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EU Lawmakers Adopt New Rules Requiring Fashion Brands to Pay to Collect and Recycle Clothes
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The European Parliament announced the adoption by lawmakers of a series of new rules aimed at preventing and reducing textile and food waste in the EU, including measures requiring textile producers to cover the cost of collecting, sorting and recycling their products. The announcement marks the last major legislative step in the revision of the…
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Hong Kong Proposes Expanding Sustainable Finance Taxonomy to Transition Activities
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The Hong Kong Monetary Authority (HKMA), Hong Kong’s central banking institution, announced the release of a draft update of the Hong Kong Taxonomy for Sustainable Finance – its classification system for defining and classifying environmentally sustainable economic activities in order to mobilize capital to these areas – with proposals to expand the Taxonomy to include…
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Nitricity Raises $50 Million to Scale Sustainable Low Carbon Fertilizer Technology
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Cleantech startup Nitricity announced today that it has raised $50 million in a Series B funding round, with proceeds aimed at scaling up its technology for the production of organic, low-emission nitrogen fertilizer. Production and use of nitrogen fertilizers account for approximately 5% of global greenhouse gas (GHG) emissions, and also contributed to waterway toxicity…
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Denmark to Issue First-Ever Sovereign Green Bond Under EuGB “Gold Standard”
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The Kingdom of Denmark announced plans to raise up to DKK 10 billion (USD$1.6 billion) through a new green bond offering, expected to be the first ever sovereign issuance under the new European Green Bond (EuGB) standard. Adopted by the EU in November 2023, and taking effect in December 2024, the EuGB regulation was launched by the…
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IFC Investment Pushes responsAbility Asia Climate Tech Strategy Past $400 Million
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M&G’s impact investing unit responsAbility Investments announced today that it has raised over $414 million in commitments for its Asia Climate Strategy, aimed at actively contributing to CO2 reduction in Asia through targeted investments in low-emission technologies. The latest closing for the fund included a $50 million investment from World Bank Group member the International…