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Blackstone Acquires Electrical Equipment Provider Shermco in $1.6 Billion Deal
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Alternative asset manager Blackstone announced announced an agreement to acquire Shermco, a provider of full lifecycle electrical equipment services, from Gryphon Investors, forming part of a continuing focus on energy transition and electrification opportunities.. The deal values Shermco at approximately $1.6 billion. Founded in 1974, Texas-based Shermco is one of the largest electrical testing organizations accredited…
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FCA Says Sustainability-Linked Loan Market Has Become More Mature, Credible
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The sustainability-linked loan (SLL) market has made progress towards addressing some of its key integrity and credibility issues, according to a new review by UK financial services regulator the Financial Conduct Authority (FCA), marking “important steps in the development of a credible transition finance ecosystem,” according to the regulator. The observations by the FCA follow…
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ECB President Warns Lawmakers Against Watering Down CSRD Sustainability Reporting Requirements
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Initiatives underway to reduce European sustainability reporting and due diligence reporting requirements could limit the European Central Bank’s capability to manage climate risk in the financial system, according to a letter sent by ECB President Christine Lagarde to European Parliament lawmakers. The letter comes as lawmakers prepare to debate the European Commission’s Omnibus I package,…
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California Climate Reporting Law Survives Court Challenge
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California’s new laws laws requiring large companies to disclose their value chain greenhouse gas emissions and report on climate-related risks survived another court challenge, with a U.S. District Judge denying a motion arguing that the laws violate First Amendment free speech rules. The motion marked the latest move by the U.S. Chamber of Commerce, alongside…
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BlackRock Acquires Stake in Eni’s Carbon Capture Platform
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Investment giant BlackRock’s infrastructure investment unit Global Infrastructure Partners (GIP) announced that it has acquired a 49.99% co-control stake in Italian energy company Eni’s Eni’s Carbon Capture, Utilization and Storage (CCUS) business, Eni CCUS Holding. The agreement follows an announcement by Eni in May that it had entered exclusive negotiations with GIP for the transaction following…