Financial Sector

               
Australian securities regulator urges firms to prepare for…
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…
               
Scotiabank’s 2024 Net Zero Research Fund calls out…
Scotiabank, one of Canada’s largest multinational banking firms in Toronto, revealed its call for grant submissions. The Net-Zero Research Fund is open to organizations within…
               
Climate bonds standard expands certification to promote deforestation-free…
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…
               
Bhutan, Tiger Conservation Coalition to raise $1 billion…
The Sustainable Finance for Tiger Landscapes Conference ended positively, a landmark event for global conservation. Her Majesty The Queen of Bhutan inaugurated the conference, championing…
               
Enel raises coupons on $11 billion ESG bonds…
Enel SpA will increase the interest payments on its sustainability-linked bonds following a penalty triggered by its failure to meet greenhouse gas emissions targets in…
               
Passive funds may face hurdles in UK’s new…
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…
               
Mongolia signs nature finance deal to preserve grasslands
Mongolia’s government and a coalition of partners have inked a nature finance agreement to protect 35.6 million acres (144,000 square km) of the country’s lands…
               
JSW Energy secures letter of award for 700…
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…
               
New Zealand commits $25 million to ADB’s energy…
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…
               
World Bank secures $11 billion in pledges for …
In a significant move to address pressing global issues, the World Bank said countries have committed to contributing more than $11 billion to new hybrid…
               
Financial firms rally for treaty to combat plastic…
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…
               
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. 
               
Financial sector urge for international treaty to curb…
A group of 160 financial companies on Friday urged governments to agree on a treaty to end plastic pollution, which would enable them to make…
               
Banks wake up as physical risks of climate…
As banks strive to limit global warming to 1.5°C, they face increasing financial risks. With each temperature rise, the threat of economic upheaval grows, challenging…
               
Strategies for accelerated climate finance according to the…
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…
               
Scotiabank issues first €1 billion green bond in…
Scotiabank has launched its first-ever €1 billion, 5-year senior fixed-rate green bond in the European market. This issuance aligns with Scotiabank's Sustainable Issuance Framework, released…
               
Singapore, partner to raise $5 billion to support…
Singapore plans to raise $ 5 billion along with its international partners that will help finance climate initiatives in Asia, the Monetary Authority of Singapore…
               
World Bank approves billion-dollar loan to boost Pakistan’s…
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.…
               
World Bank greenlights $1 billion for  Dasu project
The World Bank approved a $1 billion loan to finance the Dasu hydropower project in Pakistan, aiming to make electricity more affordable. 
               
Mounting debt mean climate investment pose insolvency risk…
Emerging countries will pay a record $400 billion to service external debt this year, and nearly four dozen cannot spend the money they need for…
               
Climate advocates push Japan’s top banks for stricter…
Climate groups, including Australia's Market Forces, Japan's Kiko Network, and a representative from the Rainforest Action Network, have submitted shareholder proposals to Japan's leading banks,…
               
Debt-for-nature swaps could generate $100 billion for climate…
A recent report by the International Institute for Environment and Development (IIED), a UK-based non-profit organization, suggests that debt-for-nature swaps could potentially yield $100 billion…
               
Global coal power surges 2%, China a leading…
The world’s coal-fired power capacity saw a record 2% increase last year, primarily fueled by new constructions in China and delays in decommissioning elsewhere, according…
               
Global carbon credit market to hit $84.4 billion…
As efforts to combat climate change intensify, there are currently 73 carbon pricing mechanisms in operation worldwide as of April 1, 2023. These mechanisms collectively…
               
Citigroup, JPMorgan, Royal Bank of Canada to disclose…
Citigroup, JPMorgan, and the Royal Bank of Canada (RBC) will introduce a new climate measure under deals by New York City Comptroller Brad Lander. 
               
EU’s $43 billion fund to be the high-stakes…
Early outcomes from the European Union's Innovation Fund, a €40 billion ($43 billion) investment initiative pivotal to Europe's zero-carbon economy goals by mid-century, are surfacing. 
               
Canadian airlines and shippers urge Ottawa for increased…
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…
               
Citi agrees to disclose clean energy financing ratios…
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,…
               
Adani Group unveils plan for world’s largest renewable…
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…
               
New study reveals 80% of sustainable bonds fail…
New research from the investor-oriented nonprofit Climate Bonds Initiative (CBI) indicates that over 80% of the 768 sustainability-linked bonds issued between 2018 and November of…
               
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…
               
Vietnam receives $51.5 million payment for carbon credits…
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…
               
Invesco unveils $2.1 billion fund tackling water scarcity,…
On World Water Day, analyst Mahi Roy highlighted five US-based funds and several companies dedicated to enhancing water access quality and tackling various water-related challenges. 
               
Activists urge major banks to halt financing for…
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,…
               
Canadian Banks acknowledge challenges in green financing emission…
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…
               
BNPP AM launches new fund targeting global net…
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…
               
HSBC, NatWest face allegations of funding North Sea…
Two prominent UK high street banks stand accused of continuing to finance the expansion of fossil fuels in the North Sea despite having pledged to…
               
Multilateral lender approves $85 million investment for North…
The Climate Investment Funds (CIF), a multilateral lender, announced on Wednesday its approval of an $85 million investment aimed at assisting North Macedonia in transitioning…
               
Enpal secures EUR 1.1 billion to accelerate residential…
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…
               
Chevron resolves Kern County oil spills with $13…
According to the California natural resources agency on Wednesday, Chevron has agreed to settle with two California state agencies for previous oil spills in Kern…
               
Constellation Energy raises $900 million in green bond…
Constellation Energy has made history by announcing the successful completion of a $900 million green bond offering, marking the first of its kind in the…
               
Swiss National Bank stands firm on investment policy…
The Swiss National Bank (SNB) has reiterated its stance on environmental considerations, stating that it will not alter its investment strategies because of climate change.…
               
UK bank funds Greensphere’s venture into nature, climate…
On Wednesday, Greensphere Capital announced that it had secured backing from the UK Infrastructure Bank (UKIB) for its first fund, which aims to commercialize nature…
               
Hedge fund veteran proposes carbon footprint strategy for…
To tackle climate change, alternative investment expert Andrew Hohns is pioneering a strategy to help banks slash their carbon footprint. Formerly of Mariner Investment Group…
               
African Development Bank chief calls for end to…
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…
               
$30 million facility to boost renewable energy financing…
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…
               
CIWM launches new fund for circular economy businesses
The Chartered Institution of Wastes Management (CIWM) has introduced a new fund to assist circular economy businesses in their growth by providing "fully-funded brand communications,…
               
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…
               
NZBA members commit to emissions reduction goals for…
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…
               
Banking climate coalition to report on capital markets…
On Wednesday, a climate coalition supported by the United Nations and focused on banking released revised guidelines for its members. 
               
Climate fund investors, Microsoft pour $18 million into…
Konexa, a UK-based integrated energy development and investment platform, has finalized financial arrangements and invested $18 million. 
               
AIIB and BNDES strengthen cooperation for sustainable development…
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…
               
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…
               
US Treasury steps away from collecting insurer data…
The US government is shifting away from collecting data on home insurance prices and availability at the zip code level as premiums rise and climate…
               
Valmet Oyj raises EUR 200 million with inaugural…
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.…
               
Osun State secures $80 million investment for infrastructure…
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…
               
Green groups slam SEC over exclusion of Scope…
The US Securities and Exchange Commission approved new climate disclosure requirements for public companies, part of the Biden administration's climate policy. 
               
Royal Bank of Canada to triple renewable energy…
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…
               
Urja Sathi secures INR 3.5 million seed funding…
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.
               
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. 
               
Singapore’s biggest bank grows sustainable financing to $52…
Singapore's largest bank, DBS Group, announced on Wednesday that it had increased its sustainable financing commitments by 37.3% to 70 billion Singapore dollars ($52.10 billion)…
               
Africa set to fall $2.5 trillion short of…
A UN official stated that Africa will lack $2.5 trillion in climate finance by 2030 despite contributing the least to greenhouse gas emissions and facing…
               
Green bond sales hit record $54.7 billion in…
Green bonds, the largest type of sustainable debt, experienced their busiest February ever amidst a surge of global debt offerings.
               
LIC Housing Finance plans green bond issuance to…
LIC Housing Finance to issue green bonds in FY, backing eco-friendly housing. MD pledges focus on green financing for sustainable projects.
               
Regulatory hurdles & greenwashing deter clients from $1.5…
As highlighted by insiders, corporate clients are increasingly withdrawing from the world's second-largest ESG debt market due to added regulations, reduced incentives, and fears of…
               
Spanish bank to invest $54 million in solar…
Spanish investment bank Banca March and its clients will invest €50 million ($54 million) in a clean energy initiative to construct 1.8 GW solar and…
               
BBVA to launch new global finance unit for…
BBVA of Spain will establish a new global finance unit focusing on clean technologies and innovation to grow its sustainable business, announced Chairman Carlos Torres…
               
Morgan Stanley Joins PCAF committee to standardize carbon…
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…
               
ESG investors flock to BNP money market funds…
BNP Paribas Asset Management reports that ESG clients increasingly investing in money market funds because they are attracted to the stable returns offered by cash-like…
               
Canada returns to green bond market with inclusion…
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…
               
Verizon settles $1 billion green bond offering for…
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…
               
West Virginia threatens blacklisting of six major banks…
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…
               
Brazil partners with largest climate finance alliance to…
Brazil, on Monday, revealed its collaboration with the world's largest financial climate coalition to enhance funding for clean energy and nature restoration initiatives, including the…
               
IMF advises Pacific Islands to explore debt-for-nature deals
Pacific Islands facing the most sea-level threats should explore debt-for-nature agreements due to unsustainable traditional loans, suggested a senior IMF official on Tuesday. 
               
Activists push back against EU’s decision to exclude…
Climate activists urge the European Union to rethink its choice to leave banks out of a crucial deforestation rule, aiming to avoid an official review…
               
Thermal battery maker raises $150 million investment led…
On Thursday, Antora Energy, a thermal battery manufacturer, announced that it has secured $150 million in funding. 
               
France’s Engie takes $774 million blow on US…
On Thursday, France's Engie announced a 714 million euro ($774 million) impairment charge for last year due to issues with onshore wind turbines in the…
               
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…
               
Germany allocates up to $3.8 billion for future…
According to the economy ministry, Germany plans to allocate up to 3.53 billion euros ($3.8 billion) in public funds for acquiring green hydrogen and its…
               
IMF reaches agreement with Ivory Coast for $1.3…
On Friday, the International Monetary Fund (IMF) announced that it had reached a staff-level agreement with Ivory Coast for a $1.3 billion program to combat…
               
EY joins hands with Microsoft to launch climate…
EY Canada announced that it has collaborated with Microsoft Azure and launched an EY Climate Stress Testing and Scenario Analysis solution to assist Canada’s financial…
               
IFC invests $10 million in Tajikistan’s first local…
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,…
               
Activists barge into Canada finance minister’s office, insist…
Climate activists storm into Canadian Finance Minister Chrystia Freeland's Toronto office, urging the government to include bank climate regulations in its 2024 budget. 
               
World Bank allocates $300 million for renewables &…
The World Bank has allocated nearly $300 million to the Eastern and Southern African Trade and Development Bank (TDB) to boost distributed renewable energy and…
               
US Treasury: Dealers reimbursed $135 million in EV…
The US government has refunded auto dealers approximately $135 million in advance electric vehicle (EV) tax credit payments from the beginning of the year until…
               
Canada rebrands carbon tax, highlights rebates
The Canadian government, aiming to protect its crucial carbon tax from opposition criticism, introduced a new branding strategy. 
               
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…
               
Europe may need more private funds to achieve…
The EU may need to push more private funds into sustainable investments to achieve its net zero economy targets, as revealed in an EU discussion…
               
Barclays releases revised climate change statement & transition…
Barclays has released a revised Climate Change Statement as part of its ongoing climate strategy. It also introduced a Transition Finance Framework to help meet…
               
French minister says public funds for climate efforts…
On Tuesday, French Finance Minister Bruno Le Maire emphasized that combating climate change now relies on private sector funding, as public financing from France and…
               
CEOs prioritize sustainability even if short-term profits decrease:…
CEOs are ready to make expenditures that address environmental, social and governance (ESG) issues even if doing so reduces short-term profitability, according to the PwC’s…
               
Mainland China’s stock exchanges release guidelines for sustainability…
Mainland China’s major stock markets, the Shanghai Stock Exchange (SSE), Shenzhen Stock Exchange (SZSE), and Beijing Stock Exchange (BSE), have released their guidelines for listed…
               
Higher production boosts Coal India’s third-quarter profits beyond…
Coal India reported a higher-than-expected third-quarter profit on Monday as the state-run miner increased production to meet rising electricity demand in the country. The company…
               
LSEG report record $949 billion in global carbon…
In 2023, global carbon dioxide (CO2) permit markets hit a record value of 881 billion euros ($948.75 billion), marking a 2% increase from the previous…
               
ADIB commits to fostering sustainability through ‘VOLT’ electric…
Abu Dhabi Islamic Bank (ADIB) announced that its financing program for electric cars, ‘VOLT’, has witnessed excellent customer demand. Over 2% of total car financing…
               
Barclays to stop financing oil & gas industry 
Barclays, Britain's largest lender to the oil and gas sector, told Reuters that it would stop directly financing new oil and gas fields and limit…
               
Blended finance is the viable path to a…
Blended finance, a combination of private and public capital, can offer a viable pathway to accelerate the transition to a low-carbon economy in developing countries,…
               
HSBC to partner with Google to finance climate…
HSBC, the largest bank in Britain, has teamed up with Google to fund rapidly expanding climate technology companies that offer promising solutions to global climate…
               
Carbon credit market projected to surpass $343.6 billion…
According to a research study by Global Market Insights Inc., the carbon credit market is expected to hit $343.6 billion by 2032. 
               
Emirates NBD partners with Sidara for $50 million…
Emirates NBD (banking group in the MENAT region) has partnered with Sidara (specialist architecture, engineering, and consulting brands collaborative) to arrange a $50 million Sustainability…
               
NYC pension funds urge Royal Bank of Canada…
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…
               
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…
               
China poised for accelerated green bond issuance in…
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…
               
UK renters urge sustainable property upgrades: NatWest and…
A new report from NatWest and S&P Global indicates that 75% of UK renters anticipating higher rental costs want landlords to enhance property sustainability. Natwest’s…
               
Retired teachers lead campaign urging Wisconsin pension fund…
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…
               
UK green bond sale oversubscribed 3 times, eases…
In a reassuring turn of events, a sale of UK green bonds on Tuesday witnessed the highest level of oversubscription in four years, dispelling fears…
               
GEF Council approves $916 million for urgent environmental…
On February 5, the Global Environment Facility allocated $916 million for international action on biodiversity, climate change, nature renewal, and pollution control and to advance…
               
Hong Kong sells $750 million in digital green…
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…
               
BlackRock CEO seeks common ground with Texas post…
BlackRock's CEO Larry Fink aimed to connect with Republican officials at a Houston energy summit after Texas banned the asset manager due to its shift…
               
Asian Development Bank raises $150 million for green…
The Asian Development Bank (ADB) has raised ₹12.5 billion (about $150 million) from the green bond issue to date. ADB’s bond will support projects in…
               
OCBC doubled SME sustainable financing in 2023
Singapore's Oversea-Chinese Banking Corp (OCBC) has more than doubled its sustainable financing, OCBC head of global commercial banking Linus Goh said during a media briefing.
               
Growing interest in sustainable investing among individual investors:…
A new report titled “Sustainable Signals,” published by Morgan Stanley, has highlighted a surge in global individual investor interest in sustainable investing. 
               
Deutsche Bank unit expects divestments following new ESG…
Deutsche Bank's investment unit needs to sell more than 5% of its investments in certain ESG funds as a result of new regulations from the…
               
Hong Kong to host green finance training for…
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. 
               
India’s 2024 budget unveils strategies to fasten net…
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…
               
Germany’s climate fund falls short of $10.8 billion,…
Germany's fund for addressing climate issues and transformation may fall short by up to €10 billion ($10.8 billion) next year, which could challenge the country's…
               
Japan Bank for International Cooperation (JBIC) partners with…
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…
               
UK banks might hold too little funds to…
In a letter to the Bank of England, seen by Reuters, a group of investors, including major pension schemes from the UK and Europe, expressed…
               
ADB sets climate finance record with $9.8 billion…
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…
               
European Central Bank announces climate and nature plan…
The European Central Bank (ECB) has introduced a new "climate and nature plan 2024-2025" to address the increasing impact of the climate crisis on the…
               
Canadian pension fund under scrutiny for $100 million…
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…
               
US agricultural officials challenge banks over Net-Zero Banking…
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…
               
Carbon Capture and Storage market set to surge…
The Carbon Capture and Storage (CCS) Market is poised for significant growth, projected to reach a substantial value of $18.1 billion by 2033, according to…
               
How do we address climate finance challenges in…
To meet carbon emission reduction targets, Asia requires at least $1.1 trillion annually for climate-related initiatives, noted a new report published by the International Monetary…
               
Climate-focused fund investments drop by 75% in the…
While the world is trying to sprint through the race against climate change, climate investments have taken an antithetical turn in the US. 
               
ARMSWISSBANK joins the Partnership for Carbon Accounting Financials
Recognizing the importance of sustainable financing and transparent reporting, ARMSWISSBANK has officially joined the Partnership for Carbon Accounting Financials (PCAF). The bank said that it…
               
Methane hydrate extraction market: Study provides forecast for…
The methane hydrate extraction market is projected to reach 66,901.8 thousand cubic meters by 2025, notes a study by Allied Market Research. 
               
ESG funds hit historic lows in nearly two…
ESG (Environmental, Social, and Governance) investing had a tough time in the last three months of 2023. ESG funds in the US lost over $5…
               
EU’s ambitious net zero goal demands 1.5 trillion…
Research by a group of Green EU lawmakers says that the European Union needs to invest 1.5 trillion euros (about $1.6 trillion) every year to…
               
Carbon credits-backed insurance startup raises $12.17 million funding
A new insurance startup, founded by three former Allianz executives, has completed the largest climate-focused seed funding round in Europe in over a year. 
               
Barclays banned from Texas municipal bond market over…
Texas Attorney General Ken Paxton announced last week that Barclays is barred from underwriting Texas’s municipal bonds due to its failure to respond to requests…
               
APAC firms embrace ESG metrics in executive incentive…
A recent study by WTW revealed a significant rise in adopting Environmental, Social, and Governance (ESG) metrics within executive incentive plans across Asia Pacific (APAC)…
               
HSBC unveils net zero transition plan: Pioneering steps…
In a move towards environmental responsibility, HSBC, one of the world’s largest international banks, has unveiled its Net Zero Transition Plan. 
               
World Bank approves $300 million Resilient Recovery Development…
The World Bank has approved a $300 million Resilient Recovery Development Policy Financing for Ghana. The contribution by the International Development Association (IDA) will help…
               
ESG1 & Rain Cage Carbon collaborate for digital…
ESG1 (sustainability division of oil & gas blockchain company GuildOne) and Rain Cage Carbon (company dedicated to decarbonizing industries) announced a new partnership to create…
               
ADB prioritizes private capital mobilization for climate goals…
The Asian Development Bank (ADB) has announced plans to deploy private capital as a significant part of its strategy to address urgent climate goals. 
               
Monetary Authority of Singapore launches Singapore Sustainable Finance…
The Monetary Authority of Singapore (MAS) on January 24 launched the Singapore Sustainable Finance Association (SSFA) to support the country’s shift to a low-carbon economy.…
               
UN overcomes sanctions by opening Russian bank account…
The United Nations has taken an unconventional step to navigate Western sanctions by opening a Russian bank account in 2022. 
               
Sparkion joins hands with Voltus to enhance US…
Sparkion (AI-driven energy management company) announced a partnership with Voltus, Inc. (distributed energy resource platform) to support grid reliability in the US and enhance energy…
               
Investors dread as Green Asset Ratio is set…
European banks are cautioning investors not to focus too much on the upcoming Green Asset Ratio, an ESG metric, as early estimates suggest the industry…
               
EBA proposes guidelines on ESG risk management for…
The European Banking Authority (EBA) has initiated a public consultation on draft Guidelines addressing the management of Environmental, Social, and Governance (ESG) risks. 
               
Asian Development Bank & British International Investment launch…
The Asian Development Bank (ADB) and British International Investment (BII) announced the launching of a new trade finance partnership to promote green trade in Asia…
               
Recurrent Energy secures $500 million investment commitment from…
Recurrent Energy, a subsidiary of Canadian Solar Inc., announced that it has secured a $500 million preferred equity investment commitment from BlackRock, convertible into common…
               
Report: US state pensions not doing enough to…
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…
               
UK pension funds & insurers prioritize net-zero goals…
A survey of UK pension funds and insurers, who manage £359.82 billion in assets, found that 72% identified measurable targets and benefits, such as achieving…
               
Green finance pioneer Uruguay seeks ESG loans from…
Uruguay aims to borrow at least one multilateral loan with low-interest rates linked to environmental goals this year. 
               
US oil refiners urge Biden administration to reform…
US oil refiners, including Coffeyville Resources Refining and Marketing and Wynnewood Refining Company, are urging President Biden's administration to change the renewable fuel credit program. 
               
Global CO2 removal market: Report identifies key developments…
According to a new report published by Research and Markets, the global carbon dioxide removal (CDR) market experienced significant growth from 2022 to 2023. 
               
Mashreq and Fils collaborate on corporate carbon offset…
Mashreq (financial institution in the Middle East and North Africa region) has signed a Memorandum of Understanding (MoU) with the Fils (UAE-based fintech firm) to…
               
ESG debt swaps grab interest of top global…
Several banks are competing to tap into a growing market focused on Environmental, Social, and Governance (ESG) debt, estimated to potentially reach $800 billion by…
               
AIIB invests $58.4 million in India’s Sustainable Energy…
The Asian Infrastructure Investment Bank (AIIB) has invested around $58.4 million (₹4.86 billion) in India’s Infrastructure Investment Trust, Sustainable Energy Infra Trust (SEIT). AIIB plans…
               
UNDP & Warba Bank to launch free online…
The United Nations Development Programme’s (UNDP) Istanbul International Center for Private Sector in Development (ICPSD), UNDP Kuwait, and Warba Bank announced the launch of a…
               
Friends of the Earth initiates climate lawsuit against…
Friends of the Earth Netherlands (climate organization) announced that it is starting a climate lawsuit that will hold ING (Dutch multinational banking and financial services…
               
TexPlast partners with FasterCapital to expand plastic recycling…
TexPlast, an Estonian recycling startup, has announced its collaboration with FasterCapital to expand its efforts in converting waste plastic into premium polymer composite materials. While…
               
Jupiter Exchange launches Jupiter Environmental Commodities to drive…
Jupiter Exchange (financial services and technology company) has launched a new business segment dubbed Jupiter Environmental Commodities. Jupiter plans to expand its industry partnerships globally…
               
DefiQuant announces new eco-friendly initiative in cryptocurrency mining
DefiQuant announced the introduction of a new initiative to integrate a sustainable approach to cloud mining. This initiative will align with environmental goals and also…
               
IREDA’s stock surges over 4% as MoU with…
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…
               
MYTILINEOS unveils 588 MW solar portfolio in Chile,…
MYTILINEOS Energy & Metals announced the development of a 588 MW solar portfolio in Chile, which is expected to produce approximately 1.6 TWh of green…
               
BP, Sinopec sign MoU to strengthen cooperation in…
China’s oil major Sinopec and BP signed a memorandum of understanding (MoU) at the World Economic Forum in Davos. The agreement aims to enhance cooperation…
               
105 financial institutions become early adopters of nature-related…
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…
               
Green Star partners with Locus AG for CarbonNOW:…
Green Star Royalties Ltd. has partnered with Locus Agricultural Solutions LLC to enhance the operations and investment in Locus AG's regenerative agriculture carbon farming program,…
               
Climate advisors tell EU to revamp its existing…
Official advisors have told the European Union to revise its climate policies to promptly move towards the phase-out of fossil fuels and achieve climate targets…
               
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. 
               
Extinction Rebellion to protest against Barclays’ fossil fuel…
Extinction Rebellion (an international movement persuading governments to act on the climate emergency) will continue its campaign against Barclays’ fossil fuel investments. 
               
World Bank prices CAD $1.4 billion 5-year benchmark…
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. 
               
Sweden’s Northvolt raises largest green loan in Europe…
Swedish lithium-ion battery producer Northvolt said that it has raised $5 billion, the largest green loan to have been issued in Europe, to expand the…
               
Sustainable Aviation Fuel market revenue to hit $15…
The global sustainable aviation fuel (SAF) market size will see a compound annual growth rate of over ~42% from 2023 to 2035, according to a…
               
Greenpeace voices environmental concerns on Bitcoin ETFs
Greenpeace USA has raised concern about the US Securities and Exchange Commission's (SEC) approval of Bitcoin spot exchange-traded funds (ETF) from BlackRock and Fidelity.
               
Asset management firm says Biden’s climate law has…
One of the world’s largest green investment manager, Impax Asset Management, is expressing the problems in President Joe Biden’s landmark climate law.
               
RMB joins hands with KOKO to advance clean…
Rand Merchant Bank (an investment banking business) announced last week a strategic partnership with KOKO (a company that operates within the energy, climate, media, and…
               
Finance Minister announces fin-tech lab to facilitate green…
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…
               
BNP Paribas Asset Management releases new global sustainability…
BNP Paribas Asset Management released the new version of its Global Sustainability Strategy (GSS) updating the strategic approaches of the organization. The report lays out…
               
US Treasury Secretary to visit Boston to promote…
US Treasury Secretary Janet Yellen is set to visit Boston on Wednesday for another tour aimed at advocating the economic advantages of the Biden Administration's…
               
India’s SBI raises $250 million through green bonds
State Bank of India (SBI), the largest lender in India, has declared the successful completion of placing $250 million in senior unsecured Green floating rate…
               
Wall Street is set to fuel a $1…
At COP28 in Dubai, financial institutions such as Goldman Sachs, Citigroup, JPMorgan Chase, and Barclays are preparing for an uptick in carbon offset transactions, poised…
               
US solar panel makers at odds with Biden…
Two of US solar companies have questioned the Biden administration's decision to delay tariffs on certain panels imported from Southeast Asia until early June. 
               
Global coalition calls on major banks to halt…
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…
               
Republicans target Biden’s $400 billion Green Bank, recalling…
Congressional Republicans are targeting President Joe Biden’s $400 billion green bank, aiming to replicate the political success they achieved in 2011 with the scandal surrounding…
               
 ‘Transition Finance’ takes spotlight in 2024 
In a notable shift, 'Transition finance' is set to emerge as a pivotal focus of 2024, taking center stage as a critical topic for individuals…
               
World’s biggest banks report $3 billion from green…
The largest global lenders collectively earned about $3 billion in fees in 2023 by facilitating debt for deals positioned as environmentally sustainable, as per Bloomberg's…
               
Chevron to take a $4 billion hit from…
Oil giant Chevron Corp is set to incur a write-down of asset value ranging from $3.5 billion to $4 billion, citing restrictive government policies in…
               
RBI unveils framework for green deposits – FAQs…
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…
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…
               
ING faces public outcry as climate activists block…
The Amsterdam police detained around 300 climate activists on Saturday after they blocked a key highway in the Dutch capital for several hours. 
               
Developing nations face the most climate finance challenges,…
Amidst the relentless onslaught of the climate crisis, developing nations find themselves on the frontlines, grappling with distinct vulnerabilities such as floods, droughts, and unpredictable…
               
Spain confirms closure of nuclear plants, extends renewable…
On Wednesday, Spain officially affirmed its intention to shut down the country's nuclear plants by 2035 and announced a set of energy measures that also…
               
Vietnam generates $41 million from forest carbon credits…
Vietnam has reported earnings exceeding $41 million from the sale of forest carbon credits, marking the successful execution of an emission reduction agreement with the…
               
EU, UK extend deadline for EV makers to…
On Thursday, the European Union and the United Kingdom reached an accord to extend the deadline for electric vehicle (EV) manufacturers to adhere to local…
               
Brazil’s BRF issues its first ‘green loan’ for…
BRF SA, the Brazilian chicken and pork processor, revealed on Thursday that it has linked sustainability objectives to a $150 million credit facility from the…
Woodside’s shareholder rejects climate plan

Woodside’s shareholders on Wednesday voted against the company’s climate plan, halting its plan for new fossil fuel projects and dealing a significant blow to Australia’s […]

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 […]

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

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

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 […]