Climate & environment

Established by the LSE’s Grantham Research Institute, the Just Transition Finance Lab will focus on designing financial instruments and strategies to bring the just transition to life.

UK-based impact investor Bridges Fund Management has announced its second investment exit of 2024, with the sale of a supplier of plant-based foods to private equity firm NVM.

The London-based alternative asset manager will use the investment to expand its network of biodiversity hotspots, which will generate income through the sale of credits.

The investment in Nepra addresses “a clear climate challenge”,  the Swiss specialist impact investor said.

The investments in green chemistry startup DUDE CHEM and deep tech startup CarbonX aim to support the development of sustainable alternatives in the manufacture of EV batteries and chemicals used in medication.

Investments in low-income or least-developed countries totalled €1.2bn, while Africa took in the largest share of total new commitments, according to the Association of European Development Finance Institutions.

The fund, co-headed by the former Bank of England governor focuses on investments that can speed up the transition to a net-zero economy.

The fund, in which Allied Irish Banks is a cornerstone investor, supports small- and medium-sized businesses in Ireland as they transition to the green economy.

The EU-backed funding is part of €4.2bn in debt financing announced by H2 Green Steel for its large-scale green steel plant in Sweden, on top of equity investments of €300m and a €250 million grant from the EU’s Innovation Fund.

The investments in BluSmart and CleanEdge Resources have been made through the responsAbility Asia Climate Fund launched late last year.