GREEN CLIMATE FUND
Can the Labour Party bring back Britain’s green groove?
In the context of Britain's political landscape and its climate ambitions, Keir Starmer, poised to become the next prime minister, has positioned the Labour Party as advocates for transforming the nation into a "clean energy superpower." This aspiration marks a significant departure from Britain's historical role as a major contributor to climate pollution, stemming from its origins in the Industrial Revolution fueled by coal.
Green bonds - Municipal bodies think change, climate change
Brihanmumbai's ₹10,224 crore FY25 climate budget signifies Indian municipal bodies' shift to sustainability. With Solapur, Vadodara, Bhopal, Indore, and Pimpri-Chinchwad leading green initiatives, CEO Masood Mallick highlights Swachh Bharat Mission, regulatory evolution, and public-private partnerships. NGT's environmental compensation emphasizes compliance, increasing the need for green financing.
Carbon removal industry reckons with a new problem — too many startups
Countering climate change requires reducing planet-warming emissions first. However, inadequate sufficient action means the world would have to draw down CO2 in the atmosphere.
Google buys stake in Taiwan solar power firm owned by BlackRock
Investing in New Green Power in Taiwan, I drive sustainable energy solutions for manufacturers, reducing Scope 3 emissions. This aligns with my commitment to carbon-free operations and environmental sustainability, supporting solar capacity growth in the region.
Climate-proofing India's daily bread: The race for resilient wheat
Satveer Singh's family relies on a sack of wheat flour to stave off hunger. They barely manage, aided by government rations, despite irregular supply. Extreme weather has slashed India's wheat production, forcing the government to cut rations and halt exports. Efforts are underway to develop climate-resilient wheat varieties, crucial for food security.
Climate-proofing India's daily bread: The race for resilient wheat
Climate change impacts - including harsher heat, drought and floods - pose a major emerging threat to food security in India and elsewhere, accelerating diverse efforts to introduce crops that are better able to withstand shifting conditions.
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Uzbekistan's ambitious green economy drive: New Bonds, air quality initiatives, & corporate collaborations
In October 2023, Uzbekistan issued its first international sovereign bonds for green financing, raising UZS 4.25 trillion (about USD 336 million). Additionally, the government is launching a nationwide initiative to measure and monitor air quality, driven by President Shavkat Mirziyoyev. This includes installing automatic air monitoring stations, supported by local businesses like Uzum, which is installing monitors at its locations in 30 cities. These efforts aim to provide real-time air quality data to address pollution effectively.
India offers $500 billion investment opportunity in clean energy: Commerce secretary
India's commerce secretary Sunil Barthwal announced at the Indo-Pacific Economic Framework for Prosperity (IPEF) Clean Economy Investor Forum in Singapore that India presents an investment opportunity exceeding $500 billion in the clean energy sector, including renewables, green hydrogen, and electric vehicles by 2030. The forum, consisting of 14 countries like India, Australia, and the US, has identified investment prospects totaling $23 billion for sustainable infrastructure projects in the Indo-Pacific region.
India offers above $500 bln investment opportunity in clean energy value chain
India offers a $500 billion investment opportunity in clean energy by 2030 at the IPEF Clean Economy Investor Forum in Singapore, resulting in $23 billion investment opportunities for sustainable infrastructure projects in the Indo-Pacific.
India offers USD 500 billion investment opportunities in clean energy, other sectors by 2030
New Delhi India offers huge investment opportunities worth over USD 500 billion, particularly in clean energy value chain including renewables, green hydrogen and EV, by 2030, the commerce ministry said on Thursday. This was stated by Commerce Secretary Sunil Barthwal, who is in Singapore for the two-day meet of the Indo-Pacific Economic Framework for Prosperity (IPEF) Clean Economy Investor Forum.
Dutch may pay as much as €3 billion to clean up Tata Steel plant
The Netherlands is considering contributing up to €3 billion for the eco-friendly renovation of Tata Steel Ltd.'s IJmuiden factory, addressing severe health and environmental issues. The Dutch parliament approved subsidies for the renovation. Tata Steel, a major employer, has faced criticism for emissions linked to health problems. Discussions with Tata Steel are ongoing, with the subsidy amount yet to be confirmed.
Continuum energy to raise $650 m via bonds
Continuum Green Energy, a renewable energy generator, plans to raise $650 million in bonds to refinance existing debt, with Deutsche Bank, HSBC, JPMorgan, and Standard Chartered Bank as arrangers.
Climate tech has a promising future in India: Hisham Mundol, Chief Advisor, Environmental Defense Fund, India
Environmental Defense Fund (EDF) wants India to become the first major economy to industrialise without carbonising, says Hisham Mundol, Chief Advisor, Environmental Defense Fund, India.
Climate tech startup Cloover raises $114 million in seed funding
German startup Cloover secured $114 million funding led by Lowercarbon Capital to empower smaller installers in offering comprehensive renewable energy solutions. The funding will support expansion into new markets and technology enhancements.
Investors taking a shine to Indian climate tech space
Over the last 12-15 months, investors such as Blume Ventures, Leo Capital and new entrants like Synapses have been betting on climate tech startups. Even global investors are looking to invest in climate tech companies.
Ride-hailing startup BluSmart to raise Rs 200 crore in new funding
BluSmart has raised nearly $24 million or Rs 200 crore in its latest funding round. In January this year, BluSmart had raised $25 million, while in 2023 it conducted funding rounds worth $66 million.
MG Motor India signs pact with Vertelo to deliver 3,000 EVs
MG Motor India has partnered with Vertelo to supply 3,000 EVs, aiming for fleet electrification and robust charging infrastructure. The collaboration aligns with a vision for a green and sustainable future, accelerating the shift towards sustainable transportation. MG's EV lineup, including the 'Comet' and 'ZS EV', complements Vertelo's electrification solutions.
Continuum Green Energy eyes funds from two private equity investors at $1-billion valuation
Continuum Green Energy (India) is preparing to raise funds from two global private equity investors, with a valuation estimated at $1 billion, in anticipation of an upcoming initial public offering (IPO). Founded by Arvind Bansal and Vikash Saraf, the renewable energy company has signed a term sheet with Global Environment Fund and UK-based Just Climate to secure $150 million in funding. This investment will establish a valuation benchmark ahead of the IPO.
Climate change hardly a burning issue for Indian voters
Unprecedented climate change disasters are impacting India, but political parties and voters are largely overlooking the issue during the elections. Only regional party DMK has concrete climate change plans. In contrast, Europe prioritizes climate action in elections. Indian voters are more focused on traditional issues like unemployment and inflation.
Hedge funds' options bets hand green investors a path to predicting returns
A key finding of the study is that the buildup of hedge fund managers' put and call options on a given green equity can be used to "predict the stock's future returns," George Aragon, a professor at Arizona State University and a co-author of the paper, said in an interview.
ADB open to funding space sector in India: VP Bhargav Dasgupta
The Asian Development Bank is open to funding the space sector in India in addition to focusing on climate finance to mitigate the associated risks, said its Vice President Bhargav Dasgupta on Friday. ADB has done some projects in satellite in the Asia Pacific region, but has not provided any assistance in the Indian space sector.
PSBs plan to set up 'green cells' for climate funding
State-run banks to introduce 'green cells' for ESG risk assessment and green fund management under EASE 7.0. RBI emphasizes 2.5% GDP green financing. SBI chairman pushes for incentives and CRR relaxation in regulatory policies.
Fight climate change with fiscal discipline
The transition to clean energy requires enormous public investment in electricity generation and distribution, in addition to the far larger expense of mitigating the damage caused by rising temperatures.
Macquarie to invest $1.5 billion in EV sector through Vertelo
Australia's Macquarie Asset Management plans to invest $1.5 billion in India's electric vehicle sector through its new platform Vertelo, offering fleet electrification solutions. The platform, backed by the Green Climate Fund, aims to reduce greenhouse gas emissions by 9.5 metric tonnes. Vertelo has already secured agreements with companies like Chalo Mobility, JBM, Eka Mobility, and Tata Motors to supply electric vehicles and develop charging infrastructure. Macquarie Group sees this investment as a step towards India's energy independence and combating climate change.
Macquarie's $1.5 bn India EV platform to focus on fleet electrification
Australia's Macquarie Group has launched an EV financing platform called Vertelo for India, focusing 95% of its $1.5 billion investment on electrifying commercial vehicle fleets. The platform will offer financing, fleet management, and charging infrastructure solutions. The remaining 5% will go towards charging infrastructure and other requirements.
How to see green as greenbacks
RBI addresses monetary policy risks from climate change, proposing climate event risk modeling and discussions on mitigating climate risk through actionable items, self-imposed climate-mitigation targets, financing channel, and green deposits in Draft Disclosure Framework on Climate-Related Financial Risks 2024.
A $43 billion fund with its high-stakes bets is gambling with Europe’s climate goal
The European Union's Innovation Fund, a 40 billion euros ($43 billion) investment initiative, has experiened early setbacks. These challenges raise concerns about achieving the EU's 2040 climate targets. Despite setbacks, the fund continues to allocate funding to innovative clean technologies, prioritizing investments with potential despite inherent risks.
Make room for more Idris Elbas
Trillions in investment are needed for such projects, but access to funds and green tech remains a challenge, especially for developing nations. Risks inflate capital costs, deterring private investment where it's most needed.
Sidbi gets $24.5 million from Green Climate Fund for its Avaana Sustainability Fund
The primary aim of the ASF project is to invest in early-stage companies harnessing technology-led innovation to spur climate solutions and sustainability in India. Anticipated outcomes include significant contributions to climate change mitigation, adaptation, and the enhancement of resilience in vulnerable sectors of the Indian economy, Sidbi said in a note.
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