Barclays cuts finance ties with private prisons
Barclays Plc will stop providing future financing to companies that manage private prisons and immigration holding facilities, joining other major lenders in shunning the industry.
Finance
Barclays commits to 100% renewable energy by 2030
The British multinational investment bank Barclays has entered RE100, a global initiative committing to source 100% renewable electricity for their global operations by 2030.
E.U. and Bill Gates launch €100m clean energy innovation fund
The European Commission, European Investment Bank and Breakthrough Energy Ventures have launched ‘Breakthrough Energy Ventures Europe’: a €100m fund to support investments in clean energy.
Global investment in coal tumbles by 75% in three years
Estimates suggest 2018 was the first time there has been a reduction in coal-fired power capacity across the world since the industrial revolution.
Bank of America commits $300 billion to sustainable finance by 2030
By helping clean energy business tap global markets, Bank of America is funding valuable sustainable projects and also creating green jobs, spurring economic progress.
The European Investment Bank and Palestine Investment Fund offer $18 million for school solar projects in Palestine
The European Investment Bank (EIB) and the Palestine Investment Fund (PIF) revealed the signing of a loan agreement worth $18 million which will finance the installation of 35 megawatts (MW) of solar PV systems on 500 public schools in the West Bank.
Global market for smart solar street lighting projected to hit $18 billion annually by 2024
Smart solar street lighting saves money and is better for the environment. The city of Syracuse, for example, is purchasing the more than 17,500 street lights that will deliver more than $3 million in annual savings to its operating budget.
Abundance Investment secures £7 million to build world’s most powerful tidal stream turbine
Orbital Marine Power will use the £7 million to build its first production model of its Orbital O2 2 MW tidal stream turbine an innovative floating tidal turbine platform that can be towed, installed, and easily maintained.
Multilateral Development Banks commit to align activities with Paris Agreement
The MDBs’ commitment goes beyond specific MDBs’ 2020 and 2030 climate finance targets, and builds on their ongoing contribution to climate finance, which amounted to US$35 billion in developing and emerging economies in 2017.
New Caribbean alliance drives $6 billion clean energy funds to replace diesel
A new Caribbean coalition, led by some of the world’s clean energy heavyweights and bankrolled, in part, by international lending institutions will channel $6 billion to transition the region to renewable energy.