23-Avr-2024
Zambia halts issuance of charcoal production permits to save trees
The Zambian government has stopped the issuance of cordwood permits for charcoal production in an effort to control rampant deforestation.
23-Avr-2024
KLP, LGIM to vote against Woodside’s climate plans
Norway’s largest pension fund, KLP, and Britain’s biggest asset manager, LGIM, are the latest investors to say they will vote against Australian oil and gas company Woodside’s climate report at its annual general meeting, citing concerns over its carbon transition plans.
23-Avr-2024
Chevron launches USD 500 million cleantech fund
The venture arm of oil and gas giant Chevron has launched its third Future Energy Fund with a commitment of USD 500 million to invest in low-carbon technologies for power, industry and transport.
23-Avr-2024
ETA to launch carbon offset guidelines
The US State Department’s Energy Transition Accelerator will unveil guidelines in the coming days for the use of carbon offsets inside and outside of government, officials have said.
23-Avr-2024
Multilateral Development Banks pledge up to USD 400 billion
Ten multilateral development banks stated their intention to generate USD 300-400 billion of additional funding over the next decade and increase common engagement on climate. Meanwhile, 11 countries pledged USD 11 billion towards the World Bank Group’s Portfolio Guarantee Platform.
23-Avr-2024
Astarte, SilviPar launch USD 325 million Impact Forestry Fund
Investment firm Astarte Capital and forestry developer SilviPar closed their inaugural Silvipar Astarte Impact Forestry Fund (SAIFF) at USD 325.3 million, well above an initial target of USD 200 million. Its target country for investment is Paraguay.
23-Avr-2024
Singapore, partners to raise USD 5 billion Asian fund for climate projects
Singapore is spearheading an initiative designed to mobilise USD 5 billion via public-private partnerships, alongside global partners, to support climate-focused projects throughout Asia. Details were made available by the Monetary Authority of Singapore.
23-Avr-2024
US shields Alaskan wilderness from drilling and mining
The Biden administration announced it would ban drilling in more than half of the National Petroleum Reserve in Alaska, and deny a permit for the construction of a road that would make possible the mining of a large copper deposit.
23-Avr-2024
SABA to purchase USD 200 million of SAF
The Sustainable Aviation Buyers Alliance (SABA) unveiled what it described as the largest ever collection of deals to purchase ‘high-integrity SAF’ certificates. These will cover about 50 million gallons of fuel, equivalent to 500,000 tons of abated CO2e.
23-Avr-2024
Unilever to scale back environmental and social pledges
Unilever, one of the largest users of plastic packaging in the world, had previously promised to halve its use of virgin plastics by 2025. Instead, it will now aim for a reduction of a third by 2026, Bloomberg reported.
17-Avr-2024
Heinzel sees emission reduction targets validated
Pulp and paper products manufacturer Heinzel has had its near and long-term reduction targets validated by the Science Based Targets initiative (SBTi), including a 42% reduction target by 2030 from a 2021 base year and a net-zero target by 2050.
17-Avr-2024
Climeworks to study large-scale DAC+S deployment in Norway
Developer Climeworks has clinched USD 2.4 million (CHF 2.2 million) in funding from Norwegian state-owned enterprise Enova to conduct a feasibility study for a multi-kiloton-capacity direct air capture & storage (DAC+S) plant.
17-Avr-2024
Prada invests in sustainable aviation fuel credits
Luxury goods maker Prada announced its first investment in sustainable aviation fuel (SAF) credits, using DHL’s “GoGreen Plus” environmentally-friendly freight programme. The total number of credits purchased has not yet been disclosed.
17-Avr-2024
Enfinium to invest USD 250 million in carbon capture project
Waste-to-energy developer Enfinium is pushing forward with plans to invest around USD 250 million (GBP 200 million) in carbon capture and storage technology in North Wales.
17-Avr-2024
SBTi approves Mondelēz 2030 and 2050 net-zero targets
Food group Mondelēz announced that the Science Based Targets initiative (SBTi) validated its near-term 2030 greenhouse gas reduction targets and its net-zero target by 2050.
17-Avr-2024
SBTi allows carbon credits towards Scope 3 offsetting
The board of trustees of the Science Based Targets initiative said it intends to allow the use of environmental attribute certificates (EACs), including carbon credits, towards Scope 3 targets. This appears to represent a significant change in the SBTi's stance on the use of EACs. After the announcement, some staff called for the CEO and board members to resign. Late on Friday, SBTi’s board clarified that no change has (yet) been made to SBTi’s current standards, and any changes still needs to go through its Standard Operating Procedure. More details are due to be published in July.
17-Avr-2024
Toyota Ventures raises USD 300m for climate funds
Toyota Ventures, the carmaker’s early-stage venture capital arm, announced two USD 150 million funds to expand its investments in startups developing disruptive technologies: Toyota Ventures Frontier Fund II (TVFF II) and Toyota Ventures Climate Fund II (TVCF II).
17-Avr-2024
China releases regulations on ecological protection compensation
Chinese Premier Li Qiang signed a decree to introduce new regulations governing ecological protection compensation. These give full play to the role of cross-region management and market mechanisms.
17-Avr-2024
Shareholders file proposal for Japanese bank boards
A coalition of environmental groups filed shareholder proposals with Japan’s top three banks – Mitsubishi UFJ, Sumitomo Mitsui and Mizuho – calling for stricter board oversight of climate-related risks.
17-Avr-2024
Zurich stops underwriting new fossil fuel projects
Zurich Insurance has made a significant policy change, declaring that it will no longer provide new insurance underwriting for oil and gas projects.