Edition for 06 May 2020

Top Stories

Morgan Stanley Investment Management’s AIP Private Markets closes global climate impact fund (Private Equity Wire)

  • This globally diversified private markets offering was launched in a first of its kind collaboration with the US congregations of Dominican Sisters to find investment solutions which focus on climate change and aiding marginalised communities that are disproportionately impacted by global warming.
  • AIP Private Markets launched its impact investing platform in 2014 in partnership with the Morgan Stanley Institute for Sustainable Investing.
  • The globally diversified private markets platform seeks to drive positive social and environmental impact in sectors including mobility, energy, food and agriculture, resource efficiency and the circular economy.

‘Green recoveries’ can revive coronavirus-hit economies and tackle climate change, study says (Japan Times)

  • Massive programs of green public investment would be the most cost-effective way both to revive virus-hit economies and strike a decisive blow against climate change, top U.S. and British economists said in a study published on Tuesday.
  • With co-authors including Nobel laureate Joseph Stiglitz from Columbia University and prominent British climate expert Lord Nicholas Stern, the findings are likely to fuel calls for “green recoveries” gathering momentum around the world.
  • The results suggested that green projects such as boosting renewable energy or energy efficiency create more jobs, deliver higher short-term returns and lead to increased long-term cost savings relative to traditional stimulus measures.

Remote work is a huge opportunity for high-impact climate policy (Quartz)

  • The US government predicts a 7.5% reduction in energy-related carbon dioxide emissions, for example, as gasoline sales have crumbled by half despite record-low oil prices.
  • But once business returns to normal, lessons from the pandemic can help spur innovative policies to reduce transportation emissions.
  • No single activity contributes more greenhouse gas emissions than driving to and from work.

Utilities should charge electric delivery trucks as a new rate class, take other cost-cutting steps: Amazon-led alliance (Market Watch)

  • “Amazon’s order of 100,000 new electric delivery vehicles from Rivian, the largest order ever of electric delivery vehicles, will have a significant impact in reducing our carbon footprint and help us on our path to net-zero [emissions] by 2040,” said Ross Rachey, director, Global Fleet & Products, Amazon Logistics, in a release as part of the EV report.
  • EVs, although not without their own limitations, are often seen as key to reducing greenhouse gas emissions.
  • The Corporate Electric Vehicle Alliance, which was formed earlier this year with sustainable investing-advocate Ceres, based their report findings on a survey of firms with large transportation and logistics fleets.

Can Cities Fix a Post-Pandemic World Order? (Foreign Policy)

  • In normal times, the C40’s nearly 100 megacities are collectively focused on fighting the climate crisis and bending the curve of global greenhouse gas emissions, recognizing that cities consume over 67 percent of the world’s energy and emit 70 percent of its carbon dioxide emissions.
  • The members of the network are committed to peaking emissions by 2020—Los Angeles and some 30 other cities have already done so—and to halving emissions by 2030, with interventions in the urban sectors where emissions are highest: buildings, transport, waste, and energy.
  • By 2030, these commitments could deliver significant annual emissions reductions at a time when national commitments are flagging.

Power company commitments to cut carbon pollution are an important step for our climate and health. Here’s what we need next. (Climate 411)

  • Due to the cost-effective pollution reduction opportunities in the power sector and the urgent need to reduce climate pollution by electrifying other sectors, even more ambitious near-term targets from power companies will be needed to achieve net-zero emissions economy-wide by 2050.
  • As the nation’s second-largest source of carbon pollution, the power sector must make significant and rapid reductions in carbon pollution.
  • To reach net-zero economy-wide carbon pollution by 2050, as laid out by the bills recently introduced in the House and Senate and avoid the most severe global temperature rise, power companies must support their net-zero mid-century goals with ambitious near-term targets and real-world action.

DOMINI Launches the Domini Sustainable Solutions Fund to Help Tackle Global Sustainability Challenges (Business Wire Energy News)

  • Domini Impact Investments LLC, a U.S. pioneer in the impact investing field, is pleased to announce the recent launch of the Domini Sustainable Solutions Fund, a new mutual fund dedicated to investing in innovative, solution-oriented companies contributing solutions to global sustainability challenges.
  • The Domini Sustainable Solutions Fund is designed to help impact investors make a difference and meet their own personal financial goals through a global equity portfolio of companies that Domini believes can play an important role in addressing some of the world’s greatest social and environmental challenges.
  • Domini CEO Carole Laible comments, “This Fund was designed to address very specific themes that impact investors seek to address and corresponds to the demands of those investors as they pursue competitive returns, but also look to align their investments with their deepest concerns for people and the planet.” For more information about the Domini Sustainable Solutions Fund, visit Domini.com.

Sustainable Opportunities Acquisition Corp. Announces Pricing of $300 Million Initial Public Offering (GlobeNewswire)

  • Sustainable Opportunities Acquisition Corp., led by Scott Leonard (CEO) and Scott Honour (Chairman) of Northern Pacific Group,  is a special purpose acquisition company formed for the purpose of entering into a business combination with one or more businesses.
  • While the Company may pursue a business combination in any industry, the Company intends to focus its search for a business that exists within industries that benefit from strong Environmental, Social and Governance (“ESG”) profiles.
  • While investing in ESG covers a broad range of themes, the Company is focused on evaluating suitable targets that have existing environmental sustainability practices or that may benefit, both operationally and economically, from the founders’ and management team’s commitment and expertise in executing such practices.

The Climate Sentinel is an AI-powered news assistant for ESG investors and those concerned about climate change, corporate social responsibility, and related topics. Learn more.


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