News in the spotlight: Seedling acquires Go Climate Positive to expand carbon accounting capabilities
Seedling, a B Corp-certified carbon management platform, has acquired UK-based carbon accounting firm Go Climate Positive (GCP), with the deal completed on 31 October 2026.
Products and Services
Google to invest USD 160mn in water infrastructure
Google will fund USD 160mn in shared water infrastructure in Negeri Sembilan, Malaysia, alongside its planned data-centre development in Port Dickson. Working with the state government, water utility SAINS and contractor Gamuda, it will build an off-river storage reservoir and treatment plant with capacity to supply 65 million litres of potable water daily, serving both the data centre and the wider public. The reservoir is designed to capture excess river flow and rainfall, reducing flood risk while providing a reserve during lower-yield periods without altering the river’s natural flow. The facilities will be owned by the state asset-management body MBINS, with Google funding construction and supporting operations over the long term. Google will also pay for all power used by the campus and the grid-connection costs, and is expanding clean-energy workforce programmes with SOLS Foundation, including school-based solar labs and a 36-hour digital-skills track for lower-income and Indigenous youth entering renewable-energy trades. The announcement ties data-centre expansion to water, power and workforce commitments in the host state.
NBIM invests USD 300mn in direct battery storage provider Aypa Power
Norges Bank Investment Management (NBIM), manager of Norway’s sovereign wealth fund, has made its first direct investment in battery storage, acquiring a 10 percent stake in North American platform Aypa Power for USD 300 million as a co-investor alongside Brookfield. The deal, signed and completed on 28 October 2026, adds to NBIM’s existing indirect exposure through Brookfield’s Global Transition Fund and follows Brookfield’s agreement in July 2026 to acquire Aypa Power from funds managed by Blackstone Energy Transition Partners. Aypa Power operates, is building or has contracted approximately 6.5 GW of battery storage capacity across the United States and Canada, with a development pipeline exceeding 20 GW. NBIM says storage is becoming essential as renewable generation grows, complementing its existing wind and solar portfolio and expanding its unlisted infrastructure exposure. The investment signals growing institutional interest in grid-scale batteries as a core component of power-system flexibility and the broader transition to higher shares of variable renewables.
BlackRock launches ESG-Focused protected equity fund for UK pension schemes
BlackRock has launched the BlackRock ACS World ESG Insights Protective Strategies fund, the first downside-protected equity fund on its UK retirement platform, aimed at pension schemes seeking to limit losses without fully giving up equity exposure. The fund is designed for defined contribution schemes, particularly members approaching retirement, and complements traditional de-risking by offering global equity participation alongside an options-based overlay that mitigates the impact of significant market declines. Unlike strategies that sell call options, BlackRock buys them, preserving uncapped upside participation while adding protection. The underlying portfolio is the firm’s World ESG Insights equity strategy, which applies sustainability criteria including a carbon emissions intensity reduction target and falls under BlackRock Investment Stewardship’s Climate and Decarbonization Stewardship programme. The launch reflects growing demand among DC and DB pension schemes, and increasingly wealth clients, for equity allocations that combine resilience with long-term growth potential, rather than relying solely on reducing equity weight as retirement nears.
BofA, SMI and Eurazeo launch Fund for Biodiversity solutions
The Sustainable Markets Initiative and Bank of America have launched the Lighthouse Initiative, a dedicated investment allocation for nature and biodiversity solutions managed by Eurazeo within its Future Industries Fund threeIII. The initiative launched on 23 September 2026 with USD40 million in aggregate commitments from Bank of America and Eurazeo as cornerstone investors, and is designed to attract additional partners and scale over time. It will make minority investments in project development platforms and technology-enabled solutions across developed and emerging markets, targeting ecosystem protection and regeneration, nature-positive transitions in industry and supply chains, nature-finance infrastructure, and improved measurement, monitoring, reporting and verification of nature outcomes. Each investment is expected to contribute to at least one target of the Kunming-Montreal Global Biodiversity Framework, including the “30 by 30” goal to conserve and manage at least 30 percent of terrestrial, inland water, coastal and marine areas by 2030, and will be monitored through Eurazeo’s impact framework with dedicated biodiversity indicators.
ESG Data and Analytics
Seedling acquires Go Climate Positive to expand carbon accounting capabilities
Seedling, a B Corp-certified carbon management platform, has acquired UK-based carbon accounting firm Go Climate Positive (GCP), with the deal completed on 31 October 2026. GCP’s clients will migrate to Seedling’s platform over the coming weeks, supported by named carbon specialists, while founders Eoin McQuone and Stephanie Lee remain involved during the handover to ensure continuity. The acquisition combines Seedling’s software-led model with GCP’s consulting and client relationships, strengthening Seedling’s position in the UK and internationally among scaling and mid-market businesses. Seedling serves more than 500 companies with full-scope emissions measurement, reduction and reporting, pairing its platform with one-to-one expert support. GCP, which has operated for six years, will see its founders shift focus to in-depth consultancy and training for large enterprises. The deal reflects ongoing consolidation in carbon accounting as businesses seek integrated tools and advisory support for credible emissions data and reporting.