Carlyle Announces Over $100 Million Investments in Clean Energy Storage, EV Infrastructure Tech Companies

Global private capital investment firm The Carlyle Group announced commitments of over $100 million in energy transition-focused companies, including community-scale clean energy developer NineDot Energy and electric vehicle charging and services company Fermata Energy.

New York City-based NineDot develops community-scale clean energy generation and battery storage projects. According to NineDot, the Carlyle investment will achieve the company’s plan to develop, build, and operate more than 400 megawatts of clean energy systems by 2026, including a pipeline of battery storage projects in Queens, Staten Island, the Bronx, and Long Island.

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NGFS Appoints MAS’ Ravi Menon as New Chair of Climate-Focused Central Bank Coalition

The Network of Central Banks and Supervisors for Greening the Financial System (NGFS) announced today the appointment of Monetary Authority of Singapore (MAS) Managing Director Ravi Menon as its new Chair, and Sabine Mauderer as Vice Chair. Ms. Mauderer is a Member of the Executive Board of the Deutsche Bundesbank. Both positions are for two year terms, beginning January 2022.

The NGFS was established in 2017, with the purpose of helping to strengthen the global response required to meet the goals of the Paris agreement and to enhance the role of the financial system to manage risks and to mobilize capital for green and low-carbon investments in the broader context of environmentally sustainable development. Since its founding, the organization has grown from eight central banks and supervisors to more than 105 members and 16 observers across five continents.

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Eastman Unveils Plans for $1 Billion Plastic Recycling Facility in France

In a joint announcement with French President Emmanuel Macron, global chemical and specialty materials company Eastman Chemical Company unveiled today plans to invest up to $1 billion in a material-to-material molecular recycling facility in France, capable of recycling up to 160,000 metric tonnes annually of hard-to-recycle plastic waste.

Expected to be operational by 2025, the plant would be the largest molecular recycling facility in the world. Eastman’s polyester renewal technology breaks down waste into its molecular building blocks for re-use, creating resins that are chemically indistinguishable from their legacy counterparts, while diverting waste plastic from landfills and reducing greenhouse gas emissions relative to traditional production. The process provides a key solution to recycle plastics that would typically be incinerated, enabling them instead to be reused continually. The technology enables the production of plastics with up to 80% lower greenhouse gas (GHG) emissions than traditional methods.

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ESG Today: Week in Review

This week in ESG news: State Street to require portfolio companies to provide climate disclosure; investors call to keep gas out of EU Taxonomy; Blackstone invests $3 billion in renewable energy developer Invenergy; Citi launches sustainability-linked supply chain finance program; IBM acquires sustainability data & analytics provider Envizi; BlackRock launches fund investing in net zero transition winners; Maersk pledges to provide net zero supply chains; SBTi outlines action plan for 2022; EY says companies gearing up for ESG-focused M&A; Iberdrola makes big move in UK solar market; HSBC launches ESG funds for fixed income investors, and more.

See below for the highlights of the past week, and get all your ESG news at ESG Today:

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Iberdrola Expands Position in UK Renewables Market with 800 MW Solar Acquisitions

Global energy and electricity provider Iberdrola announced today a significant expansion of its presence in the UK renewable energy market, acquiring 17 solar photovoltaic (PV) projects with a combined capacity of more than 800 MW.

The transactions consist of two separate deals conducted by Iberdrola’s UK subsidiary ScottishPower, with 12 projects acquired from Elgin Energy, and remaining 5 projects from Lightsource BP. Following the transactions, Iberdrola’s market share in the solar PV sector will rise from 2% to 9%.

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