Your Newsletter at a Glance
Note from the author:
An interesting couple of weeks for US climate leadership. In the first half of March, the Biden administration:
- unveiled an ambitious $50bln+ budget around climate change;
- launched a $6bln DOE program to drastically reduce emissions in the extremely difficult to reach industrial sector;
- offered $1.2bln for distressed nuclear power plants;
- approved a first tranche of $250mln in climate pollution reduction grants;
- and released a series of new environmental protections that effectively closed off 3 million acres of undisturbed Alaskan lands and U.S. Arctic waters from oil exploration.
On Monday, the administration also approved the new massive Willow oil project in Alaska. The UN, along with various environmental groups, have since criticized approval of the oil project.
Also, a historic ocean treaty protecting 30% of the seas (up from only 1.2%) was reached after a decade of negotiations. Scroll down for this and more of the biggest stories from March thus far.
Market Watch
- Among the most ambitious of Biden’s funding requests is the roughly $24 billion to help build communities’ resilience to climate-related disasters, including floods, wildfires, storms, extreme heat and drought. The funding comes after the country experienced a fivefold increase in the annual number of billion-dollar disasters over the past five years.
- Additionally, the President proposes nearly $1.8bln for USGS science in FY 2024. [USGS]
DOE launches $6B program to slash emissions from heavy industry [Canary Media]
- The Biden administration announced it will help fund projects to clean up the production of steel, cement, aluminum and other hard-to-decarbonize sectors. The Industrial Demonstrations Program will provide competitive grants to companies and research institutes that are developing first-of-a-kind technologies or launching early-stage, commercial-scale projects, the U.S. Department of Energy said.
Research
Japan can achieve 90% clean power share by 2035, US study finds [Reuters]
- A decline in the cost of solar, wind and battery storage means Japan can get 90% of its power from clean electricity by 2035, a study by the Lawrence Berkeley National Laboratory, backed by the U.S. energy department, showed.
EU Green Bond Standard: Provisional deal on landmark regulation agreed [Environmental Finance]
- Negotiators for the European Council and Parliament have secured a provisional deal on the landmark EU Green Bond Standard (EU GBS). The agreement was described as a "big step" towards finalising the first regulation for green bonds in the world and providing "very meaningful" incentives for improving disclosures.
Euro sustainable bond funds assets set $18bn record in 2022 [Environmental Finance]
- According to Environmental Finance research, assets held in actively managed Euro-denominated funds which invest the majority of their assets in labelled green, social, sustainability and sustainability-linked bonds reached €17.6 billion in 2022 – up 17% from the €15.2 billion recorded at the end of 2021.
Solar set to overtake other energy sources by 2027 [Financial Times]
[NbS] Market Watch
Enbridge commits $1 billion to Divert, turning food waste to energy [Reuters]
- Divert Inc, a U.S. company that converts rotting food into energy, said it has received a $1 billion commitment from Canadian pipeline operator Enbridge Inc (ENB.TO) to expand its facilities across North America.
Stafford Capital’s Forest Carbon Credit Fund Secures $242 Million [Carbon Credits]
- Stafford Carbon Offset Opportunity Fund raises $242 million in investor commitments from three UK local government pensions schemes (LGPS). These include the LGPS of Essex, Leicestershire and the City and County of Swansea. The latter is the new addition to its investor base.
[NbS] Research
Ocean treaty: Historic agreement reached after decade of talks [BBC]
- The High Seas Treaty aims to help place 30% (up from only 1.2%) of the seas into protected areas by 2030, to safeguard and recuperate marine nature. The negotiations had been held up for years over disagreements on funding and fishing rights. The last international agreement on ocean protection was signed 40 years ago in 1982 - the UN Convention on the Law of the Sea.
Climate agrifoodtech bucks global funding decline as sector brings in $29.6bn in 2022 [AFN]
- Funding to foodtech and agtech (agrifoodtech) startups reached $29.6 billion in 2022, down 44% year-over-year (YoY), according to a new report from food, agriculture, and climate-tech venture capital firm AgFunder, in collaboration with global ecosystem partner Temasek. But the sector posted gains in climate tech categories such as indoor agriculture, bioenergy & biomaterials and precision agriculture.
Individual Deals & Market Watch
- Investment in large-scale renewable energy and storage accelerated in the final three months of 2022, creating the largest quarterly investments for more than four years, but the pace remains inadequate, the Clean Energy Council says.
Queensland buys USD-3.3bn renewable power transmission link [Renewables Now]
- The Queensland government will take control of an AUD-5-billion (USD 3.34bn/EUR 3.13bn) transmission line project that should help integrate up to 6 GW of renewable energy capacity in the Aussie state, premier Annastacia Palaszczuk announced today.
India’s $3-billion green borrowing may add longer maturity debt [The Economic Times - India Times]
- India may sell as much as Rs 25,000 crore ($3 billion) of green bonds in the next fiscal year and plans to include longer maturity debt to the offering, according to people familiar with the matter.
- The IMF said in a statement its executive board had approved Jamaica's request for some $968 million under a Precautionary and Liquidity Line (PLL) deal and about $764 million under the newly created Resilience and Sustainability Facility (RSF).
French start-up Carbon picks site for $1.61bn PV gigafactory [Renewables Now]
- French industrial start-up Carbon has selected the commune of Fos-sur-Mer, on the perimeter of the Grand Port Maritime de Marseille (GPMM), as the location for its first photovoltaics (PV) gigafactory with an investment budget of EUR 1.5 billion (USD 1.61bn).
Japan Offers $1.6 Billion to Australia’s Coal-to-Hydrogen Plan [Bloomberg]
- Japan’s government will offer 220 billion yen ($1.6 billion) from a green innovation fund to accelerate efforts in Australia to produce hydrogen for export from coal and biomass.
TAQA to invest USD 1.6bn in renewables in Morocco [Renewables Now]
- The Moroccan subsidiary of Abu Dhabi National Energy Company (TAQA) is planning to invest USD 1.6 billion (EUR 1.5bn) in renewable energy projects in the North African country by the end of this decade, its chairman Abdul Majeed Eraqi said as cited by local media.
French start-up Carbon picks site for EUR-1.5bn PV gigafactory [Renewables Now]
- French industrial start-up Carbon has selected the commune of Fos-sur-Mer, on the perimeter of the Grand Port Maritime de Marseille (GPMM), as the location for its first photovoltaics (PV) gigafactory with an investment budget of EUR 1.5 billion (USD 1.61bn).
Enel to shed Romanian business to Greece's PPC for $1.33bn [Renewables Now]
- Italian energy major Enel SpA (BIT:ENEL) has clinched a deal to offload its Romanian assets to Greek power utility PPC SA (ATH:PPC) for EUR 1.26 billion (USD 1.33bn) amid a wider plan to reposition itself on high-growth markets.
Rivian plans to sell $1.3 bln in green bonds to shore up capital [Nasdaq]
- Rivian Automotive RIVN.O plans to sell green bonds worth $1.3 billion, it said, as weakening demand and lofty costs tighten a cash crunch around electrical vehicle makers.
Biden admin offers $1.2 bln for distressed, shut nuclear plants [Reuters]
- The Biden administration said it is offering $1.2 billion in aid to extend the life of distressed nuclear power plants which, for the first time, could offer funding to a plant that has recently closed.
Namibia $1.07B Hydrogen Fund To Start Operations By July 2023 [Carbon Herald]
- Namibia is moving towards accelerating the energy transition via green hydrogen development. The country’s SDG Namibia One Fund – a €1 billion clean energy fund will start advancing grants for project preparation by July 2023, a senior official revealed at the ongoing Africa Energy Indaba summit.
Octopus earmarks $1.07bn for French green projects [Renewables Now]
- British energy retailer Octopus Energy intends to launch a new European tech hub in Paris as part of a broader initiative to invest some EUR 1 billion (USD 1.07bn) in green energy projects in France.
Germany's AE Solar to build $1.06bn PV panel factory in Romania [Renewables Now]
- German solar panel maker AE Solar intends to pour roughly EUR 1 billion (USD 1.06bn) into the construction of a new production base in Romania with a total capacity of up to 10 GW.
- Canada-based delivery and logistics firm Purolator Inc, largely owned by Canada Post, said it plans to invest about C$1 billion ($727.17 million) to electrify its fleet as the company looks to reduce its greenhouse gas emissions by 2030.
- Air Products intends to use the net proceeds from the notes offerings to finance or refinance, in whole or in part, one or more Eligible Projects (as defined in the applicable prospectus supplement), including: expenditures and investments related to pollution prevention and control–green and blue hydrogen and green and blue ammonia; expenditures in renewable energy; and expenditures and investments related to sustainable aviation fuel.
Autoliv prices EUR 500 million green bond issue [Cision]
- The Notes are due to be issued on March 15 and will carry a coupon of 4.25%. The Notes are expected to be admitted to trading on the Global Exchange Market (GEM) of the Irish Stock Exchange (Euronext Dublin) upon issue. Standard & Poor's has assigned the Notes a rating of BBB.
Washington raises $300M in its first auction for carbon pollution permits [Geek Wire]
- The results are in for Washington’s first auction of carbon pollution permits. The cap-and-invest program brought in $300 million from many of the state's biggest emitters, including fossil fuel refineries and energy utilities. The program’s goal is to drive down climate-harming emissions by putting a price on pollution and investing the proceeds into low-carbon technologies.
- The Biden-Harris Administration is making $250 million available to develop innovative strategies to cut climate pollution and build clean energy economies. These planning grants, through the U.S. Environmental Protection Agency (EPA), are the first tranche of funding going to states, local governments, Tribes, and territories from the $5 billion Climate Pollution Reduction Grants (CPRG) program created by President Biden’s Inflation Reduction Act.
- Everfuel A/S, a leading European green hydrogen energy company, and Hy24, managing the world’s largest clean hydrogen infrastructure fund, are pleased to announce the creation of a joint venture (the “JV”) to finance the accelerated development of electrolyser capacity across the Nordics. Everfuel will own 51% of the JV and the Hy24-managed Clean H2 Infra Fund will own 49%.
Mirova raises $171m at first closing of Gigaton Fund 1 [Real Asssets IP&E]
- Mirova, the affiliate of Natixis Investment Managers dedicated to sustainable investment, raised $171m (€160m) in the first closing of a blended finance debt fund that aims to accelerate the clean-energy transition in emerging markets.
End-to-end solar platform operator Palmetto raises USD 150m from TPG [Renewables Now]
- Palmetto Solar LLC, the operator of an end-to-end digital platform for residential solar and storage solutions, has raised USD 150 million (EUR 140.7m) from TPG Rise Climate.
- BlocPower announced a successful fundraising round of $150 million, which includes over $24 million of Series B corporate equity led by VoLo Earth Ventures and $130 million of debt financing led by Goldman Sachs. Other investors who joined the equity round include Microsoft Climate Innovation Fund, Credit Suisse, Builders Vision, New York State Ventures, Unreasonable Collective, Kimbal and Christiana Musk, Gaingels, Van Jones, Kapor Capital, My Climate Journey, Tale Venture Partners, and NBA superstar and entrepreneur Russell Westbrook.
- Silfab Solar Inc., a North American leader in photo-voltaic (PV) module manufacturing, announced a second investment round led by ARC Financial Corp. (“ARC”) to help fund Silfab’s next expansion of made-in-America manufacturing to include domestic PV cell and module production at a third facility to open in the United States.
Research, Frameworks, & Case Studies
Sustainalytics launches 'low carbon transition ratings' [Environmental Finance]
- The framework measures the degree to which a company's projected greenhouse gas (GHG) emissions differ from a net-zero pathway between now and the year 2050, and also incorporates the expected impact of management actions, according to Sustainalytics' website.
Big polluters set out £30bn plan to cut emissions [BBC]
- The South Wales Industrial Cluster (Swic) claims the plan will safeguard more than 100,000 jobs, but will require £30bn of investment. It is the result of a two-year, £40m collaborative project. South Wales is currently the second-biggest polluting region in the UK due to its heavy industry. The group, made up of steelworks, oil refineries, chemical plants, ports, universities and local authorities in the region, said a greener electricity grid and hydrogen and carbon capture infrastructure was urgently needed.
- The United States will likely need 47,300 GW-miles of new transmission by 2035, a 57% increase compared to today’s transmission system under a moderate load growth-high clean energy growth scenario, according to a Department of Energy draft report.
UK to spend £20 billion on carbon capture in clean energy push [The Business Times]
- CHANCELLOR of the Exchequer Jeremy Hunt will announce £20 billion (S$32.5 billion) for domestic carbon capture projects over the next 20 years in his budget next week, as the UK seeks to hit its net-zero targets and spur green jobs.
$475M Invested in Next-Gen Materials in 2022, Leather Alternatives Dominating Sector [Vegconomist]
- The Material Innovation Initiative has published its third State of the Industry Report for the next-gen materials sector. The report notes that $3 billion has been invested into next-gen materials since 2013, with $457 million raised in 2022 alone.
Yellen warns climate change could trigger asset value losses, harming US economy [Reuters]
- Yellen will tell a new advisory board of academics, private sector experts and non-profits there has been a five-fold increase in the annual number of billion-dollar disasters over the past five years, compared to the 1980s, even after taking into account inflation.
Malaysia needs to invest $375 bln in renewables to reach 2050 climate goals - report [Reuters]
- Malaysia will need to double its investments in renewable energy transition to at least $375 billion in order to achieve its ambitious goal of carbon neutrality by 2050, the International Renewable Energy Agency (IRENA) said.
PKN Orlen to invest EUR 15bn in renewable energy by 2030 [Renewables Now]
- Polish oil and gas major PKN Orlen (WSE:PKN) has earmarked PLN 70 billion (USD 15.8bn/EUR 14.8bn) for developing renewable energy sources under its updated strategy for the 2023-2030 period, the company said.
- The Aspen Network of Development Entrepreneurs (ANDE) released a new research study, with support from the IKEA Foundation, showing green entrepreneurship in Kenya across nine sectors offers a US $122.7 billion market opportunity for small businesses. Sectors covered include energy efficiency & storage, renewable energy, cleaner fuels, sustainable agriculture and aquaculture, sustainable forestry, ecotourism, sustainable transportation, water management, waste management and circular economy, green buildings, and disaster management.
Nature-based Solutions
[NbS] Individual Deals & Market Watch
- China Development Bank, one of the country’s policy banks, on Wednesday issued $2.16 billion (15 billion yuan) worth of green bonds to global investors. The bond issue is to support the ecological protection of the Yangtze River, Xinhua News Agency reported.
Inflation Reduction Act invests $120M in Climate Resilience [Mirage News]
- The Department of the Interior announced a more than $120 million investment from the Inflation Reduction Act to rebuild and restore units of the National Wildlife Refuge System and partnering State Wildlife Management Areas that have been affected by adverse weather events. The investment prioritizes projects that promote coastal resilience and climate adaptation, address invasive species threats, and provide for additional data collection needed to support successful natural resource resilience.
- The more than $120 million investment to rebuild and restore portions of the National Wildlife Refuge System that have been affected by adverse weather events includes a $27.25 million investment for the Albemarle-Pamlico Sound region. [Island Free Press]
- The Commission announced an investment of over €116 million for the new LIFE Programme's Strategic Projects. The funding will help eight major projects in Belgium, Estonia, Spain, Italy, Poland, Slovakia and Finland reach their climate and environmental targets. The projects are expected to mobilise significant additional funds from other EU funding sources, including agricultural, structural, regional and research funds, in addition to national funds and private sector investment.
France’s Macron pledges $106 mln to protect tropical forests [Alarabiya News]
- France will contribute to an “action plan” for preserving the world’s tropical forests with an additional 100 million euros ($106 million) to protect the vital resource, President Emmanuel Macron said during a trip to Africa.
US financier offers $100 mln worth of offsets on Canadian fintech platform [Carbon Pulse]
- Carbon Market Exchange, Ltd. (CMX) announces a Reg D and Reg S offering of $100M in carbon offsets powered by the Toronto-based DealMaker platform. CMX is the world leader in uniting climate action and the financial services industry, and it has revolutionized global conservation through market-based climate solutions. [ABC27]
Nuveen Holds 80% of Rare Blue Bond ($60mln) Linked to Debt-Swap Deal [Yahoo News]
- The investment firm, which is a unit of TIAA, has taken on an anchor role in the transaction, investing almost $60 million in the bond, it said
- The California Department of Fish and Wildlife (CDFW) announced the award of $22.5 million to 19 projects to support the restoration of critical habitat for salmon, climate resiliency, wildlife corridors and wetlands restoration.
Hectare nets $20m Series A to advance sustainable ag supply chains [AFN]
- Hectare, a Software-as-a-Service (SaaS) platform offering crop and livestock farmers insights on trading, inventory and logistics, has secured $20 million in Series A funding. The UK-based company will use the funding to boost product development and expand into new international markets.
THIS Raises $18.2M in Series B Funding, Plans International Expansion [Vegconomist]
- UK alt meat brand THIS has secured £15 million in a Series B round, as it reveals that an international expansion may be on the cards.
Soil carbon credit platform receives $16 mln from French hedge fund [Carbon Pulse]
- Hedonova, a Paris-based hedge fund, has announced its equity investment of $16 million in Carbonomy's Series A funding round at a valuation of $130 million. Carbonomy is a firm that helps farms become sustainable and increase their revenues by earning carbon credits. [Yahoo Finance - Cision]
- Global animal health company renews co-funding with the Bill & Melinda Gates Foundation to advance the health and productivity of dairy, beef, poultry and fish producers in seven new countries in Sub-Saharan Africa
$15 million now available for Klamath Basin restoration projects [KTVL]
- Oregon's U.S. Senators Jeff Merkley and Ron Wyden announced the U.S. Fish and Wildlife Service released another $15 million for restoration activities in the Klamath Basin.
Chromologics Raises $13.5M for Fungus Alternative to Carmine and Red 40 Food Colorings [Vegconomist]
- Chromologics, a Danish biotech company developing fungal fermentation solutions for natural pigments, has raised €12.6 million in a seed round to commercialize its red food color alternative produced by a non-GMO fungus.
Highlands Rewilding raises $12.8m to restore 3,500-acre estate [Business Green]
- Solar entrepreneur Jeremy Leggett announces major investment milestone for latest project that will restore large tracts of land in Scotland to provide nature-based carbon credits
- The Biden-Harris Administration announced more than $12 million from President Biden’s Bipartisan Infrastructure Law will be invested in fiscal year 2023 to complete projects in support of the Tribal Forest Protection Act (TFPA). Projects have been selected to support a range of activities focused on forest and grassland restoration. Work will include vegetation management, hazardous fuels risk reduction, and cultural and ethnobotanical surveys on indigenous landscapes.
Futura Gaïa raises $11.8 million to reach industrial scale [Vertical Farm Daily]
- Futura Gaïa has just raised €11 million in a second funding round to reinforce agronomical and technological R&D capacities along with the installation of a first vertical farm at an industrial scale. To face the accelerating impacts of climate change and water scarcity, Futura Gaïa wishes to contribute to improving the territories' food sovereignty while involving all local actors.
$11 million to restore the Upper Des Plaines River watershed ecosystem [WGNTV]
- The U.S. Army Corps of Engineers has a new project in Lake County following an $11 million earmark. Construction will begin soon on a “combined flood protection and ecosystem restoration project for the Upper Des Plaines River watershed,” according to a release from U.S. Senator Dick Durbin’s office.
Healthy Ramen Brand immi Closes $10M Series A to Scale Up Plant-Based Instant Ramen [Vegconomist]
- Plant-based instant ramen brand immi announces it has closed $10M in Series A funding to help brings its healthy, low-carb and high-protein ramen to mainstream markets. The round was backed by a powerful group of celebrities, including Naomi Osaka, Usher and Apollo Ohno.
- Wide Open Agriculture (WOA), Australia’s leading ASX-listed regenerative food and agriculture company, announced it has secured up to A$12 million (US$8 million) in debt facilities with National Australia Bank (NAB) to support the company’s growth in manufacturing plant-based beverages.
- Phase two of SOAR significantly builds upon the initial $5 million phase one investment through a $3 million grant from the National Fish and Wildlife Foundation’s National Coastal Resilience Fund and an additional $3.3 million from Builders Initiative, the philanthropic team of Builders Vision.
It's time for alt chocolate: London's WNWN picks up $5.6 million [Tech.Eu]
- With dairy and meat alternatives increasingly embraced by consumers, London's WNWN is trying to carve out a niche in cocoa-free "alt chocolate" by using legumes, cereals and other plant-based ingredients to emulate chocolate's rich taste.
- The standard will certify ecosystem restoration projects in the voluntary carbon markets.
Minderoo Foundation invests USD $5 Million in innovative Global Coral Reefs Fund [Cision]
- Pegasus announces Minderoo Foundation invests USD $5 million into the Global Coral Reefs Fund, growing the initiative for investing in climate adaptation and oceans to over USD $200 million
MeatAfora Secures $5M for Cultivated Meat Process Involving Vegetable Fat [Vegconomist]
- Israeli cultivated meat company MeatAfora has announced a $5 million raise fund led by the New Gate Capital fund and the participation of a private investor. The funds will inject the company’s R&D with new capital to upscale its platform, which is capable of producing nutritional, low-cost cultivated meat.
- TNC will receive a four-year, $4 million revolving fund designed to enable large-scale protection of critical ecosystems such as the Kittatinny Ridge, the Allegheny Front and the Canaan Valley. Protecting nature within these places will help achieve TNC’s goals of improving water quality, preserving biodiversity, restoring forests and building climate resiliency.
US developer of nature-based offsets raises $3.2 mln for global expansion [Carbon Pulse]
- RenewWest, an environmental asset developer, announced its $3.2 million seed financing round, which was led by Aspiration and One Small Planet. Other participating investors include Clear Sky Advisors, a subsidiary of Concord Ltd. RenewWest will use the funding to expand its technical team, grow the project pipeline, and invest directly with land stewards around the world. [Cision]
SG-based Web3 carbon credit firm secures $3m [Tech In Asia]
- The GrowHub is a Web3 platform focused on food traceability and carbon credits. The company is headquartered in Singapore.
Malaysia to inject over $2 mln to kickstart carbon market, PM says [Carbon Pulse]
Axa IM natural capital fund invests $2m in nature tech firm [Environmental Finance]
- Axa Investment Managers Alts has invested €2 million ($2 million) in nature measuring firm Chloris Geospatial via one of its natural capital funds. Axa contributed to a $3.5 million fundraising round at Chloris Geospatial alongside Venture capital firms At One Ventures and Counteract.
Amsterdam’s Agurotech bags $1.6M to fuel data-driven arable farming [Silicon Canals]
- Agurotech, which specialises in data-driven arable farming, says it will use the funds to take the next step in making the global food system more sustainable.
Daisy Lab Closes a $1.5 Million Seed Round to Redirect Dairy-Dependent New Zealand [Green Queen]
- The New Zealand-based women-led precision fermentation start-up, Daisy Lab, has successfully closed an oversubscribed Seed funding round.
[NbS] Research, Frameworks, & Case Studies
CDC Biodiversité to add three sectors to biodiversity footprint tool [Environmental Finance]
- CDC is planning to expand its biodiversity footprinting tool to enable simplified assessments of three sectors in more detail, as asset managers trial the methodology with private portfolio companies.
Facing Intense Heat and Dust Storms, Iraq Aims to Plant 5 Million Trees [Yale Environment 360]
- Iraqi Prime Minister Mohammed Shia al-Sudani has announced plans to plant 5 million trees to help the country cope with climate change. Speaking at the Iraq Climate Conference in Basra, al-Sudani said that, with climate change, his country is seeing extreme heat, meager rainfall, and worsening dust storms.
Climate agrifoodtech bucks global funding decline as sector brings in $29.6bn in 2022 [AFN]
- Funding to foodtech and agtech (agrifoodtech) startups reached $29.6 billion in 2022, down 44% year-over-year (YoY), according to a new report from food, agriculture, and climate-tech venture capital firm AgFunder, in collaboration with global ecosystem partner Temasek. But the sector posted gains in climate tech categories such as indoor agriculture, bioenergy & biomaterials and precision agriculture.
Congress Urged to Spend $841 Million to Fully Fund Endangered Species Protection [Defenders.org]
- More than 120 conservation groups, including Defenders of Wildlife, urged Congress to significantly increase the U.S. Fish and Wildlife Service’s (FWS) budget for endangered species conservation from $331 million to $841 million.
AIGCC launches forestry and energy transition working groups [Environmental Finance]
- The AIGCC will help its members develop risk management processes, investment policies and engagement programmes that will help end deforestation, it said. It also aims to improve integration of deforestation into portfolio analysis and client engagement.
- The roadmap is an important guide for transformative action in aquaculture value chains and the sector overall.
Ocean conference participants pledge $19 billion [Yahoo]
- At the 2023 Our Ocean Conference in Panama, the U.S. delegation, headed by Special Presidential Envoy for Climate John Kerry, worked with allies and partners to tackle the climate crisis, combat marine pollution, support sustainable fisheries, establish effective marine protected areas, promote a sustainable blue economy, and advance maritime security.
- The United States made 19 announcements of international support totaling USD 58 million under the climate change area of action.
- A national programme has been approved to develop effective and sustainable aquaculture while proactively adapting to climate change. Under the programme, which was approved by Prime Minister, Phạm Minh Chính, and runs until 2030, Vietnam aims to improve productivity, quality, value and competitiveness of aquatic products and meet the requirements of domestic and export markets.
Vietnam to develop 1 million ha of low-emission high-quality rice by 2030: draft [Vietnam Net]
- The Ministry of Agriculture and Rural Development is about to complete a draft of the project to develop 1 million ha of low-emission high-quality rice in Vietnam, according to Deputy Minister Tran Thanh Nam.
Supporting NOAA’s draft National Seafood Strategy [The Fish Site]
- Industry coalition Stronger America Through Seafood (SATS) has submitted a letter to NOAA Fisheries in support of the agency’s draft National Seafood Strategy during the current public comment period. The National Seafood Strategy outlines the agency’s plans for supporting a thriving domestic US seafood economy, including through increased sustainable US aquaculture, to enhance the resilience of the seafood sector in the face of climate change and other challenges.
NTT DATA Joins the TNFD (Taskforce on Nature-related Financial Disclosures) Forum [NTT Data]
- NTT DATA, a global digital business and IT services leader, announced that it has joined the TNFD Forum in February 2023. The TNFD (Taskforce on Nature-related Financial Disclosures) is an international initiative to develop a framework for assessment and disclosure of nature-related risks and opportunities in order to achieve prosperity for both nature and human beings.
- NatureScot, Scotland’s nature agency, is partnering in a private finance investment pilot that could mobilise £2 billion in landscape scale restoration of native woodland, create new jobs and support rural communities across all parts of Scotland.
- This new partnership between Alcoa Foundation and IUCN is a crucial step towards developing practical approaches for biodiversity offsets and has the potential to promote responsible practices in the mining sector and inspire confidence in the benefits of restoration projects for the hosting communities and the environment.
WEF Launches Roadmap to Boost Sustainable Aquaculture Growth [Mirage News]
- The World Economic Forum’s Blue Food Partnership has launched a roadmap to increase social, economic and environmental benefits in aquaculture.
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