Green Investment Bank (GIB)

DEFINITION: The financial institution was created by the UK Government in November 2012 to invest in green projects on commercial terms and mobilise other private sector capital into the UK's green economy. The GIB has invested £2.7bn in more than 85 UK green infrastructure projects, ranging across wind energy, biomass and energy-from-waste (EfW) facilities. In April 2017, the UK Government completed the sale of the GIB to Australian investment bank Macquarie today (20 April) for a sum of £2.3bn.

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Sunak additionally launched a £4bn “levelling up” fund, designed to help cities, towns and regions improve infrastructure and skills

Green groups call for assurances over National Infrastructure Bank

A host of green groups have written to the Chancellor of the Exchequer Rishi Sunak, urging for the implementation of a UK National Infrastructure Bank (NIB) to de-risk private investment into low-carbon solutions.

Image: Dhiraj Singh/Bloomberg

Bloomberg NEF: Pandemic's effect on renewable energy investment has hit developing nations hardest

Covid-19 has slowed renewable energy investment globally in 2020 - but developed nations are likely to see similar levels of investment to 2019, which was a record year, while developing nations will take a bigger hit.

GIG is aiming to improve the biodiversity at each site, with a Biodiversity Net Gain Assessment to be carried out on each project

Macquarie issues joint venture on 1GW solar and battery project pipeline

Macquarie's Green Investment Group (GIG) has announced a new UK joint venture with Enso Energy to create one of the largest solar and battery portfolios that will enhance the biodiversity on each project site.

Support continues for fossil gas amongst many member states and politicians, who continue to call for new, often ‘hydrogen ready’, infrastructure

Europe risks €87bn in stranded fossil gas assets, report reveals

Europe is already building or planning to build €87bn worth of fossil gas infrastructure in a continued expansion of pipelines and LNG terminals, despite the need to halve emissions by 2030, according to a new report published on Thursday (8 April).

Uber's EVs and Hubbub's network of food waste heroes: The sustainability success stories of the week

As part of our Mission Possible campaign, edie brings you this weekly round-up of five of the best sustainability success stories of the week from across the globe.

Pictured: A boat on the Tapajos. Image: WWF/Reckitt

Reckitt partners with WWF, pledging £10m donation

Reckitt, the parent company of brands including Air Wick and Dettol, has announced a three-year partnership with WWF focusing on nature conservation.

Ministers face mounting pressure to clarify the Government's long-term plans for energy efficient, low-carbon homes

Green Homes Grant scheme to officially close this week, UK Government confirms

The UK Government has confirmed that it will axe its Green Homes Grant Scheme, which had £1.5bn of its £2bn funding pot withdrawn, on Wednesday (31 March).

Most of the new jobs would be in energy efficiency - but there are also major opportunities in energy generation and manufacturing

UK's net-zero transition will create up to 1.7 million green jobs this decade, report finds

If the UK Government adopts the Climate Change Committee's Sixth Carbon Budget advice and supports businesses accordingly, some 1.7 million new 'green-collar' jobs can be created by 2030.

Green groups claim the decision is against efforts to champion climate action in the build up to COP26

'Outrageous hypocrisy': Government condemned over £16bn oil and gas sector 'bailout'

Green groups have expressed their anger at the Government's new £16bn sector deal that pledges to align the oil and gas sector with the national net-zero target, while also ending financing for overseas fossil fuel projects, with many frustrated by a refusal to end oil and gas licensing.

Households are responsible for an estimated 20% of the UK’s total climate emissions - largely due to fossil fuel heating and energy inefficiencies 

'Woefully inadequate': MPs slam Government's energy efficiency plans after Green Homes Grant fiasco

The UK will miss its long-term, legally binding climate targets unless the Government addresses energy efficiency in homes as a priority, MPs are warning.

Pictured: Mangroves, which could provide an investment opportunity for those seeking biodiversity and carbon sequestration

Is biodiversity being forgotten in sustainable corporate finance?

EXCLUSIVE: The issuance of sustainability bonds and sustainability-linked loans in the private sector is gathering pace, but are businesses using them to help avert the nature crisis?

Green groups have largely welcomed the new strategy, but want more details

'Another vital step to net-zero': Green economy reacts to the Industrial Decarbonisation Strategy

The UK Government has unveiled a new Industrial Decarbonisation Strategy that will spur rapid decarbonisation across industry, the public sector, construction and manufacturing. But do green groups believe the strategy will put the nation on course for net-zero by 2050?

The 2021 Sustainable Business Leadership Report

edie's annual survey reveals what "business leadership" looks like for sustainability, CSR and energy professionals across the UK, following our first two reports in 2019 and 2020. With businesses responding to the pandemic in different ways, leadership is being redefined.

From 'right to repair' laws to new 'green' incentives for farmers, it has been a busy week for policy relating to energy and the environment in the UK

Six changes to UK green policy that you need to know about this week

The UK Government has announced several important changes to green policy packages this week. Here, edie rounds up the flurry announcements from BEIS, Defra and the Treasury.

The resolution will be put to a vote in May at HSBC’s AGM

HSBC to vote on phase-out of fossil fuel funding

HSBC will propose a new commitment to completely phase-out financing of coal-fired power and thermal coal mines by 2040 globally, following negotiations with a group of investors with $2.4tn in assets under management.

One-fifth of net revenue will be reinvested back into The Big Issue

Big Issue launches climate solutions fund as CaixaBank issues €1bn SDG green bond

The Big Issue Group (TBIG) has partnered with Aberdeen Standard Investments to create a new climate solutions investment fund, while Spanish retail bank CaixaBank has issued a €1bn green bond in alignment with the Sustainable Development Goals (SDG).

The Government’s new £20m fun will assist research and development competition for EV technology innovations

Government confirms 2030 ban on petrol and diesel cars, unveils £20m electric vehicle package

The Government has officially confirmed that the ban on sales of new petrol and diesel cars has been moved forward to 2030, while also announcing a new £20m funding pot for electric vehicle (EV) innovation.

The EU's Green New Deal is meant to see the EIB becoming 'the climate bank' for the bloc

EIB spent €890m on fossil gas since phase out pledge, activists say

The European Investment Bank (EIB) has invested €890m in gas projects since it pledged to phase out investments into fossil fuels by 2022, contradicting the bank's "gas is over" narrative, activists say.

Chancellor Rishi Sunak used his 2021 Budget statement to reiterate the Government's “real commitment to green growth”. Image: Parliament Live TV

Budget 2021: Sunak confirms Net-Zero Innovation Fund, announces freeports to spur green investment

Rishi Sunak delivered his Budget for 2021 today (3 March), pledging to put green investment at the heart of the UK's economic recovery from Covid-19. But the Chancellor has come under fire for failing to mention a number of critical policy enablers for the UK's net-zero carbon transition.     

Dominic has worked within UK Parliament for five years now, helping the organisation to reduce energy and water consumption and cut emissions across its estate

Meet edie's 30 Under 30 Class of 2020: Dominic Pybus, UK Parliament

This new series profiles the members of edie's 30 Under 30 - a nomination-based community of 30 hugely talented young sustainability and energy professionals who have already achieved great things or are showing fantastic promise. Up next: UK Parliament's energy manager Dominic Pybus.

This month's innovations could have significant environmental benefits for sectors including maritime, aviation and packaging 

Aviation fuel made from air and next-gen hydropower: The best green innovations of February 2021

Every month, numerous eye-catching and potentially transformational innovations are being developed to help businesses and nations turn their green ambitions into actions. Here, we round up six of the best from February 2021.

Through 2030, investment opportunities will grow in sectors like wind and solar generation, the report states. Pictured: The Walney Extension offshore wind farm

Report: Strong net-zero policy could help UK attract £350bn of investment by 2050

The low-carbon energy transition in the UK could lead to the development of £350bn of investible assets by 2050 - but only if businesses and policymakers do more to support key sectors.

Sunak will be hosting a press conference after the Budget speech on Wednesday. Image: HM Treasury 

Budget 2021: Businesses and charities make last-minute calls for green funding to Rishi Sunak

With the 2021 Budget being announced on Wednesday (3 March), Chancellor Rishi Sunak is facing mounting pressure over the Green Homes Grant, National Nature Service and other green policy decisions.

Sunak will open his red Budget box on Wednesday afternoon

Budget 2021: Rishi Sunak 'set to unveil green savings bonds and net-zero innovation programmes'

Chancellor Rishi Sunak has confirmed that he will launch green savings bonds at the Budget on Wednesday. There are also media reports of a £1bn portfolio to support innovations that will accelerate the UK's net-zero transition.

Mission Possible: Achieving a green recovery for the public sector

edie's Mission Possible campaign has evolved to focus on the green recovery, with a new series of reports outlining the challenges that businesses in key sectors face in relation to the coronavirus pandemic, and the opportunities that the green recovery will bring. Up next, the public sector.

The first phase of research will last until early 2022

Heathrow secures Government funding to develop net-zero aviation roadmap

Heathrow Airport has secured Government funding for a project dedicated to developing a blueprint for delivering a net-zero UK aviation sector, by or ahead of the national 2050 deadline.

The report outlines policy recommendations spanning from nature restoration to using hydrogen in heavy industry 

Green recovery: MPs call for VAT breaks for energy efficiency, electric vehicles and circular economy

MPs are urging Boris Johnson's Government to take a broader "green recovery" approach, going beyond low-carbon electricity and transport to provide policy supports for nature restoration and the circular economy.

The fund will support key legislative frameworks, including the 25 Year Environment Plan

Defra unveils £10m fund for nature-based climate solutions

The Government has unveiled a new £10m fund to support nature-based projects that combat the climate crisis, in the same week that Oxford University launched a new venture studio designed to uncover similar solutions.

Citi and HSBC, pictured here at Canary Wharf, are among the banks being called upon by the investors

Ditch fossil fuel finance, $11trn investor coalition tells big banks

A coalition of 35 major investors with $11trn of assets under management collectively are calling on banks to "enhance" their climate targets, backing up long-term visions with action in the short-term.

All projects will need to demonstrate how they meet both the Government’s net-zero target and the Ten Point Plan

UK Power Networks funnels £80m into net-zero projects

The network operator that provides energy to more than 18 million people across London and the South East has launched an £80m fund to support projects that will contribute to the UK's net-zero emissions target for 2050.

Sustainability Leaders Awards 2021: Meet the Winners

This special report provides in-depth profiles of all of the winners of edie's 2021 Sustainability Leaders Awards, along with exclusive comments from our judges and summaries of all 189 finalists across 24 categories.

Image: Vincent Zafra / Illusion Story https://commons.wikimedia.org/w/index.php?title=User:VincentZafra&action=edit&redlink=1

Robert Downey Jr launches ESG venture capital funds

Renowned actor and producer Robert Downey Jr. has launched a new Environmental, Social and Governance (ESG) venture capital investment fund aiming to support sustainability products and services, clean energy and resource efficiency.

InfluenceMap's research builds on previous analyses of lobbying by the fossil fuel sector

World's biggest tech firms 'dedicate just 4% of lobbying efforts to climate change'

Analysis of the lobbying activities of Apple, Amazon, Facebook, Microsoft and Google's parent firm Alphabet has revealed that they allocated just 4% of their annual lobbying resources to efforts to combat climate change.

Boeing is striving to halve emissions by 2050 and sees biofuels playing a key role in meeting the target

Boeing planning to debut 100% biofuel planes by 2030

Boeing Co has unveiled plans to deliver commercial aircraft capable of using 100% biofuel by 2030. Using existing technologies under current regulations, it can only use biofuel blends of up to 50%.

Academics and businesses will explore circular solutions for industries including textiles, plastics, construction and metals

Exeter to play host to UK's first national circular economy 'hub'

UK Research and Innovation (UKRI) is investing £3.5m to create a new circular economy hub at the University of Exeter, which will be used to coordinate research and development across the country.

Pictured: Flooding in Lome, Togo. 

Developed nations accused of over-reporting climate adaptation finance by billions

Wealthy nations have exaggerated figures around how much finance they have provided to developing countries for climate adaptation, with up to $20bn less spent than promised between 2013 and 2017.

Five ways to ignite behavior change on energy use

This report showcases the output of edie's SPARK! event, where expert energy professionals from a range of sectors shared experiences driving engagement to change behaviours around energy use.

Six ideas to achieve your flexible energy future on the road to net-zero

This report showcases the output of edie's SPARK! event, where expert energy professionals from a range of sectors discussed the role that smart and flexible energy technologies and systems will play in the net-zero transition.

Pictured: A mangrove forest in the Caribbean 

Boris Johnson promises £3bn of climate finance for nature by 2026

Prime Minister Boris Johnson has outlined plans to allocate at least £3bn of the international climate finance that the UK will spend through to 2026 on nature-based solutions.

Banks 'have provided $1.7trn of unconditional support to plastic polluters since 2015'

Global banks have been accused of collectively providing more than $1.7trn to businesses across the plastics value chain between 2015 and 2019, largely without attaching environmental conditions to support packages.

marine and airborne monitor and offshore floating wind will be championed through the funding

Government commits £200m innovation fund to tackle Covid-19 and climate crisis

Computers capable of tracking diseases and a floating offshore wind test lab are just two of the technologies to benefit from a new £213m government investment pot that aims to upgrade scientific approaches to combatting Covid-19 and the climate crisis.

The airport has been hit hard by the coronavirus pandemic, with flights dropping by 80% since March 2020

Gatwick Airport under fire over 'callous' runway expansion plan

Green groups have criticised the decision from Gatwick Airport to transform its emergency runway into a fully functioning second runway, claiming that the organisation is "ignoring" noise and emissions issues.

Stanlow Ellesmere Port, one of the selected project locations

Funding allocated to six projects aiming to develop world's first net-zero industrial cluster

UK Research and Innovation (UKRI) has selected six projects across the UK that will receive a share of £8m in funding to drive progress towards creating the world's first net-zero emissions industrial zone by 2040.

edie has highlighted 21 aspirational new goals that professionals can work towards to help drive business prosperity while alleviating some key environmental and planetary concerns

21 New Year's resolutions for sustainability professionals in 2021 and beyond

At last, 2020 has drawn to a close and while the first parts of a new year might not create a respite from a global pandemic and an economic crash, it does create the ideal opportunity to look at the climate crisis with a reinvigorated approach.

The White Paper builds on the Ten Point Plan and National Infrastructure Strategy

Five things you need to know about the Energy White Paper

After months of delays, the UK Government finally unveiled its Energy White Paper on Monday (14 December) detailing how an overhaul to transport, energy and infrastructure will deliver an "overwhelmingly decarbonised power in the 2030s" on the road to net-zero by 2050.

The White Paper builds on numerous commitments outlined by Government in recent months

Energy White Paper: Government confirms £6.7bn warm homes package and UK ETS

The UK Government has finally released its Energy White Paper, detailing steps to deliver "overwhelmingly decarbonised power in the 2030s", with a new £6.7bn support scheme to be set up to tackle fuel poverty and a UK variant of the Emissions Trading Scheme to be introduced.

The Chancellor announced in March the UKEF would receive an additional £2bn to finance clean energy projects overseas

UK Government to end support for overseas fossil fuel projects

Prime Minister Boris Johnson has confirmed that the UK Government will end financing and support for overseas fossil fuel projects in the build-up to COP26 in 2021.

SDG Spotlight: How Businesses Can Achieve Goal 12; Responsible Production and Consumption

edie's latest SDG Spotlight report, produced in association with Rio, looks at how businesses can transform operations, services, supply chains and strategies to help deliver Goal 12: Responsible Production and Consumption.

Pictured: Leeds. Leeds City Council declared a climate emergency in March 2019, outlining an ambition to “work towards” a net-zero carbon city by 2030. 

Local authorities 'need more government support to deliver net-zero visions'

Three-quarters of local councils in England have declared climate emergencies - but funding shortages and issues with the skills pipeline could hinder their net-zero progress, according to new analysis from Green Alliance.

All changes are designed to ensure that by 2028, farmers can operate safely and profitably without subsidy support

'Fraught with risk': Government's sustainable farming plan sparks concern amongst green groups

The UK Government has unveiled plans to deliver the most significant change to land management and farming practices in 50 years as a replacement to the EU's Common Agricultural Policy, a move that has sparked widespread concern amongst green groups due to a lack of detail.

The MPs are calling for the Government to level up areas of the North through green measures

MPs set out vision for net-zero Northern Powerhouse

Conservative MPs representing the North of England believe that the Government's Ten Point Plan and the net-zero target can contribute to a levelling up agenda that would create thousands of green jobs in the North.

The 100-page report outlines the Government’s intention to “deliver an infrastructure revolution” that is tied to net-zero

National Infrastructure Strategy: Government to deliver 'revolution' tied to net-zero

The Government has launched its long-awaited National Infrastructure Strategy, detailing how transport, industry, energy and the built environment will be transformed to reach net-zero, with Chancellor Rishi Sunak using his spending review to confirm a £12bn commitment to the net-zero transition in 2021-2022.

The EU called on nations to learn lessons from the disruption caused by the coronavirus pandemic by improving preparedness and resilience when tackling the climate crisis

G20 urges preparedness to tackle climate crisis

As Donald Trump skipped some of the key virtual meetings between G20 leaders to play golf, the European Union (EU) has called on nations to learn lessons from the coronavirus pandemic by stepping up preparedness and resiliency to tackle the climate crisis.

Rishi Sunak is expected to outline how £100bn will be spent on infrastructure in the UK

Government set to unveil national infrastructure bank tied to net-zero

The Government is expected to unveil the long-awaited National Infrastructure Strategy (NIS) this week alongside the Spending Review, with a National Infrastructure Bank set to be created to replace the UK's involvement with the European Investment Bank and funnel capital towards net-zero projects.

The Government insists this is "only the start" of a green policy rollout

Is Boris Johnson's Ten Point Plan enough to reach net-zero?

Businesses, green groups and entire sectors welcomed the far-reaching announcement from the UK Government to issue a Ten Point Plan that would put the nation on the road to net-zero, but already analysis suggests that more is required to reach net-zero emissions by 2050.

More than half of the required £40bn annual investment lacks policy frameworks that would deliver confidence to investors that long-term returns could be generated

Investment gap: £400bn required to deliver net-zero transition, report finds

On the day that the Government unveiled a new Ten Point Plan to drive investment to assist with the net-zero transition, a new report from PwC has warned that up to £400bn needs to be unlocked and funnelled into green infrastructure to meet the 2050 national target.

The Green Alliance argues that a net-zero aligned approach to infrastructure would help the nation deliver an economic recovery from the coronavirus pandemic

Infrastructure policy placing UK's net-zero target at risk, thinktank warns

The UK's net-zero target is in jeopardy due to a lack of legislative requirements on key sectors and infrastructure, with thinktank the Green Alliance warning that there is currently an £11.4bn investment gap in reaching net-zero across transport, buildings, circular economy and natural infrastructure.

Pictured: The Peak District 

Defra doubles £40m green recovery fund for nature after huge demand

The Department for Food, the Environment and Rural Affairs (Defra) has launched a second £40m round of its Green Recovery Challenge Fund, designed to promote nature restoration and conservation, after the initial round proved to be massively oversubscribed.

Pictured: A health centre worker carrying water in Ethiopia. Image: WaterAid/ Genaye Eshetu

Report: Only 1% of global climate finance helps water-stressed communities

Of the $73bn of international climate funding provided in 2018, less than 1% was allocated to help the world's poorest people access water and sanitation, a major new report from WaterAid reveals.

Businesses which apply for the extension will have until March 2022 to finalise their appliacations

BEIS gives businesses extra 12 months to apply for RHI

The UK Government has confirmed that it will extend the Non-Domestic Renewable Heat Incentive (RHI) scheme by 12 months, in light of the impact of Covid-19 on the private sector.

Collectively, G20 nations have allocated 33% more funding to fossil fuels than low-carbon generation since March

UK's Covid-19 recovery package for energy 'not net-zero aligned', report finds

The UK Government has earmarked £3.8bn of stimulus funding for legacy fossil fuel and nuclear generation, compared to just £121m for renewables, a damning new report has claimed.

Unilever is aiming to use at least 25% PCR by 2025 and expects to double the amount it uses over the next 12 months

Unilever expects to double use of recycled plastics in next 12 months

Unilever has confirmed that 10% of its plastic footprint now consists of post-consumer recycled plastic (PCR), as the company pushes ahead to meet a target of halving the use of virgin plastic.

Mission Possible: Achieving a green recovery for hospitality and leisure

edie's Mission Possible campaign has evolved to focus on the green recovery, with a new series of reports outlining the challenges that businesses in key sectors face in relation to the coronavirus pandemic, and the opportunities that the green recovery will bring. Up next, hospitality and leisure.

NEP transportation and storage infrastructure linked to both sites could enable almost 50% of the UK’s industrial emissions to be decarbonised

Energy giants launch Northern Endurance Partnership to explore carbon capture opportunities

A group of businesses including BP, Shell and the National Grid have formed the Northern Endurance Partnership (NEP), which is aiming to develop carbon transportation and storage infrastructure in the North Sea to assist with plans to decarbonise the UK's industrial clusters.

edie explains: Science-based targets

What makes emissions targets "science-based"? How can businesses go beyond 2C alignment and strive for 1.5C? And what role do these targets play in the net-zero movement? This free edie explains guide answers all of these questions and more.

Pictured: Equipment arriving at the recycling plant in Perthshire, Scotland. Image: Recycling Technologies

Unilever and UK Government back chemical plastic recycling innovation

A joint project hoping to scale-up chemical recycling for hard-to-recycle plastics waste, involving Unilever and synthetic fuel giant Neste, has received a £3.1m grant from UK Research and Innovation (UKRI).

The Chancellor announced in March the UKEF would receive an additional £2bn to finance clean energy projects overseas

UK Export Finance could support 42,000 green jobs by reallocating funds from oil and gas

The UK Government's direct lending facility could support more than 40,000 jobs in the renewables sector annually by 2035, if it were to assume liabilities for renewable exports like it currently does for oil and gas, new research has found.

The technologies identified could add up to €790bn of gross added value to the European economy annually by 2030

Capgemini: EU must invest in high-impact climate technologies through green recovery funding

The EU must allocate portions of its €750bn Covid-19 recovery fund to emerging, innovative technologies which decarbonise energy, the built environment, industry, transport and the agri-food sector if it is to meet its net-zero goal by 2050, new analysis has found.

Depending on the individuals' net-worth, it could take as little as 5,000 people to meet the $10bn goal

New initiative to help investors funnel $10bn into climate solutions annually

By allocating just 0.25% of their savings and investments to fund not-for-profit projects aiding climate adaptation and mitigation, individual investors could collectively funnel $10bn per year into this space by 2030, a pair of ex-financiers have claimed.

Several major banks have outlined new climate targets since the pandemic began

HSBC sets net-zero target, plans $750bn of low-carbon investment by 2030

HSBC has committed to reaching net-zero financed emissions by 2050 and outlined plans to finance at least $750bn of low-carbon activities within a decade.

The Government is facing mounting pressure to join-up its approach to financing a green economic recovery from the recession

Issue green sovereign bond to finance UK's Covid-19 recovery, investors urge Government

A group of 30 major investors with more than £10trn of assets under management collectively are calling for the UK Government to launch a green sovereign bond to ensure adequate funding is put behind its mission to deliver a "green" Covid-19 recovery.

Just 2% of the world’s terrestrial habitat which is degraded and would benefit from restoration is currently receiving such attention

$500bn per year needed to halt nature loss and boost biodiversity, nations and businesses told

A coalition of more than 140 nature conservation groups is calling on governments and businesses to ensure that $500bn of funding is provided annually to protect, restore and create habitats.

The fund will expand to cover mining and extractives in the coming years

Blackrock's circular economy fund has raised $900m in its first year

BlackRock has revealed that its investment fund dedicated to accelerating the global development of a circular economy has raised more than $900m in its first year, growing from just $20m of seed funding from the asset management giant itself.

Funding from the grant will also enable the farmers to conduct their own research into soil and water usage

Sustainable MacFries Fund: McDonald's to invest in climate-friendly farming practices

McDonald's has launched a "Sustainable MacFries Fund" in partnership with McCain to improve the resilience of British potato farmers, while also collaborating with the Walmart Foundation, WWF and Cargill in the US to improve land use practices.

While climate tech still only accounts for 6% of the venture capital market, it’s representation has grown by more than 3750% in absolute terms since 2013

Climate technology investments growing five times faster than average market rates

Venture capital investment into climate-related technology is growing five times faster than the average rate of all other industry investments, with new analysis from PwC finding that corporate and investor demands for low-carbon innovation led to $16bn being invested in 2019.

CBI research shows that for every £1 spent on construction activity, £2.92 is created in wider value to the economy

UK needs 'significant' overhaul of infrastructure investment to reach net-zero, report claims

The Confederation of British Industry (CBI) has claimed that the UK Government needs to "undertake a significant programme of infrastructure investment" to enable regulators and private investment to create funding for critical net-zero infrastructure.

The handbook is free to download

edie launches new handbook on ESG excellence and best practice

edie has published a new handbook outlining the key considerations and best practice advice to collecting and compiling Environmental, Social and Governance (ESG) data that investors are increasingly looking for, in order to spur the green recovery.

An artist's rendering of the planned gigafactory. Image: Northvolt

EU invests €350m in first domestic battery gigafactory

The European Investment Bank issued a €350 million loan on Thursday (30 July) to a Swedish company that hopes to corner a significant share of the global battery market by building the "greenest" power packs available.

The IEA is forecasting an 8% year-on-year decline in coal generation - but government recovery plans could result in the coal sector rebounding

Report: Governments collectively failing to deliver net-zero-aligned coal phase-out

Coal accounted for 40% of carbon emissions from energy use last year and this trend is unlikely to be stopped by existing commitments from national governments - including so-called 'green' Covid-19 recovery strategies.

The updated deal raises spending on climate action from 25% to 30%

Coronavirus: EU's recovery deal lacking climate spending accountability, green groups warn

Following four nights of negotiations, the European Union (EU) has agreed its biggest joint borrowing plan ever recorded, pledging €750bn to a coronavirus recovery package, but green groups have expressed concerns that focus and accountability on green spending have "taken a battering".

This weekly round-up explores how businesses across the world are ramping up efforts across all areas of sustainable development

Tesco's EV charging milestone and an offshore wind boom: The sustainability success stories of the week

As part of our Mission Possible campaign, edie brings you this weekly round-up of five of the best sustainability success stories of the week from across the globe.

The largest contributor to unconditional fossil fuel financing is the US

G20 nations funnel $151bn of Covid-19 recovery funding into fossil fuels

Of the Covid-19 recovery funding allocated to energy companies by G20 governments, 56% has been handed to fossil fuel projects, equivalent to $151bn (£119bn).

The UK’s net-zero emissions target for 2050 will require every household to replace their heating system with lower carbon alternatives

Government urged to ratchet up spending into household energy efficiency

The UK Government has been urged to implement a Home Improvement Plan to facilitate more than £5bn in annual spending to improve the energy efficiency of the UK's housing stock to contribute to the net-zero target for 2050.

The survey results come as the Treasury prepares to announce new plans on retrofitting

Survey: Energy professionals believe retrofitting is key to a green Covid-19 recovery

A survey of 350 UK-based energy professionals has found that 80% want the majority of the UK's Covid-19 recovery package funnelled into 'green' industries, with energy efficiency retrofits for housing cited as the most popular route to both economic recovery and net-zero.

Sunak's speech has been long-awaited, given that other nations, including Spain and Germany, have already outlined full Covid-19 recovery measures

Green Recovery: Treasury unveils £3bn package spotlighting energy efficiency and reskilling

Chancellor Rishi Sunak has outlined the key details of a £3bn plan intended to create thousands of "green-collar" jobs, improve energy efficiency and conserve natural resources.

The Treasury will reveal more details around the recovery package next week, and is under mounting pressure to ensure that it is "green"

Brits believe a non-green Covid-19 recovery would be bad for the economy, cross-party survey reveals

A survey of more than 2,000 UK voters, in which all major political preferences were accounted for, has revealed that the majority of Brits want a "green" recovery from Covid-19, in which measures designed to boost the economy also serve to reduce pollution and emissions.

There are now less than 10 years to achieve the SDGs

One Young World: Business giants invest £500k in SDG-aligned innovations

AstraZeneca, Deloitte and BP are among a cohort big-name businesses to have jointly unveiled £500,000 of grant funding for young innovators working on projects driving progress towards the aims of the UN Sustainable Development Goals (SDGs).

Amazon to invest $2bn in low-carbon innovations

Amazon will invest at least $2bn (£1.6bn) in smaller firms creating technologies or services aimed at reducing carbon emissions to net-zero, the e-commerce giant announced on Tuesday (23 June).

Pictured: An artist's impression of the completed project. Image: Carlton Highview Storage

World's biggest liquid air battery under construction in Greater Manchester

Construction on the world's largest liquid air battery is beginning in Trafford this week, after the project secured a £10m grant from the UK Government.

Of the EU's €750bn package, €100bn should be spent on renewable energy, the letter states. Pictured: Denmark's Kattegat offshore wind farm.

Corporate clean energy sourcing must form part of green Covid-19 recovery, dozens of businesses tell policymakers

Mars, Nestle, and IKEA owner Ingka Group are among a coalition of more than 50 major businesses calling on EU leaders to build the business sourcing of renewables into the bloc's Covid-19 stimulus package, hailed globally as "green".

Fossil fuel majors are believed to have received more than £2trn in finance since the Paris Agreement was ratified

Report: Global carbon budget will be exhausted in 15 years without fossil fuel finance overhaul

Without drastic action from banks, policymakers and regulators, the world risks becoming stuck in a "climate finance doom loop", whereby financial systems support the organisations contributing most to environmental changes which undermine their very security.

The projects will receive funding and assistance to develop business plans with the aim of attracting additional private sector investment

Defra backs natural capital investment projects

Four projects focused on protecting and restoring natural habitat across the UK are being backed by Government funding as part of a pilot scheme to funnel more private sector investment into the natural environment.

Ofgem is due to make a decision on gas network investment in July.

UK's gas networks call for £900m investment into zero-carbon infrastructure

Britain's five gas networks companies have today outlined plans to spend more than £900m on zero-carbon energy infrastructure and hydrogen deployment across the UK, subject to Government approval on funding.

A “do no harm” test embedded in the taxonomy will in principle exclude technologies like nuclear power

Coronavirus: EU's €750bn recovery fund to funnel investments towards climate action

The European Union's proposed €750bn fund to help the bloc recover from the coronavirus crisis will have green strings attached, with 25% of all funding set aside for climate action, the European Commission has said.

The UK could become a world leader for green hydrogen, as it could become cost competitive much faster, due to enabling policies and low-cost and highly abundant renewable

Report: Renewables to account for three-quarters of UK's power demand by 2050

The UK could source 76% of its power demand from renewables by 2050, according to a new report from RenewableUK which claims that the nation's net-zero target will spur rapid demand for green hydrogen while attracting more than £50bn to an already world-leading offshore wind sector.

Net-Zero Resources & Waste: The Circular Economy Inspiration Sessions

Hosted during edie’s special Net-Zero Week of online content and events, the Circular Economy Inspiration Sessions offer up an afternoon of live, interactive webinar presentations and discussions – all dedicated to minimising waste and moving towards a regenerative economy.

The coalition of companies aims to begin construction in 2022, subject to additional funding, and the facility could be operational by 2025

Planning application for UK's first waste-to-jet fuel plant given green light

A planning application backed by Shell and British Airways to create the UK's first commercial-scale waste-to-jet fuel plant in North East Lincolnshire has been granted planning permission.

The Capacity Market will now be subjected to reporting and verification mechanisms that place a carbon emissions limit that will apply to all contracted technologies before July 2019

Government to introduce 'carbon threshold' for Capacity Market

The Department for Business, Energy & Industrial Strategy (BEIS) has outlined reforms to the Capacity Market auction system which will enable demand-side response technologies to bid for 15-year contracts while adding a carbon emissions limit to spur an increase of low-carbon assets offered contracts.

The empty streets of Paris as a result of the lockdown, which is only starting to be lifted in the country

Lockdown sees global emissions fall by 17%

New research has suggested that daily global carbon emissions recorded in April 2020 were 17% lower compared to the same month last year, largely due to the coronavirus pandemic and forced lockdowns and postponement in production.

30% of manufacturers had been focusing heavily on energy efficiency investments over the last year

Report: UK manufacturers boosting profits by focusing on energy efficiency

UK manufacturers that have taken steps to improve energy efficiency and decarbonise operations are reaping benefits, with 40% reporting increased profit margins and 30% experiencing increased competitiveness.