News in the spotlight: MUFG introduces Green Deposits for EU businesses
MUFG Bank (Europe) has launched Green Deposits for corporate clients across the EU, extending a product already offered in the US and UK. The deposits let businesses place funds with the bank while directing an equivalent amount toward eligible environmental projects under MUFG’s Green Deposit Framework.
Products and Services
MUFG introduces Green Deposits for EU businesses
MUFG Bank (Europe) has launched Green Deposits for corporate clients across the EU, extending a product already offered in the US and UK. The deposits let businesses place funds with the bank while directing an equivalent amount toward eligible environmental projects under MUFG’s Green Deposit Framework. The framework covers areas including renewable energy, energy efficiency, clean transport, green buildings, biodiversity, sustainable land and water management, and climate adaptation. It was developed with support from Morningstar Sustainalytics. Subaru Europe is the first client to use the EU offering. For companies, the product provides a way to connect treasury cash management with environmental objectives without financing or managing projects directly. MUFG says clients can use existing banking arrangements, so they do not need to open additional accounts. The launch adds a deposit product to MUFG’s sustainable-finance services in Europe. Its distinguishing feature is the allocation of deposited liquidity to a portfolio of eligible green assets, rather than a loan or investment made directly by the client.
Norges Bank Investment Management invests EUR 1.2bn in Copenhagen Infrastructure Partners fund
Norges Bank Investment Management (NBIM), which manages Norway’s sovereign wealth fund, has committed EUR1.2 billion to Copenhagen Infrastructure Partners’ sixth flagship renewable-energy fund, CI VI. The agreement was signed on 1 October 2026, extending a partnership that began with NBIM’s EUR900 million commitment to CI V in 2024. CI VI will focus mainly on developing renewable-energy generation and storage projects across OECD countries in North America, Western Europe and Asia-Pacific. NBIM says the fund will allow it to continue investing at the development stage, when projects are being advanced toward construction and operation. The commitment expands the fund’s exposure to unlisted renewable-energy infrastructure through an external investment manager. NBIM did not disclose the expected number or capacity of projects, the timing of capital deployment, or projected returns.
Novele raises USD 17mn in Series A financing round
Novele has raised an oversubscribed USD 17mn Series A to scale its AI-powered energy platform for commercial buildings. Boisei Labs led the round, with participation from Locke Health, Arup Ventures, construction firm Barton Malow, and commercial property owners and operators. The company combines BoardOS software with EnergyBoard storage hardware. BoardOS analyzes energy use and helps coordinate when buildings draw, store or use electricity; EnergyBoard distributes storage within existing commercial properties. The system is designed to manage demand and reduce exposure to peak-power costs, while potentially giving buildings more flexibility in how and when they use electricity. Novele plans to use the funding to expand its engineering, deployment and commercial teams, install systems across its existing project pipeline, and continue developing and training BoardOS. The company says its approach is intended for occupied buildings, where upgrades must be deployed without major disruption. The financing supports Novele’s effort to expand beyond its existing customer base and scale installations.
Leadership Announcements
Kerstin Lopatta steps down as EFRAG Sustainability Reporting Board Chair
Kerstin Lopatta resigned as Chair of EFRAG’s Sustainability Reporting Board (SRB) on 30 September 2026. EFRAG appointed Kristian Koktvedgaard as Acting Chair with immediate effect; he will serve until a permanent replacement is selected. The appointment process for the next chair will follow the established EU procedure: the European Commission will nominate a candidate in consultation with the European Parliament and the Council of the European Union. EFRAG thanked Lopatta for her contribution to its sustainability-reporting work and her commitment to European reporting since 2022. The German Accounting Standards Committee (DRSC) said it regretted her resignation. Its president, Georg Lanfermann, argued that Lopatta had been unable to carry out the mandate entrusted to her by EU institutions despite her qualifications. He called on EFRAG to review the circumstances of her departure and address them through broader governance reform. The departure creates an interim leadership arrangement at a key body involved in developing European sustainability-reporting standards.