Beko, the global home appliance company, has signed a €100m sustainability-linked loan with IFC, a member of the World Bank Group. Marking Beko's first sustainability-linked loan, the agreement reinforces the company's commitment to integrating sustainability across its value chain and driving innovation in energy-efficient technologies.
Tag: investment
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Bank of America commits $10m to those impacted by LA wildfires
As Los Angeles continues its efforts to rebuild, Bank of America is announcing $10m in zero-interest loans to Community Development Financial Institutions (CDFI) for ongoing housing, non profit facilities and small business assistance. The loans will be managed through three west coast CDFIs involved in the region’s disaster recovery efforts following the devastating Eaton and Palisades fires.
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Stiell: climate finance is not charity – it’s smart economics
UN Climate Change Executive Secretary Simon Stiell said at COP30 in Belém, Brazil, that climate action, underpinned by climate finance, is the growth story of the 21st century. “As you prepare for your next phase of Article 9.5 work, I urge you to make the outcomes as clear and actionable as possible – so that they offer real forward visibility to developing countries, and demonstrate tangible progress on the delivery of finance,” he said to his audience.
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SSE unveils £33bn investment plan to unlock green energy
SSE plc has announced a £33bn fully-funded five-year investment programme, to transform the UK’s electricity infrastructure and deliver long-term benefits for society. The “Transformation for Growth” plan will see a major ramp-up of SSE’s capital investment over the next five years, with 80% directed towards regulated electricity networks and the remainder into renewables and flexible generation technologies.
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Governor Newsom: subnational climate action is a defining opportunity
Governor Newsom said California is leading by example, proving that climate action and economic growth go hand in hand. As California continues and accelerates its climate action, the Governor urged global investors to embrace the technologies and infrastructure driving the clean energy future.
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Progress towards the Paris Agreement goals is alarmingly inadequate
Although more than three-quarters of indicators are heading in the right direction, progress towards the Paris Agreement temperature goal is alarmingly inadequate, exposing communities, economies and ecosystems to unacceptable risks. The State of Climate Action 2025 report says that global efforts across 29 indicators are well off track, such that at least a twofold (and for most, more than a fourfold) acceleration will be required this decade to keep the 1.5°C limit within reach.
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€545m package to accelerate Africa’s clean energy transition
European Commission President, Ursula von der Leyen, has unveiled today a €545m Team Europe package to accelerate Africa's clean energy transition. This announcement is an important milestone in the ‘Scaling Up Renewables in Africa' campaign, co-hosted with South African President Cyril Ramaphosa. This campaign raises global awareness and mobilises public and private investments for clean energy generation and access across Africa.
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President Xi Jinping announces China’s climate commitments
China will, by 2035, reduce economy-wide net greenhouse gas emissions by 7% to 10% from peak levels, said President Xi Jinping of China at the United Nations Climate Summit on 24 September. China will increase the share of non-fossil fuels used in its energy supply to over 30%; expand the installed capacity of wind and solar power to over six times the 2020 levels; make electric vehicles mainstream; expand the National Carbon Emissions Trading Market to cover major high-emission sectors; and establish a climate adaptive society.
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Taking Stock 2025: US GHGs unsurprisingly higher
“The first seven months of the second Trump administration and 119th Congress have seen the most abrupt shift in energy and climate policy in recent memory,” says Rhodium Group’s annual independent outlook of the evolution of the US energy system. “After the Biden administration adopted meaningful policies to drive decarbonisation, Congress and the White House are now enacting a policy regime that is openly hostile to wind, solar, and electric vehicles and seeks to promote increased fossil fuel production and use.”
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First CO2 storage by Northern Lights JV achieved
The first CO2 volumes have now been transported by the Northern Lights project through the 100km pipeline and injected into the Aurora reservoir 2,600m below the seabed of the Norwegian North Sea. Northern Lights will transport and store CO2 from Norway during the remainder of 2025 with CO2 volumes from Denmark and the Netherlands expected to be added in 2026.
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First wind turbine installed in Poland by Baltic Power
Northland Power, based in Canada, has announced the successful installation of the first turbine at the Baltic Power project which is a 1.1GW offshore wind farm in the Baltic Sea. Baltic Power is a joint venture between Northland and ORLEN Group and is expected to be Poland’s first operating offshore wind farm.
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ShareAction: real estate investment managers fall short on climate
Research by ShareAction, which campaigns for responsible investment, shows several of the world’s largest real estate investment managers are failing to take even basic steps to tackle climate change, leaving investors exposed to financial risks and emissions unchecked in a key sector for the transition to net zero.
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Chestnut Carbon: financing for US afforestation in the voluntary carbon market
Chestnut Carbon, a nature-based carbon removal developer, has announced the successful closing of a landmark non-recourse project finance credit facility of up to $210m – a first-of-its-kind bank financing for a US voluntary carbon removal afforestation project.
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$2.5m for blue carbon project in Sierra Leone
FSD Africa Investments (FSDAi) is investing $2.5m in West Africa Blue’s blue carbon project in Sierra Leone’s Sherbro River Estuary. FSDAi’s investment will contribute to the conservation and restoration of approximately 94,000 hectares of mangrove ecosystems across 11 chiefdoms.
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India says it’s leading – not following – the energy transition
Shri Pralhad Joshi, Union Minister, New and Renewable Energy, said that this is not just an energy transition for India; it’s a global reset. Speaking at the inaugural Indian Venture and Alternate Capital Association’s Renewable Energy Summit, he said that India is leading the way and has already surpassed 44% non-fossil fuel capacity, achieving its 2030 target five years ahead of schedule.