Climate & environment

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.

The land regeneration company is seeking to revive degraded land working with local communities, while providing high-quality carbon credits.

The UK-based investor said money committed so far was being invested in 19 startups, including six in Germany, where it has established a hub in Berlin.

The fund will invest in the “missing middle” between venture and buyout in climate-related sectors including energy transition, buildings and mobility, climate intelligence, production and consumption, and food and agriculture. 

Organisations seeking to boost impact investment in emerging markets and tackle nature loss took advantage of the global stage provided by the annual World Economic Forum to talk about key initiatives.