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European Commission Proposes Target to Reduce Emissions 90% by 2040
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The European Commission announced today a new proposed climate target, aiming to reduce net greenhouse gas (GHG) emissions across the EU by 90% by 2040, compared to 1990 levels. The new target introduces several key proposed changes from the EU’s current goals, including the ability to utilize international carbon credits to achieve a portion of…
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Tikehau Raises Over €1 Billion for Egis to Decarbonize Transport, Cities, Energy
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Paris-based alternative asset management Tikehau Capital announced the launch of a new continuation fund for its climate-focused architectural, consulting, construction engineering, operations and mobility services portfolio company Egis, raising more than €1 billion (USD$1.2 billion) to support the company’s next phase of growth. Based in France, Egis designs, develops and operates smart infrastructure and buildings…
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Sumitomo to Facilitate Over $10 Billion in Clean Energy Investments in UK
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The UK government announced that it has reached a new partnership deal with Japan’s Sumitomo Corporation aimed at channeling major investments in clean energy and infrastructure over the next decade. Under the new partnership, Sumitomo said that it will aim to facilitate £7.5 billion (USD$10.2 billion) of investment into key UK infrastructure and clean energy…
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Microsoft Signs Deal for 3 Million Tons of CO2 Removal Generated Through New Waste-to-Energy Carbon Capture Project
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Microsoft announced a new long-term offtake agreement with energy infrastructure investment manager Copenhagen Infrastructure Partners (CIP) and Denmark-based waste-to-energy (WtE) company Vestforbrænding, for the delivery of nearly 3 million tons of carbon removal generated through a new large-scale carbon capture and storage project at a WtE facility in the greater Copenhagen region. Under the new…
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EU Lawmakers Reject EUDR’s Country Risk System in New Setback to Deforestation Regulation
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Lawmakers in the European Parliament voted on Wednesday to reject a benchmarking system categorizing countries by their level of deforestation risk, marking a potential new setback for the new EU Deforestation Regulation (EUDR), aimed at ensuring that products imported to or exported from EU markets no longer contribute to deforestation and forest degradation globally, including…