Impact News

Low carbon biofuels producer Harvestone Low Carbon Partners (HLCP)announced that it has closed a $205 million tax equity financing with Bank of America to support its North Dakota-based biofuel carbon capture and storage project, marking the first financing of its kind since the passage of the Inflation Reduction Act (IRA).

Battery manufacturer Northvolt announced today plans to scale back its workforce and exit a battery materials production site, following challenges the company is facing in ramping up its ambitious gigafactory buildout plans, and citing a “challenging macroeconomic environment.” The announcements form the initial outcomes from Northvolt’s strategic review, launched by the company in July. Founded […]

The Asian Development Bank announced the approval of a new roadmap aimed at helping the bank scale up support for key challenges facing Asia and the Pacific, including a new commitment to reach more than $100 billion in cumulative climate finance from 2019 to 2030, and for climate finance to reach 50% of its total […]

McKinsey says that Spain and Portugal can lead the transition to green energy through incentive schemes, stable regulation and substantial grid deployment. The shift to renewable energy is central to reducing emissions in line with Paris Agreement commitments. The International Energy Agency says that energy-related emissions rose by 1.1% in 2023 to reach a record […]

This week in ESG news: Microsoft launches new supplier decarbonization team for cloud and AI; competition for clean energy from data centers forces megaton carbon capture project out of state; EcoVadis acquires human rights analytics provider; ESMA report finds transition funds outpacing sustainability funds; Australia senate passes climate disclosure law; new sustainable investing products from […]

Sustainability-focused investor interest appears to have undergone a significant shift towards investments in companies enabling a ‘brown to green’ transition, as opposed to focusing primarily on already-green investments, with net inflows into transition focused funds in the EU nearly doubling those into environmental funds over the past 2 years, according to a new report by […]

California-based climate tech company CarbonCapture announced a decision to pause Project Bison, its Wyoming-based multi-megaton Direct Air Capture (DAC) carbon removal project, due to rapidly growing competition for renewable energy in the state from data center operators. Founded in 2019, CarbonCapture produces DAC machines that use solid sorbents to efficiently absorb CO2 from the atmosphere, […]

Volvo Cars announced today that it is pulling back on its goal to offer only fully electric vehicles by 2030, adding room for up to 10% of sales to include mild hybrid models and including plug-in hybrids in the rest of its mix, as well as its interim carbon emissions reduction goals, citing headwinds facing […]