climate – Eter Climate

Climate Change

Climate Change July 2022

Javier 5 de May de 2023 Leave a comment

We highlight two relevant news of July 2022 that drew attention especially in Spain.
The first news to highlight is that the European Central Bank estimates in 70,000 million the losses of large banks in a climate crisis, the study was conducted on 41 banks and concluded that it does not have robust frameworks for climate risk stress tests. It was also concluded that two thirds of the banks’ revenues come from greenhouse gas emission-intensive industries.
On the other hand, a news item that attracted a lot of attention was the publication of Mario Picazo, the most remarkable was his prediction, which is that we will reach 50 degrees in Spain by 2030. This implies a huge rise in temperature.

Links:
https://cincodias.elpais.com/cincodias/2022/07/08/companias/1657267449_669792.html#:~:text=El%20Banco%20Central%20Europeo%20(BCE,a%C3%B1os%20debido%20al%20cambio%20clim%C3%A1tico
https://as.com/actualidad/mario-picazo-pronostica-que-sucedera-en-espana-antes-de-2030-n/?outputType=amp

banks climate climatechange climaterisk europe risk

Climate Change

Climate Change June 2022

Javier 5 de May de 2023 Leave a comment

Throughout the month of June 2022 making this month in total we want to highlight 3 relevant news.
On the one hand, True Green Capital Management LLC
(TGC), a private equity fund manager focused on renewable energy infrastructure, announced the final closing of its True green Capital Fund IV, with $660 million in committed capital, exceeding its $500 million target. The firm’s current investment portfolio includes utility-scale and sub-utility solar power plants.
The next news to comment on is that the consortium formed by insurance group Crédit Agricole Assurances and energy investor Energy Infrastructure Partners (EIP) have signed an agreement to acquire 25% of Spanish energy company Repsol‘s renewable energy business, Repsol Renovables, for €905 million. Repsol Renovables currently has a portfolio of more than 1.6 GW of installed renewable capacity in Spain, the United States, Chile and Portugal.
Finally, the @Government of Singapore announced the publication of its Green Bond Framework, taking another step towards its inaugural green bond issuance to help finance its green transition plan and support the development of the country’s sustainable financial market.
The government anticipated that its initial bond offering was to raise approximately SGD35 billion (US$25 billion) through green bond issuances through 2030.

Links:

https://www.esgtoday.com/true-green-capital-management-raises-over-650-million-for-renewable-energy-infrastructure-fund/
https://www.esgtoday.com/credit-agricole-eip-acquire-e900-million-stake-in-repsols-renewables-business/
https://www.esgtoday.com/singapore-prepares-to-kick-off-inaugural-25-billion-green-bond-program/

climate climatechange energy finance greenbonds greendeal insurance investment management privateequity renewableenergy sustainable

Climate Change

Climate Change April 2022

Javier 5 de May de 2023 Leave a comment

In Eter we want to keep analysing the relevant information of 2022 in this case, in April 2022 there are several remarkable events.
As already happened, in March the Canadian government invested 5 billion dollars in a green bond and following its climate change policies it will require from 2024 onwards both banks and insurers to report on climate-related risks. As was already beginning in the European Union and the United States, Canada will also require these reports.
On the other hand, Deloitte is starting to invest in climate change solutions with an initial investment of 1 billion. As JPMorgan Chase & Co. has done throughout last year and the year before and in April 2022 they show that they have invested $285 billion in support of climate, community development and sustainable development projects and initiatives through 2021.
As in previous months Iberdrola signs a €1 billion green loan to finance the development of renewables across Europe and thanks to the new loan brings Iberdrola’s ESG financing to more than €41 billion.
Like other investment funds KKR is adding to renewables by launching a new Asia-focused renewable energy investment platform this month that will initially focus on the development, construction and operation of solar, wind and energy storage projects in Taiwan and Vietnam, with a view to expanding into other Asian markets.
Finally, TPG announced the final close of its climate solutions-focused strategy, TPG Rise Climate, raising $7.3 billion from institutional investors and global corporations with a focus on decarbonization, green industry and agriculture.

Links
https://www.esgtoday.com/canada-introduces-mandatory-climate-disclosures-for-banks-insurance-companies-beginning-2024/
https://www.esgtoday.com/deloitte-invests-1-billion-in-sustainability-climate-practice/
https://www.esgtoday.com/jpmorgan-ramps-sustainable-finance-activity-to-285-billion-in-2021/
https://www.esgtoday.com/iberdrola-signs-e1-billion-green-loan-to-fund-renewables-development/
https://www.esgtoday.com/kkr-launches-renewable-energy-investment-platform-in-asia/
https://www.esgtoday.com/tpg-raises-over-7-billion-for-climate-solutions-fund/

bank climate esg fund investment strategy

Climate Change

Climate Change March 2022

Javier 5 de May de 2023 Leave a comment

From Eter we appreciate several news throughout the month of March 22 making this month a month of much movement with 6 relevant news.
On the one hand, Macquarie Group‘s GIG hires Jonathan Cole, from Iberdrola, to lead a new business called Corio Generation, focus on offshore wind energy, which aimed to have a pipeline of 15 GW of wind energy projects in April 2022. In addition, the group are boosting their business worldwide, aiming to reach 228 GW by 2030, a big investment in the wind energy sector.
On the other hand, Iberdrola successfully closed a green bond issue worth 1 billion euros in renewable offshore wind installations in France and Germany. Together with Iberdrola, Bank of America, Citi, BNP Paribas, HSBC, BBVA, Santander, Sumitomo Mitsui Banking Corporation, Intesa Sanpaolo and ING participated.
The following news, although not from a fund, is from Deloitte and its Survey showing that more and more companies in all sectors are aware of climate change and its impact on investments.
As can be seen and has been seen throughout the months the Canadian government is investing on the issuance of green bonds, being March the month where they are launching a 5,000-million-dollar bond for the financing of green infrastructure and environmental protection projects.
At the end of March, two other important news items were released: on the one hand, the European Union made a proposal to increase the environmental impact categories in the European taxonomy; these changes seek to encourage financing flows and investments in different projects to improve the environment.
Finally, this month, EQT Group announced the pricing of two sustainability-linked bonds for a total of 1.5 billion euros for the companies in its portfolio.