From landmark agreements to sustainable investments - ESG breakthroughs this week, brought to you by NeoImpact!
Welcome to the 12th edition of the Impact Herald Weekly. This week witnessed exciting developments in clean energy and sustainable finance landscape. In U.S, Google and Kairos collaborate for a landmark nuclear energy deal while the World Bank prices a benchmark bond, raising GBP 700 million. In Europe, Swedish company Aira secures USD 69 million to expand its heat pump technology across Europe while in Illinois, U.S, Southwest Airlines announces a major sustainable aviation fuel deal. Finally, in Azerbaijan, Baku hosts a landmark sustainable development forum which is setting the stage for a global push to a sustainable future.
Monday, October 14, 2024
Google signs historic nuclear energy deal with Kairos Power
Google has signed a contract with Kairos Power in the world's inaugural corporate deal to procure nuclear energy from multiple small modular reactors (SMRs). This agreement is set to deliver up to 500 MW of new 24/7 carbon-free power to U.S. electricity grids by 2035. Emphasizing Google's commitment to clean energy solutions, this leap forward in advanced nuclear technology signals a major step towards achieving 24/7 carbon-free energy and net-zero goals. The collaboration will unlock immense potential of AI technologies in supporting significant scientific breakthroughs, driving economic growth, and business services through reliable, clean energy sources.
Tuesday, October 15, 2024
World Bank raises GBP 700 million in 10-year sustainable development bond to fuel global initiatives
In a remarkable move to fuel sustainable development initiatives, the World Bank has successfully priced a 10-year GBP-denominated benchmark bond, raising GBP 700 million. The bond, boasting an annual coupon of 4.25% and an annual yield of 4.321%, represents a pivotal step in diversifying funding sources. With joint lead managers including Citi, Morgan Stanley, NatWest Markets, and Santander, this milestone highlights the World Bank's commitment to propelling inclusive and sustainable development in member countries. This bond, which matures in October 2024 attracts strong investor demands.
Wednesday, October 16, 2024
Clean energy innovator Aira secures USD 69 million investment for heat pump expansion across Europe
Swedish clean energy-tech trailblazer, Aira, has successfully secured a monumental $69 million investment from prominent existing investors - Temasek, Statkraft Ventures, Kinnevik, and Altor, to accelerate the deployment of its innovative heat pumps across Europe. This will propel Aira's expansion plans in key markets such as Germany, Italy, and the UK. The company's vision aims to revolutionize residential heating, significantly reducing CO2 emissions and offering cost-effective, environmentally friendly alternatives for homeowners. This investment marks a significant step toward sustainable energy solutions, driving the much-needed transformation in the residential heating sector.
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Thursday, October 17, 2024
Southwest Airlines secures largest sustainable aviation fuel deal in Illinois
Southwest Airlines Co. has made a major sustainable aviation fuel (SAF) supply agreement with Valero Marketing and Supply Company, a subsidiary of Valero Energy Corporation, for Chicago Midway International Airport (MDW). This two-year partnership, with commitment to procure a minimum of 3.6 million gallons of neat SAF, is anticipated to reduce greenhouse gas emissions by around 74% to 84% compared to conventional jet fuel. This deal marks a significant leap forward in Southwest's journey towards net zero carbon emissions by 2050. The collaboration significantly contributes to Illinois' clean energy objectives, emphasizing the vital role of public-private cooperation in driving sustainable aviation initiatives.
Friday, October 18, 2024
Azerbaijan’s Baku hosts “Green Finance and Sustainable Development” forum
In another move toward environmental sustainability, COP 29 host Azerbaijan is setting the stage for a significant forum on "Green Finance and Sustainable Development", in Baku. This event is poised to draw in power players from the Central Bank of the Republic of Azerbaijan, the Ministry of Ecology and Natural Resources, and the UN Representation in Azerbaijan. Taleh Kazimov, Chairman of the Central Bank of the Republic of Azerbaijan, revealed that the anticipated legislative framework for "green" bond issuance is currently awaiting the green light from Azerbaijani government. This revelation is bound to reflect throughout the global financial landscape.
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