Daily Digest for

France-based Air Liquide announced two large-scale electrolyzer projects to produce renewable and low-carbon hydrogen in Europe, in collaboration with TotalEnergies. The first project, ELYgator, is a 200MW electrolyzer in Maasvlakte, Rotterdam, expected to produce up to 23,000 tons of hydrogen annually. The second project involves a 250MW electrolyzer in Zeeland, Netherlands, through a joint venture with TotalEnergies. These projects represent a combined investment of over 1 billion euros and aim to avoid up to 500,000 tonnes of CO2-equivalent emissions per year. Air Liquide will leverage renewable power from offshore wind farms and has received support from the EU’s Innovation Fund and the Dutch IPCEI program.

France-based Chenavari Asset Management announced that its Chenavari Real Estate Decarbonisation Fund (CRED) received the ELTIF 2 approval from the French Financial Markets Authority (AMF). CRED is focused on financing the energy transition of commercial real estate in Europe, including countries like France, Germany, Benelux, Italy, and Spain. The fund aims to reduce the carbon footprint of buildings by financing renovation and energy performance improvement projects. Current senior value-add financing operations in France offer gross yields of approximately 7% with a Loan-to-Value (LTV) ratio of around 55%. The ELTIF 2 approval allows a broader range of European professional investors to access this mortgage debt strategy, aligning with their ESG commitments.

Japan has developed the ‘GX2040 Vision’ aimed at achieving simultaneous energy stability, economic growth, and decarbonization through a strategic investment initiative. The government plans to mobilize approximately 150 trillion yen in public and private investment over the next decade. This revised strategy was necessary due to increasing uncertainties in the investment environment and is intended to increase predictability for future investments toward decarbonization efforts.

US-based ESS Inc. manufactures long-duration iron-flow batteries that can store up to 12 hours of on-demand energy. The company has secured a $50 million package from the Export-Import Bank and is expanding globally, including establishing a manufacturing operation in Australia with AUD 65 million in backing. ESS Inc. aims to produce significant iron flow battery manufacturing capacity in Australia by the end of 2026, and is also considering manufacturing in Europe depending on demand.

The Government of Canada and the Government of Quebec announced $35.3 million to support producers adopting sustainable farming practices under the Sustainable Canadian Agricultural Partnership. The initiative is expected to help up to 1,200 new farm businesses, with a total direct aid reaching $122 million. The assistance has already led to reducing greenhouse gas emissions by almost 150,000 tonnes of CO2 equivalent and pesticide use by more than 200,000 kg.

The UK Government through its Sustainable Blue Economies Programme Blue Social Challenge Fund (BSCF) has awarded a grant of £99,191 (approximately BZD250,000) to MarAlliance for the project “Mangrove Habitat for Juvenile Fish Recruitment: Building Local Knowledge and Capacity.” This initiative aims to enhance the resilience of Small Island Developing States (SIDS) like Belize against climate change impacts through better ocean management and nature-based solutions. High Commissioner Christine Rowlands emphasized the importance of Mangrove ecosystems in mitigating coastal erosion and supporting fisheries livelihoods.

Sweden-based CorPower Ocean has been awarded €17.5 million in funding from the EIC Accelerator to accelerate the commercialization of its wave energy technology. The funding consists of a €2.5 million grant and a €15 million equity investment. This program aims to support innovations in renewable energy resources and their entire value chain, highlighting the importance of wave energy in contributing to a sustainable energy future.

Norway’s parliament (Stortinget) has recently decided to allow development projects in protected waterways, which previously were safeguarded from water power development. This decision has sparked intense debate about the potential loss of valuable natural heritage. Researchers from NTNU and SINTEF are now working to gather new data on the state of these protected waterways and the implications of any developments.

The Government of Japan announced the Cabinet Decision on the Seventh Strategic Energy Plan on February 18, 2025, in response to significant changes in the energy landscape since the last revision in October 2021. The new plan aims for a 73% reduction in greenhouse gases by FY2040 compared to FY2013 levels. This plan supports Japan’s GX2040 Vision and was developed following public consultations and discussions by the Advisory Committee for Natural Resources and Energy.

Sweden has commenced building the world’s first electric highway on European Route E20, which is expected to be operational in 2025. The project aims to enable electric vehicles to charge as they travel, eliminating the need for stationary charging points. This innovation could extend along 1,800 miles, representing a significant milestone towards sustainable, zero-emission mobility.

UK-based KI Hydrogen and Wales & West Utilities are collaborating on a £446k project to scale biomass electrolysis for producing cost-effective green hydrogen. This initiative follows a successful Discovery phase funded by the Ofgem Strategic Innovation Fund. The project’s goal is to demonstrate the potential for green hydrogen to be produced at cost parity with grey hydrogen, significantly aiding the UK’s decarbonisation efforts.

Germany has developed a new methodology by adelphi research and INFRAS AG to estimate government expenditures on climate change adaptation. An evaluation of the 2022 federal budget revealed that between €2.1 billion and €3.4 billion was allocated across 255 budget items for adaptation activities.

In a speech at the Asia Securities Industry & Financial Markets Association (ASIFMA) Annual Conference in Hong Kong, Eddie Yue, Chief Executive of the Hong Kong Monetary Authority presented an overview of climate finance initiatives in Hong Kong. In October 2024, Hong Kong Monetary Authority launched the Sustainable Finance Action Agenda, highlighting its commitment to transition towards sustainable finance. In 2024, Hong Kong issued over USD 40 billion in green and sustainable bonds, capturing 45% of the regional market. Including green and sustainability loans, the total green and sustainable credit issued in Hong Kong exceeded USD 80 billion in 2024.

France has launched an initiative to update the Inventory of Mineral Resources in its subsurface as part of efforts to secure domestic supply of critical metals for the energy and digital transition. The project, entrusted to BRGM, commenced on February 13, 2025, and is funded for €53 million under the France 2030 program, aiming to identify viable mining areas.