Infrastructure investor Macquarie has written to UK ministers to confirm it has financed billions of pounds of environmentally friendly projects as part of an agreement in its purchase of the Green Investment Group from the government three years ago. The Australian company promised to finance £3bn in green energy projects in the UK and Europe over the three years following its £1.6bn acquisition of the group, which was then known as the Green Investment Bank, in August 2017. Mark Dooley, global head of the Green Investment Group pointed to an upsurge in corporate clients. These include Tesco, which is working with the GIG to install solar energy at a number of properties in the UK, and Amazon, which has recently announced plans to invest in 127 solar and wind projects, making it one of the world’s largest corporate buyers of green energy.
FT 4th Jan 2021 read more »
Unilever’s Port Sunlight research centre and factory in the Wirral is home to more than 750 scientists developing the latest household soaps, deodorants and washing powder. Today it is also hosting another important experiment – to see whether it and other factories can eventually run on low-carbon hydrogen to slash carbon emissions. The Anglo-Dutch consumer goods giant is among the further ahead of a growing number of major companies pledging to slash their greenhouse gas emissions amid pressure from consumers, politicians and investors. Globally, corporate pledges to cut emissions to net zero tripled last year to 1,541 – a massive undertaking which raises expectations about the private sector’s role in tackling global warming, but also scrutiny over whether targets will translate into action and emissions reductions. “There is a real head of steam around this now,” says Hugh Jones, managing director, advisory, at the Carbon Trust, which advises firms and governments on climate change. In a sign of the growing pressure, a recent survey by KPMG and Eversheds Sutherland found that 78pc of executives surveyed said that “managing climate-related risks will likely or highly likely be an important factor in keeping their job over the next five years.” In a foreword to that survey, Dr Mark Carney, the former governor of the Bank of England and now UN Envoy for Climate Action and Finance, urged company boards to “have a robust conversation around the risks and opportunities that climate change poses to their business” and to act swiftly.
Telegraph 4th Jan 2021 read more »