Will oil riches finance the clean-energy transition?

Climate Finance Saudi Aramco, the Saudi state oil company and the world’s largest company, is seeking $5 billion in renewable energy deals as part of its $50 billion commitment to get 30 percent of its power from renewable sources by 2030. That kind of mandate has banks like HSBC, JPMorgan Chase and Credit Suisse eager to

Fossil-fuel divestment is not just prudent asset-management. It’s the law.

Climate Finance The Ireland Strategic Investment Fund could soon be required to divest from fossil fuels. The Irish Parliament voted 90 to 53 to pass a bill requiring its public investment fund to divest its €8 billion ($8.6 billion) in coal, oil and gas investments over the next five years. The bill is likely to become

Institutional investors are demanding climate-risk disclosure

Climate Finance Big investors are flagging climate change as a threat to financial security. The latest: State Street, one of the largest asset managers in the U.S. with $2.47 trillion under management. State Street is sending a letter to companies it invests in asking them to disclose their preparedness strategies. The Boston-based firm has supported

Green Digital Finance Alliance aims to boost climate action

Climate Finance Yes, there’s an app for that. Ant Financial, the Chinese online-payments processor that spun off from Alibaba, launched the alliance with the UN’s Environment Program to drive digital technologies that support climate action. About 72 million people already use One, Ant’s smartphone app, that lets users create a carbon account and earn ‘green energy

Elon Musk takes the business case for a carbon tax to Trump

Climate Finance The CEO of electric car company Tesla is the latest to catch the president’s ear with the suggestion to put a price on carbon, floating the climate-friendly idea at meeting of business insiders at the White House. As CEO of ExxonMobil, Rex Tillerson, now Trump’s nominee for Secretary of State, also backed the idea,

European Investment Bank affirms its $100 billion climate commitment

Climate Finance The funding is particularly critical now that US participation and $2 billion pledge to the 2015 Paris climate agreement is likely to be scrapped by President Trump (Obama transferred a second $500 million installment three days before leaving office). The EIB financing, raised via green bonds, will be disbursed over the next five

More evidence of demand for off-grid solar products in Africa

Fenix International said it has doubled its customer base to 100,000 from 50,000 just 12 months ago. That’s about 17 percent of all solar users in Uganda, where 80 percent of the population lacks access to electricity. Pay-as-you-go solar products have exploded across Africa in recent years, as costs have fallen and mobile payments and other