Global Climate News

Robeco, a Dutch asset manager, has expanded its engagement in climate and nature, focusing on natural resource management, deforestation (expanding from palm oil to soy, beef, leather, paper and pulp), biodiversity, and human capital management. They are also initiating new themes on transition minerals (supply chains in electric vehicle batteries) and protecting shareholder rights from weakening regulations.

The European Energy Exchange (EEX) has introduced new \"Mon-Sun Peak Power Futures\" contracts for the Spanish market and short-term futures for the Greek power market, starting February 24, 2025. These aim to facilitate renewables integration by addressing the impact of solar power on electricity spot prices. EEX also extended expiries to ten calendar years for French and Dutch power markets to support renewables integration and provide PPA hedging opportunities.

Global leader in floating energy infrastructure, Höegh Evi, saw a 50% indirect ownership stake sale from funds managed by Morgan Stanley Infrastructure Partners to funds managed by Igneo Infrastructure Partners. Aequitas Limited retained its 50% shareholding.

Danish companies are increasingly integrating ESG metrics into their financing, with sustainability-linked loans (SLLs) becoming a key instrument. The Nordic market for SLLs grew to approximately EUR 11 billion in 2021. Companies like A.P. Møller – Maersk, Pandora, and Coop Danmark have adopted SLLs, linking borrowing costs to sustainability targets. Nordea expects Danish companies to have sustainability-linked loan agreements worth around DKK 200 billion within three years.

Germany's Gesundheitseinrichtungen des Bezirks Oberfranken awarded contracts for electricity and natural gas supply to Stadtwerke Kulmbach for 2025. The contracts, LOT-0001 for electricity (approx. 3.89 million kWh) and LOT-0002 for natural gas (approx. 23.5 million kWh), were awarded through a negotiated procedure without prior call for competition.

Finland-based Tampereen Seudun Keskuspuhdistamo Oy awarded a contract worth €800,000 to Suomalainen Energiaosuuskunta for the supply of light fuel oil. The contract was awarded on January 8, 2025.

Egypt has allocated $25 million for drilling three developmental wells in East Abu Sinnan in FY2025/2026. ADNOC Gas awarded a $1.2 billion contract to a consortium of Petrojet and Engineering for Petroleum Industries & Operations. The Suez Canal Bank participated in providing $108 million in financing to MAF for agricultural product manufacturing. A government official reported $1 billion in fuel consumption savings for electricity generation last year.

Egypt's El Alamein Petroleum Company allocated $25 million to drill three development wells in East Abu Sinnan in FY2026/2025. The company also plans to use solar energy to power one well, reducing solar consumption and carbon emissions.

UAE-based ADNOC Gas awarded three contracts worth $2.1 billion for the Ruwais Liquefied Natural Gas project. The largest contract, exceeding $1.24 billion, went to a consortium of Engineering for Petroleum Industries and Operations and Petrojet. China Petroleum Pipeline Engineering received a contract worth approximately $514 million, and Petrofac UAE secured a contract valued at $335 million. The project aims to double LNG production capacity to over 15 million tons annually and will be one of the lowest carbon-intensity LNG plants globally.

Swedish real estate company Wallenstam, owning 66 wind turbines, is self-sufficient in renewable energy. They prioritize five UN Sustainable Development Goals, focusing on sustainable cities and communities. A stakeholder analysis showed surprisingly aligned priorities across groups, with social issues ranking highly. Individual electricity and water metering reduced consumption by 10-25%.

China-based Hanyesteel, a steel plate factory, highlights its commitment to environmental sustainability and responsible production practices in its steel production, aiming to reduce the environmental impact.

US-based Climate Access Fund (CAF) launched the Solar4Us @ Henderson-Hopkins project, installing a 808-kilowatt solar array on a Baltimore school. This community solar project will provide discounted electricity to approximately 150 low-to-moderate income households, saving subscribers an estimated $1.1 million over the panels’ lifetime. The project also includes job training and educational opportunities.

Egypt: The Suez Canal Bank participated in a $108 million financing for MAFI to build a fruit and vegetable processing plant in Sadat City. The project aims to produce concentrates and frozen fruits and vegetables, with 100% of the products intended for export. This supports Egypt’s economic growth and sustainable development goals.

\"Six of the largest US banks (JP Morgan, Morgan Stanley, Bank of America, Citigroup, Wells Fargo, and Goldman Sachs) have withdrawn from the UN-backed Net Zero Banking Alliance (NZBA). The withdrawal, following years of speculation, may be linked to the incoming Trump administration's anti-ESG stance. These banks cited a focus on the NZBA's partner organization, GFANZ, and maintained their individual net-zero commitments by 2050. Three smaller US banks remain in the NZBA.\"

US-based Algaeo, founded by Nick Sokol, has developed a technology to produce organic fertilizers from microalgae. This reduces reliance on petroleum-based synthetic fertilizers, decreasing air pollution and greenhouse gas emissions. Algaeo is part of the Innovation Crossroads program at Oak Ridge National Laboratory, utilizing ORNL resources to optimize its fertilizer production.

GIZ is advising Pakistan on a more efficient, transparent and citizen-oriented approach to governance. This also involves shaping the way that refugees and host communities live together. GIZ’s work in the country focuses on sustainable economic development, good governance and an efficient energy supply.

Wales-based green energy firm Haush has opened a new green hydrogen production facility in Pembroke Dock. By 2026, it will produce 5,000 kg of green hydrogen daily, increasing to 25,000 kg by 2028. The company is also investing in training programs to develop a skilled workforce for the green energy sector. The project received support from the Welsh Government.

MSCI, a leading provider of ESG ratings, reported USD 250 million in ESG business revenue, with USD 150 million from ESG ratings and climate solutions. Their ESG business has shown a 30% compound annual growth rate over the last decade. The company's approach focuses on measuring long-term, material risks, using alternative data sources beyond self-reported information from companies. MSCI observes increasing corporate engagement with ESG issues, particularly in the last three years, with a response rate of roughly 75% from companies in the MSCI World Index.

The Loan Market Association (LMA), along with the European Leveraged Finance Association, is working to provide guidance on incorporating ambitious, meaningful, and sincere ESG targets into leveraged financing. This follows a recent trend of increased ESG considerations in leveraged loans, driven by investor pressure and the direct impact of ESG factors on credit risk. The LMA, along with its US and Asia Pacific counterparts, recently updated the Sustainability-Linked Loan Principles to include mandatory external verification of ESG performance.

Greek company AKTOR S.A., involved in technical and energy projects, had 160,523,985 rights admitted to trading on the ATHEX exchange. The pre-emption right's trading period was set from January 10, 2025 to January 21, 2025, with a starting price of €0.0596. Forced sales of shares in ALPHA SERVICES AND HOLDINGS S.A. and ATHENS WATER SUPPLY & SEWAGE Co. also occurred.