Top Climate News - Feb 19
Canada to issue third green bond
(February 18)
Canada has announced its plan to issue its third Canadian-dollar-denominated green bond this week, subject to market conditions. This follows the successful issuance of a 10-year, $4 billion green bond issued in February 2024, which was reopened in October 2024 for an additional $2 billion. This week’s issuance will be the second in fiscal year 2024-25, as outlined in Budget 2024, and supports Canada’s green bond program that mobilizes capital for projects aimed at achieving net-zero emissions by 2050.
NANO Nuclear Energy Strengthens Intellectual Property Portfolio with Four New Patent Applications
(February 18)
US-based NANO Nuclear Energy Inc. (NASDAQ: NNE) has strengthened its intellectual property portfolio by filing four new patent applications with the United States Patent and Trademark Office. These patents focus on the company's Annular Linear Induction Pump (ALIP) technology, which is integral for developing advanced molten-salt and liquid-metal nuclear reactors. The new applications detail innovative methods and platforms for optimizing electromagnetic pumps. This advancement aligns with ongoing efforts to commercialize the technology and support NANO Nuclear’s development of next-generation nuclear energy solutions.
Restoring Grasslands to Reduce Human-Wildlife Conflict
(February 18)
Conservation International has conducted a study showing that restoring grasslands can significantly reduce human-wildlife conflicts. Over 16 months, they gathered data from more than 1,500 households in Chyulu Hills, where they have restored 11,000 hectares of degraded grasslands to date. The project aims to restore a total of 20,000 hectares by 2027. Healthy grassland ecosystems not only help mitigate conflicts but also support the local ecosystem and enable coexistence between wildlife and pastoralist communities.
Montana Renewables Secures Financing for Sustainable Aviation Fuel Expansion
(February 18)
US-based Montana Renewables, LLC , an unrestricted subsidiary of Calumet, received its first drawdown of approximately $782 million from a $1.44 billion guaranteed loan facility with the U.S. Department of Energy. This funding is aimed at the construction and expansion of a renewable fuel facility, increasing their Sustainable Aviation Fuel (SAF) production capacity to 300 million gallons per year. The expansion, which includes a new renewable fuels reactor, is expected to create 450 construction jobs and enhance regional economic development by supporting local agriculture and renewable feedstock sources.
Revolve secures US$1.5 million from project sale
(February 18)
Canada-based Revolve Renewable Power - TSXV:REVV - OTCQB:REVVF has announced the sale of a 3MW combined heat and power (CHP) project for total cash consideration of US$1.5 million. This project was part of the CBS Mexico acquisition, which Revolve originally acquired for US$1.4 million in August 2022. By selling the CHP Project, the company intends to reinvest the capital into higher-return near-term opportunities, while continuing to operate other assets in its distributed generation portfolio.
OCBC Expands Sustainable Financing for SMEs
(February 18)
Singapore-based OCBC Bank reported a significant increase in sustainable financing for SMEs, providing over S$9 billion in sustainability-linked loans (SLLs) in 2024, a 40% increase from S$7 billion in 2023. In 2024, OCBC issued more than 110 SLLs, up from 24 in 2023 and just one in 2022. To assist SMEs in adopting sustainability practices, OCBC has partnered with Enterprise Singapore to launch the OCBC SME Start-ESG Programme which covers up to 70% of the costs for sustainability assessments over three years, with evaluations costing about S$1,000 after grants. Additionally, OCBC has introduced the SME Energy Efficiency Assessment tool for SMEs, enhancing their energy performance evaluations.
EU updates nuclear materials supervision system for improved safeguards
(February 18)
The Council of the European Union has revised the regulation on the application of Euratom safeguards to enhance the supervisory system for nuclear materials. This update includes measures to simplify procedures and reduce administrative burdens, reflecting advancements in technology. Key changes involve a graded approach to reporting based on materials' strategic value and integration of nuclear safeguarding measures early in planning. This regulation aims to ensure that nuclear materials are not diverted from their intended, peaceful uses.
Green Climate Fund greenlights two FAO-led projects for climate resilience
(February 18)
The Green Climate Fund (GCF) has approved funding for two new projects totaling over $130 million to enhance climate resilience in Kenya and Serbia. In Kenya, a $50 million project aims to transform agricultural value chains, benefiting 2.7 million people, particularly women. In Serbia, an $84 million initiative will enhance forest resilience and energy security for 3.6 million people. Both initiatives represent significant investments in sustainable development in their respective countries.
Philippine Infrastructure Drive Creates Investment Opportunities
(February 18)
The Philippines has recognized the critical need for further development of transportation, green, and digital infrastructure. The government, under President Ferdinand Marcos Jr., has rolled out the Build Better More program with a significant budget of approximately USD26 billion for infrastructure projects in 2025, accounting for over five percent of the GDP. ADB is financing initiatives to integrate electric buses into public transit to meet the country's climate targets and enhance mobility. Furthermore, the country aims to have various seaports to support renewable energy projects, particularly offshore wind farms.
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