Ikea commits $1.6 billion to decarbonize its stores
The brand will focus its efforts towards phasing out the use of fossil fuels to heat and cool its stores and are in line with the company’s goal to reduce its global carbon footprint by 85% by 2030. ESG Today
General Galactic raises $8 million in seed round for fossil-free natural gas production
The company has developed technology that transforms industrial carbon waste streams into fossil-free natural gas and will utilize the capital to execute on its goal to build production plants across the globe. Oilfield Technology
Undersea transmission project receives £2 billion in funding from UK energy regulator
Called the Eastern Green Link 1, the laying of new subsea and underground high-voltage cable will allow England to capitalize on offshore wind projects and is estimated to reduce energy costs by £870 million annually. Renewables Now
JP Morgan releases first ever green finance ratio
Part of an agreement with the comptroller of New York City, the bank disclosed it spent $1.29 in financing for green energy for every dollar it spent backing fossil projects; the company has not yet set a ratio it aims to meet in the future. Reuters
Carbon Deep raises $32 million in venture funding for underground waste storage tech
Using existing oil industry technology, the company flushes treated biosolids (human and livestock waste) down mile-deep underground wells and will use the funding dollars to expand its operations in the US. Reuters
