The $10 Trillion Opportunity | 1/1 - 1/15
[NEW] The Nature-based Solutions Market
Starting in 2023 Capital for Climate will be providing an in-depth, bi-monthly, look into all things NbS.
Our detailed review of individual deals, macro commitments, research, and global frameworks surrounding NbS investment can be found towards the end of the newsletter.
The Nature Tech Market. Necessary, Emergent, Dynamic
Capital for Climate, along with its partner, Nature4Climate, released a new report, "The Nature Tech Market: Necessary, Emergent, Dynamic”.
A first-of-its-kind landscape analysis of the nature tech market, this report illuminates a burgeoning sector that will help protect, manage, and restore nature.
Click below for the report!
Report: The Nature Tech Market. Necessary, Emergent, Dynamic
Individual Deals and Market Watch
Germany raises record EUR 13bn through carbon pricing [Montel News]
- Germany generated EUR 6.8bn with primary market auctions on the EU ETS, up 28% on its previous record intake in 2021 due to the rising cost of emissions allowances. EUAs averaged a price of EUR 80.32/t last year, compared to EUR 52.50/t in 2021, the UBA said.
Hong Kong to raise up to $5 bln in green bonds [Reuters]
- Hong Kong aims to raise up to the equivalent of $5 billion in a dollar, euro and offshore Chinese yuan green bond issuance, sources with direct knowledge of the matter said.
NTMA to sell €3bn of green bonds in early test of debt markets [The Irish Times]
- The National Treasury Management Agency (NTMA) has hired a group of investment banks and securities firms to sell as much as €3 billion of green bonds, continuing a decade-long trend of the Irish State being among the first sovereigns to dip its toes into the international debt markets at the start of the year.
Energy firm ENGIE raises €2.75 billion through green bonds [Mercom India]
Israel raises $2 billion in its first-ever issuance of 10-year green bonds [Times of Israel]
- Israel has completed its first sale of dollar-denominated 10-year green bonds, raising a total of $2 billion through an international debt offering as the government sets out to meet its goal of a zero-emissions economy by 2050.
Amundi and Reichmuth support €1.7bn solar fund [Environmental Finance]
- Alantra has launched a solar investment portfolio, supported by Swiss infrastructure asset manager Reichmuth and French asset manager Amundi.
Lula revives $1 billion Amazon Fund and environmental protections [Climate Home News]
- In his first day in office, Brazil’s new president, Lula da Silva, signed a package of seven executive orders aimed at controlling deforestation in the Amazon and re-building the country’s environmental institutions.
Denham sells $1bn Asian renewable energy assets [Environmental Finance]
- Denham Capital has sold its share of Nexif Energy’s Australian and southeast Asian energy assets to RATCH Group, a Thailand-based power producer.
Renewables impact fund Klimavest hits €1bn [Environmental Finance]
- Commerz Real’s investment fund currently invests in 33 operational wind farms and solar parks and 10 solar park project developments in Germany, France, Spain, Finland and Sweden.
Spain to award EUR 390m in state aid for storage, marine renewables [Renewables Now]
- The Spanish ministry for the ecological transition launched two state aid programmes to award a total of EUR 390 million (USD 416m) in grants to energy storage projects and marine energy platforms and solutions.
Solar power systems provider Enpal charges ahead with another €215 million [tech.eu]
- Berlin-based photovoltaic systems provider Enpal has raised €215 million in a Series D funding round. The announcement arrives in less than one month since the company announced a hefty injection of €855 million in debt funding. In total, Enpal has now raised just shy of €2 billion in equity and debt funding since 2017.
CPP Investments invests US$200 million in Redaptive [Cision]
- Canada Pension Plan Investment Board (CPP Investments) announced that it has invested approximately US$200 million in Redaptive, a leading Energy-as-a-Service provider. Redaptive funds and installs energy-saving and energy-generating equipment to help organizations reduce energy waste, save money, lower their carbon emissions, and meet their sustainability goals.
- The new investment from EQT Infrastructure will support the expansion of an existing lithium-ion facility in Lancaster, Ohio that should generate enough recycled battery material to power 200,000 EVs annually when complete.
Xpansiv gets $US125m at $2b valuation [AFR]
- Carbon trading infrastructure business Xpansiv has reeled in Bank of America and Goldman Sachs as debut investors alongside top-ups from Aware Super and others, as it rules off a $US125 million ($181 million) equity raising.
Climate tech startup Arcadia raises $125 million in funding [Cooley]
- Cooley advised Arcadia, a technology company empowering energy innovators to fight the climate crisis, on its $125 million in new funding.
Enefit Green signs loan agreements of €100 million with SEB and Swedbank [Solar Quarter]
- According to Veiko Räim, Member of the Management Board and CFO of Enefit Green, the refinancing of loans allows Enefit Green to continue on the course of rapid growth. “Continued good cooperation with the region’s leading banks supports our long-term strategic investments in carbon-neutral electricity production.
World Bank approves US$100 million for Barbados’ green and resilient recovery [BNAmericas]
- The World Bank approved yesterday $100 million in financing to support Barbados’ low carbon economic development and resilience to climate change.
Macro Commitments
PNC increases its environmental finance commitment to $30 billion [Environmental Leader]
- PNC Financial Services Group, Inc. has increased its environmental finance commitment to $30 billion, an increase of $10 billion since its announcement in August of 2021.
New €4 billion ‘green’ steel plant planned in Finland [Carbon Pulse]
- Norway-based Blastr Green Steel unveiled a plan to invest EUR 4 billion (USD 4.2bn) in the production of green steel at a new renewable hydrogen-powered factory in Finland. [Renewables Now]
Qcells to invest $2.5B in building out US solar supply chain [Canary Media]
- Inflation Reduction Act tax credits spur Qcells to make a major investment in Georgia solar factories and to expand its U.S. polysilicon supply.
India approves $2.4-bln hydrogen plan [Carbon Pulse]
EMA to issue bonds as part of $2b programme to finance green energy transition [The Straits Times]
- To finance the Republic’s green energy transition and ensure the stability of the electricity market, the Energy Market Authority (EMA) is looking to launch green, sustainable and transition bonds as part of a $2 billion multi-currency medium-term note programme, The Straits Times has learnt.
Goldman Sachs raises $1.6 bln private capital for climate fund [Reuters]
- Goldman Sachs Asset Management, the fund arm of Goldman Sachs (GS.N), said it has raised $1.6 billion for its first private equity fund focused on investing in companies providing climate and environmental solutions.
- The European Commission has approved, under EU State aid rules, a €1.1 billion Danish scheme to support the roll-out of carbon capture and storage (‘CCS') technologies. The measure contributes to the achievement of Denmark's climate targets and the EU's strategic objectives under the European Green Deal, in particular the 2050 climate neutrality goal.
New York to cap-and-invest $1B carbon credits from big polluters [CarbonCredits.com]
- New York State Gov. Kathy Hochul revealed a first-in-the-nation carbon credits program that put an economy-wide price on pollution to ditch fossil fuels and reduce GHG emissions.
- The funding will help the country firmly advance in the transition towards a climate-neutral economy in a fair way.
Silicon Ranch raising USD 600m to fund growth [Renewables Now]
- Renewables and battery storage developer Silicon Ranch Corporation said today it is raising USD 600 million (EUR 566m) in equity to continue the execution of its business plan.
World Bank, Banco do Brasil launch $500m sustainability-linked loan project [Environmental Finance]
- The package includes a $400 million credit line to Banco do Brasil which will be used by the bank to originate sustainability-linked loans with "credible" greenhouse gas (GHG) emission reduction plans. The lending will focus on small- and medium-sized businesses in the country, and will also provide access to carbon markets for these firms.
Pathways, Frameworks, Case Studies, Research, Climate Science
A net-zero world could generate $10.3 trillion by 2050, new report finds [yahoo]
- A study from Oxford Economics and Arup estimated that green industries could add $10.3 trillion to the world's economy — or 5.2% of global GDP — by 2050 under a net-zero scenario.
Global plant-based beverages market report 2022 to 2028 – ResearchAndMarkets.com [Vegconomist]
- The Global Plant-based Beverages Market size is expected to reach $48.8 billion by 2028, rising at a market growth of 11.2% CAGR during the forecast period.
[NEW] The Nature-based Solutions Market
Individual Deals and Commitments
- Anew Climate, a leading climate solutions company, has committed up to $640 million to Terra Global Capital, a woman-led global leader in developing and financing nature-based climate solutions to produce positive social and environmental impacts.
30% of Barbados' seas to be protected under "Blue Bond" funding [Warp News]
- The island nation of Barbados is to receive 50 million dollars in funding for conservation of its entire marine ecosystem as a part of a debt-for-nature refinancing program.
EIB invests $50 million to develop RE:Ocean’s land-based ocean [Global Ag Investing]
- In an effort to shift toward greater domestic production, this investment, which is among the largest ever made in innovative and sustainable food production in the country, will support Sweden’s bio-economy by sustainably producing fish in what RE:OCEAN is calling a land-based ocean.
No Meat Factory secures $42 million Series B funding [Business Wire]
- No Meat Factory, a leading plant-based alternative protein manufacturer, announced it has closed a Series B funding round totaling $42 million USD. New investor Tengelmann Growth Partners led the round, with participation from existing investor Emil Capital Partners (ECP) who initially invested during company formation in 2019.
Solar Foods receives €34 million in grant [H2 Bulletin]
- Agronomics’ Finnish portfolio company Solar Foods Oy, “Solar Foods”, focused on commercialising its Solein protein made from air, has received a €34 million grant to support the build of its first fermentation facility and start preparations for their full-scale facility.
Liberation Labs closes on impressive $20 million in seed funding [Global Ag Investing]
- Liberation Labs, a developer of a precision fermentation platform for the production of alternative proteins at scale, has just announced a close on $20 million in Seed funding co-led by Agronomics and Siddhi Capital. Joining the round was CPT Capital, Thia Ventures, 8090 Industries, and Echo.
Arkeon Biotechnologies secures over €10M to Convert CO2 Into Food [Vegconomist]
- Vienna’s Arkeon Biotechnologies, a startup converting CO2 into functional, carbon-negative ingredients for food; raised seed funding of €6.5 million last March and now announces it has secured another four million euros.
- ReelData intends to use the funding to develop a precise and autonomous operating system to unlock the future of land-based aquaculture and the sustainability advancements it promises, it said.
Terramera spinout enrichAg officially launches with $6m from At One Ventures [AFN]
- Canadian crop protection startup Terramera has launched a new subsidiary, enrichAg, which uses novel sensing technology to make soil analysis faster and easier for farmers.
- Funding will further develop the capacity for Agrology’s MRV platform to quantify climate-smart practices in specialty crops and advance greenhouse gas monitoring capabilities for all growers
Open Forest Protocol Secures $4.1M Pre-seed Funding [AlexaBlockchain]
- Open Forest Protocol is an open forest measurement, reporting and verification platform built on a carbon neutral blockchain.
Project Eaden’s fiber technology poised to spin threads into whole cuts of ‘meat’ [Tech Crunch]
- Project Eaden, a Berlin-based food technology company, believes it has cracked the code for producing whole cuts of plant-based meat alternatives using a proprietary fiber spinning technology. Investors think so too, adding €2.1 million (about $2.3 million) of additional funding to a previous seed round.
Bio-degradable food container startup Alterpacks raises US$1M funding [E27]
- Alterpacks was founded in 2019 to combat the problem of single-use plastics. Alterpacks converts food grains into containers that can be moulded into any shape. This way, it upcycles food loss in manufacturing to create a biodegradable and home-compostable material to replace plastic food containers.
Rhode Island to lead a $1 million aqua industry overhaul [The Fish Site]
- The new Partnership for Research Excellence in Sustainable Seafood (PRESS) is a $1 million, four-year effort, established through the National Oceanic and Atmospheric Administration, and made possible through federal funding secured by US Senator Jack Reed.
Projects, Frameworks, and Fund Announcements
EU opens funding call for biodiversity projects [Carbon Pulse]
- The European Commision has launched a call for innovative biodiversity projects to receive grants worth almost 200 million euros as part of a 2023 programme.
IDB picks four projects for digital biodiversity token initiative [Carbon Pulse]
- The IDB has picked four project proposals across LATAM & the Caribbean for an initiative seeking to find innovative ways to use digital assets to promote biodiversity conservation and climate change action.
Developer forecasts VER price inflation of up to 15% a year [Carbon Pulse]
Gresham House launches Irish forestry fund [Environmental Finance]
- Gresham House, an asset manager specialising in reforestation, has launched an Irish forestry fund with a €25 million ($26 million) commitment from Ireland’s sovereign development fund, the Ireland Strategic Investment Fund (ISIF).
Indonesia validates first REDD+ project under new carbon trading regulation [Carbon Pulse]
- On December 28, 2022, Carbon Streaming’s partner and Rimba Raya project operator InfiniteEARTH Ltd. (“InfiniteEARTH”) issued a press release announcing the validation of Rimba Raya under the new Indonesian carbon regulation, Regulation No. 21 of 2022 (“Reg 21”) and with the carbon registry, Sistem Registri Nasional Pengendalian Perubahan Iklim (“SRN”). Under Reg 21, all carbon projects in Indonesia must be registered, validated and verified on the SRN carbon registry. [Business Wire]
- The law making its way through the European Parliament aims to ease the accelerating extinction crisis and slow climate change, but has a long road to passage and some formidable adversaries.
- The nonbinding agreement nods to a growing understanding that future conservation efforts must promote the well-being of Indigenous peoples—and that forests, mountains and rivers have rights of their own.
Livestock monitoring solution market to witness revolutionary growth by 2027 [Digital Journal]
- Advance Market Analytics published a new research publication on “Global Livestock Monitoring Solution Market Insights, to 2027” with 232 pages and enriched with self-explained Tables and charts in presentable format. The growth of the Livestock Monitoring Solution market was mainly driven by the increasing R&D spending across the world.
- Field research limits the possibility of clarifying the current food waste situation in China. Material flow analysis was used to assess the magnitude and characteristics of waste in five stages from 2010–2019 by seven selected types.
Indonesian start-up to fund, advise Southeast Asian biodiversity efforts [Carbon Pulse]
- An Indonesia-based investment firm that will help drive investments and provide strategic advice on early-stage nature-based businesses in Southeast Asia is having its soft launch this month.
Release of world’s first integrated climate and nature scenario to 2050 for investors [PRI]
- The Inevitable Policy Response (IPR) has launched FPS + Nature, (FPS+N) the first integrated nature and climate scenario published for use by investors. FPS+N incorporates interrelated climate and nature trends to IPR’s flagship 1.8C Forecast Policy Scenario to create a realistic assessment to help investors respond to the climate and nature emergency.
Regenerative Agriculture market booming at a CAGR of +14% by 2030 [Digital Journal]
- The global Regenerative Agriculture market is expected to grow at a CAGR of +14% in terms of revenue over the forecast period from 2023 to 2030, owing to a number of variables about which A2Z Market Research provides insights and projections in the global Regenerative Agriculture market research.
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