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EU Eyes ‘Re-Engineering’ of Global Finance With Green Standards Bloomberg 3 hrs ago Nikos Chrysoloras and Ewa Krukowska © Bloomberg Wind turbines stand near the hydrogen electrolysis plant stands at Energiepark Mainz, operated by Linde AG, in Mainz, Germany, on Friday, July 17, 2020. Europe is pinning its green hopes on hydrogen in a plan that sees hundreds of billions of euros in investment flowing into the clean technology and fueling a climate-friendly economic recovery. (Bloomberg) -- The European Union’s new standards for classifying sustainable investment will...

EU Reaches Climate Deal on Binding Goals That Change Everything Bloomberg 2 hrs ago Ewa Krukowska © Bloomberg Wind turbines near the vapors rising from the Neurath lignite fueled power station, operated by RWE AG, in Grevenbroich, Germany, on Monday, March 15, 2021. Axa SA, France's biggest insurer, is dropping German energy giant RWE as a client in a decision that highlights how taboo the coal business has become. (Bloomberg) -- European Union lawmakers reached a late-night deal to make the bloc’s ambitious climate goals legally binding, paving the way for a torrent of...

World’s Biggest Wealth Fund Strikes a Milestone Green Deal Bloomberg 3 hrs ago © Bloomberg Wind turbine. (Bloomberg) -- Norway’s $1.3 trillion wealth fund just made its first investment in clean energy infrastructure, more than a year after it was given the go-ahead to move into the asset class. The world’s biggest sovereign investment vehicle has agreed to buy 50% of the 752 megawatt Borssele 1 & 2 offshore wind farm from Orsted A/S of Denmark. The deal is worth just under 1.4 billion euros, or about $1.6 billion, it said. Norway’s wealth fund has been looking for such assets si...

Global Securities Watchdog Targets Greenwashing in ESG Plan Bloomberg 3/9/2021 Frances Schwartzkopff © Photographer: Chris Ratcliffe/Bloomberg Wind turbines operated by Vattenfall AB sit on a wind farm in Aggersund, Denmark. (Bloomberg) -- Global organizations that set corporate reporting standards failed to keep pace with the ESG boom, opening the door to greenwashing, mispricing and bubbles, according to one such group. Correcting the situation “will take some time,” said Erik Thedeen, chairman of the Sustainable Finance Task Force at the International Organization...

Gim Seong-gon was running a steel-manufacturing business in the late 1980s when he became fascinated by wind power. The South Korea native saw growth potential in the field and decided to get involved.