate crisis, says Chubb CEO

On Thursday, CEO Evan Greenberg told CNBC’s Jim Cramer that climate change is a significant contributing factor influencing insurance prices. “Climate change has created tremendous […]

US solar industry races to deploy stockpiled panels as tariff holiday expires

As the two-year US tariff break on solar panels from Southeast Asia ends, American project developers must now swiftly deploy the large stockpile of duty-free […]

Global clean energy investment to hit $2 trillion in 2024, IEA reports

The International Energy Agency (IEA) forecasts that global investment in clean energy technology and infrastructure will reach $2 trillion this year, doubling the amount allocated […]

Carbon removal technology could cost much more than estimated 

Climeworks AG claims to have achieved a breakthrough that could halve the cost of removing a ton of carbon from the air. While this could […]

European asset managers prepare for ESG fund purge, post new regulations 

According to a recent analysis, new regulations in Europe will lead to a widespread industry purge as asset managers face limits on attaching ESG labels […]

Carbon removal must quadruple to hit climate targets, researchers warn

According to a report by researchers released on Wednesday, to achieve global climate goals, governments must expand afforestation and use advanced technologies to quadruple the […]

EU approves Germany’s $1.90 billion payout for coal phase-out

Germany’s economy ministry announced it received preliminary approval from the European Commission to compensate power company LEAG with up to 1.75 billion euros ($1.90 billion) […]

Climate advisory firm optimistic about venture capital investments in Australia amidst decarbonization push

Pollination Group, a climate change advisory and investment firm, observes better opportunities for venture capital investments in Australia as the government ramps up support for […]

New analysis shows COP28’s promised global goals to triple renewable power fall behind 

According to the International Energy Agency’s analysis released on Tuesday, the combined efforts of countries would expand renewable energy by 2.2 times by 2030. The […]

Waste Management nears $7 billion deal to buy Stericycle

Waste Management is close to finalizing a purchase agreement with Stericycle, a medical waste disposal company, for approximately $7 billion, which includes debt.  According to […]

Climate crisis must be top priority in UK election, says green groups 

Green groups are urging that the climate crisis be made a central focus in the upcoming TV debates between Rishi Sunak and Keir Starmer.  Several […]

One of world’s biggest carbon-offset projects withdraws from registry, casts shadow on CO2 credit market

Carbon Green Investments, a company managing offset projects, has announced that it will immediately remove the Kariba forestry project, one of the biggest carbon offset […]

South Korea to generate 70% of its power from carbon-free energy sources 

South Korea aims to get 70% of its electricity from clean energy, such as renewables and nuclear power, by 2038, a significant increase from the […]

No new oil, gas, or coal licenses needed as existing projects meet demand forecasts for 2050, study shows

In a recent study, researchers at University College London and the International Institute for Sustainable Development (IISD) said that sufficient fossil fuel projects are already […]

Architect behind the world’s tallest skyscraper to design buildings that can store energy using gravity

Skidmore, Owings & Merrill LLP (SOM), the architecture firm responsible for the world’s tallest building, is exploring methods to construct skyscrapers that can store energy […]

World Bank approves $1.2 billion budget support for Kenya to accelerate green policies

The World Bank has approved a $1.2 billion budget support package for Kenya to help the country manage immediate fiscal challenges and accelerate environmental initiatives.  […]

White House announces new measures to support upcoming nuclear power plants 

On Wednesday, the White House announced new measures to support the advancement of new nuclear power plants in the United States.  Nuclear power is recognized […]

$1 billion funded waste-to-fuel company could collapse

Fulcrum BioEnergy, a clean fuel technology company, secured over $1 billion in funding to convert household waste into eco-friendly fuels for transportation. However, it faces […]

European Central Bank to impose fines on climate failures in its first-ever move

In its first-ever move, The European Central Bank is planning to fine several banks for failing to address the impact of climate change. Up to […]

Temperatures cross 50°C in parts of north and central India 

In northern and central India, temperatures soar above 50°C amidst a severe heatwave. Over 37 cities across the nation experienced temperatures surpassing 45°C this week.  […]

EU, Australia partner to secure supply of critical minerals 

On Tuesday, the European Union and Australia signed a memorandum of understanding (MoU) to collaborate on crucial minerals. The deal aims to broaden the EU’s […]

Corporate climate watchdog tightens rules for asset managers and banks

A top authority on corporate climate goals announced it would enforce stricter criteria for financial institutions seeking its endorsement to ensure their short-term objectives better […]

Egypt partners with China’s second-biggest automaker to produce affordable EVs 

An Egyptian firm has teamed up with the second-largest state-owned car manufacturer in China to produce affordable electric vehicles (EV) in the Middle East’s most […]

EU passes new law which mandates 40% domestic green tech production

The European Union has approved a new law to ensure that 40% of its clean technology, including solar panels and wind turbines, is produced within […]

Climate protestors target TotalEnergies over new oilfield development plans 

The CEO of TotalEnergies informed shareholders that new oilfields must be developed to meet global demand. Climate activists protested outside the annual meetings of the […]

Biden administration set to lay out first-ever broad guidelines for carbon markets 

Biden administration, led by Treasury Secretary Janet Yellen, will introduce the first US guidelines for carbon markets this week. This marks a significant step forward […]

German climate activists charged with ‘forming criminal organization’, sparks controversy

Five members of Letzte Generation, a climate activist group similar to Just Stop Oil in Germany, face charges of “forming a criminal organization.” Civil rights […]

Japan’s Itochu signs renewable energy agreement with Google 

On Friday, Itochu announced signing a long-term power supply agreement with Google to support the tech giant’s renewable energy objectives in Japan. Through its portfolio […]

IEA chief stresses the need to speed up talks on climate aid for poor nations ahead of COP29

Ahead of this year’s COP29 summit, the chief of the International Energy Agency emphasized that global climate talks must focus on increasing clean energy investments […]

Berlin court orders German govt to strategize sector-specific climate goals by 2030

A Berlin court has instructed the German government to revise its 2023 climate plan to align with sector-specific 2030 goals. The ruling, issued by the […]

US lawmakers probe investigation into climate deception by Big Oil  

US lawmakers lead an inquiry into big oil companies and urge the Justice Department to investigate potential climate deception.   Democrats Senator Sheldon Whitehouse and Representative […]

First all-electric school bus fleet in the US to power 300 homes

Battery-operated school buses in Oakland, California, are anticipated to reduce emissions and provide sufficient electricity to power at least 300 homes. A recent report from […]

Additional $34 trillion needed to meet net zero goals by 2050, new report shows 

BloombergNEF’s extensive New Energy Outlook report, which spans 250 pages and analyzes 18 million data points, reveals that governments and companies must invest an additional […]

‘Be a part of the plan’ echoes as International Day of Biological Diversity marks its 32nd year

Biodiversity, encompassing the variety of all life forms on Earth, is fundamental to sustaining the ecosystems that provide us with food, clean water, air, and […]

Pressure mounts on Biden administration to halt deepwater oil-export projects 

The Biden administration faces increased calls to strengthen its restrictions on America’s growing fossil fuel trade. This includes stopping the construction of new deepwater oil […]

Over a third of Amazon rainforest struggle to recover from droughts, study finds 

A recent study published in the Proceedings of the National Academy of Sciences reveals that more than a third of the Amazon rainforest struggles to […]

Banks anxious of growing energy-related risks in mortgage portfolios 

Lenders across Europe are struggling with a rising concern about energy consumption in residential mortgage portfolios  In Germany, the largest economy in the region, numerous […]

Environmental activists demand transparency in Russia’s climate strategy

Activists are pressing Russia’s constitutional court to review the nation’s climate policies, specifically its significant methane emissions.  The claim, brought forth by 18 individuals and […]

New South Wales implements stricter regulations for polluters of greenhouse gases

New coal mines, gas fields, and other major sources of greenhouse gases in New South Wales will now face stricter regulations to minimise pollution and […]

Methane emissions by US landfills exceed federal limits, inspection reports show

An analysis of inspection reports found that nearly two dozen US landfills frequently exceeded federal methane emission limits, often reporting lower levels than actual.  The […]

Deutsche Bank secures $652 million capital-relief deal with European Investment Bank for green mortgages

Deutsche Bank has entered a deal with the European Investment Bank that enables it to offer discounts on over €600 million ($652 million) worth of […]

Norway’s $1.6 trillion sovereign wealth fund asks Shell for more climate policy disclosure

Norway’s $1.6 trillion sovereign wealth fund has asked Shell to provide more information about its updated climate targets. However, the fund will oppose an independent […]

Japan’s Mizuho to invest $13 billion to develop hydrogen technologies 

Tokyo-based banking and financial services company Mizuho Financial Group announced a new objective. The company intends to provide JPY 2 trillion (USD$13 billion) in financing […]

China to build first ‘green’ aviation fuel with $1 billion investment

Biofuel companies are investing over $1 billion to construct China’s first plants converting waste cooking oil into aviation fuel.  This investment aims to meet both […]

India’s largest climate impact fund to raise $1 billion

Eversource Capital, which managed India’s largest climate impact fund in 2022, aims to raise at least $1 billion to support companies in other Asian countries, […]

Trump’s presidency could jeopardize $1 trillion in clean energy investment, a new analysis says 

According to a new analysis by Wood Mackenzie published on Thursday, Donald Trump’s victory in the November 5 presidential election would threaten $1 trillion in […]

UK under danger of losing its spot on Global Green Finance Index 

The UK Sustainable Investment and Finance Association (UKSIF) has released a report indicating potential challenges facing the UK’s leadership in global green finance.  According to […]

Logistics company tests first-ever electric transport for long-distance deliveries 

DB Schenker in Sweden introduces a fully electric Scania R 450e lorry for long-distance deliveries. This e-truck will operate between Jönköping and Södertälje, covering a […]

Climate change could worsen neurological conditions, study discovers 

A study by University College London researchers reveals that extreme heat and climate change-related disasters worsen neurological diseases and mental health disorders.  They found that […]

Microsoft’s AI ambitions threaten to derail carbon neutrality pledge

Microsoft Corp.’s ambitious pledge to remove more carbon than it emits by 2030 is now at risk due to its aggressive push to lead in […]

Exxon under fire again for falling short on climate commitments 

Exxon Mobil Corp is again under scrutiny from environmentally focused investors who argue that the company is not meeting its climate-related commitments. Criticism of the […]

China orders for energy-efficiency plans to meet targets

China’s state planner, the National Development and Reform Commission (NDRC), has directed provinces to create energy-efficiency plans for entities responsible for roughly 70% of energy […]

Indonesia’s state energy firm, Exxon, KNOC sign agreement for carbon capture and storage hub 

Indonesia’s Pertamina, ExxonMobil, and South Korea’s KNOC agreed to develop a carbon capture and storage (CCS) hub in Indonesia.  Pertamina and ExxonMobil will collaborate on […]

US appeals court upholds Biden administration’s biofuel mandate from 2020 to 2022

A US appeals court has confirmed a rule from President Biden’s administration on biofuel blending requirements for oil refiners from 2020 to 2022.  The court […]

Biden to quadruple tariffs on Chinese EVs with solar exclusions

President Joe Biden plans to increase tariffs significantly on Chinese electric vehicles (EV) and other key industries this week, emphasizing the move as a defence […]

UK faces funding risk as sustainable finance framework lags

Britain’s delay in finalizing its sustainable finance framework is jeopardizing billions of pounds in funding, as per a UK investor association overseeing £19 trillion ($24 […]

Australia to invest $15 billion in renewable energy, domestic manufacturing 

On Tuesday, the Australian government announced an A$22.7 billion ($15.0 billion) package to strengthen domestic manufacturing and renewable energy sectors and decrease dependence on foreign […]

Schneider Electric to automate India’s largest single-stage wastewater treatment plant 

Schneider Electric supports India’s Namami Gange initiative by implementing sustainable automation at Delhi’s largest single-stage wastewater treatment plant.  SUEZ is building the plant under the […]

World’s 60 biggest banks financed fossil fuels by $6.9 trillion since Paris Agreement, report reveals 

According to the 15th annual Banking On Climate Chaos (BOCC) report released Monday, banks such as Barclays and HSBC committed $705 billion to fossil fuels […]

Investment manager steps into nature-based carbon credit market 

Octopus Investments has introduced a new Natural Capital Strategy to acquire UK land-based assets to generate carbon removal credits and other revenue streams.  This move […]

Startup develops vaccine that can reduce methane emissions from livestock 

A Boston-based startup is in the process of developing a vaccine that can curb methane emissions that are emitted by livestock.  ArkeaBio, an ag-biotech company, […]

JPMorgan CEO meets Texas AG amid threats to bar banks over ESG policies 

Jamie Dimon, CEO of JPMorgan Chase & Co., met with Texas Attorney General Ken Paxton because Paxton threatened to prevent more banks from assisting the […]

Japan to map out a decarbonizing strategy by 2040

The Japanese government plans to develop a new national strategy by the end of March next year, focusing on decarbonization and industrial policy toward 2040.  […]

EU approves law to cut CO2 from heavy-duty vehicles 

European Union countries officially approved a law on Monday to reduce truck carbon dioxide emissions. This law mandates that most new heavy-duty vehicles sold in […]

Private equity firm offer to buy Swedish renewable energy group for $1.5 billion 

On Monday, private equity firm EQT announced a cash offer to acquire Swedish renewable energy group OX2 for 16.4 billion crowns ($1.51 billion). EQT is […]

Decision looms for Glencore’s carbon capture approval in Queensland amid environmental safety debate 

This month, Queensland state in Australia will decide whether to approve Glencore’s request to bury liquefied carbon dioxide in the country’s largest aquifer. Farm groups […]

Court rejects Republican-led states’ attempt to halt SEC’s ESG proxy vote disclosure requirement 

On Friday, a federal appeals court rejected a lawsuit by four Republican-led states trying to stop a US Securities and Exchange Commission rule. This rule […]

First US-built boat for maintaining offshore wind farms is all set to launch 

A new boat Eco Edison, designed to support operations in US offshore wind farms, will be launched in New Orleans on Saturday in the presence […]

US and China aim to work together on phase-out of coal despite trade rifts 

A two-day climate discussion between the largest emitters of greenhouse gases concluded this week, with plans for the US and China to collaborate on phasing […]

Green hydrogen startup Hysata raise $111 million in Series B funding 

Australia-based Hysata, a startup focused on green hydrogen, announced it has raised $111 million in a Series B funding round. The funding will support advancements […]

Singapore Airlines signs agreement with Neste to purchase Sustainable Aviation Fuel 

Singapore Airlines (SIA) Group has partnered with Neste to acquire 1,000 tonnes of neat Neste MY Sustainable Aviation Fuel in an effort to reduce its […]

South Africa to secure $2.6 billion deal for shut down of CFPPs and grid upgrades 

South Africa is preparing for a transition in its energy sector, seeking $2.6 billion in climate finance by proposing a revised timetable for closing coal-fired […]

Republican attorneys sue EPA over carbon rule 

Republican attorneys general from 27 US states, and industry trade groups filed lawsuits to block a new Environmental Protection Agency rule to reduce carbon emissions […]

Dutch pension fund to focus its sustainable investments on biodiversity, affordable food systems 

The Dutch multi-sector pension scheme PGB has chosen three ‘focus themes’ for its sustainable investments based on member preferences: climate change, biodiversity loss, and sustainable […]

Institutional investors with assets worth $1.2 trillion urge Barclays to halt financing fracking 

A group of 24 institutional investors, collectively managing $1.2 trillion in assets, are urging Barclays Plc to cease financing fracking. They argue that Barclays’ recent […]

Confidential documents reveal carbon offsets are largely ineffective 

Staff at a prominent corporate climate action group, whose board proposed a plan allowing companies to offset supply chain greenhouse gas emissions with carbon credits, […]

Hunger, diseases on the rise post record heat, floods and drought in Latin America, reveals WMO report

According to a report from the World Meteorological Organization (WMO), hunger and disease are increasing in Latin America due to a year of extreme heat, […]

Spain’s Official Credit Institute to invest €15 million in insurer Mapfre’s green biofuel fund

Spain’s Official Credit Institute (ICO) has committed to invest €15 million in Spanish insurance group Mapfre’s green biofuel fund.  Mapfre, in collaboration with IAM Carbonzero, […]

Climeworks opens world’s largest plant to capture CO2 from air 

Climeworks has unveiled the world’s largest operational direct air capture (DAC) plant, the Mammoth plant in Iceland. This plant is nearly ten times larger than […]

Asset manager to invest $35 million in renewable energy firm 

On Tuesday, AMPIN Energy Transition announced that Switzerland-based asset manager responsAbility, will invest up to $35 million on behalf of its investors in the renewable […]

Siemens Energy to restructure management of its troubled wind turbine division 

Siemens Energy announced that Jochen Eickholt, who became CEO of Siemens Gamesa in March 2022, will step down at the end of July and will […]

April marks 11th consecutive month of record temperatures

According to the European Union’s climate change monitoring service, the world just had its hottest April on record, continuing an 11-month streak in which each […]

Solar, wind power pushed renewable energy to a record 30% of global electricity production in 2023 

According to a report by think tank Ember, in 2023, due to the increased adoption of solar and wind power, renewable energy made up 30% […]

India’s Bengaluru sees spells of rain after months of sweltering heat

Recent showers in Bengaluru have provided relief to residents from the persistent heat experienced over the last few months. According to the Indian Meteorological Department […]

Asheville-based renewable energy firm secures $650 million for expansion

Pine Gate Renewables, headquartered in Asheville, has secured a $650 million investment from three partners. Generate Capital, the Healthcare of Ontario Pension Plan and HESTA. […]

Exxon, Chevron CEOs demand clear rules on US clean energy subsidies

On Monday, top executives of US oil giants Exxon Mobil and Chevron Corp emphasised the necessity for the US to provide clear guidelines on energy […]

Investment in clean energy manufacturing soared to $200 billion in 2023, says new IEA report 

In a first-of-its-kind analysis, Advancing Clean Technology Manufacturing reports that global investment in manufacturing five key clean energy technologies (solar PV, wind, batteries, electrolysers, and […]

US to host China’s climate envoy this week in Washington

The State Department announced that China’s Special Envoy for Climate Change, Liu Zhenmin, will visit Washington on Wednesday and Thursday.  This meeting fulfils the Biden […]

Leading health funders team up in $300 million initiative to combat climate change, disease

Three major global health funders have partnered for the first time in a $300 million initiative to address the interconnected challenges of climate change, malnutrition, […]

Brussels Airport to achieve net zero target by 2030

Brussels Airport Company is significantly ramping up efforts to reach net zero carbon emissions by 2030, aiming to eliminate all carbon dioxide emissions (scopes 1 […]

Deutsche Bank appoints Trisha Taneja as global head of ESG 

Deutsche Bank announced the appointment of Trisha Taneja as the global head of environmental, social, and governance (ESG) for the origination and advisory division.  Taneja […]

Britain’s new climate action plan unlawful due to delivery risk, High Court rules 

London High Court has ruled that Britain’s latest climate action plan is unlawful because ministers were not adequately informed of the risks associated with key […]

Berkshire Hathaway shareholders reject six environment, social policy proposals 

During their Saturday meeting, shareholders of Berkshire Hathaway Inc. decisively rejected six proposals related to environmental and social policies at Warren Buffett’s conglomerate.  The majority […]

Delay in energy transition could impact investments, says new report 

According to a report by consultancy Wood Mackenzie, a five-year delay in decarbonization efforts could raise global average temperatures by 3 degrees Celsius above pre-industrial […]

Air France, Lufthansa Group among 20 other airlines part of EU greenwashing probe

Air France, its Dutch arm KLM, Norwegian, SAS, and multiple Lufthansa Group airlines are among 20 carriers under investigation by the European Union for potential […]

PG&E nears deal to sell power assets to investment firm KKR 

California utility Pacific Gas & Electric (PG&E) announced that it is close to finalizing an agreement to sell its power generation assets to KKR, a […]

Canada’s 2022 greenhouse gas emissions rose less than expected after pandemic 

Environment Minister Stephen Guilbeault announced on Thursday that Canada’s greenhouse gas emissions in 2022 increased by a smaller amount than anticipated, following the peak of […]

US appeals court clears path for $655 million clean energy transmission line

On Thursday, a US appeals court overturned a lower court’s decision that halted a land exchange crucial for developers to proceed with constructing a significant […]

Major carbon credit programs receive initial approval amid growing market demand

Five of the largest carbon credit programs worldwide have received initial approval from a regulatory body dedicated to enhancing standards in the carbon offset market. […]

Australia’s second-largest pension fund to stop investing in thermal coal companies in net zero push 

On Thursday, the Australian Retirement Trust announced that it will cease investing in most thermal coal companies starting in July as part of its strategy […]

China warns of climate setback amid US-Europe push against green tech dominance

According to Liu Zhenmin, appointed by Xi Jinping as Special Envoy for Climate Change, efforts by the US and Europe to curb China’s leadership in […]

Australia hits historic high with 36% renewable electricity in Q1

Renewable energy produced more than one-third of Australia’s electricity in the first quarter of 2024, marking a record high for solar and wind farms during […]

Confidential report warns Citigroup of billions of loss in loan book from climate action

Citigroup could face significant financial losses in its loan portfolio if global efforts to address climate change accelerate, as indicated by a confidential analysis conducted […]

White House introduces reforms to fast-track clean energy, infrastructure approvals 

On Tuesday, the White House changed the US environmental review process for large-scale projects. Officials believe these reforms will expedite approvals for various activities, including […]

NEoT Green Mobility raises €60 million for zero-emission mobility financing

NEoT Green Mobility (NGM), based in Paris and dedicated to financing zero-emission mobility projects, has announced securing an additional €60M from its key investors, Mirova, […]

Australia’s major polluters could be emitting twice the estimated methane, report finds

According to a report from Melbourne’s nonprofit organization, The Superpower Institute, major polluters in Australia may be emitting more than double the methane as estimated […]

Death toll rises as Southeast Asia grapples with a severe heatwave, power demand reaches record level

Bangkok issued extreme heat warnings last week as the heat index reached “very dangerous” levels. Government data indicates that about 30 people have died from […]

G7 reaches agreement to shut down CFPPs by first half of 2030s

Energy ministers from the Group of Seven (G7) major democracies have agreed to close down their coal-fired power plants by the early 2030s, marking a […]

Maritime Transport to replace diesel trucks with electric, hydrogen-powered vehicles

Maritime Transport is progressing toward eco-friendly trucking by replacing diesel trucks with new electric semi-trucks. The company has placed an order for a total of […]

Customer experience solutions launches sustainability campaign 

Concentrix, a provider of customer experience solutions, has initiated the ‘Go Clean, Go Green’ campaign. This campaign involves organizing cleanliness drives in public areas such […]

Japan’s biggest utility firm to invest in low-carbon hydrogen projects in Middle East 

Japan’s largest utility, JERA, seeks opportunities to invest in low-carbon hydrogen and ammonia projects in the Middle East and intends to purchase their output. JERA […]

World will use 100 million barrels of oil a day by 2040, says TotalEnergies CEO 

TotalEnergies SE Chief Executive Officer Patrick Pouyanne emphasized the importance of preparing for a warmer climate, noting that global oil consumption could still exceed 100 […]

Barclays says more money needs to go towards transition finance 

Barclays Plc suggests that additional funding should support climate transition projects that are too sophisticated for venture capitalists and too new for infrastructure investors. According […]

Solar power boosts India to record renewable energy growth

According to Rystad Energy, India achieved its highest annual installed renewable energy capacity of 18.5 gigawatts (GW) for the fiscal year ending March 31, 2024. […]

Climate finance veteran Tim Newell drives spin-off of Aspiration’s green financial services unit

Tim Newell, a seasoned expert in fintech and sustainability, has partnered with climate finance firm Aspiration Partners, Inc., to separate Aspiration’s green consumer financial services […]

Fossil fuel investment prompts lawsuits from US university students

Organizers from Columbia University, Tulane University, and the University of Virginia have contacted attorneys general, arguing that their universities’ investments in fossil fuels violate the […]

Parts of US face worst air quality in 25 years, report says 

A recent report released on Wednesday reveals that approximately 44 million Americans reside in cities or counties where air quality has reached its lowest point […]

Japan to rely on seagrass for carbon capture

100 volunteers gathered on a popular beach in the Japanese port city of Yokohama to plant eelgrass in the shallow waters. Originally a local initiative […]

Scotiabank’s 2024 Net Zero Research Fund calls out for grant submissions

Scotiabank, one of Canada’s largest multinational banking firms in Toronto, revealed its call for grant submissions. The Net-Zero Research Fund is open to organizations within […]

Australia’s Macquarie launches $1.5 billion Indian EV financing platform

The Australian financial giant Macquarie Group has revealed its initiative to establish an electric vehicle (EV) financing platform to revolutionize India’s transportation industry.  Macquarie’s latest […]

Bhutan, Tiger Conservation Coalition to raise $1 billion for tiger protection

The Sustainable Finance for Tiger Landscapes Conference ended positively, a landmark event for global conservation. Her Majesty The Queen of Bhutan inaugurated the conference, championing […]

Carbon removal registry reaches breakthrough by certifying first project

The newly launched Carbon Removal Registry Isometric made its debut on Monday, issuing its first credits to the Frontier fund led by Stripe.  While the […]

Enel raises coupons on $11 billion ESG bonds after missing emissions targets

Enel SpA will increase the interest payments on its sustainability-linked bonds following a penalty triggered by its failure to meet greenhouse gas emissions targets in […]

Fed to implement Clean Electricity Investment Tax Credit

The federal government is set to advance the Clean Electricity Investment Tax Credit (Clean Electricity ITC), initially proposed last year. This initiative entails a 15% […]

Biden-Harris administration announces first recipients of $1.93 billion clean energy manufacturing investment

The Biden-Harris Administration has revealed the first recipients of significant investments in clean energy manufacturing. As a component of the comprehensive Investing in America agenda, […]

Europe’s heatwave difficult for human body to cope, scientists say

According to the EU’s Copernicus climate monitoring service and the World Meteorological Organization, as climate change drives temperatures higher, Europe is experiencing more frequent and […]

PM Sunak must do more to tackle climate change, advisory body says

The head of the UK government’s advisory body has stated that Prime Minister Rishi Sunak needs to ramp up efforts in addressing climate change, particularly […]

Leaders gather in Canada to discuss global plastic treaty

World leaders will convene in the capital of Canada this week to discuss the advancements made in drafting the first global treaty on curbing the […]

Basic Energy and Japan’s Renova join forces for wind project

Basic Energy Corp. solidified its collaboration with Japan’s Renova Inc. through a joint development and shareholder agreement concerning the Mabini wind project, which is projected to require an investment of P4.5 billion.

Investor returns could suffer from low renewable energy prices, EU energy chief warns 

Speaking at the Irena Assembly in Abu Dhabi on Wednesday, EU energy commissioner Kadri Simson said that reducing European electricity prices could bring down returns for investors and producers. 

UN’s Net-Zero Alliance releases ambitious protocol to halve emissions by 2030

The UN-led Net-Zero Asset Owner Alliance launches the fourth edition of its Target-Setting Protocol. Covering most major asset classes for the first time, it will guide emission reduction efforts over the next five years, aiming to halve emissions by 2030.

Biden to announce winners of $2 billion in green tax credits 

Siemens Energy Inc., a renewable energy firm, and Danish electrolyzer manufacturer Topsoe A/S are among the numerous recipients poised to benefit from approximately $2 billion in clean energy tax credits, slated for announcement by the Biden administration on Friday. 

Banks wake up as physical risks of climate change rapidly grow

As banks strive to limit global warming to 1.5°C, they face increasing financial risks. With each temperature rise, the threat of economic upheaval grows, challenging the financial sector's stability.

Scotiabank issues first €1 billion green bond in European market 

Scotiabank has launched its first-ever €1 billion, 5-year senior fixed-rate green bond in the European market. This issuance aligns with Scotiabank's Sustainable Issuance Framework, released on April 5, 2024. 

EPA establishes national limits on ‘forever chemicals’ in drinking water 

The Environmental Protection Agency (EPA) has set nationwide restrictions on six varieties of perfluoroalkyl and polyfluoroalkyl substances (PFAS) in drinking water, marking the first time such limits have been established.

Apple to expand its clean energy investment by 2030

Apple announced its decision to ramp up clean energy initiatives worldwide towards achieving carbon neutrality across its operations by 2030. 

White House renews talks on declaring climate emergency

White House officials are revisiting the possibility of declaring a national climate emergency, a groundbreaking action that could grant federal powers to limit oil development. 

Climate change to cause $38 trillion losses a year by 2049

Climate change is projected to cause annual economic losses totaling $38 trillion by 2049, according to findings from the Potsdam Institute for Climate Impact Research (PIK). This will occur as extreme weather events disrupt agricultural output, diminish labor productivity, and damage infrastructure.

Kenya’s carbon credits attract attention from Netflix, Apple, Shell

According to a new report by the World Bank, companies like Netflix, Apple, and Shell are investing in Kenya's carbon credits. Kenya is Africa's second-largest voluntary carbon market (VCM) credit issuer, following the Democratic Republic of the Congo. 

Green data centres help drive investments in Southeast Asia, new report says 

A report released Monday highlights a notable rise in green investments across Southeast Asia in 2023, driven partly by green data center projects. However, the report notes that funding remains insufficient. 

Smart energy company completes Series C funding of $55 million 

GridBeyond, a smart energy company, has completed a Series C funding round of €52M ($55 million). This funding will aid the company in scaling up its operations, supporting international expansion, significantly growing its presence in the US, and continuing investment in research and development to contribute to a zero-carbon future. 

Dubai comes to a standstill as cloud seeding causes heavy rains, floods

Torrential rains have caused flooding across the United Arab Emirates, leading to flight cancellations, school closures, and traffic jams. The heavy rainfall is partly due to cloud seeding. 

Germany’s coal mines emit more methane than reported, study says 

According to a recent analysis by Ember, German coal mines emit significantly more methane than officially reported to the United Nations. 

Industrial gas manufacturer receives funding to build hydrogen refueling stations in Germany

On Monday, Air Products and Chemicals, an industrial gas manufacturer based in Pennsylvania, announced that it had secured funding to construct two hydrogen refueling stations in Germany. 

Singapore’s carbon management firm and Malaysian University collaborate to spearhead carbon projects 

Universiti Teknologi Malaysia (UTM) and Climate Resources Exchange International (CRX) from Singapore have signed a Memorandum of Understanding (MoU) to lead carbon-related projects in Malaysia. This partnership aims to harness the strengths of both countries to tackle urgent climate issues effectively. 

India’s Mahindra Group to invest ₹1,200 crore in hybrid solar, wind project 

On Monday, Mahindra Group declared a Rs 1,200 crore investment in renewable energy projects in India, including a 150 MW hybrid project combining solar and wind energy. 

Mexico’s presidential candidate vows $13.6 billion to boost the nation’s renewable energy 

The frontrunner for Mexico's presidency, Claudia Sheinbaum, has proposed a plan to allocate approximately $13.6 billion towards expanding the country's use of renewable energy while also introducing new gas-powered plants. 

Azerbaijan to address disagreements on climate finance at COP29 

The Presidency has begun preparations for the upcoming UN climate talks in Baku this November. Officials from Azerbaijan, the host nation, note early disagreements among states and parties regarding the summit's main focus, climate finance. 

EU, UK continue to lead G20 in low-carbon policies: report 

Since the first edition in 2021, the EU and the UK have consistently held the leading positions in BloombergNEF's assessment of the Group of 20's low-carbon policy frameworks, and this trend has continued into the present year. 

India braces for soaring temperature as parts of the nation already hit 42°C

India is preparing for a temperature surge in the upcoming weeks, which could strain power grids and endanger lives, especially as election rallies increase. 

Biodel Ag, Carbon Asset Solutions partner to deliver accurate carbon credit measurement and regenerative programming 

Biodel Ag, a US company specializing in regenerative agriculture carbon projects, has partnered with Carbon Asset Solutions Ltd., a carbon registry and MRV provider. Together, they will offer precise carbon credit measurement and regenerative carbon programming as a comprehensive service. 

Climate advocates push Japan’s top banks for stricter board oversight

Climate groups, including Australia's Market Forces, Japan's Kiko Network, and a representative from the Rainforest Action Network, have submitted shareholder proposals to Japan's leading banks, including Mitsubishi UFJ Financial Group.

Debt-for-nature swaps could generate $100 billion for climate battle: report

A recent report by the International Institute for Environment and Development (IIED), a UK-based non-profit organization, suggests that debt-for-nature swaps could potentially yield $100 billion to combat climate change. 

Trump victory no threat to ESG funds, assures Impax CEO

Ian Simm, founder and CEO of Impax Asset Management, believes that investment funds emphasizing environmental, social, and governance (ESG) factors can withstand a potential victory by Donald Trump in the upcoming US Presidential election.

Oklahoma sues two energy companies, accusing them of manipulating natural gas prices 

According to a press release from the Oklahoma Attorney General's office on Wednesday, the state has filed a lawsuit against two energy companies, alleging manipulation of natural gas prices during Winter Storm Uri in 2021.

US achieves clean energy milestone on public lands

On Thursday, the Biden administration announced that the United States had surpassed its target of permitting over 25 gigawatts of clean energy projects on public lands by 2025. 

Leaders under pressure to resign as SBTi alters carbon credit guidelines

The board and CEO of the Science Based Targets initiative faced calls to step down following changes to the United Nations-backed guidelines on companies' usage of carbon credits.

Japan’s greenhouse gas emissions drop to record low

Government data revealed that Japan experienced a 2.5% decline in greenhouse gas emissions, reaching a historic low during the fiscal year ending in March 2023. This reduction was attributed to decreased emissions within the industrial and service sectors.

Technology provider releases first sustainability report

Tango has taken a significant step in its sustainability efforts by releasing its first Sustainability Report for 2023. In this report, Tango has outlined its ambitious goal of achieving carbon neutrality by 2030, positioning itself as a leader among real estate technology providers.

Global carbon credit market to hit $84.4 billion by 2050

As efforts to combat climate change intensify, there are currently 73 carbon pricing mechanisms in operation worldwide as of April 1, 2023. These mechanisms collectively cover a significant 23.04% of global greenhouse gas emissions. 

EPA decision on California EV rules upheld by US court

On Tuesday, a US appeals court upheld the Environmental Protection Agency's ruling, allowing California to establish its regulations for tailpipe emissions and electric vehicle standards. 

EU pushes back against Chinese clean-tech investments, favors local suppliers

The European Union intensified its scrutiny of Chinese clean-tech investments, raising concerns about the potential displacement of local suppliers as part of EU initiatives to transition towards a green economy. 

US EPA introduces rule on cutting chemical plant pollution

On Tuesday, the US Environmental Protection Agency officially enacted a regulation to diminish cancer-causing toxic air emissions from chemical plants. This rule mandates regular monitoring of air quality to safeguard nearby communities.

Chevron to invest in ION Clean Energy, aims at carbon capture tech 

Chevron New Energies (CNE), a division of Chevron Inc., has invested significantly in ION Clean Energy (ION), a technology company based in Boulder. ION specializes in post-combustion carbon capture technology using its ICE-31 liquid amine system. 

US SEC pauses climate disclosure mandates for pending judicial review

Amid political criticism, the US Securities and Exchange Commission (SEC) has postponed implementing new climate-related disclosure requirements, citing pending judicial review. 

Fed will resist political pressure to pursue green goals: Powell 

During his address at Stanford University on Wednesday, Fed Chairman Jerome Powell stressed that the Federal Reserve is not a climate regulator and will firmly oppose any attempts to compel it towards green objectives. 

GCM strengthens real estate investments team 

Greenbacker Capital Management (GCM) has bolstered its real estate investments team with the appointment of Evan Sherman as Head of Real Estate Acquisitions, underscoring its commitment to sustainability-driven investment strategies. Sherman's addition reinforces GCM's focus on acquiring undervalued real estate for distributed generation, storage, and EV charging infrastructure, as part of its fourth sustainability-driven investment strategy.

Renewable energy growth falls short of climate targets, says leading think tank

According to a report released on Thursday by the prominent think tank REN21, the global addition of renewable energy capacity fell short of the necessary levels to meet climate objectives. 

Investors show a growing appetite for environment-conscious companies 

Amidst a changing landscape in investment strategies, sustainable investing emerges as a compelling avenue for those seeking broader objectives beyond mere financial gain in portfolio building. 

US Treasury Chief hints at action against China’s clean energy surge

On Wednesday, US Treasury Secretary Janet Yellen did not dismiss the possibility of taking further measures to safeguard American clean energy sectors against China's overinvestment and production capabilities. 

Citigroup, JPMorgan, Royal Bank of Canada to disclose a new climate metric under agreements with New York City

Citigroup, JPMorgan, and the Royal Bank of Canada (RBC) will introduce a new climate measure under deals by New York City Comptroller Brad Lander. 

Australia to invest $1 billion in solar panel manufacturing

Australian Prime Minister Anthony Albanese has unveiled the Solar Sunshot program to bolster the nation’s renewable energy sector and create job opportunities in regional areas. This initiative aims to propel Australia towards becoming a renewable energy powerhouse, both domestically and internationally.

Power supplier TVA to shut down 9 coal-fire plants, rebuild energy complex

In a press release on Tuesday, power supplier Tennessee Valley Authority (TVA) announced its decision to retire the Kingston Fossil Plant and construct an energy complex at the site by the end of 2027. 

EVs to overtake petrol cars in Norway by end of this year 

According to calculations by Reuters and analysts, Norway is on course to have more battery electric vehicles (BEVs) on its roads than petrol cars by the end of this year or early 2025, marking a historic milestone for any nation. 

EU’s $43 billion fund to be the high-stakes bet on Europe’s climate targets

Early outcomes from the European Union's Innovation Fund, a €40 billion ($43 billion) investment initiative pivotal to Europe's zero-carbon economy goals by mid-century, are surfacing. 

Taiwan hit by the strongest earthquake in a quarter of a century; triggers tsunami warnings

Taiwan experienced its most powerful earthquake in twenty-five years, which collapsed numerous buildings on the eastern side of the island, injured over 50 people, and disrupted certain chip production lines.

Asset management firm to lead $50 billion investment in offshore wind project 

Through its offshore wind unit Corio Generation Ltd., Macquarie Asset Management is investing $50 billion in offshore wind projects across various markets over the next seven years. 

Malaysia’s Petronas and JERA signs agreement for carbon capture study

Malaysia's state-run energy firm Petronas announced on Tuesday a partnership with Japanese power generation company JERA to assess the viability of the carbon capture and storage (CCS) process. 

Swedish steelmaker to invest $4.8 bln mln in fossil-free steel mill

Sweden’s SSAB announced on Tuesday that it plans to invest 4.5 billion euros ($4.83 billion) in constructing a fossil-free mini-mill in Lulea. 

31 countries hit 5% EV sales, signaling mass adoption: analysis 

According to a Bloomberg Green analysis, electric vehicles have reached a pivotal tipping point globally, with 31 countries surpassing the threshold of 5% of new car sales being purely electric, marking the beginning of mass adoption and rapid shifts in technological preferences.

Goldman Sachs Renewables MN8 raises $325 million funding

MN8 Energy, a producer of solar energy and energy storage, announced it had secured $325 million through a private placement of convertible preferred stock. The funds will fuel the company's growth and expansion efforts.

China’s power firm revamps natural gas business post solar spin-off

GCL Holdings, a privately owned Chinese energy company, is shifting its focus to developing a natural gas business. According to company executives interviewed by Reuters, it's selling off many solar installations to invest in gas import capabilities and trading operations. 

Climate-driven Amazon drought spurs devastating wildfires in Venezuela

On Monday, data showed Venezuela facing a surge in wildfires due to a drought linked to climate change in the Amazon rainforest region.

JX Nippon and Chevron sign MOU to explore CCS collaboration

In a significant move towards advancing lower carbon solutions, JX Nippon Oil & Gas Exploration Corporation and Chevron New Energies, a division of Chevron U.S.A. Inc., have inked a Memorandum of Understanding (MOU). This agreement sets a framework to evaluate the export of carbon dioxide (CO2) from Japan to carbon capture and storage (CCS) projects in Australia and across the Asia Pacific region.

India’s hydropower plummets to 38-year low amid erratic rainfall, leading to CFPP dependence

According to a Reuters analysis of government data, India experienced its most significant decline in hydropower output in at least 38 years, with a 16.3% decrease during the fiscal year ending on March 31. This drop was attributed to erratic rainfall patterns, which increased dependence on coal-fired power generation to meet increased demand.

Citi says 40% energy clients lack greenhouse gas reduction plans

Nearly half of the energy companies Citi Bank provides lending to lack strategies for reducing greenhouse gas emissions, as disclosed in a climate report released by the fourth-largest U.S. bank on Thursday.

The focus of govt incentives will go into green mobility: Hitachi Energy Chairman

Global investment in clean energy has surged to unprecedented levels, reaching a staggering US$1.77 trillion, as revealed by the latest Energy Transition Investment Trends 2024 findings. This represents a remarkable 17% increase over the past year alone.

US finalizes tighter tailpipe emissions standards for heavy-duty vehicles

On Friday, the US government announced it was in the final stages of implementing more stringent tailpipe emissions standards for heavy-duty vehicles such as semi-trucks and buses. However, these revised regulations are not as stringent as initially proposed in 2023.

US landfill methane output underestimated by 40%: study

A recent study published in Science reveals that methane emissions from prominent US landfills are, on average, 40% higher than previously documented. Utilizing aerial surveys, scientists identified point source emissions from numerous waste sites. 

Solar industry set to soar as US grapples with insatiable energy needs

As Dan Shugar, the CEO of Nextracker Inc., stated, the unyielding demand for electricity in the United States is poised to overshadow obstacles confronting the solar industry, driving an unprecedented surge in panel installations. 

New York set new records for hourly wind and solar generation

On Monday, New York's power grid operator announced that the state achieved new hourly wind and solar generation records.

Shipping industry faces regulatory hurdles in the race to decarbonize

Global shipping companies are feeling mounting pressure to reduce their carbon emissions. However, executives point to the complexity arising from vague regulatory frameworks, especially regarding selecting cleaner fuels for large vessels, hindering progress towards achieving net zero emissions. 

China faces infrastructure strain amid record solar and wind installations

Following a surge in solar and wind power installations last year, multiple regions across China are experiencing difficulties managing fluctuations in electricity supply linked to weather conditions. 

New study reveals 80% of sustainable bonds fail to meet global climate goals

New research from the investor-oriented nonprofit Climate Bonds Initiative (CBI) indicates that over 80% of the 768 sustainability-linked bonds issued between 2018 and November of the previous year do not conform to global climate objectives.

EU countries call for urgent revision of anti-deforestation law

According to a document examined by Reuters on Monday, a coalition of EU nations, led by Austria, is urging immediate revisions to the bloc's forthcoming anti-deforestation legislation, expressing concerns about its potential adverse effects on European farmers. 

NATO debuts as a climate tech investor 

NATO, the military alliance, has ventured into startup acceleration with its Defense Innovation Accelerator for the North Atlantic (DIANA) program, an initiative to foster technological advancements within the military alliance. 

Biden administration to invest $6 billion in industrial decarbonization projects

The US Department of Energy (DOE) announced the selection of 33 projects slated to receive funding of up to $6 billion. These initiatives aim to advance technologies that significantly reduce emissions in challenging-to-decarbonize industries, including chemicals, steel, food, refining, cement, and more.

Regulators address seabed mining challenges amidst EV battery material extraction from oceans

A marine scientist has emerged as a potential new leader for the International Seabed Authority (ISA), signalling a possible shift in the organization's approach to regulating deep-sea mining. 

Audubon Zoo teams up with Entergy & NASA for ‘Party for the Planet’

In collaboration with conservation allies such as Entergy and NASA, Audubon Zoo is set to host "Party for the Planet: Spring into Action," marking the commencement of Audubon's series of initiatives dedicated to enhancing the well-being of nature and wildlife. 

Real estate investors grapple with CO2 shock, turn to lawyers

Real estate investors, already struggling with high interest rates, are now confronting the potential for substantial losses prompted by recent European regulations.

Green jobs rise as sustainability investments grow: report

According to a 2024 Capgemini report on global investment trends, more than 52% of organizations are projected to boost their investments in sustainability within the next two years.

Invesco unveils $2.1 billion fund tackling water scarcity, attracting investor interest

On World Water Day, analyst Mahi Roy highlighted five US-based funds and several companies dedicated to enhancing water access quality and tackling various water-related challenges. 

US judge issues temporary block on $649 million clean energy transmission line

According to attorneys involved in the case, a federal judge, on Friday, temporarily blocked a land swap needed before developers can build a major clean energy transmission line through a Mississippi River wildlife refuge.

AI is a key tool in businesses reducing carbon footprint: Tim Cook

During a climate change dialogue at the China Development Forum, Tim Cook, the CEO of Apple Inc., emphasized the importance of artificial intelligence (AI) in aiding businesses to reduce their carbon footprint. 

Study links West Africa’s intense February heatwave to human-caused global heating

A scorching heatwave that hit West Africa in February has been determined by a study to have been intensified by 4 degrees Celsius and made 10 times more probable due to human-induced global heating.

Fossil fuel firms could face homicide charges for climate-related deaths

A groundbreaking legal theory is gaining traction among researchers, suggesting that fossil fuel companies, identified as the primary contributors to planet-warming emissions, could be held accountable for these climate-related deaths. 

HSBC, NatWest face allegations of funding North Sea oil extraction, contradicting their earlier pledge

Two prominent UK high street banks stand accused of continuing to finance the expansion of fossil fuels in the North Sea despite having pledged to align their operations with the net zero climate target.

Highly accurate AI model by Google to predict floods in advance 

Globally, climate change is exacerbating the frequency and severity of flooding events. However, artificial intelligence (AI) holds promise in mitigating some of these impacts by being trained to offer precise warnings, even in flood-prone areas lacking traditional water gauges.

Multilateral lender approves $85 million investment for North Macedonia CFPP transition

The Climate Investment Funds (CIF), a multilateral lender, announced on Wednesday its approval of an $85 million investment aimed at assisting North Macedonia in transitioning away from coal-fired power plants (CFPP) towards renewable energy sources. 

Chevron resolves Kern County oil spills with $13 million settlement

According to the California natural resources agency on Wednesday, Chevron has agreed to settle with two California state agencies for previous oil spills in Kern County, Bakersfield, for $13.1 million. 

US raises alarm over foreign hackers carrying out cyberattacks on water systems

In a letter made public on Tuesday, National Security Advisor Jake Sullivan and Environmental Protection Agency Administrator Michael Regan cautioned state governors about disruptive cyberattacks conducted by foreign hackers targeting water and sewage systems across the nation. 

Australia faces urgent need for investment to prevent energy shortfalls, grid operator warns

According to the grid operator, Australia, a major natural gas exporter, urgently needs investment to avert shortages in several densely populated regions starting in 2025 and to facilitate the growth of renewable energy.

Morgan Stanley’s asset management arm eyes $1 billion for energy shift investments

According to individuals familiar with the situation, Morgan Stanley's asset management division intends to secure a minimum of $1 billion for a new fund focused on energy transition investments.

The world is ‘losing the battle’ against electronic waste: UN says 

On Wednesday, a UN expert warned that the global struggle against electronic waste is faltering. This caution comes in the wake of a report revealing that a staggering 62 million metric tons of mobile phones and devices were disposed of worldwide in a single year—a figure projected to rise by a third by 2030.

Biden’s latest move on auto emissions expected to spark surge in EV sales

On Wednesday, the Biden administration implemented strict tailpipe emission limits to curb pollution from the country's cars and light trucks. These measures are so stringent that automakers will be compelled to increase sales of electric vehicles and plug-in hybrid models. 

Swiss National Bank stands firm on investment policy despite climate change pressures

The Swiss National Bank (SNB) has reiterated its stance on environmental considerations, stating that it will not alter its investment strategies because of climate change. This decision continues its resistance to calls for a more proactive approach to addressing climate change.

Stellantis and California reach an agreement on vehicle emissions 

On Tuesday, Stellantis, Chrysler's parent company, and the state of California finalized an emissions agreement. This accord comes after Stellantis attempted to join an agreement between other automakers and the state in 2019, but it was unsuccessful.

UK bank funds Greensphere’s venture into nature, climate research

On Wednesday, Greensphere Capital announced that it had secured backing from the UK Infrastructure Bank (UKIB) for its first fund, which aims to commercialize nature and climate research conducted by leading bioscience and environmental science institutes in Britain.

Only 10 countries met air quality guidelines by WHO in 2023 

A recent analysis revealed that in the past year, only 10 nations and approximately 9% of cities worldwide met the air quality standards outlined by the World Health Organization concerning harmful fine-particle pollution, known as PM2.5.

Air New Zealand explores partnership for green fuel supply to meet net-zero goals

On Wednesday, Air New Zealand invited startups operating in the sustainable aviation fuel (SAF) sector to seek potential supply partners as part of its commitment to decarbonization and achieving its net-zero carbon emission targets. 

US-China take proactive steps in methane emission reduction, says US deputy climate envoy

According to the deputy US special envoy on climate change, cooperation between the United States and China regarding methane reduction is progressing. He highlighted an opportunity for Beijing to significantly reduce emissions from its extensive coal sector at minimal or no cost. 

Ed Miliband warns of Sunak and ministers dividing over UK’s net zero goal 

In a speech, Ed Miliband, Labour shadow energy minister, warned that Sunak and other ministers are fueling division over the UK's net zero target rather than addressing the urgent climate crisis.

World’s largest solar manufacturer to slashes one-third of workforce

The largest solar manufacturer globally has decided to downsize its workforce by almost a third following an unsuccessful cost-cutting initiative, which included instructing employees to print only in black and white. This move comes as concerns grow within the renewable energy sector.

Hedge fund veteran proposes carbon footprint strategy for banks

To tackle climate change, alternative investment expert Andrew Hohns is pioneering a strategy to help banks slash their carbon footprint. Formerly of Mariner Investment Group and leading Newmarket Capital, Hohns is actively engaging with multiple banks to introduce this innovative approach.

Germany & Canada agree to kickstart trade of hydrogen 

Canada and Germany have agreed on steps to promote the trade of hydrogen, a cleaner alternative to fossil fuels. Both countries will contribute €200 million ($217 million) to bilateral hydrogen auctions. 

Britain’s National Grid proposes $74 billion energy system upgrade 

Britain's National Grid has proposed a £58 billion ($74 billion) investment plan to enhance grid networks beyond 2030, anticipating the growth in electricity demand and the rise of renewable energy projects. 

China falls short of reaching 2025 green steel goals

Researchers, on Tuesday, said that China is not meeting expectations in reducing the carbon footprint of its vast steel industry. They attributed this shortfall to declining demand, inadequate recycling rates, and persistent worries about excess production capacity, all of which impede the shift towards cleaner production methods. 

Transition finance key to achieving Southeast Asia’s net-zero goals, says experts 

Experts suggest that Southeast Asia has the potential to lead the global push towards achieving net-zero emissions, contingent upon the region's ability to secure over US$50 billion in capital for funding the green transition. 

Building Information Modelling tech to develop sustainable projects in real estate 

Building Information Modelling (BIM) is emerging as a highly influential initiative for creating sustainable real estate projects. BIM involves designing projects based on models incorporating physical and functional aspects, aiming for environmental sustainability. 

Britain’s home heating emission goals stalled by lack of heat pump uptake: report

Most of Britain's homes use gas for heating, contributing about 18% of the country's total greenhouse gas emissions. The government aims to reduce these emissions by replacing gas boilers with electric heat pumps. 

US appeals court temporarily halts SEC climate disclosure rules

On Friday, a US appeals court temporarily halted the implementation of new Securities and Exchange Commission (SEC) rules mandating public companies to disclose climate-related risks. 

Exxon CEO takes aggressive climate stance amid industry boom

Darren Woods, the CEO of Exxon Mobil Corp., is fighting back after facing criticism from both environmentalists and investors during his seven years in charge. 

Top oil executives & ministers arrive at the world’s largest energy conference in Houston 

This week, oil industry leaders and government officials gather in Houston for a significant energy conference, encouraged by major mergers, stable oil prices, and less pressure to switch to cleaner energy.

US to invest in $750 million to reduce costs of clean hydrogen 

The US Department of Energy (DOE) declared its intention to allocate $750 million towards a series of projects with the objective of substantially reducing the cost of clean hydrogen. These initiatives will support advancements in electrolysis technologies and enhance manufacturing and recycling capabilities for clean hydrogen systems and components. 

CIWM launches new fund for circular economy businesses

The Chartered Institution of Wastes Management (CIWM) has introduced a new fund to assist circular economy businesses in their growth by providing "fully-funded brand communications, marketing, and design support".

Google joins US DOE with $35 million carbon removal credit pledge

Google unveiled a new pledge to secure a minimum of $35 million worth of carbon removal credits within 12 months. This commitment is aligned with an initiative led by the US Department of Energy (DOE), which seeks to bolster the carbon removal sector by supporting its innovations and technologies.

Solar battery sales jump 26% in German households in 2024 

On Thursday, the industry association BVES announced that sales of home solar electricity storage batteries in Germany could increase by 26% this year, driven by a growing number of households choosing affordable and renewable energy sources. 

Antarctic scientists raise alarm on bird flu following confirmed cases in penguins

Antarctic scientists are issuing warnings about the transmission of a highly contagious H5N1 avian flu virus, initially identified on the continent's mainland last month and has since been found in local penguin and cormorant populations. 

US Chamber of Commerce files lawsuit against SEC over climate risk disclosure rules

On Thursday, the US Chamber of Commerce announced that it has initiated legal action against the US Securities and Exchange Commission's recently implemented regulations mandating public companies to disclose climate-related risks. 

Shell revises 2030 carbon emissions reduction target 

Shell announced on Thursday that it had revised its target to reduce the intensity of its overall carbon emissions by 2030, attributing this adjustment to anticipated decreases in power sales. 

Germany’s emissions goal demands sixfold surge in EV sales: study 

According to a study, Germany must experience a significant turnaround in the momentum of electric vehicle (EV) sales if it hopes to meet its emissions targets.

Banking climate coalition to report on capital markets related emissions

On Wednesday, a climate coalition supported by the United Nations and focused on banking released revised guidelines for its members. 

Texas fires release record carbon dioxide in January, February 

In January and February, extensive wildfires in Texas emitted 920,000 metric tons of carbon dioxide, marking the second-highest release for that period ever on record.

Apple suppliers to join its green investment fund

Taiwan Semiconductor Manufacturing Co. (TSMC) and Murata Manufacturing Co., suppliers to Apple Inc., are joining the iPhone maker’s green investment fund, bringing the total committed capital to $280 million.

US climate envoy urges Japan to accelerate renewables, offshore technology 

During his visit to Japan, John Podesta, the top US climate envoy, stressed the importance of speeding up the use of renewable energy, especially offshore wind technologies.

African nations block solar geoengineering proposal at UN Environmental Assembly

Last week, during the UN Environmental Assembly in Nairobi, African countries spearheaded a successful resistance against a proposed resolution by Switzerland. 

Waste-to-energy technology raises environmental concerns 

Waste-to-energy technology, a waste disposal method by incinerating materials like paper, plastic and wood, has created concerns among environmental groups method as a ‘quick fix’ to discard waste. 

Global investment firm appoints specialized team to identify climate transition opportunities 

Permira, a global investment firm, has established a dedicated team to identify investment opportunities in the climate transition sector. 

EU Parliament passes law to make buildings energy-efficient 

On Tuesday, the European Parliament passed new legislation mandating member states to accelerate building renovations to enhance energy efficiency and lower the EU's carbon emissions. 

Mango to choose adaptable clothing as climate change makes fashion less seasonal 

Mango, the Spanish retailer, is focusing on adaptable clothing to assist customers in coping with unpredictable temperature fluctuations due to climate change, according to Chief Executive Toni Ruiz in an interview with Reuters. 

US power consumption to reach record highs in 2024 and 2025: EIA

According to the US Energy Information Administration's Short-Term Energy Outlook released on Tuesday, power consumption in the United States is set to reach unprecedented levels in 2024 and 2025. 

Blended finance key for India’s $1 trillion climate targets

India requires approximately $1 trillion by 2030 to fulfill its climate change adaptation objectives. To mobilize private investments, India will need to pursue blended finance.

Climate fund investors, Microsoft pour $18 million into Konexa to launch Nigeria’s first renewable energy platform

Konexa, a UK-based integrated energy development and investment platform, has finalized financial arrangements and invested $18 million. 

Alberta’s ban on renewables could halt $8.24 billion funding: study 

According to a study released on Monday, Alberta's prohibition on select renewable projects could jeopardize investments worth C$11.1 billion ($8.24 billion) and impede the development of up to 6.3 gigawatts (GW) of solar and wind power capacity. 

Morocco allocates 1 million hectors to green hydrogen projects

On Monday, the Moroccan government announced its intention to allocate 1 million hectares to green hydrogen projects, with an initial phase starting at 300,000 hectares, to attract investors. 

Canada & US to review cross-border dispute over coal mine pollution

As announced on Monday, Canada and the United States have jointly agreed to assess a longstanding cross-border conflict concerning the contamination of coal mines in the Canadian province of British Columbia into US waters. 

Japan approves installation of offshore wind power in exclusive economic zones 

On Tuesday, Japan's government greenlit a proposed amendment to current laws, enabling the establishment of offshore wind power within exclusive economic zones (EEZ). 

EVs cannot fix ‘car harm’, study says 

While electric vehicles (EVs) promise cleaner air and reduced climate pollution, a recent analysis suggests that even a complete global transition to EVs would not mitigate all the detrimental impacts associated with cars and auto infrastructure.

Blended-wing aircraft pushes aviation towards net zero goals

In the history of aviation design, the landscape remained unchanged for a century, characterized by conventional tube-and-wing aircraft. Yet, amidst this conformity, 'flying wings' like the Northrop YB-49 and Northrop Grumman B-2 Spirit emerged, captivating enthusiasts with their sleek, futuristic profiles.

AI could fuel climate misinformation, not solutions, warn environmental groups

A coalition of environmental groups has cautioned against the notion that artificial intelligence will alleviate the climate crisis, warning that instead, it could contribute to increased energy consumption and accelerate the dissemination of climate misinformation. 

Europe not ready for accelerating climate risks, report says

The European Environment Agency (EEA) has issued its first risk assessment, indicating that Europe is not well-prepared for the quickly increasing climate dangers it faces.

Deforestation in Brazil’s Amazon rainforest fell 30% in February 

Government data released on Friday revealed a 30% decrease in deforestation across Brazil's Amazon rainforest in February compared to the previous year. 

Texas pushes back against EPA’s new methane rule

In a move against federal regulations, Texas, the largest energy-producing state in the nation, lodged a complaint urging a court to halt a recent rule introduced by the US Environmental Protection Agency to curb methane emissions from the oil and gas sector. 

Extreme heat causes mass coral bleaching of Great Barrier Reef, fifth one in eight years 

A government agency reports that a mass coral bleaching event has impacted Australia's Great Barrier Reef. The event was likely triggered by heat stress accumulated during the summer. 

US Treasury steps away from collecting insurer data on climate risks

The US government is shifting away from collecting data on home insurance prices and availability at the zip code level as premiums rise and climate risks to property increase. Instead, it will cooperate with state insurance regulators.

Rondo Energy partners with battery startup to cut Europe’s energy crisis

A fresh collaboration between a multinational energy corporation and a battery startup utilizing heated bricks could alleviate Europe's energy crisis and reduce carbon emissions.

Unilever announces new climate goals despite ESG concerns

Unilever Plc is setting more ambitious goals to reduce emissions, targeting suppliers and stores that sell its brands, despite investor concerns that non-financial goals divert the company's focus. 

Bengaluru’s acute water shortage hurts international firms

Bengaluru's severe water scarcity is impeding production at its garment factories, doubling restaurant water expenses, and compelling managers at certain global companies to address unconventional employee requests. 

Green groups slam SEC over exclusion of Scope 3 emissions in climate disclosure rule

The US Securities and Exchange Commission approved new climate disclosure requirements for public companies, part of the Biden administration's climate policy. 

Ocean temperatures hit a record high in February

In February, ocean temperatures reached an unprecedented peak, according to the European Union's Copernicus Climate Change Service (C3S). 

Tesla cuts ties with Australian auto lobby over fuel standards dispute

On Thursday, Tesla announced its decision to withdraw from Australia's major auto lobby and resign from its board, alleging that the organization had misled consumers regarding the government's proposed fuel efficiency standards and their potential influence on car prices.

GE’s energy spin-off expects offshore wind boost

During an investor day in New York, executives of General Electric's energy spin-off, GE Vernova, announced on Wednesday their anticipation of resolving a substantial backlog in offshore wind equipment, totalling approximately $4 billion, within the next two years. 

Republicans, industry groups file lawsuit against EPA over soot pollution rules

On Wednesday, a coalition of Republican-led states and industry groups filed three lawsuits contesting a recent US Environmental Protection Agency regulation strengthening air quality guidelines for soot pollution. 

US SEC adopts climate-related risk disclosure rules 

A West Virginia Attorney General's Office spokesperson announced on Wednesday that ten states led by Republicans have initiated legal action to contest new federal regulations mandating US-listed companies to disclose climate-related risks. 

US solar industry to benefit from Inflation Reduction Act this year

In 2024, the US solar industry is projected to maintain its growth, following its significant contribution of over 50% of new electricity capacity added to the grid last year. 

Apple pulls the plug on its EV building project 

According to reports, Apple has canceled its electric vehicle (EV) project, a decade after rumors first emerged about the iPhone maker's involvement in it. 

Brazil’s energy industry pushes for new hydroelectric plants despite climate concerns 

Brazil's energy sector is initiating a new effort to construct additional hydroelectric plants alongside the rising number of solar and wind power initiatives. However, past environmental issues could present political challenges. 

EU wins WTO battle over palm oil biodiesel

On Tuesday, the European Union succeeded at the World Trade Organization when a panel dismissed Malaysia's complaint against the EU's decision to exclude palm oil biodiesel from being considered a renewable biofuel. 

Singapore’s biggest bank grows sustainable financing to $52 billion in 2023

Singapore's largest bank, DBS Group, announced on Wednesday that it had increased its sustainable financing commitments by 37.3% to 70 billion Singapore dollars ($52.10 billion) as of the end of December, up from S$51 billion in 2022. 

US refiner joins Summit’s carbon capture project 

On Monday, Summit Carbon Solutions, an Iowa-based private company, announced that US refiner Valero Energy Corp would participate in its proposed carbon capture and storage project. 

Indian companies eye major investments in coal-fired power

Private Indian companies have shown interest in constructing at least 10 gigawatts (GW) of coal-fired power capacity over the next ten years, according to four sources familiar with the matter. 

Africa set to fall $2.5 trillion short of climate finance by 2030: UN

A UN official stated that Africa will lack $2.5 trillion in climate finance by 2030 despite contributing the least to greenhouse gas emissions and facing severe impacts. 

France aims to curb fast fashion’s environmental impact with penalties

French ruling-majority MPs propose a new bill suggesting penalties of up to 50% of the selling price for fast fashion brands like Shein. 

Climate tech firm trials fast-paying flood insurance in Africa 

Floodbase, a New York-based climate tech firm specializing in satellite flood tracking, announced plans to roll out parametric flood insurance for small farmers in Malawi and Mozambique, Africa, before the upcoming rainy season. 

Green bond sales hit record $54.7 billion in February, marks busiest month ever 

Green bonds, the largest type of sustainable debt, experienced their busiest February ever amidst a surge of global debt offerings.

EV boom will boost US lithium imports from Chile, says Yellen; eyes green transition

Janet Yellen, the US Treasury Secretary, expects that the growing demand for lithium, a crucial element in electric vehicle batteries, will significantly increase US imports from Chile in the coming years. 

MAN Energy Solutions to deliver first-ever ammonia-fuelled ship engine

MAN Energy Solutions intends to supply its inaugural ammonia-fueled engine for installation on a new vessel in Japan later this year, with plans to offer ammonia-powered machines to clients after 2027, as stated by its CEO Uwe Lauber. Ammonia is one of the alternative fuels shippers consider to decrease emissions. 

One-fifth of Mekong river fish species near extinction: report 

Unsustainable development threatens the health and biodiversity of the Mekong River, says a report from conservation groups revealing that one-fifth of the fish species in Southeast Asia's primary waterway are at risk of extinction. 

Invesco becomes the fifth major asset manager to exit climate investor group

On Friday, Invesco became the fifth prominent US investor to withdraw or reduce its participation in the Climate Action 100+ coalition of investors, advocating for significant polluting companies to decrease carbon emissions. 

California faces dangerous wind gusts, while Texas wildfires still keep burning

California and the US West still confront dangerous wind gusts and heavy snow until the week's start. Additionally, high winds increase fire dangers in the central US, notably in Texas, where the largest fire remains partially contained. 

Regulatory hurdles & greenwashing deter clients from $1.5 trillion ESG debt market

As highlighted by insiders, corporate clients are increasingly withdrawing from the world's second-largest ESG debt market due to added regulations, reduced incentives, and fears of greenwashing. 

Spanish bank to invest $54 million in solar energy venture in Spain, Italy

Spanish investment bank Banca March and its clients will invest €50 million ($54 million) in a clean energy initiative to construct 1.8 GW solar and solar-plus-storage plants in Spain and Italy. 

UK ministers accused of shifting aid funds to meet climate finance goals

Ministers face allegations of "moving the goalposts" to fulfill the UK’s global climate promises, as £1.7bn from the aid budget is redirected to environmental aid for poorer nations. 

Texas wildfire engulfs record 1.1 million acres, marks state’s largest blaze ever

A colossal fire rages across the Texas Panhandle and parts of Oklahoma, engulfing nearly 1.1 million acres (equivalent to 1,700 square miles) and becoming the largest fire in Texas history. 

BBVA to launch new global finance unit for clean technologies

BBVA of Spain will establish a new global finance unit focusing on clean technologies and innovation to grow its sustainable business, announced Chairman Carlos Torres on Thursday.

Cutting emissions is “essentially” the responsibility of G20 nations: UN Secretary-General

UN Secretary-General Antonio Guterres stated that cutting emissions is "essentially" the duty of G20 nations, the biggest polluters. He urged more challenging targets and fairer financing for countries most affected by climate change. 

Biden EPA trims power-plant rule, eyes future gas fleet restrictions

The Biden administration is refining its plan to reduce greenhouse gases from electricity and will set stricter pollution limits for natural gas plants. 

US SEC to vote on climate disclosure rules

The US Securities and Exchange Commission (SEC) will decide whether to implement rules mandating that US-listed firms disclose climate-related risks, the agency said in a notice on Wednesday. 

Global waste production to skyrocket by 2050: UN report 

By 2050, waste generated by the public will increase substantially, leading to hundreds of billions of dollars in damage due to biodiversity loss, climate change, and harmful pollution, according to a United Nations Environment Programme (UNEP) report released on Wednesday.

UK’s helium-filled aircraft begins safety approval process 

Britain's Hybrid Air Vehicles (HAV), a company working to enable travel on a large helium-filled aircraft by the end of the decade, announced Thursday that it had initiated the safety approval process with the UK regulator. 

New Zealand to review forestry costs in emissions trading scheme

The New Zealand government announced it will start an independent review of the expenses related to the forestry part of the country's Emissions Trading Scheme. 

EU’s corporate supply chain law stalls; faces backlash from member states

A law in the European Union aimed at improving corporate supply chains has been stopped by the largest member states, pushing negotiators to reassess the legislation. The Corporate Sustainability Due Diligence Directive (CSDDD) would make companies legally responsible for addressing environmental or human rights violations in their value chains. 

TotalEnergies and Chevron join methane abatement initiative for maritime sector

Energy giants TotalEnergies and Chevron, alongside major gas carrier Seapeak, have joined the Methane Abatement in Maritime Innovation Initiative (MAMII), led by SafetyTech Accelerator. The move, announced on Tuesday, highlights the initiative's growing importance in addressing methane emissions in the maritime sector.

EU eases gas consumption rules as energy crisis shows improvement

The European Commission urges EU nations to continue reducing gas usage but has made the policy voluntary, showing optimism that the worst of Europe's energy crisis has passed. 

Univers and Citi partner to enable seamless purchase of voluntary carbon credits

Univers, a prominent player in decarbonization technology, and Citi have joined forces to introduce an innovative software solution facilitating the seamless purchase of Voluntary Carbon Credits (VCCs) by organizations. 

Glencore to buy Shell’s Singapore assets as earlier suitors back out

Glencore, a Swiss miner and commodities trader, is considering purchasing Shell's oil refinery and petrochemical units in Singapore. 

Europe’s heat pump sales fall for the first time in 10 years, green policies among contributing factors 

Heat pump sales in Europe dropped last year, marking the first decline in ten years. Falling natural