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Climate Change
Climate Change November 2022
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November was a big month for the climate change sector and we at Eter would like to highlight 6 news items that stand out as 2022 draws to a close.

The first is that the International Sustainability Standards Board (ISSB) will require companies to include climate scenario analyses in their reports. These scenarios are also closely related to the climate standards and laws that are being made and that have been discussed in previous months’ posts. EFRAG, for its part, approved the final version of the European Sustainability Reporting Standards (ESRS), which set out the rules and requirements for companies to report on sustainability-related impacts, opportunities and risks.
Also linked to the previous news is another piece of news related to the European Union, which seeks to reach 100 GW of renewable energy, doubling the installed capacity by 2022. The last announcement made by the European Union was that it will invest 300,000 million euros to reduce dependence on Russian fuel.

Recovering one of the previous posts and already with the closing of the fund, Energy Impact Partners (EIP), announced in October the closing of its Deep Decarbonization Frontier Fund, focused on climate technology, reaching commitments of US$485 million and surpassing the fund’s initial target of US$350 million.
The International Partners Group (IPG), announced the launch of a Partnership for a @Just Energy Transition, aimed at accelerating and supporting the Indonesian energy sector’s shift to clean energy sources. The agreement includes mobilizing $20 billion over three to five years, half of it in public sector contributions, with the remainder to be provided by the Glasgow Finance Alliance Task Force for Sector Improvement in Indonesia. This means many changes in the Indonesian energy sector, such as limiting emissions that year to 290 megatonnes.
Lastly, Iberdrola closed this month with the issuance of a 1,500 million bond, continuing with the green bond plan it had maintained throughout the year.

Links:
https://www.esgtoday.com/iberdrola-issues-e1-5-billion-green-bond/
https://www.esgtoday.com/us-japan-led-coalition-banks-to-mobilize-20-billion-to-support-indonesia-clean-energy-transition/
https://www.esgtoday.com/energy-impact-partners-raises-485-million-for-climate-tech-fund/
https://www.esgtoday.com/efrag-approves-european-sustainability-reporting-standards/
https://www.esgtoday.com/eu-to-double-renewable-energy-deployment-to-100-gw-next-year-von-der-leyen/
https://www.esgtoday.com/issb-to-require-climate-related-scenario-analysis-under-ifrs-climate-disclosure-standard/

Climate Change
Climate Change June 2022
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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
Climate Change May 2022
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In the analysis of May 22, Eter analyse the sector that will affect us all at professional, personal and business level.
During the month of May 22 the European Union formulated two major advances in its climate change regulation, on the one hand, the ~European Commission formulated stricter rules for the future European Green Bond Standard to improve transparency and reduce greenwashing, aligning with the European taxonomy. On the other hand, EFRAG announced the initial draft for the sustainability reporting standard. This standard affects more than 50,000 companies compared to the 12,000 affected by the current standard. This report covers a broad set of ESG-related topics ranging from climate change to workers in the value chain and corporate conduct governance.
Alongside these EU standards comes other government-related news as well, Germany, the Netherlands, Belgium and Denmark sign a €135 billion offshore wind pact to create the “green power plant of Europe,” seeking to create wind farms with an output of 150 GW by 2050. The pact will also contribute to large-scale production of green hydrogen, setting combined targets of 20 GW of production capacity by 2030.
May also sees American Express unveil its first $1 billion sustainability bond issue. This bond is part of a $3.5 billion bond series. This green bond can cover multiple projects such as Circular Economy, Green Buildings and Energy Efficiency and Renewable Energy.
As this legislation is advancing Deutsche Bank introduces mandatory ESG ratings for suppliers, also in case of having a contract with the bank over 500,000 euros will require an ESG rating to see if it complies with the bank’s own regulations, this is because the bank itself wants to participate in promoting a green economy.
Finally, in remarkable news, the Bank of England announced the results of its biannual climate change test exercise and concluded that UK banks and insurers are likely to be able to absorb the physical and transitional costs of climate change, but will face significant financial difficulties, particularly if measures to address climate change are insufficient or delayed.

Links:
https://www.esgtoday.com/efrag-releases-proposed-european-sustainability-reporting-standards/
https://www.esgtoday.com/american-express-files-for-inaugural-1-billion-sustainability-bond-issuance/
https://www.esgtoday.com/eu-lawmakers-move-to-toughen-expand-green-bond-rules/
https://www.esgtoday.com/germany-netherlands-belgium-and-denmark-sign-major-offshore-wind-pact-to-deliver-the-green-power-plant-of-europe/
https://www.esgtoday.com/deutsche-bank-introduces-mandatory-esg-ratings-for-suppliers/
https://www.esgtoday.com/boe-climate-stress-test-finds-climate-risk-manageable-for-banks-but-highlights-high-cost-of-inaction/

© Eter Climate 2022