Australian carbon farming start-up raises A$105 mln in funding round, gets further CEFC backing
The Australian government’s Clean Energy Finance Corporation (CEFC) has invested A$9 million ($6.3 mln) in local biotechnology company Loam Bio as part of the start-up’s successful A$105 mln Series B funding round to enhance CO2 removal with its microbial technology for cropping systems, the company announced on Tuesday.
Read MoreEmissions from Australia’s NT shale gas can be largely offset domestically in most cases, report says
GHG emissions from future onshore shale gas production in Australia’s Northern Territory (NT) could largely be offset with the use of carbon credits within Australia and use of domestic mitigation technologies, in most cases, although a high production scenario would require the use of international offsets as well, according to a government scientific agency.
Read MoreEthiopia signs $40 mln carbon deal with World Bank for sustainable forestry management
Ethiopia has signed a $40 million agreement with the World Bank to access funds from a sustainable forestry programme to reduce emissions by tackling deforestation and land degradation, the multilateral development bank announced.
Read MoreCorporate sustainability group releases guide for hydrogen to align with net zero
A CEO-led group focussed on sustainability released a set of guidelines on Thursday to help companies include alignment with 1.5C criteria to their investment decisions for hydrogen projects.
Read MoreGreen group lodges case against Shell directors for failures on climate
Environmental activist group ClientEarth has filed what it called a world-first lawsuit against oil major Shell’s board of directors for failing to manage risks to the company from climate change, the London-headquartered group announced on Thursday.
Read MoreEIB backs green hydrogen for India in €1 bln agreement
The European Investment Bank (EIB) will provide indicative funding of €1 billion to promote the green hydrogen sector in India, the EU bank and a local industry group, the India Hydrogen Alliance (IH2A), have jointly announced.
Read MoreSingapore to list eligible carbon credits for emitters covered by carbon tax in “standard setting” move
Singapore will publish later this year a ‘whitelist’ of international carbon credits that will be eligible for companies to use to partially offset their liable emissions under the country’s carbon tax scheme, the Minister for Sustainability and the Environment, Grace Fu, announced in parliament.
Read MoreCompanies more likely to prepare climate transition plans but full disclosure lags -report
Less than 1% of nearly 19,000 companies involved in a survey had fully disclosed information on all indicators that benchmark their progress on meeting climate goals, according to a report from non-profit climate disclosure group CDP, on Wednesday.
Read MorePower sector CO2 emissions hit new high in 2022 but possible tipping point ahead due to renewables growth, IEA says
Global CO2 emissions from power generation reached an all-time high in 2022, mainly on the back of growth in fossil fuel-fired generation in the Asia-Pacific and worldwide power demand edging up, but aggressive renewables capacity build-out means that electricity emissions will stabilise at around the same level over the next three years, the International Energy Agency (IEA) reported on Wednesday.
Read MoreANALYSIS: Fast-growing SLL market sees calls for greater transparency amid greenwashing concerns
The sustainability-linked loan (SLL) market has emerged rapidly on the green scene in recent years as an increasing number of banks and corporations use such loans as part of their decarbonisation strategies, prompting calls to enhance transparency and industry efforts to counter accusations of greenwashing.
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