The Wrap: archive
Every The Wrap story in Sustainable Investing, newest first. 79 stories
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Tropical Forest Finance Facility seeks $100bn from bond investors
The facility has $7.8 billion in sovereign backing toward a $125 billion target, including a $500 million pledge from the Netherlands at COP17.
Impact investing assets under management reach $1.8 trillion
A biannual industry survey reports two years of growth in the asset class, according to ImpactAlpha.
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JPMorgan widens what counts toward its $2.5 trillion green goal
The bank reported $217 billion of sustainable-development financing in 2025 and a 2035 target to cut its power portfolio's carbon intensity by 79%.
HKEX opens green label with a 50% revenue test
Companies must keep fossil-fuel revenue and investment below 5%, requalify annually, and be assessed by HKEX-approved reviewers.
EIB commits at least €30 billion to climate adaptation by 2030
The 2026–2030 plan doubles the financing pace and pairs blended finance with risk-sharing tools.
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AIIB commits up to $100 million to TPG's Global South climate strategy
The Asian Infrastructure Investment Bank is putting $50 million into the fund and up to $50 million more into co-investments in a strategy targeting $2.5 billion.
Citi structures $72 million note tied to Applied Carbon biochar credits
Nuveen participated in the transaction, announced October 22.
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EU Innovation Fund awards €3.4bn of ETS revenue to 77 net-zero projects
Twelve large-scale projects take nearly half the award, and small modular nuclear and direct air capture projects are firsts for the fund.
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NORD/LB agrees to buy renewable energy adviser Voltiq
The Amsterdam- and Madrid-based boutique advises on project financing, debt and equity raising and M&A; terms were not disclosed.
NORD/LB announces deal to acquire renewable-energy adviser Voltiq
Voltiq, founded in 2009 and based in Amsterdam and Madrid, advises on project financing, debt and equity raising and M&A. The purchase price was not disclosed.
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California locks in November deadline for first corporate climate reports
ESG Today's weekly review also records €1.6 billion in Ircantec mandates, ESMA greenwashing guidance, SBTN's new nature target-setting framework and TNFD's updated reporting guidance.
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Google is named buyer in AEP fuel cell PPA and 44.01 removal offtake
AEP's $4 billion Cheyenne plant would use Bloom Energy fuel cells, and Google also signed an $11.7 million Frontier offtake with 44.01 covering 20,932 tons.
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JPMorgan's sustainable-finance book reached $1.2tn, 48% of its $2.5tn target
The bank keeps its financed-emissions targets and rebalances its energy strategy while attributing some progress to broader eligibility criteria.
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Ircantec awards Amundi and BNP Paribas nearly €1.6bn climate-linked equity mandates
The mandate uses a custom MSCI SRI index with a 7% annual decarbonization target.
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EPA repeals most power-plant carbon standards; EU Commission weighs one-year methane delay
ESG News's review of the fortnight also records an Italian sovereign green bond covered more than 13 times and Google's commitment of at least $15.1 billion to Finnish AI infrastructure.
KKR and TotalEnergies plan $1.2bn U.S. solar expansion
The deal would add 700 megawatts in Texas and Ohio, raising jointly held capacity from 1.4 GW to about 2.1 GW.
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IFC and BlueOrchard open $2bn emerging-markets private debt fund
Tokio Marine Group anchored a $300m first close, leaving 85% of the target still to be raised.
IFC and BlueOrchard target $2bn emerging-markets private debt fund
Tokio Marine Group is the anchor investor and $300 million is committed at first close.
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USDA ends upfront REAP grants for farm energy projects, effective Oct. 16
The rules, effective Oct. 16, require applicants to finance and complete a project and document a full year of energy savings before applying.
South Korea launches 10-year K-GX strategy to mobilize $747 billion
The plan pairs 200 trillion won of direct spending with 570 trillion won of state-backed climate finance, totaling 770 trillion won.
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Shell Foundation provides first-loss capital to Lendable Transportation and Energy Fund
The fund targets $200 million and raised $135 million at a first close in December 2025, with senior tranches anchored by IFC, FMO and SIFEM.
DOE prepares up to $4.2 billion conditional financing for Vistra nuclear uprates
The conditional commitment would support upgrades at Beaver Valley, Davis-Besse and Perry, adding 433 megawatts.
Aviva Investors and ABN AMRO invest €100m in SL Materials
Eurazeo separately agreed to acquire a majority stake in Madrid's Miya Water, the fourth investment from its Planetary Boundaries Fund.
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Robeco survey finds 82% of investors expect physical climate risks to affect asset prices
The same survey shows only 47% of investors call climate change significant or central to investment policy, up from 46% a year earlier.
Rezolv's €561m Dama Solar debt attracts 14 lenders on EIB guarantee and Romanian CfD
An InvestEU guarantee from the European Investment Bank and Romanian contracts for difference covering 520MW of the 1.3GW build back the package for the solar project.
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Hong Kong prices $2.6 billion tokenized green bond with tokenized deposit settlement
The four-tranche deal drew subscriptions from 1.3 to 11.3 times, with tokenized deposits settling the Hong Kong dollar tranche.
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Thailand's nature KPI bond draws 2.8 times its $450 million target
Thailand's 15-year deal drew subscriptions 2.8 times its $450 million planned size, while Ukraine's 2026–2028 framework carries a taxonomy and monitoring regime with no financing figure attached.
Urgewald finds UK banks lent $8.3bn to coal as European lending fell 46%
Barclays and HSBC are named among the banks that increased exposure over 2022–2025, as Brussels weighs a delay to methane rules on imported oil and gas.
CIP's credit platform leads Antora battery equity as NBIM commits to CI VI
Antora also announced an offtake to supply Pratt Energy beginning in 2027.
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FCA drops plans for mandatory IFRS-based climate reporting as EU anti-greenwashing rules take effect
ESG Today's week-in-review places the change next to ISO's proposed net zero standard failing an initial vote and Vanguard's finding on younger investors' ESG voting choices.
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Data-center lenders screen on-site water; power-plant water use goes unpriced
Ceres and Bluefield Research find most of a data center's water footprint comes from electricity generation, with no settled measure to underwrite.
Stegra says Boden green steel plant will cost more
Contracted offtake underpins the EIB loan and Amazon's 20-year PPA, while Stegra's Boden steel plant says completion will cost significantly more.
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Nest replaces 1,000-stock EM book with 100-150 as NYC boards weigh $5bn climate allocation
Nest says it chose Wellington's mandate for engagement capability, while the boards of three New York City pension funds will run independent fiduciary reviews of the proposed climate allocation.
FCA drops mandatory climate proposal and extends comply-or-explain to ISSB-aligned UK standards
Final rules cover climate and general sustainability for accounting periods starting January 1, 2027, with initial reports due in 2028.
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Reverion raises $175m for a fuel-cell factory and Italy sells €8bn green bond
Most of the Munich spin-off's round funds a plant that lifts annual capacity tenfold to 250 MW, alongside a $3.3bn UK fusion package and a £4bn grid body due to be announced.
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EU green-claims fines take effect before verification infrastructure exists
The ISO net-zero draft failed its member vote after a 12-week consultation drew nearly 5,000 comments, and ESMA will not supervise ESG rating providers until 2027.
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EU generic green-claims ban takes effect, fines can reach 4 percent of annual revenue
The directive bars generic environmental claims and offset-based carbon-neutral labels, and requires independent verification of advertised future climate targets.
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Brussels ships the ESRS; the data layer writes the rest
The revised ESRS reached the Official Journal the same week Glass Lewis merged with Clarity AI, pairing voting advice with sustainability data; the statute and the software that answers it are arriving together.
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Transition capital repriced the wire, not the data hall
Ares bought the offtake, Exelon bought the supplier, and New York's owners bought a way around the meter — the interconnection queue is now the underwriting variable.
Resilience talk is what a grid bottleneck sounds like
Behind-the-meter enthusiasm from New York's asset owners shows where transition capital's binding constraint sits: connection rather than conviction.