News in the spotlight: Converge raises $22M to decarbonize concrete with AI.
Converge-decarbonize-emissions strategy gained momentum with a $22M investment to cut concrete-related emissions using AI. The funding reinforces the company’s role in transforming construction into a more climate-resilient industry through data-driven innovation.
Products and Services
Converge Raises $22M to Tackle Concrete Emissions Using AI
Construction technology firm Converge raised $22 million in Series A funding to expand its artificial intelligence platform that decarbonizes concrete. Concrete is one of the world’s most carbon-intensive materials.
The round, led by OGCI Climate Investments and joined by Piva Capital and Undivided Ventures, highlights rising investor interest in cleantech. Converge’s software uses real-time analytics and machine learning to reduce emissions in concrete mixing and curing.
The company’s technology has already been deployed on major infrastructure projects. With the new funds, Converge plans to scale across Europe and North America and refine its AI tools for broader climate impact.
(source: converge.com)
Singapore’s Gprnt Unveils First Nationwide ESG Reporting Utility
Gprnt, a Singapore-based ESG technology platform backed by Ant International and MUFG, has launched the world’s first nationwide ESG reporting utility. The platform, introduced on May 22, 2025, allows SMEs to generate core sustainability metrics automatically using Singapore’s Greenprint infrastructure.
As a result, it improves regulatory compliance and reduces the reporting burden for smaller businesses. Gprnt solves a major challenge in ESG adoption: lack of accessible, automated tools for consistent data disclosure. It enhances transparency and encourages broader participation in sustainable finance.
Moreover, this public-private collaboration showcases Singapore’s leadership in ESG innovation. The initiative may serve as a blueprint for similar solutions in Asia and other developing regions where ESG adoption remains low. With mandatory ESG disclosures growing globally, the timing of this digital solution is strategic and impactful.
(source: gprnt.com).
Regulations, Law and Frameworks
EU Relaxes Carbon Border Tax: 90% of Importers to Be Exempt
On May 22, 2025, the European Parliament approved a revision to the Carbon Border Adjustment Mechanism (CBAM), easing the rules for small importers. Companies importing fewer than 50 tonnes of carbon-intensive goods annually will now be exempt.
This change is expected to relieve 90% of importers—primarily SMEs—from complex reporting obligations. Despite these exemptions, CBAM will still cover over 99% of embedded emissions. The reform is part of the EU’s ‘Omnibus I’ simplification package, aimed at reducing red tape while supporting climate goals.
CBAM’s phased implementation continues, with carbon certificate purchases postponed to 2027. As a result, businesses have more time to prepare. This shift balances the EU’s environmental ambition with economic practicality and improves policy acceptance among smaller enterprises.
(source: europarl.europa.eu)
EU Imposes CO₂ Storage Quotas on Oil and Gas Firms to Meet 2030 Net-Zero Goals
On May 22, 2025, the European Commission announced CO₂ storage quotas for 44 oil and gas firms under the Net-Zero Industry Act. The objective is to develop 50 million tonnes of annual CO₂ storage capacity by 2030. Each company’s obligation is based on its fossil fuel production between 2020 and 2023.
The EU aims to accelerate carbon capture deployment in hard-to-abate sectors, using the expertise of high-emitting industries. Designated projects will be treated as Net-Zero Strategic Projects, making them eligible for fast-track permitting and EU Innovation Fund support.
Firms must submit implementation plans by June 30, 2025. This regulation remains under a two-month review by the European Parliament and Council. If adopted, it would be one of the EU’s most aggressive regulatory moves to date in industrial decarbonization.
(source: climate.ec.europa.eu)
EBA Proposes Simplified ESG Disclosure Rules for Banks
On May 22, 2025, the European Banking Authority (EBA) launched a consultation proposing simplified ESG disclosure requirements under Pillar 3. The goal is to reduce regulatory burdens on smaller banks while maintaining transparency on environmental, social, and governance risks.
The proposed framework introduces streamlined templates, flexible timelines, and proportional reporting based on bank size and complexity. The consultation responds to industry feedback about ESG data collection challenges.
It also aligns with EU financial stability goals and the shift toward integrated sustainability in risk management. Stakeholders can comment until August 2025. If adopted, this framework could serve as a model for balancing ESG transparency with operational feasibility.
(source: eba.europa.eu).
ESG- and Green Bond Issuances
Latvian Water Utility Issues First EU Green Bond
Rīgas ūdens, the municipal water utility of Riga, Latvia, issued a €60 million green bond under the new EU Green Bond Standard (EuGB). The bond proceeds will finance water infrastructure upgrades and projects supporting climate adaptation.
This marks one of the first implementations of the EU’s official green bond framework. The bond was well received by investors and reviewed positively by external verifiers. The issuance highlights how local public institutions can access ESG capital markets and contribute to EU climate targets through transparent, standards-based financing.
(source: rigasudens.lv).
Net Zero Commitments
Microsoft Signs Record Biochar Carbon Removal Deal
Microsoft has entered into the world’s largest biochar-based carbon removal agreement, committing to purchase 1.24 million tonnes of carbon credits from Exomad Green over the next decade. Biochar, a carbon-rich byproduct of biomass processing, stores carbon in soil for centuries.
This deal supports Microsoft’s 2030 net-zero goals and expands the market for durable carbon removal technologies. In addition, the agreement reflects growing corporate demand for verifiable climate action, especially in hard-to-abate sectors.
Microsoft’s proactive strategy uses procurement to stimulate innovation in environmental solutions. As regulatory pressure increases, this type of partnership demonstrates how companies can lead in sustainability while building resilient climate portfolios.
(source: microsoft.com)
ESG Data & Analytics
Datamaran Study Uncovers Top ESG Risks in CSRD Reports
Datamaran analyzed more than 300 CSRD-compliant sustainability reports to identify the most common ESG risks facing European companies. Climate change, supply chain disruptions, and data transparency ranked highest, followed by biodiversity and human capital concerns.
The study also found that firms struggle with consistent definitions of double materiality and stakeholder engagement. These early insights reveal the lack of standardized reporting practices across sectors.
As CSRD becomes mandatory, the report emphasizes the importance of clear guidance and automated tools. Datamaran’s findings can support companies in refining strategy, governance, and ESG communication.
(source: datamaran.com)
Novisto Secures $27 Million to Expand ESG Reporting Software
Canadian ESG software company Novisto raised $27 million in Series C funding to scale its platform for sustainability data management and reporting. The platform helps companies meet emerging disclosure requirements such as CSRD and ISSB by integrating and structuring ESG data.
Investors include Inovia Capital and Full In Partners. With this funding, Novisto plans to enhance automation, AI-driven analytics, and user support. Demand for ESG technology has grown as firms face stricter regulations and rising investor expectations.
Novisto’s solution aims to provide audit-ready, actionable insights that help companies navigate complex ESG frameworks. Its expansion reinforces the strategic importance of digital tools in the evolving sustainability landscape.
(source: novisto.com)
Natixis Merges ESG and Thematic Investment Divisions
Natixis Investment Managers has merged its ESG and thematic investment teams to streamline analysis, reporting, and product innovation. The goal is to align sustainability metrics with investor expectations and evolving regulatory demands.
This move reflects a broader trend in asset management: integrating ESG considerations into mainstream portfolios. By consolidating teams, Natixis aims to improve efficiency, strengthen research capabilities, and ensure consistent application of impact frameworks.
The reorganization supports scalable ESG growth as the firm responds to increasing demand for transparent, long-term investment strategies.
(source: natixis.com)