Day: 24 September 2023

Occidental Enters into Agreement to Acquire Direct Air Capture Technology Innovator Carbon Engineering

Stuart Mitchell

Occidental recently announced that a wholly owned subsidiary has entered into a definitive purchase agreement to acquire all the outstanding equity of Carbon Engineering Ltd. for total cash consideration of approximately $1.1 billion, to be made in three approximately equivalent annual payments, with the first at closing. This transaction is expected to close before the end of 2023, subject to Canadian court reviews, Canadian and U.S. regulatory approvals and other customary closing conditions. Occidental has been working with Carbon Engineering on direct air capture (DAC) deployment since 2019. Acquiring Carbon…

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Stonewater secures £200m sustainability-linked loan to help retrofit 36,000 homes

Stuart Mitchell

Stonewater, which owns and manages around 36,000 homes for more than 78,000 customers, predominantly across central and the south of England, has refinanced its existing £125m facility and increased it by £75m. The social housing provider also took the opportunity to transition to a sustainability-linked loan where it will be it measured against three KPIs to receive covenants on its funding. It has committed to investing in retrofitting existing homes – which can reduce the amount of energy a home uses – to ensure its stock exceeds the current minimum…

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Iberdrola launches Carbon2Nature to reduce the global carbon footprint through nature-based solutions

Stuart Mitchell

Iberdrola launches Carbon2Nature (C2N) with the mission of developing high-impact nature-based solutions projects that reduce the global carbon footprint, improve biodiversity, and promote a sustainable economy. The company was born out of the utility’s conviction that investing in nature is essential to act against the climate and biodiversity crisis, while at the same time acting as a formula for sustainable value creation and profitability. Carbon2Nature harnesses the potential of carbon credit markets, driving the development of in-house or collaborative projects that will generate high quality carbon credits, which Carbon2Nature will…

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83% of documents from the plastic value chain make no mention of plastic-related risks

Stuart Mitchell

Planet Tracker recently released a new report “Exposing Plastic Risk”, an in-depth analysis of 8,245 documents, transcripts and filings from all areas of the plastic industry value chain (from upstream companies such as Saudi Aramco and Exxon Mobil to downstream FMCG corporates such as Mondelez and P&G) which reveals alarming tendencies in the plastic value chain’s risk management practices. The report found that the vast majority (83%) of documents from plastic industry executives from across the plastics value chain did not mention any of the risks that the plastic industry…

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RSSB develops rail industry zero waste metrics

Stuart Mitchell

The Rail Safety and Standards Board has developed a suite of metrics to measure performance across the circular economy, waste management, and resource management. The Rail Safety and Standards Board (RSSB) working with the rail industry and global consulting experts Ricardo, has completed the first phase of a project to develop  a suite of metrics to help the rail industry measure its performance towards reaching a zero waste goal of using its resources efficiently and supporting a collaborative circular economy. , Integrating these metrics across the rail industry will enable…

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