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Shubhangi Singh

348 Articles

Shubhangi Singh is a climate journalist at Sustainability Economics News. Her areas of interest include carbon markets, nature investments, climate policies, and any and all human interest stories. She graduated with a degree in Political Science and has since explored the world of writing through multiple industries.

Calls mount for accelerated action on sustainable finance taxonomy in Canada

In two separate open letters released recently, advocates have urged the Canadian federal government to expedite the development of a sustainable finance taxonomy aimed at […]

Australian securities regulator urges firms to prepare for mandatory climate disclosure rules

Joe Longo, Chair of the Australian Securities and Investments Commission (ASIC), has underscored the necessity for Australian businesses to ready themselves for forthcoming mandatory climate […]

Biden administration announces $7 billion grants for residential solar projects on Earth Day

In a landmark move coinciding with Earth Day, the Joe Biden administration unveiled a $7 billion initiative aimed at facilitating the installation of residential solar […]

Climate bonds standard expands certification to promote deforestation-free agri-food chains

In response to the urgent need for sustainable agri-food systems amidst climate change and biodiversity loss, the Climate Bonds Standard has broadened its Certification to […]

Hyundai launches EcoGram in Gurugram

In a move towards environmental sustainability, the Hyundai Motor India Foundation (HMIF) has unveiled EcoGram in Gurugram, Haryana, showcasing its commitment to eco-friendly initiatives.  Operational […]

Passive funds may face hurdles in UK’s new green fund regime

Concerns are mounting that passive, index-tracking funds might be notably absent from the UK’s forthcoming “green” fund regime, according to a recent report from the […]

Southeast Asia has insufficient green investments: report

A recent report by global consultancy Bain & Company sheds light on Southeast Asia’s inadequate green investments, hindering efforts to reduce emissions in the region. […]

Otis receives approval for science-based GHG emissions reduction targets

Otis, an elevator and escalator manufacturing, installation, and service company in India, has announced the approval of its near-term science-based greenhouse gas (GHG) emissions reduction […]

SOCAR and bp showcase methane emission reduction efforts to industry representatives

Representatives from local oil and gas operators embarked on field visits to the Neftianye Kamni Oil Field and the Sangachal Terminal, organized by the State […]

Boeing partners with Wagner to boost SAF availability in Australia

Boeing has announced a strategic collaboration with Wagner Sustainable Fuels aimed at enhancing the availability of sustainable aviation fuel (SAF) in Australia. The partnership will […]

Study recommends China shift economic engagement with Africa towards energy access and transition

A new study conducted by Boston University’s Global Development Policy Centre and the African Economic Research Consortium suggests that China should redirect its economic engagement […]

JSW Energy secures letter of award for 700 MW solar project from NTPC

JSW Energy has announced that its subsidiary, JSW Neo Energy, has been awarded a letter of award from NTPC for the development of a 700 […]

Study reveals detrimental impact of Oklahoma’s EDEA policy on municipalities

A recent study conducted by the Oklahoma Rural Association sheds light on the adverse effects of Oklahoma’s Energy Discrimination Elimination Act (EDEA) on the state’s […]

New Zealand commits $25 million to ADB’s energy transition mechanism for Southeast Asia

New Zealand has pledged $25 million to the Energy Transition Mechanism Partnership Trust Fund (ETMPTF) of the Asian Development Bank (ADB), reinforcing efforts to foster […]

Controversial practice of ‘avoided deforestation’ in Amazon raises concerns

A recently published report by the Washington Post documented the practice of ‘avoided deforestation’ in a the heart of the Amazon rainforest.  The Peruvian timber […]

Holtec International sues New York State over nuclear waste discharge rules 

Holtec International, the company responsible for decommissioning the Indian Point nuclear power plant in New York, has filed a lawsuit against the state challenging its regulations on the discharge of radioactive materials from nuclear facilities. 

Study reveals alarming rates of subsidence in China’s major cities

A study utilizing nationwide satellite data, published in the journal Science, indicates that nearly half of China's major cities are experiencing "moderate to severe" levels of subsidence, with 45% of urban land sinking faster than 3 millimeters per year, and 16% sinking at rates exceeding 10 mm per year. 

Financial firms rally for treaty to combat plastic pollution ahead of global talks

Ahead of the upcoming fourth meeting of the Intergovernmental Negotiating Committee on Plastic Pollution (INC-4) in Ottawa, 160 financial companies are urging governments to establish a treaty aimed at ending plastic pollution. 

Higher interest rates threaten renewable energy sector

Analysts warn that the renewable energy sector faces significant challenges due to soaring interest rates, posing a threat to the worldwide transition to sustainable energy. 

Strategies for accelerated climate finance according to the World Economic Forum

As the urgency of climate change intensifies, governments worldwide are implementing policies to stimulate private climate finance. However, effective mobilization requires innovative strategies tailored to incentivize investment, promote accountability, and mitigate risks. Here are four key considerations mentioned in a World Economic Forum report:

ABB invests in GridBeyond to enhance energy management solutions

ABB has announced a minority investment in GridBeyond, a technology company specializing in energy management solutions driven by artificial intelligence and data science. 

Australia delays environmental law reforms, raising concerns for wildlife

The Australian government has backtracked on its commitment to reform environmental protection laws, indefinitely deferring necessary changes to the Environment Protection and Biodiversity Conservation Act. 

EU carbon price drop threatens funding for green tech

The European Union faces a potential shortfall in funding for green technologies as the price of carbon permits dropped significantly this year, affecting the EU Innovation Fund and low-carbon projects. 

UAE grapples with aftermath of record-breaking storm, flights disrupted

The United Arab Emirates (UAE) continues to confront the aftermath of a historic storm that struck earlier this week, severely impacting daily life and travel. 

Acre Impact Capital launch $100 million fund for climate-aligned infrastructure projects in Africa

Two former BNP Paribas bankers have spearheaded a new initiative, raising nearly $100 million for a fund aimed at catalyzing financing for climate-aligned infrastructure projects across Africa. 

Carbon capture faces doubts in steel industry’s green transition

A recent report from the Institute for Energy Economics and Financial Analysis (IEEFA) has cast doubt on the potential of carbon capture, utilisation, and storage (CCUS) to significantly reduce emissions in the global steel industry. 

Japan sets sights on ambitious renewable energy targets by 2040 

Japan is gearing up to establish ambitious targets for renewable energy and other sources in its national electricity mix by fiscal 2040, with plans to unveil these long-term goals in its new Strategic Energy Plan by March next year. 

Germany approves ambitious hydrogen pipeline network 

The German parliament, Bundestag, has given its approval for the construction of an extensive 9,700-kilometre pipeline network dedicated to transporting hydrogen across the nation and to neighboring countries, as reported by Der Spiegel. 

Sublime Systems receives potential $87 million funding for green cement production

Sublime Systems, a startup in the realm of sustainable construction materials, has been selected by the US Department of Energy’s Office of Clean Energy Demonstrations (OCED) to enter negotiations for a substantial funding package of up to $87 million. 

World Bank approves billion-dollar loan to boost Pakistan’s energy infrastructure

Pakistan's energy sector is poised for a significant transformation as the World Bank greenlights a billion-dollar loan aimed at funding energy projects within the country. This substantial financial backing is set to bolster Pakistan's energy infrastructure and propel its economic progress to new heights.

Biodel Ag and Carbon Asset Solutions forge carbon credit partnership

Biodel Ag, Inc., a US-based carbon project developer specializing in regenerative agriculture, and Carbon Asset Solutions Ltd. ("CAS"), a prominent carbon registry and MRV (Measurement, Reporting, and Verification) provider, have announced a strategic partnership. The collaboration aims to deliver accurate carbon credit measurement and advance regenerative carbon programming as an integrated service offering.

Maldives inaugurates ESG reporting framework for private sector

The Maldives has taken a significant step towards enhancing sustainability practices in its private sector with the development of the nation's inaugural Environment, Social, Governance (ESG) reporting framework for investments. Spearheaded by the United Nations Development Programme (UNDP) in partnership with the Capital Market Development Authority (CMDA) and advisory firm PlusValue, the initiative aims to fortify the country's financial market sustainably while preserving its diverse biodiversity.

Australia faces solar waste crisis as recycling facilities struggle to keep up

Australia is confronting a looming environmental challenge as the country is projected to generate over 50,000 tonnes of solar waste annually due to the rapid retirement of solar panels. The surge in retired panels, fueled by the nation's early adoption of solar energy, has outpaced predictions and sparked urgent calls for increased recycling facilities.

‘Old Wives’’ win against the Swiss government, explained

In a recent judgment by the European Court of Human Rights (ECtHR) in the case of Verein KlimaSeniorinnen Schweiz and Others v. Switzerland, the Court found a violation of Article 8 (right to respect for private and family life) and Article 6 & 1 (access to court) of the European Convention on Human Rights.

Analysis: the US needs $100 billion annually in carbon removal efforts by 2050

Rhodium Group report urges US gov to boost spending on carbon dioxide removal tech to $100 billion yearly by 2050 for extreme climate change mitigation.

Middlesex Water Company prepares for new EPA regulations on PFAS in drinking water

Middlesex Water Company in a recent announcement, reaffirmed its commitment to providing safe, clean, and reliable water services by proactively addressing the new national drinking water regulations for Per- and Polyfluoroalkyl substances (PFAS) announced by the United States Environmental Protection Agency (EPA) on April 10, 2024.

Arq positioned to benefit from EPA’s stricter regulations on PFAS contamination

Arq, a producer of environmentally efficient carbon products, anticipates a surge in demand following the Environmental Protection Agency's (EPA) announcement of enhanced regulations targeting per- and poly-fluorinated alkyl substances (PFAS) in drinking water.

Global Carbon Capture and Storage market primed for growth- study 

According to the report, as the world grapples with the urgent need to reduce carbon emissions and combat climate change, carbon capture and storage (CCS) emerges as a pivotal technology in the fight against global warming. CCS, a three-step process involving capturing, transmitting, and underground storage of carbon dioxide (CO2) emissions from industrial activities, offers a promising solution to mitigate the impacts of greenhouse gas emissions.

Parsons Corporation to assist clients in meeting EPA’s PFAS regulations

Parsons Corporation a prominent player in Per and Polyfluoroalkyl Substances (PFAS) investigation and remediation, reaffirms its commitment to aiding clients in addressing PFAS challenges and complying with the US Environmental Protection Agency's (EPA) groundbreaking national regulations for PFAS in drinking water.

EU lawmakers pass law to limit methane emissions from oil and gas imports

On Wednesday, European Union lawmakers approved a groundbreaking law aimed at curbing methane emissions from Europe’s oil and gas imports starting in 2030. This move […]

Clyde Hydrogen secures £1 million in funding to develop green hydrogen tech

Clyde Hydrogen, a green hydrogen startup, has received over £1 million in pre-seed funding to advance its pioneering technology poised to revolutionize the sector. The […]

Balkan countries look to the hydrogen boom to cut emissions

A discovery of hydrogen beneath the Bulqize chrome mine in Albania has stirred optimism for the region’s transition towards cleaner energy.  This revelation has prompted […]

Chile unveils plan to set up its first large scale SAF factory

Chile aims to begin production of sustainable aviation fuel (SAF) in a large plant by 2030, with the goal of using SAF for half of […]

Activists urge Apple to address detention of climate experts in Vietnam

More than 60 human rights and environmental organizations have called on Apple to take action regarding the detention of climate experts in Vietnam, a key […]

Analysis reveals England’s untapped potential for renewable energy

A recent analysis conducted by Exeter University, commissioned by Friends of the Earth (FoE), has unveiled that England has the capacity to generate 13 times more renewable energy than its current output, utilizing less than 3% of its land area.

Grid capacity challenges lead to increased curtailments of renewable energy in Germany

According to a report by news magazine Der Spiegel, Germany faced a surge in so-called re-dispatch measures in 2023 due to a lack of grid capacity. These measures, aimed at stabilizing the grid, often involve curtailing renewable power output, particularly when a sudden influx of renewable energy strains the grid. 

Watershed launches new software solution to aid compliance with EU’s CSRD

Watershed, a leading provider of climate solutions software, announced the introduction of "Watershed for CSRD," a cutting-edge software solution designed to assist companies in collecting and managing data for disclosure under the European Union's new Corporate Sustainability Reporting Directive (CSRD).

Adani Green Energy surpasses 10,000 MW milestone in renewable energy

Adani Green Energy Limited (AGEL), India's largest renewable energy giant, has achieved a historic milestone by surpassing 10,000 MW in renewable energy capacity. This accomplishment reflects the Adani Group's success and holds significance for India's renewable energy aspirations.

European Court rules Swiss government violated human rights in landmark climate case

In a landmark ruling with far-reaching implications, the European Court of Human Rights (ECtHR) has declared that the Swiss government failed in its duty to combat climate change effectively, thereby violating the human rights of its citizens. The verdict, announced on Tuesday, represents a significant victory for over 2,000 Swiss women, known as KlimaSeniorinnen, who brought the case to court.

Adani Group unveils approx. $30 billion investment plan for renewable energy expansion

The Adani Group has announced an ambitious investment plan totaling approximately Rs 2.3 trillion by 2030, marking India's most significant renewable energy expansion initiative to date. Despite facing challenges, including a short-seller attack, the conglomerate remains steadfast in its pursuit of rapid growth.

Delays in South Africa’s coal plant closures could lead to thousands of deaths, billions in health costs

A delay in the planned closures of coal-fired power plants in South Africa could have dire consequences, including thousands of deaths from air pollution and billions of dollars in health-related costs, a recent study by the Centre for Research on Energy and Clean Air (CREA) has revealed.

Chevron New Energies invests in ION Clean Energy’s carbon capture technology

Chevron New Energies, a division of Chevron USA Inc., has announced a significant investment in ION Clean Energy, a Boulder-based technology company specializing in post-combustion point-source carbon capture technology. 

Saudi Arabia’s Biofuel Company to triple refining capacity by 2025

The Biofuel Company in Saudi Arabia has unveiled plans to significantly boost its refining capacity, aiming to triple its output by 2025. This expansion initiative aligns with the company's commitment to supporting Saudi Vision 2030 and domestic sustainability objectives.

JSW Energy raises $65 million from institutional investors, including Abu Dhabi Investment Authority

JSW Energy Limited has successfully raised $65 million (Rs 5,000 crore) through a Qualified Institutions Placement (QIP), selling shares to institutional investors, including the Abu Dhabi Investment Authority (ADIA). The company aims to utilize the proceeds to accelerate its growth plans and bolster its capital structure.

US Federal Reserve blocks push for climate risk focus in financial rules

According to a Bloomberg report, the U.S. Federal Reserve has intervened to prevent a proposal by the Basel Committee on Banking Supervision that would have elevated climate risk as a key focus of financial regulations. The proposal suggested that banks disclose detailed information about the impact of climate change on their operations beginning January 2026, aiding investors and regulators in assessing risk management.

Ireland’s largest offshore wind project set to reveal final design

The final design for Ireland's largest offshore wind project, Codling Wind Park, is poised to be unveiled today. The project, located off the Co Wicklow coast between Greystones and Wicklow Town, is a joint venture between Fred Olsen Seawind and EDF Renewables.

Aker Carbon Capture advances decarbonization with projects in Norway 

Aker Carbon Capture (ACC) has secured a pre-FEED (Front End Engineering Design) contract for Statkraft's Heimdal waste-to-energy plant in Norway, targeting the capture of 220,000 tonnes of CO2 annually. This initiative aims to significantly reduce CO2 emissions, contributing up to 25% towards Trondheim municipality's emissions reduction goal.

ICVCM approves three certifiers meeting “high-integrity” criteria, Verra still under scrutiny

An international benchmark aimed at defining high-quality carbon offset projects has taken a significant step forward, with three major certifiers receiving approval from the Integrity Council for the Voluntary Carbon Market (ICVCM) on Friday.

Ingka explores offshore wind investments in South Korea and Japan

Ingka, the majority owner of IKEA stores globally, is venturing into renewable energy investments in South Korea and Japan, targeting offshore wind as the most viable option. Peter van der Poel, managing director of Ingka Investments, highlighted the company's commitment to decarbonization through renewable energy assets, particularly in Europe.

CIP invests £250 million in UK solar developer Elgin Energy

Danish renewable energy infrastructure investor Copenhagen Infrastructure Partners (CIP) has announced a significant investment of £250 million to acquire a majority stake in UK solar developer Elgin Energy.

Georgia Senators Warnock and Ossoff secure clean energy investments for rural communities

US Senators Reverend Raphael Warnock (D-GA) and Jon Ossoff (D-GA) unveiled a significant stride towards clean energy initiatives in rural Georgia. Through the U.S. Department of Agriculture’s Rural Energy for America Program (REAP), a slate of new federal investments will empower farmers and business owners to embrace solar and electric energy upgrades.

CapitaLand Investment’s climate resilience report flags coastal flooding as top risk

CapitaLand Investment's (CLI) inaugural standalone climate resilience report, released on April 1st, highlights coastal flooding as the most significant threat to its global portfolio of over 480 properties across 20 countries. The report, in line with Task Force on Climate-related Financial Disclosures (TCFD) guidelines, underscores CLI's commitment to climate-related disclosures since 2017.

CARB files motion to dismiss lawsuit challenging California’s climate disclosure rules

The litigation over California's climate disclosure rules, specifically Senate Bill 253 (Climate Corporate Data Accountability Act) and Senate Bill 261 (Greenhouse gasses: climate-related financial risk), has seen recent developments with the California Air Resources Board (CARB) filing a motion to dismiss the amended complaint against the two laws. 

Canadian airlines and shippers urge Ottawa for increased funding for sustainable transport initiatives

Airlines and marine shippers in Canada are urging the federal government to bolster funding for sustainable transport initiatives, with a focus on green supply chains and infrastructure upgrades. The calls come ahead of the federal budget scheduled to be tabled on April 16.

Maersk’s ECO Delivery Ocean product slashes 683,000 tons of GHG

In 2023, Maersk's ECO Delivery Ocean product achieved a significant milestone, with more than 660,000 twenty-foot equivalent units (TEU) transported on green fuels, resulting in a remarkable reduction of over 683,000 tonnes of greenhouse gasses (GHG). 

EU sustainability reporting standards could impact over 1,300 Canadian companies: report

The Institute for Sustainable Finance (ISF) has issued a warning that corporate sustainability reporting standards introduced by the European Union (EU) could have significant implications for more than 1,300 Canadian companies. 

GenZero and Allen & Gledhill call for legal clarity on voluntary carbon credits in Singapore

GenZero, a Temasek-owned investment platform focused on decarbonization, has partnered with leading law firm Allen & Gledhill LLP to release a legal paper advocating for action on the characterization of voluntary carbon credits (VCCs). 

Business schools embrace sustainability and cultural diversity to shape future leaders

The integration of sustainability principles and cultural diversity into business education is gaining momentum globally, driven by the United Nations 2030 Agenda for Sustainable Development and the recognition of their importance in shaping future business leaders.

German companies eager to invest in Vietnam’s sustainable development projects

During the Germany-Vietnam Business Forum, Alexander Ziehe, chairman of the German Business Association (GBA), revealed that several German companies are keen to invest in sustainable development projects in Vietnam, aligning with green policies and the goal of achieving net-zero carbon emissions.

Australian energy giant foresees green hydrogen as viable alternative to nuclear power

Amidst debates over Australia's energy future, one of the country's largest energy utilities, EnergyAustralia, is championing the potential of clean hydrogen as a viable alternative to nuclear power. CEO Mark Collette asserts that green hydrogen could replace natural gas in power plants within a decade, eliminating the need for costly nuclear generators.

Adani Green’s wind power project raises environmental concerns in Sri Lanka

Adani Green Energy's ambitious wind power project, valued at US$442 million, situated in Mannar and Pooneryn, is currently undergoing a technical review by the Sri Lanka Sustainable Energy Authority (SLSEA) following a public consultation process on its Environmental Impact Assessment (EIA).

NIKE sets new sustainability targets for 2025 

Global sportswear giant NIKE is ramping up its commitment to sustainability by announcing new targets aimed at reducing its carbon emissions across its business and supply chain. In its 2023 Impact Report, NIKE outlined significant progress made in key sustainability areas, including a remarkable increase in renewable energy usage and substantial reductions in carbon emissions.

Citi agrees to disclose clean energy financing ratios amid pressure from shareholders

Citi has joined JPMorgan Chase in agreeing to disclose its clean energy financing ratios, following pressure from shareholder resolutions. The New York City Comptroller’s Office, along with pension systems, filed a resolution prompting this move. 

Study finds Australia’s carbon offsets method failing to address climate crisis

A major study conducted by 11 academics has revealed that Australia's primary carbon offsets method, known as "human-induced regeneration," has largely failed to improve tree cover as promised, thus doing little to combat the climate crisis.

BlackRock CEO reaffirms investment in oil and gas amidst controversy

BlackRock CEO Larry Fink reiterated the firm's commitment to investing in oil and gas companies, emphasizing that they have never supported divesting from traditional energy firms. Fink's statements come days after a Texas retirement system withdrew $8.5 billion from BlackRock, alleging the firm's engagement in a "boycott" of the fossil fuel industry.

First Bus announces £89 million investment in zero-emission buses and infrastructure

First Bus has revealed plans for a substantial £89 million investment aimed at accelerating its transition to zero-emission buses and infrastructure across four regions. This initiative, supported by £16 million in funding from the Department for Transport’s Zero Emission Bus Regional Area (ZEBRA) scheme, is poised to revolutionize public transportation while significantly reducing carbon emissions.

US DOE initiates $1 billion investment for hydrogen-ready iron-making facilities

Climate advocates and community members applaud the US Department of Energy's (DOE) Office of Clean Energy Demonstrations for commencing initial award negotiations aimed at establishing the first hydrogen-ready iron-making facilities in the USA. The move signals a significant stride towards cleaner steel production, leveraging green hydrogen from renewable energy sources to reduce emissions.

New York achieves record wind and solar generation

New York State's power grid operator, the New York Independent System Operator (NYISO), reports significant milestones in renewable energy generation, with record-breaking hourly outputs from wind and solar sources. 

Adani Group unveils plan for world’s largest renewable energy park in Gujarat

In a recent announcement, billionaire Gautam Adani's conglomerate reveals plans for the world's largest renewable energy park in Gujarat, aiming for a colossal 45 GW capacity largely from solar sources. 

Walmart invests in 19 solar projects across US, partners with Pivot Energy 

In a move to bolster renewable energy initiatives, retail giant Walmart announced its investment in 19 solar projects developed by Pivot Energy, aimed at enhancing solar access across the United States. 

Africa’s ambitious plan to harness carbon markets for development

Africa, a continent blessed with vast green energy reserves, is gearing up to maximize its share in the booming global carbon credit market, which has reached a staggering $909 billion in the past year. With the launch of the African Carbon Markets Initiative (ACMI), Africa aims to tap into this lucrative market to fund its development projects while combating climate change and promoting sustainable growth.

Challenges abound for green investment trusts in Europe

Green investment trusts in Europe, such as London-listed Greencoat UK Wind and Octopus Renewables Infrastructure Trust, are facing headwinds as their share prices trade at significant discounts to their net asset values (NAVs). This trend poses challenges not only for the trusts themselves but also for renewable energy developers.

Vietnam receives $51.5 million payment for carbon credits from World Bank

Vietnam has achieved a significant milestone in its efforts to combat climate change, becoming the first country in the East Asia Pacific region to receive a payment of $51.5 million from the World Bank for verified emissions reductions. This payment, facilitated through the Forest Carbon Partnership Facility (FCPF), is a recognition of Vietnam's successful initiatives in reducing deforestation, forest degradation, and enhancing carbon storage through reforestation and afforestation.

Activists urge major banks to halt financing for controversial North Sea oil field

Over 80 organizations, including Make My Money Matter, Greenpeace UK, and Global Witness, have collectively penned letters to the chief executives of 12 major banks, imploring them to cease financing a company involved in the contentious development of the Rosebank oil field in the North Sea.

India braces for surge in solar waste amid renewable energy expansion

India's ambitious drive to ramp up its renewable energy capacity, particularly in solar energy, is poised to reshape its economy. However, alongside this growth comes the challenge of managing the resulting accumulation of solar waste.

Canadian Banks acknowledge challenges in green financing emission reductions

In a significant shift, some of Canada's largest banks have admitted that their investments in green financing may not lead directly to a decrease in emissions growth, as revealed by Reuters. This admission follows years of pressure from activists for greater transparency regarding the banks' climate objectives.

BNPP AM launches new fund targeting global net zero transition

Today, BNP Paribas Asset Management (BNPP AM) unveiled its latest offering, the BNP Paribas Global Net Zero Transition Equity fund, designed to provide investors with exposure to a decarbonization and sustainable investment-focused strategy. This active fund, classified as Article 8 under the EU’s SFDR regulation, aims to construct a high-conviction portfolio from over 1,000 global companies committed to achieving net zero emissions.

Biden administration reassures oil and gas executives amid LNG export pause concerns

The Biden administration aims to ease concerns among oil and gas executives regarding a pause on liquefied natural gas (LNG) exports from new projects, assuring them that the pause will be short-lived and will not hinder industry growth. The pause, announced in January by the Department of Energy, was initiated to evaluate the environmental and economic impact of the surge in LNG exports.

Singapore-backed climate action data trust boosts transparency in carbon credit trade

In just over a year since its launch, the Climate Action Data Trust (CAD Trust), supported by Singapore, has significantly enhanced the credibility of the carbon credit trade, covering 85% of all credits issued to date and aiming for further expansion in 2024.

Enpal secures EUR 1.1 billion to accelerate residential solar financing rollout

Enpal, a German solar solutions installer, has announced the successful procurement of EUR 1.1 billion (USD 1.2 billion) to expedite the deployment of its integrated financing solutions for residential solar and heat pump customers.

UBS names Jack Collings as Asia Pacific head of sustainability and climate risk

UBS, the investment banking group, has appointed Jack Collings as the head of sustainability and climate risk for Asia Pacific (APAC). Collings transitions into this role from his position as head of sustainability risk at Credit Suisse, which was acquired by UBS a year ago. He will be stationed in Singapore.

Axpo secures €7 billion sustainability-linked credit facility led by ING Switzerland

Swiss energy producer and trader, Axpo Holding AG, has finalized a sustainability-linked revolving credit facility (RCF) totaling €7 billion, with over 30 banks participating. ING Switzerland led the syndicate.

Survey reveals business skepticism toward carbon offsets

A recent survey conducted by the We Mean Business Coalition (WMBC) reveals that a majority of businesses are hesitant to enter the carbon offset market due to concerns about project credibility and reputational risk.

Canada’s carbon pricing increase sparks debate over affordability concerns

As Canada prepares for an increase in its carbon pricing system on April 1, provincial leaders express concerns about its impact on affordability, sparking a debate over the effectiveness of the policy in addressing climate change.

International Day of Forests 2024: Forests and Innovation

The International Day of Forests is celebrated on 21st March every year. The theme for International Day of Forests 2024, "Forests and Innovation: New Solutions for a Better World," underscores the critical role of innovation in tackling deforestation and promoting sustainable forest management.

Google commits $35 million to carbon removal credits, matching DOE initiative

Google has announced its commitment to purchasing $35 million in carbon removal credits, aligning with the Department of Energy's (DOE) carbon removal purchase program launched on the same day. This initiative invites organizations to make substantial commitments in the voluntary carbon market to accelerate its growth and impact.

New Energy Blue launches new subsidiary to accelerate decarbonization efforts

Today, New Energy Blue, a leading clean-energy developer specializing in low-carbon biofuels and biochemicals from crop residues, announced the establishment of its new subsidiary, New Energy Chemicals. This strategic move aims to advance the company's Decarbonizing America agenda by diversifying its portfolio and expanding into the production of biobased ethylene and sustainable aviation fuel (SAF). 

Germany calls for greater international cooperation to accelerate global energy transition

Germany's economy and foreign affairs ministers have emphasized the need for enhanced international cooperation to drive the global energy transition and meet climate targets effectively. Speaking at the Berlin Energy Transition Dialogue (BETD), the ministers highlighted Germany's progress in increasing renewable power capacity and emphasized the importance of coordinated efforts to transition away from fossil fuels worldwide. 

Billions invested in fossil fuels by local government pension schemes, analysis reveals

A recent analysis conducted by environmental campaign groups Friends of the Earth and Platform London has uncovered significant investments in the fossil fuels industry by local government pension schemes in the UK. 

CFC launches innovative carbon delivery insurance to boost voluntary carbon market

Specialist insurance provider CFC has made a significant entry into the carbon insurance market with the introduction of its pioneering product, Carbon Delivery Insurance. This groundbreaking offering is designed to address both the physical and political risks encountered by businesses engaged in purchasing voluntary carbon credits on a forward basis.

Major developments in SAFs marked by IATA

The International Air Transport Association (IATA) has reported significant advancements in the realm of sustainable aviation fuels (SAF), particularly focusing on electrofuels, in its latest 'Fly Net Zero Media Update' report.

UAE strikes 15-year LNG deal with Germany

In a significant move consolidating Europe's dependence on fossil fuels, the United Arab Emirates (UAE) has inked a deal to supply liquefied natural gas (LNG) to Germany for 15 years starting in 2028, as reported by Bloomberg. The agreement underscores the UAE's ambition to establish itself as a prominent energy supplier in the region.

EU urged to lead in strengthening carbon intensity indicator for shipping emissions

As delegates gather for the International Maritime Organization's (IMO) Marine Environmental Protection Committee (MEPC 81) in London, the focus turns to enhancing energy efficiency and cutting emissions in the shipping industry. At the forefront of discussions is the Carbon Intensity Indicator (CII), a crucial tool in global efforts to address climate change.

China opens consultation for aluminum smelters in ETS expansion

The Chinese Ministry of Ecology and Environment (MEE) has initiated a consultation process for the inclusion of aluminum smelters in its national compliance emission trading scheme (ETS). The move, announced on March 15, marks a significant expansion of China's ETS, which currently covers only the power generation sector.

Japan initiates testing of ammonia-coal mix to reduce emissions from CFPPs

Japanese technology aimed at curbing carbon emissions from existing coal-fired power plants by introducing ammonia as a substitute for coal is set to undergo testing at a commercial plant later this month, marking a significant step towards its implementation.

Malaysia’s Ministry of NRES developing National Carbon Market Policy

The Ministry of Natural Resources and Environmental Sustainability (NRES) in Malaysia is currently undertaking a study on the National Carbon Market Policy (DPKK), with completion slated for next year. This was announced during a session at the Dewan Rakyat.

Global oil and gas industry poised for $125 billion investment surge in 2024

The international oil and gas sector, alongside the Middle East's national oil companies, is gearing up to greenlight an impressive array of projects this year, signaling a substantial investment surge totaling $125 billion. Wood Mackenzie's latest analysis projects up to 30 projects to receive final investment decisions (FIDs) in 2024, collectively holding an estimated 14 billion barrels of oil equivalent (boe) of resources.

Warwickshire introduces new policy to enhance EV charging accessibility

In a move aimed at bolstering the infrastructure for electric vehicle (EV) owners, Warwickshire County Council (WCC) has unveiled a groundbreaking EV Parking Policy. This policy will see on-street EV charging bays designated exclusively for electric vehicles, effectively limiting their use to EV owners.

Delhi government unveils ambitious solar policy 

The Aam Aadmi Party (AAP) government in Delhi has announced the implementation of the new Delhi Solar Policy, 2024, aimed at significantly increasing the adoption of solar power systems in homes and businesses across the city.

Zimbabwe urged to embrace renewable energy funding and policies

In a bid to bolster its renewable energy sector and pave the way for a sustainable energy future, Zimbabwe recently hosted the Fifth Edition of the International Renewable Energy Conference and Expo. 

African Development Bank chief calls for end to loans tied to natural resources

In an interview with The Associated Press, Akinwumi Adesina, the head of the African Development Bank, voiced his concerns over loans tied to Africa's natural resources. Adesina emphasized the difficulty in properly pricing such assets and highlighted the challenges these loans pose to sustainable development.

Why recycling needs a new perspective?

Recent reports about plastic recycling have made it clear that the plastics industry sold recycling as a glorified solution to the planet’s plastic waste problem. So where do we go from here? Should we abandon recycling as a solution against climate change or is there still scope for improvement?

US Senate passes bipartisan legislation to boost recycling and composting

The US Senate has taken a significant step forward in addressing recycling and composting challenges by passing two bipartisan bills aimed at improving data collection and expanding access to recycling infrastructure, applauded by the Consumer Brands Association.

Shell warns of energy shortages amidst low investment in low-carbon sources

Shell, one of the world's leading energy companies, has issued a stark warning about the risk of energy shortages unless there is a significant increase in investment in low-carbon energy sources. The company's caution comes amidst a global push towards net-zero emissions and growing concerns about energy security.

Adani Green Energy operationalizes additional 126 MW wind power project in Gujarat

Adani Green Energy Limited (AGEL) has achieved another milestone in its renewable energy portfolio by operationalizing an additional 126 MW capacity of a wind power project in Gujarat. This development comes as part of the company's ongoing efforts to expand its presence in the renewable energy sector.

$30 million facility to boost renewable energy financing in the Bahamas

In a significant move towards sustainable energy development, a new $30 million facility managed by the Bahamas Development Bank is set to revolutionize the financing landscape for renewable energy systems. Guildan Gilber, Vice President of Alternative Power Sources Bahamas, made the announcement at the Andros Chamber of Commerce Economic and Investment Conclave, offering a ray of hope for businesses grappling with power generation challenges.

Swiss-Colombian startup Cotierra secures $1 million for farming decarbonization

In a significant stride towards sustainable agriculture, Cotierra, a Swiss-Colombian carbon removal and agtech startup, has successfully secured $1 million in a pre-seed funding round. 

Switzerland witnesses increase in pension funds decarbonizing portfolios

According to Climate Alliance, a coalition of civil society organizations, the proportion of Swiss pension funds committed to decarbonizing their investment portfolios has risen from 25% in March 2022 to 36% in March 2024. This shift reflects a growing recognition of the importance of aligning investment strategies with climate goals.

Biden administration proposes significant fuel tax hike for business jet operators

In line with President Biden's State of the Union Address promise to address tax disparities, the Biden administration has unveiled a proposal to substantially increase the federal tax on jet fuel for business jet operators over the next five years.

NZBA members commit to emissions reduction goals for capital markets businesses

In a significant move towards addressing climate change, members of the Net Zero Banking Alliance (NZBA), a part of the broader Glasgow Financial Alliance for Net Zero, have voted to apply emissions reduction goals to their capital markets businesses. 

Study finds US oil and gas industry methane emissions exceed official estimates

A comprehensive study published in the journal Nature reveals that methane emissions from US oil and natural gas operations are three times higher than previously estimated by the government. 

Germany’s offshore wind expansion to occupy quarter of maritime zone

Germany's ambitious plans for offshore wind power expansion could potentially occupy up to one quarter of the country's exclusive economic zone in the North Sea and the Baltic Sea, according to the Federal Maritime and Hydrographic Agency (BSH).

‘Water for All’ resounds on 27th celebration of International Day of Action for Rivers

March 14: Global celebration of rivers - vital for ecosystems. Advocates unite to protect and raise awareness for International Day of Action for Rivers.

Climate Change Commission urges government action to cut carbon credit surplus

The Climate Change Commission has issued a stern call to the New Zealand government, urging swift action to reduce the surplus of carbon credits available for purchase by polluters. This urgent appeal comes after four unsuccessful auctions in 2023, signaling a worsening problem that cannot be left unaddressed.

Carbon strips market set to soar to $4.15 billion by 2031

The Carbon Strips Market is poised for significant growth, with CoherentMI estimating its value to reach US$ 4.15 Billion by 2031, up from US$ 2.66 Billion in 2024. This anticipated growth is attributed to various factors driving demand for lightweight and high-performance materials across industries, particularly in automotive, aerospace, wind energy, and sports equipment.

IT firms prioritize sustainability reporting and compliance over infrastructure investment, finds ISG study

A recent study conducted by global technology research and advisory firm ISG reveals that enterprises are increasingly directing their sustainability investment towards reporting and compliance services rather than infrastructure upgrades such as cloud or network modernization.

IBM announces $45 million investment in sustainability accelerator to enhance city resiliency

Tech giant IBM has unveiled a new commitment to invest $45 million in its social impact program, the IBM Sustainability Accelerator, as part of a pioneering initiative aimed at bolstering city resiliency through technology-focused climate adaptation solutions.

Innovative solutions: the XPRIZE Water Scarcity Competition

Water scarcity is a pressing issue affecting communities worldwide, with 80% of the global population facing its consequences. To address this challenge, the XPRIZE Foundation, known for its groundbreaking initiatives, has introduced the XPRIZE Water Scarcity competition. This initiative, funded by the Mohamed bin Zayed Water Initiative and supported by Elon Musk, offers a total prize purse of $119 million over five years.

Insurers express concerns over greenwashing amid tightening ESG criteria

Amidst increasing scrutiny over environmental, social, and governance (ESG) practices, insurers are grappling with concerns surrounding greenwashing, according to a recent survey conducted by Ortec Finance.

37th International Cotton Conference in Bremen to address EU guidelines

The Bremen Cotton Exchange and Fibre Institute Bremen are gearing up for the 37th International Cotton Conference in Bremen from March 20 to 22, expecting up to 400 attendees from 40 countries across the cotton supply chain. The event will feature keynote speeches on a range of topics, with a primary focus on the impact of European Union (EU) political guidelines on the industry.

Germany’s onshore wind power expansion gathers pace

The expansion of onshore wind power in Germany is regaining momentum, with industry lobby group BWE stating that the politically induced slowdown in newly installed capacity between 2019 and 2021 has been surmounted.

Bank of America expands energy transition business amid rising demand

Bank of America (BofA) is ramping up efforts to expand its presence in the energy transition sector, aiming to bolster carbon trading and increase its involvement in power and natural gas markets trading, according to senior executives speaking to Bloomberg.

PNGRB advances green hydrogen transport via natural gas pipelines

The Petroleum and Natural Gas Regulatory Board (PNGRB) is taking significant strides in facilitating the transportation of green hydrogen through natural gas transmission lines by incorporating hydrogen blending into the nation's infrastructure.

Sylvera becomes first carbon credit agency to adopt ICMA code of conduct for ESG ratings

Carbon credit data and rating agency Sylvera has achieved a significant milestone by becoming the first of its kind to integrate the International Capital Market Association (ICMA) Code of Conduct into its Environmental, Social, and Governance (ESG) Ratings.

AIIB and BNDES strengthen cooperation for sustainable development financing

The Asian Infrastructure Investment Bank (AIIB) and the Banco Nacional de Desenvolvimento Econômico e Social (BNDES) have formalized a Memorandum of Understanding (MOU) aimed at bolstering collaboration in financing sustainable development projects. 

Report: Global carbon removal market to hit $1465.5 million by 2030

The latest report by Congruence Market Insights, titled 'Global Carbon Dioxide Removal Market - Size, Trends, Share, Growth, Dynamics, Competition, and Opportunity Forecast, 2023 - 2030,' offers a comprehensive analysis of the global carbon dioxide removal market, providing valuable insights into its size, trends, drivers, restraints, and opportunities.

Biofuels poised to drive global green transition, but challenges persist

Biofuels are anticipated to play a crucial role in the global green transition, offering a sustainable solution for decarbonizing planes, ships, and industrial activities that cannot solely rely on electricity and batteries. These low-carbon fuels have the potential to bridge the renewable energy gap, particularly as innovation drives the development of biofuels derived from waste plant materials, enhancing their sustainability.

Canadian Banks undermine net-zero commitments, report finds

A recent report by InfluenceMap has revealed that Canada's five largest banks undermined their net-zero commitments in 2022, maintaining higher exposure to the fossil fuel industry compared to their US and European counterparts.

Former coal plant in Queensland to transform into Tesla Megapack energy hub

In a move towards sustainable energy, a former coal plant in Queensland, Australia, is undergoing a transformation into a Tesla Megapack, set to become a hub for renewable power. The project, with an estimated cost of $330 million, is being funded by the Queensland Renewable Energy and Hydrogen Jobs Fund.

Volkswagen quits Australian auto lobby over fuel standards dispute

Amidst a growing rift over new fuel standards, Volkswagen announced its withdrawal from the policymaking committee of Australia's auto lobby. The decision follows Tesla's recent departure from the group, signaling a broader disassociation from campaigns against stricter emission regulations.

Ethanol plant in North Dakota leads the way in carbon capture and sequestration

Red Trail Energy (RTE), a corn ethanol plant in Richardton, North Dakota, has become the first ethanol plant globally to join a voluntary carbon market, setting a new standard for sustainability and innovation in the industry.

Duferco announces €10 million investment in clean hydrogen project in Sicily

Duferco plans clean hydrogen project in Sicily with Caronte & Nippon Gases Italia to decarbonize Messina plant, per Kallanish.

February 2024: Hottest on record amidst alarming climate milestones

Last month was recorded as the hottest February, according to new data from Copernicus, the European Union’s climate monitoring service. This marks the ninth consecutive month that global temperature records have been shattered, further underscoring the ongoing impact of human-induced climate change.

Valmet Oyj raises EUR 200 million with inaugural green bond offering

Valmet Oyj, a Finnish provider of process technologies, has successfully raised EUR 200 million (USD 217.4 million) through the sale of senior unsecured green notes. This issuance marks the inaugural bond issued under Valmet's newly established Green Finance Framework.

Osun State secures $80 million investment for infrastructure and gas projects

In a significant development, the Osun State Government has announced that two separate investment conglomerates, Allegiance CNG Limited and First Tricon Construction Services Limited, have pledged a combined investment of $80 million in infrastructure and gas projects within the state.

New Jersey advances bill to divest from fossil fuel companies

In a bold move towards environmental sustainability, the New Jersey Senate Environment and Energy Committee has advanced a bill mandating the divestment of state retirement funds from major fossil fuel companies. 

Haryana unveils draft Green Hydrogen Policy to drive sustainable energy

The Haryana government has unveiled a draft, 'Haryana Green Hydrogen Policy 2024', aiming to generate 250 kilotonnes per annum (ktpa) of green hydrogen by 2030. The policy offers a range of incentives to attract investment in green hydrogen projects within the state.

Amazon and Glacier partner to advance recycling technology and reduce waste

Amazon and Glacier are teaming up to revolutionize recycling technology and combat waste through innovative AI and robotics solutions. The collaboration, driven by Amazon's Climate Pledge Fund, underscores a commitment to support entrepreneurs and female-led companies in climate tech.

UK trails behind European counterparts in green investment

A recent analysis by Greenpeace has highlighted the UK's lagging position in green spending among the top five Western European economies. Comparing the UK to France, Germany, Spain, and Italy, the analysis revealed significant disparities in per capita green energy investment and overall spending on low-carbon initiatives.

Royal Bank of Canada to triple renewable energy funding by 2030

Royal Bank of Canada (RBC) has announced plans to significantly increase its investment in renewable energy, despite reporting limited progress in reducing the emissions intensity of its oil and gas financing.

UK to launch £1 billion auction round to spur renewable energy projects

In a significant move to boost renewable energy initiatives and advance climate goals, Britain is set to launch its next auction round worth more than £1 billion ($1.3 billion), according to government budget documents released on Wednesday.

USDA announces major clean energy investments to strengthen rural America

In a significant move towards bolstering clean energy infrastructure and enhancing rural America's power grid, the U.S. Department of Agriculture (USDA) has unveiled plans to invest in clean energy projects across 23 states. 

Renewable energy costs plummet in Asia Pacific, outpacing fossil fuels

A recent analysis by Wood Mackenzie reveals a historic low in the cost of renewable energy generation across the Asia Pacific region, marking a significant milestone in the clean energy transition. 

Urja Sathi secures INR 3.5 million seed funding to revolutionize India’s clean energy sector

Lucknow's Urja Sathi, a sustainable energy-tech startup, secures INR 3.5M seed funding led by Ankitt Jain, Sharlee Jain, Neeraj Kumar Pawar, and Ayu Sharma.

IBM study reveals embedding sustainability boosts business performance

A new global survey conducted by IBM's Institute for Business Value (IBV) in collaboration with Oxford Economics highlights the significant benefits that companies can experience by embedding sustainability into their operations. 

Epson partners with Earth Hour to drive global environmental action

Epson, a leading technology company, has joined forces with Earth Hour, marking its first international corporate support for the global environmental movement. 

EU strikes deal to ban single-use plastics

EU negotiators reached a historic agreement on Monday to ban single-use plastic packaging for items like fresh fruit and vegetables, mini hotel toiletries, and fast food in restaurants. 

Major US banks withdraw from Equator Principles

Four of the largest US banks have withdrawn from the Equator Principles, an industry standard for assessing environmental and social risks in project financing. 

ABC Impact invests in Winnow to accelerate food waste reduction in Asia

ABC Impact, a leading private equity fund, announced its investment in Winnow, the global leader in AI-driven food waste reduction solutions. Winnow's innovative technology, trusted by major hospitality businesses worldwide, aims to address the economic, social, and environmental impacts of food waste.

Jindal Stainless announces ₹700 crore investment for sustainability projects

Jindal Stainless Ltd, India's largest stainless steel player, has unveiled plans to invest ₹700 crore over the next three years in sustainability projects, including renewable energy initiatives. 

EcoOnline unveils financial-grade sustainability reporting software

EcoOnline launches Sustainability Reporting SaaS for accurate greenhouse gas measurement and ESG compliance in line with sustainability laws.

BlackRock acknowledges risks in ESG ventures amid growing scrutiny

In its annual report to the Securities and Exchange Commission, BlackRock, a prominent financial services firm, has highlighted potential risks associated with its environmentally-focused investment endeavors, known as Environmental, Social, and Governance (ESG) investments. 

ABP implements stricter ESG standards

Europe's largest pension fund, ABP, headquartered in the Netherlands, has announced a more stringent environmental, social, and governance (ESG) policy for its investment portfolio. 

ABP pension fund plans €30 billion investment with focus on sustainability

ABP, Dutch pension fund, to invest €30B emphasizing impact and sustainability. €10B for domestic projects, half for rental housing.

UN launches key panels for Paris Agreement-aligned carbon crediting mechanism

In a significant move towards combating climate change, the United Nations has initiated the implementation of a new carbon crediting mechanism aligned with the Paris Agreement, known as Article 6.4. 

LIC Housing Finance plans green bond issuance to fund environmentally sustainable projects

LIC Housing Finance to issue green bonds in FY, backing eco-friendly housing. MD pledges focus on green financing for sustainable projects.

UNEA-6 wraps up with plastic pollution in spotlight 

The Sixth United Nations Environmental Assembly (UNEA-6) wrapped up on March 1, 2024, leaving delegates divided over the final Ministerial Declaration's stance on plastic pollution and the Paris Agreement. 

Capital Bank collaborates with Al Aman Company to enhance water efficiency

Capital Bank has embarked on initiatives to enhance water use efficiency within its main buildings in a proactive move towards sustainability. 

Egypt signs MOUs for renewable energy projects worth $40 billion

On February 28, Egypt finalized agreements with seven global developers for green hydrogen and renewable energy projects, with anticipated investments totaling USD 40 billion (EGP 1.2 trillion). 

SJVN Green Energy secures 200 MW solar project in Gujarat

State-owned power producer SJVN Ltd announced on Sunday that its subsidiary, SJVN Green Energy, has won a 200 MW solar project in an e-Reverse Auction conducted by Gujarat Urja Vikas Nigam. 

TDB Group and GGGI partner to boost climate adaptation funding in Africa

Following the COP28 global climate summit, the Eastern and Southern African Trade and Development Bank Group (TDB Group) and the Global Green Growth Institute (GGGI) have joined forces to enhance cooperation in climate adaptation funding. Signed on December 20, 2023, the agreement aims to accelerate TDB’s implementation of its climate finance strategy across its member states in Africa.

Enviria secures $200 million investment from BlackRock to expand solar projects in Germany

Enviria, a German commercial and industrial solar startup, announced on Thursday that it has secured a capital commitment exceeding $200 million from BlackRock, the world's largest asset manager. The investment comes as Enviria aims to expand its solar projects across Germany.

Cadillac Fairview commits $9.5 million for decarbonization of property in Vancouver

Cadillac Fairview, managing the Pacific Centre and Waterfront Properties in Vancouver, is undertaking a $9.5 million decarbonization initiative. This project, backed by co-owners Ontario Teachers' Pension Plan and Investment Management Corporation of Ontario, aims to reduce carbon emissions in the region's office portfolio significantly.

European carbon prices drop amid rapid decarbonization

Bloomberg reported a surprising trend in the European carbon market, where the price of CO2 emission allowances has fallen as the region accelerates its decarbonization efforts. 

Report urges scrapping subsidies for Conifer forests to combat climate crisis

A report from the Royal Society of Edinburgh (RSE) has called on ministers to rethink the substantial subsidies and tax breaks allocated to conifer forests, arguing that they do little to address the climate crisis. Instead, the report suggests redirecting funds towards planting longer-living native forests, which offer clearer benefits for climate and biodiversity.

Climate concerns rise as US prioritizes highway expansion over public transit

Since the passage of the $1.2 trillion bipartisan infrastructure law in 2021, lauded by President Biden as a transformative effort to revamp America's crumbling infrastructure, concerns are mounting over the disproportionate allocation of funds towards highway expansion at the expense of public transit.

EPA targets oil and gas industry with new methane emissions rule

The Environmental Protection Agency (EPA) is set to introduce a new rule aimed at curbing methane emissions from the oil and gas industry. The rule, soon to be published in the Federal Register, has prompted pushback from industry stakeholders.

Hyundai Motor India targets 100% renewable energy usage by 2025

Hyundai Motor India Limited (HMIL) has set ambitious targets to reach 100% renewable energy usage by 2025, aligning with the global RE100 benchmark. Currently, the company fulfills 64% of its energy requirements through renewable sources. 

EU nature restoration package passes amid controversy

The European Parliament voted on Tuesday to approve the nature restoration package, with 329 votes in favor, 275 against, and 24 abstentions. The legislation mandates restoration measures on at least 20% of land and sea by area size this decade, expanding to all ecosystems in need of repair by 2060.

Egypt inks 7 MOUs for green hydrogen and renewable energy projects

Egypt has taken significant strides toward advancing its green hydrogen and renewable energy initiatives by signing seven memorandums of understanding (MoUs) with international developers and government entities. 

Morgan Stanley Joins PCAF committee to standardize carbon accounting in financial sector

Morgan Stanley has announced its membership in the global steering committee of the Partnership for Carbon Accounting Financials (PCAF), signaling its commitment to standardizing carbon accounting practices within the financial sector. 

DOE and EPA to offer $1 billion in funding for methane emission reductions

In a joint effort, the US Department of Energy (DOE) and the US Environmental Protection Agency (EPA) have announced plans to issue a Funding Opportunity Announcement (FOA) aimed at allocating $1 billion in financial assistance awards. 

Oxford releases “major course-correction” to carbon offsetting

Oxford University updates 'Oxford Offsetting Principles' to enhance credibility and guide toward net-zero with clearer directives.

Singapore to build the world’s largest ocean-based carbon removal plant

Singapore is set to embark on a groundbreaking project to construct the world's largest ocean-based carbon removal plant over the next 18 months. 

Hong Kong government plans to develop Green Shipping Hub 

The government of the Special Administrative Region (SAR) of Hong Kong is set to inject tens of millions of Hong Kong dollars into initiatives to transform the city into a Green Shipping Hub. 

China to implement interim regulations for Carbon Emission Trading in May

China's Ministry of Ecology and Environment (MEE) announced on Monday that the Interim Regulations for the Management of Carbon Emission Trading will take effect on May 1, 2024. These regulations mark a significant step for China, which operates the world's largest carbon market regarding covered greenhouse gas emissions.

Canada returns to green bond market with inclusion of nuclear power

Canada is re-entering the sustainable debt market, marking its first issuance since the government amended its sovereign green finance framework last November to include nuclear power. 

Verizon settles $1 billion green bond offering for renewable energy investments

Verizon Communications Inc. settled its sixth green bond offering of $1 billion on February 23, with the net proceeds earmarked for renewable energy investments to advance greener electrical grids in the U.S. 

West Virginia threatens blacklisting of six major banks over ESG policies

West Virginia State Treasurer Riley Moore has issued warnings to six major banks, including Citibank and HSBC Holdings, threatening to blacklist them from state business due to their support of climate-conscious investing strategies known as ESG (environmental, social, and corporate governance). 

UK withdraws from Energy Charter Treaty amid reform stalemate

The UK government has announced its withdrawal from the Energy Charter Treaty (ECT), citing the failure to reform the post-Cold War treaty adequately. Initially designed to safeguard investments in petroleum-rich post-Soviet states, the treaty has predominantly been utilized by energy companies to litigate against Western European governments.

GeoPura secures £56 million investment to accelerate green hydrogen adoption

GeoPura, a clean energy provider specializing in green hydrogen solutions, announced today that it has successfully raised £56 million (USD$70 million) in an investment round to advance green hydrogen adoption in the UK. 

KKR raises $6.4 billion for Asia Pacific infrastructure and energy fund

Global investment firm KKR & Co announced on Wednesday that it had successfully raised $6.4 billion for its fund, focusing on infrastructure and energy-related investments across the fast-growing Asia Pacific region. 

African Development Bank and OCP Group sign agreements to fund Green Investment Program

In a significant move to address water scarcity and combat climate change, the African Development Bank (AfDB) and the OCP Group have signed three loan agreements in Rabat totaling $188 million. 

Study finds microplastics present in 100% samples of human placentas

Recent research conducted by University of New Mexico Health Sciences researchers has revealed the presence of microplastics in human placentas, shedding light on a concerning trend in environmental pollution. 

UK advertising watchdog clears Ford of “zero emissions driving” claims

The UK's advertising regulator, the Advertising Standards Authority (ASA), has dropped its investigation into Ford after the carmaker's claims of "zero emission driving" in a recent Google advertisement. The claims, featured in a paid advert for Ford's Explorer SUV model, were deemed unlikely to mislead the public, according to the ASA's ruling.

Lake Stevens to welcome sustainable new library project

Lake Stevens is on the brink of a significant upgrade to its public infrastructure with the forthcoming construction of a new library, a collaboration between Sno-Isle Libraries and Seattle-based BuildingWork architects. The library, first introduced to the public in June 2023, has recently achieved a crucial milestone with the submission of a land use application to the city.

Australia initiates consultation on climate-related financial disclosure rules

The Australian Treasury has launched a consultation to gather feedback on proposed rules regarding climate-related financial disclosure, aiming to align with recommendations from the International Sustainability Standards Board (ISSB). The consultation, open for responses until February 17, 2023, seeks initial views on key considerations for standardized, internationally aligned requirements for disclosing climate-related financial risks and opportunities in Australia.

Malaysia considers mandatory sustainability reporting based on International Standards

The Securities Commission of Malaysia has announced the initiation of a consultation process regarding the potential adoption of the International Sustainability Standards Board (ISSB) standards, developed by the IFRS Foundation, as the foundation for mandatory sustainability reporting requirements for listed and large companies in the country.

EU reaches provisional agreement on Carbon Removal Certification Framework

Negotiators representing the European Parliament and EU member states have reached a provisional agreement on establishing a certification framework for carbon removal within the EU. The framework aims to incentivize carbon removal activities, including those in agriculture and sets minimum sustainability standards.

Shell eyes growth in German biomethane market

Shell is poised for expansion in the German biomethane market, aiming to cater to its client base's demand for decarbonized energy while capitalizing on the potential for profitability in a high-value segment. 

Australia launches consultation on climate-related financial disclosure rules

Australia is embarking on a consultation process to gather feedback on proposed climate-related financial disclosure rules in line with recommendations from the International Sustainability Standards Board (ISSB). 

Power Grid approves $87.6 million USD investment for electricity transmission projects

The Power Grid Corporation of India has greenlighted a substantial investment of $87.6 million USD aimed at bolstering electricity transmission projects across the nation in a significant move poised to enhance the country's power infrastructure. 

IREDA and PNB join forces to boost renewable energy initiatives

Indian Renewable Energy Development Agency Ltd. (IREDA) and Punjab National Bank (PNB) have forged a Memorandum of Understanding (MoU) to propel renewable energy projects across India. 

Rockefeller Foundation proposes a new approach to clean energy transition in the Philippines

The Rockefeller Foundation has suggested a novel strategy for advancing the transition to clean energy in the Philippines, emphasizing meticulous planning by the recipient countries rather than relying solely on grand political gestures, which have often hindered international energy transition initiatives elsewhere. 

CRIF launches ESG analytics for UK banks

CRIF, a leading provider of consumer and business credit information in Europe, has unveiled ESG Analytics, a revolutionary data repository and scoring service aimed at enabling UK banks to swiftly evaluate the environmental, social, and governance (ESG) profile of their suppliers, partners, and customer portfolio across the UK and EU. 

Japanese firm transforms construction waste into green jet fuel material

Japanese cardboard manufacturer Rengo is set to invest $133 million to produce raw materials for sustainable aviation fuels (SAF) from construction waste by 2027. 

Airbus demonstrates SAF use in A350-1000 at Singapore Airshow 2024

As part of its commitment to sustainability, Airbus showcased its A350-1000 aircraft utilizing sustainable aviation fuel (SAF) during the Singapore Airshow 2024, held from Feb 20 to Feb 22. 

Indonesian government advocates green investments for sustainable development

The Indonesian Ministry of Environment and Forestry (KLHK) is actively promoting green investments to facilitate a shift towards clean energy and mitigate carbon emissions, aiming for sustainable development in the country. 

US natural gas prices plummet to near-record lows amid warmest winter on record

US natural gas prices have nosedived to levels not seen in nearly three decades, driven by a combination of record-high production and historically warm winter weather. 

Report exposes plastic industry’s decades-long deception on recycling

A recent report by the Center for Climate Integrity (CCI) reveals that plastic producers have knowingly misled the public for over 30 years regarding the feasibility and effectiveness of plastic recycling as a waste management solution. 

FRA Chairman announces initiatives to fortify Egypt’s financial sector and foster sustainability

Mohamed Farid, Chairperson of the Financial Regulatory Authority (FRA), revealed a series of initiatives to strengthen Egypt's non-banking financial sector while promoting sustainability. 

Major dissensions rise among automobile manufacturers over carbon credit calculation

Differences in opinion among major Indian automobile manufacturers have stalled progress in reaching a consensus on calculating carbon credits. 

Government issues guidelines for pilot projects using green hydrogen in transport sector

The government has released guidelines for initiating pilot projects to utilise Green Hydrogen as fuel in buses, trucks, and four-wheelers, marking a significant step towards decarbonizing the transport sector. 

IFC invests $10 million in Tajikistan’s first local currency green bond 

The International Finance Corporation (IFC) has announced its subscription of up to $10 million in Tajikistan's landmark local currency green bond issued by Eskhata Bank, marking a significant milestone for the country's financial sector. 

King & Wood Mallesons advises lenders on $400m financing for Melbourne renewable energy hub

King & Wood Mallesons (KWM) recently guided a syndicate of lenders, including Westpac Banking Corporation, Standard Chartered Bank, Export Development Canada, and Société Générale, in a $400 million financing deal. 

Wisconsin’s climate goals clash with fossil fuel projects 

Wisconsin Governor Tony Evers recently secured federal funding to purchase 70,000 acres of the Pelican River Forest, marking the state's largest conservation effort. 

New York State Retirement Fund to divest from Exxon Mobil and others over climate concerns

The New York State Common Retirement Fund, overseeing $260 billion in assets, announced plans to divest from Exxon Mobil Corp. and seven other oil and gas companies totaling approximately $26.8 million in stocks and bonds. 

European ethanol producers challenge EU’s Aviation Biofuel Regulation in court

European renewable ethanol producers have initiated legal action against the EU's RefuelEU Aviation Regulation, arguing that it unfairly excludes crop-based biofuels from efforts to mitigate greenhouse gas emissions in air transport. 

Korean financial regulator to roll out ESG investment disclosure guidelines

South Korea’s Financial Services Commission (FSC) announced plans to introduce guidelines for public disclosures on investments aligned with environmental, social, and governance (ESG) objectives by March or April. 

Greenland Resources & COWI forge sustainable mining pact

Greenland Resources Inc. has inked a Memorandum of Understanding (MOU) with COWI, Denmark's integrated engineering and environmental firm. 

Tech Mahindra leads decarbonization drive with net-zero roadmap

Tech Mahindra, headquartered in Pune, is charting an ambitious path towards decarbonization, aiming for net-zero emissions by 2035. As part of this endeavor, the company plans to ramp up renewable energy sources to constitute 90% of its energy mix by 2030.

Adani Green Energy starts operations on the world’s largest solar park in Gujarat

Adani Green Energy Limited (AGEL) has started operationalizing a 551 MW solar capacity in Khavda, Gujarat, marking a significant milestone in India's renewable energy sector. 

European aviation associations call for stronger SAF policies

European aviation associations, including airlines, airports, civil aeronautics industry, and air navigation service providers, are urging EU policymakers to bolster efforts in developing a leading sustainable aviation fuel (SAF) industry. 

Japan to issue first tranche of green bonds 

Japan's government is poised to issue its inaugural tranche of bonds to fund the development of clean energy resources, with investors anticipating robust demand due to the scarcity of yen-denominated green bonds.

Dubai Municipality partners with global companies to produce SAF

Dubai Municipality has inked a Memorandum of Understanding (MoU) with global corporations during the World Governments Summit 2024 to revolutionise waste management practices in Dubai. 

Raízen and Wärtsilä partner to advance ethanol as marine fuel for decarbonization

Raízen, Brazil’s third-largest energy corporation in terms of revenue, and Wärtsilä, a Finnish manufacturer,  have joined forces to accelerate the decarbonization of the marine sector through the exploration of ethanol as a marine fuel. 

EU parliament proposes stricter restrictions on carbon offsets amid greenwashing crackdown

The European Parliament is poised to enforce stringent limits on carbon offsetting arrangements, signalling a crackdown on greenwashing within the EU. 

GEF launches new GBFF council, agrees on $1.1 billion funding 

The Global Environment Facility (GEF) gathered its 186 member governments in Washington for the inaugural meeting of the Council of the Global Biodiversity Framework Fund (GBFF), marking a significant step towards addressing pressing environmental concerns. 

India Energy Storage Alliance launches India Reuse and Recycling Council (IRRC)

In response to industry recommendations on battery reuse and recycling from the India Battery Manufacturing and Supply Chain Summit 2024, the India Energy Storage Alliance (IESA) has announced the establishment of the India Reuse and Recycling Council (IRRC). 

England launches ambitious biodiversity credit scheme

England is set to introduce a biodiversity credit scheme this week, aiming to ensure that all new construction projects contribute positively to nature conservation. 

Chile seeks European investment for green energy transition

Chile is actively seeking European investors to support its transition to renewable energy sources like solar, wind, and green hydrogen. 

California releases plan to phase out fracking, ending three-year de facto ban

After three years of halted fracking activity, Governor Newsom's California Geologic Energy Management Division unveiled its proposal to phase out fracking in the state formally. The plan aims to discontinue the issuance of new fracking permits to curb greenhouse gas emissions and safeguard the well-being of California's residents, wildlife, air, and land.

Hong Kong government issues HK$6 billion digital green bonds

The Government of the Hong Kong Special Administrative Region (HKSAR) has issued approximately HK$6 billion in digital green bonds, showcasing a groundbreaking integration of fintech and green finance. 

China’s GHG emissions could peak as early as this year: experts

China's surge in renewable energy deployment is poised to bring about an earlier-than-expected peak in greenhouse gas (GHG) emissions, potentially occurring as soon as this year. The country's aggressive investments in renewable energy, highlighted by the installation of 217 gigawatts of solar power and 76 gigawatts of wind power last year alone, have positioned it as a global leader in clean energy adoption. 

Impact investors stress SME engagement for adoption of sustainability standards in Nigeria

Impact investors in Nigeria have emphasized the importance of engaging a broader audience, particularly Small and Medium Enterprises (SMEs), to ensure the successful implementation of the country's International Sustainability Standards Board (ISSB) standards. 

Malaysia introduces ESG Quick Guide for MSMEs

Deputy Prime Minister Datuk Seri Dr. Ahmad Zahid Hamidi has unveiled Malaysia's Environmental, Social, and Governance (ESG) Quick Guide for Micro, Small, and Medium Enterprises (MSMEs). 

Brazilian solar project earns platinum seal from Global Carbon Council

The Sol do Sertão Renewable Energy Project in Brazil has garnered acclaim from the Global Carbon Council (GCC), earning a prestigious platinum seal and ranking among the world's top four carbon projects. 

NYC pension funds urge Royal Bank of Canada for transparency on clean energy funding

Two significant New York City pension funds pressured the Royal Bank of Canada (RBC) to disclose more information about its clean energy investments. The New York City Employees’ Retirement System and Teachers’ Retirement System of the City of New York have filed a shareholder resolution, urging RBC to fully report the ratio of its clean energy funding compared to its fossil fuel funding. 

European Commission announces strategy to boost industrial CCS capacity

The European Commission announced its strategy to significantly boost industrial carbon capture, storage (CCS), and utilization capacity across the EU, marking a pivotal step in its quest to meet ambitious climate targets, including achieving net zero emissions by 2050.

HDFC Bank raises $750 million through sustainable finance 

India's HDFC Bank, the country's largest private lender by market capitalization, has successfully raised $750 million through its debut sustainable finance dollar-denominated bond issue and senior unsecured dollar bonds, as stated in a release on Wednesday.

China poised for accelerated green bond issuance in 2024, surpassing the global market

Following its emergence as the leading global market for green bond sales in the fourth quarter of 2023, China is anticipated to witness a surge in green bond issuance in 2024, driven by ambitious domestic policies and favorable financial conditions.

Washington state bill proposes 10% SAF blend requirement for private jets

Legislation currently under consideration in Washington state aims to mandate airport operators to offer a minimum blend of 10% sustainable aviation fuel (SAF) for private jets owned by individuals or businesses under specific conditions. 

ITFC signs $2.1 billion deal with Bangladesh for oil and gas imports

According to energy officials, the International Islamic Trade Finance Corporation (ITFC) has inked a significant $2.1 billion financing plan with Bangladesh to support the nation's crucial oil and gas imports. 

Retired teachers lead campaign urging Wisconsin pension fund to divest from fossil fuels

Anne Steinberg, a retired technical college teacher from Milwaukee, is spearheading a campaign urging the State of Wisconsin Investment Board (SWIB) to divest from fossil fuel-related investments. 

Investigation exposes millions in ‘climate-friendly’ investments funding major carbon emitters

A recent investigation has shed light on allocating millions of euros in purportedly 'climate-friendly' investments to major carbon emitters. Fossil fuel giants, including BP, Chevron, Eni, Exxon, Repsol, Shell, and Total Energies, were identified as beneficiaries, revealing a concerning trend within the green finance landscape.

Study reveals decline in sustainable fund investments due to greenwashing surge

A recent study conducted by Elise Gourier and Helene Mathurin at ESSEC Business School has uncovered a concerning trend: investments in sustainable funds are dwindling due to a surge in greenwashing and growing skepticism towards Environment, Social, and Governance (ESG) focused investing.

Hong Kong sells $750 million in digital green bonds across four currencies

In a move to bolster its position as a digital asset hub, the government of Hong Kong has successfully sold $750 million worth of digital green bonds across four currencies. 

Lamborghini targets a 40% reduction in CO2 emissions by 2030

Luxury sports car manufacturer Automobili Lamborghini has unveiled a bold climate commitment, aiming for a 40% reduction in CO2 emissions per car across its entire value chain by 2030. 

Element United launches tokenized carbon credit marketplace and offset program

Element United, a Utah-based company led by former miner and Jungle Gold star Scott Lomu, has unveiled plans for a tokenized carbon credit marketplace and a subscription-based Offset program. 

ING forecasts steady growth for carbon capture and storage (CCS) market despite challenges

Global financial services provider ING has predicted continued growth for the carbon capture and storage (CCS) market, despite facing obstacles at the start of 2024.

Ahmedabad Municipal Corporation accepts bids for debut green bonds worth Rs 200 Crore

India's Ahmedabad Municipal Corporation has successfully accepted bids totaling Rs 200 crore ($24.1 million) for its inaugural green bonds, with a maturity period of five years, according to three bankers familiar with the matter on Monday.

GRI launches new mining sector reporting standard to enhance ESG transparency

The Global Reporting Initiative (GRI), a pioneer in promoting standardized Environmental, Social, and Governance (ESG) reporting, has unveiled its latest initiative - a dedicated reporting standard tailored for the mining sector. 

Indian coal production surges by 10.3% in January

In a significant uptick, India's coal production witnessed a notable increase of 10.3% in January, reaching 99.73 million tonnes (MT) compared to the corresponding period last fiscal year. 

Hong Kong to host green finance training for developing nations

Hong Kong will host a three-day green and sustainable finance training event in June, targeting policymakers, regulators, and finance professionals from dozens of developing nations. 

Itochu expands its role in US solar projects, aiming to double capacity by 2030

Japanese trading house Itochu has taken on a larger role in developing large-scale solar power plants in the US. 

India’s 2024 budget unveils strategies to fasten net zero emissions goal

During India’s Budget 2024 speech, Finance Minister Nirmala Sitharaman announced plans to make 10 million households' rooftops solar-powered. She also mentioned offering funding to tap into offshore wind energy, starting with one gigawatt capacity, in a move to accelerate the country towards its net zero carbon emissions goal.

Qatar Ministry facilitates recycling by providing free materials to recycling factories

The Ministry of Municipality in Qatar supports recycling initiatives by offering recyclable materials at no cost to recycling factories in the country. 

Indian Oil and Gas PSUs unveil ambitious investment plan of Rs 1.2 lakh crore for FY25

In a strategic move to bolster the country's energy infrastructure, major players in India's oil and natural gas sector, including the Oil and Natural Gas Corporation (ONGC) and Indian Oil Corporation (IOC), are gearing up to invest a substantial amount of approximately Rs 1.2 lakh crore in the fiscal year 2024-25. 

New Mexico House passes carbon credit swaps bill 

The New Mexico House of Representatives has passed a proposal to incentivize fuel companies to invest in cleaner options by allowing them to purchase carbon tax credits. These credits can then be sold to companies producing traditional fossil fuels. 

Generate Capital secures $1.5 billion to drive sustainable infrastructure development

Generate Capital, a sustainable infrastructure developer based in San Francisco has successfully raised $1.5 billion in capital commitments from institutional investors and pension funds. 

Australian collaboration aims to drive green steel and mineral processing innovations

Australia's national science agency, CSIRO, and Swinburne University of Technology have joined forces to spearhead research and development in green steel and mineral processing, contributing to global decarbonization efforts. 

Japan Bank for International Cooperation (JBIC) partners with ADNOC for green financing talks

The Japan Bank for International Cooperation (JBIC) has inked a Heads of Agreement (HOA) with the Abu Dhabi National Oil Company (ADNOC), laying the groundwork for discussions on financing within JBIC’s GREEN operations. 

Ajman Bank partners with Mastercard for sustainable banking initiatives

Ajman Bank has joined forces with Mastercard to integrate innovative sustainability solutions into its services. 

TotalEnergies to develop an electric mobility network in Spain with Wenea

TotalEnergies has entered into an agreement with Wenea to build a prominent electric mobility network in Spain, focusing on the development of high-power charging hubs. 

Japanese retail investors withdraw $4.5 billion from ESG mutual funds in 2023

Japanese retail investors have withdrawn ¥660 billion ($4.5 billion) from ESG mutual funds in 2023, marking a significant increase from the ¥150 billion outflows in 2022, according to research firm Morningstar. 

EC launches probe Into Swedish tax exemption schemes for Biogas 

The European Commission has initiated an in-depth investigation to assess the compliance of two Swedish tax exemption schemes for non-food-based biogas and bio-propane with European Union (EU) State aid rules. 

ADB sets climate finance record with $9.8 billion commitment in 2023

The Asian Development Bank (ADB) has achieved a record commitment of $9.8 billion in climate finance in 2023, marking a more than 46% increase from the previous year. 

IEA reports slower growth in green hydrogen capacity for 2023

The International Energy Agency's (IEA) annual renewables report for 2023 indicates a slowdown in the growth of green hydrogen capacity compared to the previous year's forecast. 

Record Amazon drought linked to climate change, says study

A recent study by World Weather Attribution, an international group of scientists, points to climate change as the primary cause of a historic drought in the Amazon rainforest. 

Lawsuit filed against California’s new climate laws, plaintiffs cite First Amendment concerns

The State of California is facing a lawsuit against two out of three of its new climate laws, namely the ‘Climate Corporate Data Accountability Act’ (Senate Bill 253) and the ‘Climate-Related Financial Risk Act’ (Senate Bill 261). 

China set to surpass coal in installed wind and solar capacity by 2024

The China Electricity Council (CEC) has predicted that China's installed wind and solar capacity will surpass coal capacity in 2024. 

Emirates joins Solent Cluster to advance sustainable aviation fuel production

Emirates has become a member of the Solent Cluster, a cross-sector collaboration consisting of over 100 international organizations, manufacturers, engineering companies, regional businesses, and academic institutions. 

Spain’s Qualitas Energy expands in the US by acquiring Heelstone 

Qualitas Energy, Spain's leading renewable energy fund, has reached an agreement to acquire Heelstone Renewable Energy LLC from Ares Management LLC. 

Berlin-based startup secures €9.2 million funding for carbon project developer platform

Berlin-based BlueLayer, a comprehensive software platform for carbon project developers, has raised €9.2 million in seed and pre-seed investment rounds, with Point Nine, an early-stage venture capital firm, leading the seed investment. 

Canadian pension fund under scrutiny for $100 million investment in LNG projects facing climate review

The Canada Pension Plan Investment Board (CPPIB), responsible for managing retirement savings for over 21 million Canadians, is facing criticism for a $100 million investment in liquefied natural gas (LNG) projects. 

Over half investors planning increased allocations in sustainable investments: Morgan Stanley survey

The latest Sustainable Signals survey from the Morgan Stanley Institute for Sustainable Investing reveals a significant opportunity for asset managers to better align their sustainable investment practices, products, and reporting with the expectations and priorities of global asset owners. 

Kenya publishes draft Carbon Market Regulations for public review

The Kenyan government released draft Carbon Market Regulations, on 29th January, inviting public scrutiny and submissions until early February 2024. 

US agricultural officials challenge banks over Net-Zero Banking Alliance participation

A coalition of 11 state agricultural commissioners and one secretary of agriculture in the US has raised concerns with six major financial institutions regarding their participation in the Net-Zero Banking Alliance (NZBA). 

Ethics code proposed to combat greenwashing in ESG claims auditing

Companies responsible for verifying environmental, social, and governance (ESG) claims may be required to adhere to a new ethics code to address greenwashing, according to the International Ethics Standards Board for Accountants (IESBA). 

India launches framework for voluntary carbon markets in agriculture sector

The Indian central government has introduced a ‘Framework for Voluntary Carbon Market in Agriculture Sector and Accreditation Protocol of Agroforestry Nurseries’ to encourage voluntary carbon markets in the agriculture sector. 

EU adopts legislation to phase down 500 million tonnes of potent greenhouse gases

The European Council on Monday announced the adoption of new legislation aimed at phasing down highly potent greenhouse gases, including fluorinated gases (F-gases) and ozone-depleting substances (ODSs). 

Climate-focused fund investments drop by 75% in the US since 2021

While the world is trying to sprint through the race against climate change, climate investments have taken an antithetical turn in the US. 

EPA report: Ireland experiences 1°C temperature rise amid surging emission rates

Ireland is increasingly susceptible to the effects of climate change, as highlighted by the Environmental Protection Agency's (EPA) groundbreaking Climate Change Assessment Report, which serves as the country's first comprehensive scientific evaluation of its changing climate and the necessary measures to avert catastrophic impacts. 

India’s natural gas demand set to rise 6% in 2024, anticipates International Energy Agency report

India's natural gas demand is poised for a 6% increase in 2024, rebounding from a 7% year-on-year decline observed in 2022, according to the latest report from the International Energy Agency (IEA). 

European Alps could lose 46% of glaciers by 2050 due to climate change

A new computer model developed by scientists from the University of Lausanne, in collaboration with the University of Grenoble, ETHZ, and the University of Zurich, predicts a minimum loss of 34% in the volume of ice in the European Alps by 2050. 

Repsol chooses Vissim’s advanced oil spill detection for the Yme field in Norway

Repsol Norge, a Norwegian multi-energy company has entered into a contract with Vissim to deploy an advanced oil spill detection system at the Yme Field on the Norwegian Continental Shelf. 

IEA report: record electricity generation from nuclear power will surpass coal by 2025

A report by the International Energy Agency (IEA) predicted that nuclear power generation is on track to break records in 2025, driven by investments in reactors to support the global shift toward a low-carbon economy. 

World Wetlands Day celebration sheds light on ecosystem’s importance in preserving the natural environment

Environmental experts, aspiring city planners, and students participated in a guided tour of Bhopal’s wetland on Sunday, on the occasion of World Wetlands Day. 

Trinidad and Tobago explores further gas deals with Venezuela 

Trinidad and Tobago is set to enhance their natural gas supply by pursuing additional deals with Venezuela after receiving a license to extract from the […]

UNDP and Pegasus Capital advisors partner to mobilize over $1 billion for sustainable infrastructure

UNDP and Pegasus Capital join for climate, energy, and nature-positive investments in emerging economies. Collaboration focuses on substantial infrastructure funding.

Bipartisan legislation aims to boost sustainable aviation fuel development

Senators Grassley, Moran, Ernst, Klobuchar, Duckworth introduce Farm to Fly Act, leveraging USDA programs to advance sustainable aviation fuel development.

ADB prioritizes private capital mobilization for climate goals amid concerns

The Asian Development Bank (ADB) has announced plans to deploy private capital as a significant part of its strategy to address urgent climate goals. 

China’s voluntary carbon market resumes trading after four years of suspension

China's voluntary carbon market has resumed trading after a four-year hiatus, marking a significant step toward funding emission reduction projects. Also known as the China Certified Emission Reduction (CCER) scheme it is now open for businesses for voluntary trade. 

Study reveals significant overestimation of carbon savings from cookstove projects

A recent study from the University of California, Berkeley, has shed light on a significant overestimation of carbon savings attributed to the distribution of efficient cookstoves in developing countries. 

EBA proposes guidelines on ESG risk management for financial institutions

The European Banking Authority (EBA) has initiated a public consultation on draft Guidelines addressing the management of Environmental, Social, and Governance (ESG) risks. 

UAE’s Alpha MBM Investments emerges as preferred bidder for Uganda’s $4 billion oil refinery project

The Ugandan government has chosen Alpha MBM Investments from the United Arab Emirates (UAE) as the preferred bidder for its ambitious $4 billion oil refinery project. 

Report: US state pensions not doing enough to protect clients against climate-related financial risks

According to a report released on Tuesday by Stop the Money Pipeline, Sierra Club, and Stand.earth, state pensions are not doing enough to protect beneficiaries from the rapidly growing environmental and climate-related financial risks. 

USDA grants more than $173K for clean energy projects in Arkansas

The US Department of Agriculture (USDA) announced $173,500 in clean energy project grants for two rural businesses in Arkansas. 

Reliance Industries plans commissioning of massive green energy giga complex 

Mukesh Ambani's Reliance Industries announced its plans to commission a colossal energy giga complex in Gujarat in the second half of 2024. 

Ankara’s AŞTİ implements solar power plant project to boost sustainability

Ankara Metropolitan Municipality's subsidiary, BUGSAŞ AŞ, is installing a Solar Power Plant at the AŞTİ transportation hub to save energy consumption. 

Trillion Energy reaffirms production guidance for SASB natural gas field 

Trillion Energy International Inc. has reiterated its production guidance for the SASB natural gas field offshore Turkey. 

EVE Energy to establish storage plant in Malaysia signs MoU with Invest Kedah

EVE Energy's Malaysian subsidiary, EVE Energy Malaysia, has inked a Memorandum of Understanding (MoU) with Invest Kedah Bhd to create 'EVE Energy Storage Malaysia Company.' 

New Mexico House Committee passes bill to limit carbon intensity of transportation fuels

House Bill 41, aiming to reduce the carbon intensity of transportation fuels by rewarding companies investing in cleaner options was passed by the House Energy, Environment, and Natural Resources Committee in New Mexico. 

Chinese official urges caution over excessive new energy vehicle projects 

In a ministerial briefing on Friday, Xin Guobin, a vice minister at China’s Ministry of Industry and Information Technology, expressed concern over the excessive number of new energy vehicle (NEV) investment projects launched by local authorities in China. 

Norwegian oil and gas firms target Arctic Barents Sea for natural gas exploration 

Oil and gas companies operating offshore Norway, including Equinor, Aker BP, and Vår Energi, are intensifying their exploration efforts in the Arctic Barents Sea to unlock new natural gas supplies.

Shell to exit nearly a century of Nigerian onshore operations with $2.4 billion sale

Shell is set to conclude almost 100 years of onshore oil and gas operations in Nigeria by selling its subsidiary to a consortium of local companies for up to $2.4 billion. 

German farmers block Berlin as protests erupt against fuel subsidy cuts and rising costs

Berlin's city center faced a standstill as thousands of German farmers, supported by workers from various industries, protested against rising costs and the government's plan to phase out agricultural fuel subsidies. 

US authorities investigate Aspiration’s carbon credit practices amid LA Clippers’ green partnership

The Justice Department and Commodity Futures Trading Commission are reportedly investigating Aspiration, a California fintech, over potential misconduct related to its carbon offset sales. 

Amazon becomes largest purchaser of renewable energy, fourth year in a row

Amazon announced that it invested in 100 new solar and wind energy projects in 2023. This makes Amazon the largest purchaser of renewable energy in the world for the fourth consecutive year. 

Iberdrola and Norges Bank set to invest $2 billion in renewable energy

Iberdrola and the Norwegian sovereign wealth fund, managed by Norges Bank Investment Management, are set to invest $2 billion in renewable energy projects based in Spain and Portugal over the next three years. 

Torrent Power commits $5.7 billion green investment in Gujarat

Torrent Power Ltd, a leading Indian integrated power utility, has pledged a substantial investment of INR 47,350 crore (approximately $5.7 billion) in Gujarat. 

IREDA’s stock surges over 4% as MoU with Indian Overseas Bank boosts renewable energy finance 

Shares of the Indian Renewable Energy Development Agency (IREDA) experienced a notable uptick following the announcement of a collaboration with the Indian Overseas Bank to jointly finance renewable energy projects. 

IIP partners with Airbus to advance SAF development

The Indian Institute of Petroleum (IIP) is set to sign a Memorandum of Understanding (MoU) with Airbus, a European global aerospace corporation, to collaborate on the development, testing, and certification of indigenous Sustainable Aviation Fuel (SAF) in India. 

Industry leaders pledge “nature-positive” mining

In a five-point plan announced in Davos, Switzerland, mining and metals companies representing a third of the global industry acknowledged past harm and said decarbonization must not be at the expense of nature.

105 financial institutions become early adopters of nature-related financial disclosures

On Tuesday, over 100 financial institutions across the globe including Schroders, Robeco, Nomura Asset Management, Mirova, Fidelity International, Federated Hermes, and Candriam, declared that they will begin releasing TNFD-aligned financial disclosures, either starting in 2024 or 2025 at the latest. 

EU bans ‘misleading’ sustainability claims relying on offsets

The EU parliament on Wednesday voted to ban the use of terms such as “climate neutral” or “climate positive” for products and services. This decision comes amidst rising greenwashing concerns amongst companies that rely on carbon offsets for these claims. 

FCA forms sustainability working group for financial advice

The Financial Conduct Authority (FCA) has established a new working group to enhance sustainable finance capabilities across the financial advice sector. 

World Bank prices CAD $1.4 billion 5-year benchmark bond for sustainable development projects

The World Bank's International Bank for Reconstruction and Development (IBRD) has successfully priced a new 5-year CAD $1.4 billion benchmark bond maturing in January 2029. 

UK government grants Drax approval for carbon capture project

The UK government has granted approval to Drax for its planning application to convert two biomass units at the Drax power station to utilize bioenergy with carbon capture and storage (BECCS) technology. 

ACC partners with Circulor to trace carbon emissions in EV battery supply chains

Automotive Cells Co (ACC), a joint venture between Stellantis, TotalEnergies, and Mercedes-Benz Group, has joined forces with UK startup Circulor to verify the origin and embedded carbon emissions of raw materials used in electric vehicle (EV) battery cells. 

London is not equipped for the consequences of climate change: report

London is inadequately prepared for the imminent challenges of heatwaves, flooding, and rising sea levels, according to a report commissioned by Mayor Sadiq Khan.

South Korea steel giant Posco raises $500 million in 3 tear US dollar green bond

Posco, South Korean steel giant, has achieved a significant milestone by securing $500 million through a three-year US dollar green bond, as disclosed in a term sheet reviewed by Reuters. 

Bulgaria climate minister says market economics will phase out coal by 2038

Market economics are likely to slash Bulgaria's use of coal-fuelled power years before the government's official 2038 phase out date, the country's climate minister said on Monday.

Saving glaciers by taxing tourists: Alaska town doing it all

Juneau, Alaska, is addressing the impact of tourism-related emissions on its environment with a distinctive initiative. 

Breakthrough development for India’s nuclear energy industry: ANEEL

A breakthrough innovation in India’s nuclear energy industry, called ANEEL (Advanced Nuclear Energy for Enriched Life), is gaining attention. 

China announces annual greenhouse gas inventory

China has announced plans to conduct an annual inventory of its greenhouse gas emissions, a move aimed at enhancing its carbon trading capabilities and meeting […]

Reuters reports: JSW proposes to outbid Adani Power for coal power plant 

A Reuters report published today claims that India’s JSW has proposed to outbid Adani Power for the possession of a thermal power plant, the Amarkantak project. 

BBVA and Cabify finalize €15 million to promote sustainable mobility in Spain 

BBVA Spark, a multinational financial services company, on Thursday announced its approval of a €15 million 'Venture Debt' facility for Cabify, in a bid to promote sustainable mobility in Spain. 

Methane drama: Republicans smash EPA; big oil’s involvement found in small producer testimonies

The US Environmental Protection Agency (EPA) has come under fire from House Republicans for its Methane Emissions Reduction Program. 

Finance Minister announces fin-tech lab to facilitate green credit trading

Speaking at the Vibrant Gujarat Global Summit 2024, Finance Minister Nirmala Sithraman announced the creation of a fin-tech lab at GIFT City, to facilitate the trade of green credits. 

Xpansiv acquires stake in Evident to boost expansion into green energy markets

Xpansiv Limited, an infrastructure provider for global energy transition, and Evident Group Limited, a clean economy registry provider and certification body, have reached an agreement in which Xpansiv has acquired a minority interest in Evident.

Electrolux announces second round of science-based climate targets

Electrolux Group yesterday announced its second round of science-based climate targets after they reached their previous targets three years before planned. 

Japanese refiner Eneos invests in clean hydrogen production in the US Gulf Coast

In a strategic move towards fostering a sustainable energy future, Japan's leading refiner, Eneos Corp, has announced a significant investment in MVCE Gulf Coast. 

Croatian energy giant INA to invest €40 million in biomethane plant conversion

INA, the Croatian energy company, is set to invest €40 million in transforming a former petroleum refinery in Sisak into a biogas and biomethane production facility. 

Gasum secures offtake agreement for e-methane production in Finland

Finnish energy company Gasum has entered a significant agreement with Nordic Ren-Gas for the purchase of all e-methane produced at the Tampere power-to-gas plant from 2026 onwards. 

Deadlock at COP28: Disagreements on Article 6, regulation of carbon markets

The 28th Conference of Parties (COP28) to the United Nations Framework Convention on Climate Change concluded in Dubai with countries failing to reach an agreement on Article 6 of the Paris Agreement. 

Switzerland and Thailand complete deal on first-ever Paris Agreement carbon credits transfer

In a move for carbon markets worldwide, Switzerland and Thailand have finalized the first-ever transaction involving Article 6.2 carbon credits, signifying a significant step in emissions reductions under the Paris Agreement.

Experts predict 2024 could surpass 2023 as hottest year 

Experts are forecasting that 2024 might surpass 2023 as the hottest year in recorded history, attributing this prediction to the exacerbating effects of climate change and the influence of the El Niño phenomenon.

Singapore firms to invest $5 billion in Tamil Nadu, sectors include sustainability and tech

Singaporean companies have unveiled plans to invest a staggering $5 billion in diverse sectors including infrastructure, technology, sustainability, and data centers in Tamil Nadu, marking an expansion of Singapore's footprint within the southern Indian state.

Global coalition calls on major banks to halt funding for metallurgical coal projects

A collective force of more than 67 organizations has united in an open call urging the world's largest banks to cease financial support for new metallurgical coal production and expansions.

TAQA’s $10 billion green hydrogen venture in Western Sahara sparks renewables surge

Abu Dhabi's TAQA, the national energy company, is entering into sustainable energy with plans to invest 100 billion Moroccan dirhams, equivalent to $10 billion, in a colossal 6-gigawatt (GW) green hydrogen project. 

Altus Power secures $100 million credit facility from Goldman Sachs and CPPIB 

Altus Power, a clean energy giant,  has successfully closed a secured credit facility valued at $100 million, courtesy of an affiliate of Goldman Sachs Asset Management and CPPIB Credit Investments III Inc., a subsidiary of Canada Pension Plan Investment Board. 

Scottish scientists turn whisky by product into sustainable fuel

A breakthrough discovery at Heriot-Watt University Edinburgh Campus in Scotland has potentially revolutionized the future of sustainable fuel production by utilizing wastewater from the whisky industry to generate green hydrogen. 

RBI unveils framework for green deposits – FAQs answered

In a bid to foster sustainable practices in the financial sector, the Reserve Bank of India (RBI) has recently released comprehensive guidelines for green deposits. 

Tesla and popular EVs face stricter tax credit eligibility amid electric vehicle policy shift

New regulations have tightened the rules around the availability of tax credits for electric vehicles (EVs), potentially reducing the number of eligible vehicles by up to $7,500 starting January 1. 

Antarctica’s transformative changes in 2023 ring alarm bells for global consequences

As the sun hangs perpetually in the sky of the Antarctic summer, scientists have witnessed unprecedented environmental upheavals in 2023, prompting concerns about humanity's lasting impact on the continent.

Australia’s Agriculture Minister cites climate change impact on weather predictions 

Australia's Agriculture Minister, Murray Watt, addressed the challenges in predicting extreme weather events, attributing the difficulty to climate change effects. Speaking on the Australian Broadcasting Corp. radio, Watt highlighted the evolving impact of climate change on traditional weather models.

Older women to sue Switzerland, seeking climate action

The Swiss organization of older women, KlimaSeniorinne, is taking the government to the European Court of Human Rights, alleging insufficient efforts in addressing the climate crisis.

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