News in the spotlight: Green Impact Exchange (GIX) approved by SEC
The U.S. SEC has officially approved the Form 1 application of GIX for a national securities exchange license.
Regulations, Law and Frameworks
UK opens consultation for voluntary carbon and nature markets
The UK Government has launched a public consultation aimed at raising integrity in voluntary carbon and nature markets. The initiative seeks to establish a clear policy and governance framework to ensure that carbon and nature credits are used transparently and responsibly. The consultation outlines six core principles, focused on encouraging companies to go beyond their value chain actions, use high-integrity credits, report and disclose credit use as part of sustainability strategies, plan proactively, communicate green claims accurately, and collaborate to build trusted markets. The consultation is open until 10 July 2025.
NZBA renews mandate with increased focus on real economy decarbonization potential
The Net-Zero Banking Alliance (NZBA) has renewed its mandate following a year-long strategic review, with members voting overwhelmingly in favor of proposed changes aimed at deepening support for banks pursuing climate targets. The updated framework emphasizes unlocking investment opportunities and enhancing engagement across key sectors to facilitate real economy decarbonization. Founded in 2021, NZBA has guided over 100 banks in setting 1.5°C-aligned sector-specific targets. The renewed mandate builds on these efforts by addressing the evolving external landscape, including new climate reporting requirements, diverse market conditions, and the need for banks to remain accountable to shareholders and society. Key updates include broader recognition of varied net-zero pathways in line with the Paris Agreement, a stronger focus on sectoral collaboration, and expanded practical support to help banks navigate the net-zero transition. NZBA will remain a central platform for capacity-building and knowledge-sharing as its 120+ member banks advance individual climate strategies.
Products and Services
Crux raised $50mn Series B to scale clean energy platform
Crux, a platform streamlining clean energy financing, has secured $50 million in Series B funding led by Lowercarbon Capital, with participation from major investors including a16z, Giant Ventures, and MassMutual Ventures. This brings its total funding to over $77 million. Crux facilitates tax credit transfers and clean energy debt transactions, having supported 70+ transfers worth billions and launched a debt marketplace with over $11B in active capital raises. With 630+ platform participants — expected to exceed 1,000 by year-end — Crux aims to centralize and accelerate clean infrastructure financing. The new funding will enhance platform tools, expand AI-powered workflows, deepen market intelligence, and scale the team. Crux positions itself as the core financial infrastructure for America’s energy transition, offering liquidity, intelligence, and efficiency for developers, tax teams, and investors.
Franklin Templeton launched two new SFDR Art. 8 ETFs for European investors
Franklin Templeton has launched two new UCITS ETFs for European investors: the Franklin S&P 500 Screened UCITS ETF and the Franklin S&P World Screened UCITS ETF. Both funds are classified as Article 8 under SFDR and aim to deliver core equity exposure with enhanced ESG profiles and reduced carbon intensity. The ETFs track newly developed S&P Guarded indices, which closely follow their parent benchmarks while excluding companies involved in controversial activities like thermal coal, tobacco, or weapons. With low tracking error and competitive fees (0.09% and 0.14%), the funds offer cost-efficient, ESG-aligned investment options. They are listed across major European exchanges and registered for distribution in 13 countries.
Green Impact Exchange (GIX) approved by SEC
The U.S. SEC has officially approved the Form 1 application of GIX for a national securities exchange license. This marks a significant milestone in the development of sustainable finance infrastructure. GIX aims to launch a new kind of exchange focused on transparency, innovation, and green investment. The approval signals that GIX meets the SEC’s stringent regulatory standards. It paves the way for more accessible capital markets for environmentally focused companies. The move is expected to support investor confidence and accelerate the growth of sustainable business models.
Leadership Announcements
MUFG appoints Stephen Jennings as Chief Sustainability Officer EMEA
MUFG has named Stephen Jennings as Chief Sustainability Officer for EMEA, reaffirming its commitment to sustainable finance in the region. Jennings will also remain Head of Energy Structured Finance and Head of the Sustainable Business Division for EMEA. With over 24 years of experience in energy and renewables financing, he is well positioned to lead MUFG’s regional sustainability strategy. Cathryn Kelly will serve as Deputy Chief Sustainability Officer, alongside her role as Head of Credit Strategy Group, highlighting MUFG’s focus on governance and risk management. The new function will steer the bank’s EMEA sustainability strategy, coordinate with MUFG Group, and support the firm’s global target of 100 trillion yen in sustainable finance by 2030. MUFG EMEA has already made notable progress, financing EV infrastructure, green transport, and solar energy, while actively supporting clients in their net-zero transitions.