The Bezos Earth Fund has launched the AI for Climate and Nature Grand Challenge, committing up to $100 million to foster AI-driven solutions that tackle climate change and nature loss. Established in 2020 with a $10 billion pledge from Amazon founder Jeff Bezos, the fund aims to support a wide range of environmental efforts and…

Germany-based power producer RWE has successfully completed its first U.S. green bond issuance, raising $2 billion to finance renewable energy projects. The issuance was divided into two tranches: $1 billion for a 10-year term and $1 billion for a 30-year term, marking RWE's inaugural green bond offering outside of Europe. According to RWE’s Green Financing…

EdgeConneX, a global data center provider, has successfully secured $1.9 billion in sustainability-linked financing to support its expansion across the EMEA region, with interest rates tied to its environmental sustainability achievements. This marks a significant shift from project-based funding to a more comprehensive structured corporate debt package following its initial $2.9 billion sustainability-linked financing in…

The European Council has formally adopted the revised Energy Performance of Buildings Directive (EPBD), setting forth stringent new regulations to reduce energy use and emissions across EU buildings. Mandating that all new buildings achieve zero emissions by 2030 and phasing out fossil fuel use in heating systems by 2040, the directive aligns with the EU's…

The European Parliament has voted to adopt a new law establishing a certification system for carbon removals, aiming to monitor, quantify, and verify the effectiveness of such initiatives while addressing the issue of greenwashing. The law, passed by a significant majority, is a key component of the EU's broader strategy under the European Green Deal…

Toyota Ventures, the venture capital arm of automotive giant Toyota, has announced the launch of the Toyota Ventures Climate Fund II (TVCF II), aimed at advancing startups that focus on climate and environmental sustainability solutions. This new fund follows the successful inaugural Toyota Ventures Climate Fund launched in 2021, which saw investments in 18 companies…

Public companies globally are making strides in disclosing their greenhouse gas emissions, with approximately 60% reporting direct Scope 1 and 2 emissions and over 40% disclosing some Scope 3 emissions, reveals the latest MSCI Net-Zero Tracker. This report assesses the climate progress of companies in the MSCI All Country World Investable Market Index using MSCI's…

The Science Based Targets initiative (SBTi) has announced an update to its Corporate Net-Zero Standard, expanding the use of environmental attribute certificates, such as emissions reduction credits, to address Scope 3 emissions. These indirect emissions, often representing over 90% of a company's total emissions and arising from activities like supply chain operations and product use,…

In an ambitious move to transform urban mobility across emerging markets, Drive Electric announces the Leapfrogging Partnership, energized by a $100 million investment from the IKEA Foundation. This groundbreaking initiative aims to catalyze the transition to 100% zero-emission vehicles, addressing the disproportionate distribution of clean transportation benefits. With the globe's vehicle demand surge projected in…

A new report by Boston University and the African Economic Research Consortium highlights China's pivotal role in Africa’s transition to renewable energy, contrasting its commitments to green energy with actual investments favoring fossil fuels. Despite being Africa's largest trading partner and making strides in infrastructure development, only 2% of Chinese loans to Africa's energy sector…

Nestlé has joined forces with The Global FoodBanking Network (GFN) to combat hunger worldwide through a Memorandum of Understanding (MOU). This agreement signifies a deepened commitment between the two organizations to enhance food accessibility and support communities in need. By leveraging Nestlé's extensive global operations and GFN's network of community-rooted food banks, this partnership aims…

In a stark revelation, the UN Environment Programme (UNEP) reports that over 1 billion meals are discarded daily while 783 million individuals face hunger globally, spotlighting the pressing issue of food waste amidst rising food insecurity. The UNEP Food Waste Index Report 2024, crafted with WRAP, sheds light on the scale of food waste across…