Climate Change September 2022
Back from the summer, the month of September 2022 returned with 7 news items to highlight.
On the one hand, Santander bank is committed to becoming a world leader in green finance by mobilizing 120 billion euros by 2025 and 220 billion euros by 2030. It is also promoting different initiatives as Green Investment, such as a carbon footprint calculator, an energy simulator to improve the efficiency of homes, a collaboration agreement to provide all its car leasing customers with cars and the recycling of its debit and credit cards in multiple other initiatives.
In southern Spain, the Malaga municipality of Ayuntamiento de Benalmadena launched a campaign to get its citizens to participate in climate change mitigation actions, raising awareness of this phenomenon. The same has happened in La Rioja, which has been working on the new climate change law that affects this region.
Carbon Collective, recently announced the launch of this exchange-traded fund, which benefits 200 companies in the sectors of clean energy, electric transportation, efficient buildings, circular economy, sustainable food,and industrial electrification.
This month the European Union once again highlighted the importance of climate change on the planet because it is a reality that is occurring, causing that in the future there may be conflicts even over water. This issue is not only being addressed by the European Union, but also by the USA and Canada.
Finally, based on data from the Climate Bonds Initiative (CBI), green bond emissions worldwide will reach 271,622 million dollars in 2022, but the important thing to note above all is that 8% of GDP will be needed to decarbonize the entire world economy, which means that companies and the public sector will have to invest a large amount of capital.
Links:
https://cronicaglobal.elespanol.com/global-content/banco-santander-acompana-clientes-transicion-economia-verde_722372_102.html
https://www.malagahoy.es/provincia/Benalmadena-participacion-plan-cambio-climatico_0_1724229477.html
https://aldianews.com/es/leadership/organizaciones/contra-el-cambio-climatico
https://www.ecoportal.net/paises/defensa-comun-europea/
https://www.abc.es/antropia/abci-negocio-cambio-climatico-20220915201303_noticia.html
https://www.europapress.es/epagro/noticia-andreu-afirma-ley-cambio-climatico-situa-rioja-vanguardia-materia-legislacion-medioambiental-20220907201154.html
Climate Change June 2022
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 Change April 2022
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/
Climate Change March 2022
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.
links
https://www.esgtoday.com/canada-issues-inaugural-5-billion-green-bond/
Climate Change February 2022
Continuing with our analysis, in February 2022, 3 relevant events occurred regarding climate change. At the beginning of the month, the Bank of England launched a second round of climate stress tests for both insurers and large UK banks. This second round seeks to understand the challenges posed by climate risks to banks’ business models and to gauge their possible responses.
As a second piece of news, the Mizuho financial group launched a $500 million green bond in February to finance any green project in line with its sustainable financing plan.
Finally, and as a third remarkable news, the major energy company Iberdrola announced a 10 billion investment plan for 3 offshore parks of 2,800 MW in Massachusetts, seeking to double its renewable energy capacity in the U.S. and reduce CO2 emissions. All this launch is aligned with Iberdrola’s 2020 plan to invest 75 billion.
Iberdrola plan news:
https://www.esgtoday.com/iberdrola-e75-billion-capital-plan-includes-massive-investments-in-renewables/https://lnkd.in/dc5gNBm
On the one hand, the Swiss federal government finalizes the first inaugural issuance of $776 million in green bonds, these bonds are part of the 2050 zero emissions target and have been mainly split into two tranches of CHF 4.3 million in transportation and CHF 900 million in agriculture.
It was also announced this October that impact investment assets under management worldwide have reached $1.164 trillion, according to the estimate of a new report by the The Global Impact Investing Network Network (GIIN), surpassing the $1 trillion mark for the first time.
In addition, Macquarie Group Asset Management is funding Italian operator @Green Bidco Spa with $100 million through its Green Investment Group (GIG) investment platform. This acquisition reinforces Macquarie Asset Management’s commitment to manage its portfolio in line with the net zero target by 2040.
In this line Macquaire has acquired 140GWh through its investment in r.e. This moves positions it strongly in the European and global market. In the biofuel and Biomass business.
As last news to highlight, Ørsted and WWF join forces to ensure Biodiversity in the marine environments where Ørsted is developing its offshore projects.
Link
https://www.esgtoday.com/switzerland-issues-inaugural-766-million-green-bond/
https://www.esgtoday.com/impact-investing-passes-1-trillion-for-first-time-report/