Weekly Sustainable Finance Newsletter 29/2024

Explore the latest product launches, regulatory developments and innovations in the area of Sustainable Finance and much more!

It is our pleasure to share the Sustainable Finance Daily Newsletter 29/2024?covering?July, 15 until July, 21 with you.

3M Invests in Ohmium to Advance Green Hydrogen Technology

3M announced a strategic investment in green hydrogen tech company Ohmium International to support the transition to a low-carbon economy. Ohmium, founded in 2019, designs modular, scalable proton exchange membrane (PEM) electrolyzer systems that use 100% renewable energy to produce green hydrogen. Read more here.

Cleantech Firm Naked Energy Raises $22 Million to Advance Heat and Power Decarbonization

British solar heat and power company Naked Energy has raised ￡17 million ($22 million) in a Series B funding round to accelerate its global expansion and enhance its decarbonization solutions. Founded in 2009, Naked Energy specializes in high energy density solar collectors, including the VirtuPVT hybrid system that combines solar PV and thermal technologies, and VirtuHOT, a solar thermal collector for heating water. Read more here.

Schneider Electric Unveils New Sustainability Data Management Solutions

Schneider Electric has launched enhanced features for its EcoStruxure Resource Advisor platform, designed to help companies meet evolving sustainability reporting requirements. The updated platform addresses challenges such as ESG reporting, renewable energy management, and carbon footprint reduction. Read more here.

Eurazeo Raises Over €700 Million for Transition Infrastructure Fund, Surpassing Target by 40%

Investment management firm Eurazeo announced that its inaugural transition infrastructure program raised €706 million in commitments, exceeding its initial €500 million target by over 40%. The Eurazeo Transition Infrastructure Fund (ETIF), classified as Article 9 under the SFDR regulation, focuses on transitioning essential services to a low carbon economy, investing in energy, digital, clean transport, and environmental sectors. Read more here.

HSBC's establishment of HSBC Infrastructure Finance (HIF) with Danny Alexander as CEO

HSBC has launched HSBC Infrastructure Finance (HIF), a new business unit focused on infrastructure financing and project finance advisory for the low carbon transition. Danny Alexander, former UK MP and Vice President at the Asian Infrastructure Investment Bank, has been appointed CEO of HIF. Read more here.

74% of Public Companies to Invest in Sustainability Reporting Technology: Deloitte Survey

A Deloitte survey reveals that 74% of public companies plan to invest in new technology or tools to enhance their ESG disclosure capabilities over the next year. This shift comes as companies prepare for stricter regulatory requirements, such as the EU’s CSRD and SEC’s climate disclosure rule. The study, “2024 Sustainability Action Report,” highlights that 99% of companies are gearing up for increased reporting demands, with data quality remaining a top challenge. Read more here.

Majority of M&A Dealmakers Willing to Pay Premium for High ESG Maturity Companies: KPMG Survey

A new KPMG survey reveals that ESG due diligence is increasingly integral to M&A transactions, with most dealmakers willing to pay a premium for targets demonstrating high ESG maturity. The survey, Global ESG Due Diligence+ Study 2024, found that 71% of respondents see ESG considerations as more important in transactions over the past 12-18 months, despite a downturn in overall M&A activity. Read more here.

First U.S. Green Economy Stock Market Proposed by GIX

The Green Impact Exchange (GIX) has submitted an application to the Securities and Exchange Commission (SEC) to become the first U.S. stock market dedicated exclusively to the green economy. This groundbreaking initiative aims to create a specialized platform for sustainable investments, providing more opportunities for investors interested in green projects. Read more here.

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Your Sustainable Finance Daily Team