Carlyle-backed battery storage developes NineDOT racks up $225m

NineDot Energy, a New York City-based developes of community-scale battery energy storage systems, has secured $225 million in funding from Manulife Investment Management and Carlyle, NineDot’s existing institutional equity investor. With this investment, Manulife Investment Management has acquired an equity stake in NineDot. Christopher McKenzie, a Managing Director on Manulife Investment Management’s infrastructure team, will […]

General Atlantic forms BeyondNetZero

General Atlantic, a global growth equity firm, has announced the formation of BeyondNetZero (BnZ), a new venture targeting growth equity investments related to climate change. BnZ is being established in partnership with Lord (John) Browne of Madingley, Senior Advisor to General Atlantic, who will serve as Chairman of the venture. BnZ combines General Atlantic’s significant […]

Wellcome pledges £29bn investment fund will be carbon zero by 2050

Wellcome, the £29bn endowment foundation, has pledged that its vast portfolio of investments in shares, hedge funds, private equity and property will become carbon net zero before 2050, the largest such pledge by a UK charity. Wellcome, one of the world’s biggest charitable donors, will work with fund managers that oversee assets on its behalf, […]

Climate-friendly PE investments do not lead to lower performance

Analysis from global consultancy partnership Kearney has revealed that private equity investments focusing on climate protection, besides having a positive effect on the planet, do not sacrifice profitability. The exploratory study, in conjunction with the Technical University of Munich and climate change-focused start-up ‘right, based on science.’, reveals that climate protection and attractive returns can […]

BlackRock’s Fink says investors demand sustainable strategies

Companies that do not adopt sustainable business strategies can expect less investment as shareholders grow more focused on topics like climate change, BlackRock Inc CEO Laurence Fink said on Thursday. Fink said he has been telling corporate boards they will see “money moving in to more sustainable strategies. And if you’re not part of that […]

BlackRock can push harder on climate change

BlackRock’s long road to green leadership has passed another milestone. The $9 trillion asset manager on Wednesday said it would require companies which emit lots of carbon dioxide to set nearer-term targets for cutting greenhouse gases, as well as more fully disclosing their true emissions. That’s progress, but BlackRock can still go further. The latest […]

Daimler Trucks labour chief wants clean tech investments in Germany

Daimler Trucks, which is being spun off by its parent group later this year, should invest much of a 1.5 billion euro ($1.8 billion) fund for cleaner technologies in Germany, works council chief Michael Brecht said on Saturday. Daimler announced the fund on Feb. 3 alongside plans to spin off the world’s largest truck and […]

Brookfield Pursues $7.5 Billion Fund Devoted to ‘Net-Zero’ Shift

Brookfield Asset Management Inc. plans to raise at least $7.5 billion for a new climate-focused fund, as the Canadian investment firm builds out an ESG business led by former Bank of England Governor Mark Carney. The Brookfield Global Transition Fund seeks to take advantage of accelerating interest in solutions to the global climate crisis, with […]

Brookfield, two others bid for Fortum’s assets

Canada’s Brookfield Asset Management Inc., private equity firm Actis Llp and Edelweiss Infrastructure Yield Plus Fund’s Sekura Energy Ltd have offered to buy a majority stake in Finnish state-run power utility Fortum Oyj’s 500 megawatts (MW) solar projects in India in a deal estimated at about 500 millions euros, said two people aware of the […]