Martin Giles

Gravity, the San Francisco-based carbon accounting and energy management platform, has just raised a substantial $13 million in a Series A funding round, marking a significant milestone in its journey since its inception in 2022. The company is laser-focused on helping industrial businesses and their supply chain partners effectively manage their carbon footprints, a critical need as sustainability becomes a central concern for companies worldwide.

H2SITE, a Spanish startup specializing in hydrogen technology, has successfully secured €36 million (approximately $37.2 million) in a Series B funding round. This financial boost is set to propel the company toward its ambitious goal of scaling hydrogen production to multi-ton capacities per day by 2026. Founded in 2021, H2SITE has carved out a niche by tackling the hydrogen transport dilemma, leveraging its innovative solutions to convert hydrogen carriers with established supply chains. The company also specializes in separating hydrogen gas blends into fuel cell-grade purity, offering a suite of reactors and separators designed for various feedstocks.

A recent survey conducted by Deloitte reveals a significant disconnect between consumers' expectations and corporate actions regarding climate change and sustainability. Despite overwhelming evidence that climate change is affecting lives globally, many individuals believe their employers are falling short in addressing these pressing issues. The survey, which included over 20,000 participants from more than 20 countries, highlights a growing urgency among consumers to adapt their lifestyles in response to climate-related challenges.

As the corporate landscape grapples with the evolving dynamics of environmental, social, and governance (ESG) investments, companies find themselves at a pivotal juncture. The potential benefits of sustainable practices are crystal clear: enhanced brand reputation, mitigation of climate-related risks, and an increase in shareholder value. A recent survey revealed that 67% of firms have adopted sustainable product design strategies, leading to a reduction in carbon emissions. Furthermore, 84% of executives believe their organizations are on track to meet emissions targets. Yet, amid these promising statistics, a troubling trend emerges. Some global corporations are scaling back their sustainability goals, a move that raises eyebrows and questions about the commitment to long-term ecological stewardship.

The recent mass exodus of Canada's major banks from the Net-Zero Banking Alliance (NZBA) marks a significant shift in the financial landscape, echoing the earlier withdrawal of U.S. banks from the UN-backed coalition aimed at fostering global net-zero goals. Over just a few days, five of Canada's six largest banks—BMO, TD, CIBC, Scotiabank, and National Bank—have opted to leave the alliance, leaving RBC as the last major Canadian bank still affiliated with this climate-focused initiative. RBC's CEO, Dave McKay, has reassured stakeholders that their departure does not equate to a diminished commitment to achieving net-zero emissions.

Orennia, the Calgary-based energy transition data and analytics company, has successfully closed its Series C growth financing round, securing vital backing from industry heavyweights BlackRock and Temasek's Decarbonization Partners. This latest round follows a robust $25 million Series B financing that the company raised just a few months prior, in July 2023. With the global push for renewable energy solutions intensifying, Orennia's innovative approach to providing actionable insights for energy transition developers and investors has positioned it as a key player in this rapidly evolving sector.

Boeing is stepping up its commitment to sustainability by investing in Norsk e-Fuel, a company at the forefront of synthetic aviation fuel production. This strategic partnership marks a crucial development in the race to create a sustainable aviation fuel (SAF) ecosystem, particularly as the aviation industry grapples with growing pressure to reduce its carbon footprint.

The current surge in European gas prices is a stark reminder of the region's precarious energy landscape. As inventories dwindle faster than anticipated, driven by a trifecta of colder weather, reduced renewable energy output, and the cessation of Russian gas transit through Ukraine, Europe finds itself at a critical juncture. The Dutch TTF, which serves as the benchmark for European natural gas contracts, recently topped 50 EUR/MWh, marking a staggering 50% increase year-on-year and the highest level since October 2023.

In a significant move towards combating climate change, Microsoft has deepened its partnership with the Brazilian startup re.green, focusing on ambitious forest restoration efforts. This new agreement, which marks the second collaboration between the two entities, aims to restore an impressive area of land in Brazil—three times larger than Paris—while also facilitating the purchase of carbon removal credits totalling 6.5 million tons.

Warning after warning, red flag after red flag, were ignored by senior managers at Guildford Borough Council allowing a £multi-million overspend and possible fradulent misuse of its Housing Revenue Account budget.