News in the spotlight: BBVA sets record — €63 billion in sustainable financing in just six months
BBVA has reached a new milestone by channeling €63 billion into sustainable financing within the first half of 2025. The record-breaking figure highlights the bank’s growing role in driving the global green finance transition.
Products and Services
E.ON and Schneider accelerate SF₆-free electrification - a breakthrough project begins
Schneider Electric and E.ON have signed a long-term framework agreement to deploy SF₆-free medium-voltage switchgear across E.ON’s European network. SF₆ (sulfur hexafluoride) is an extremely potent greenhouse gas used in traditional electrical equipment. By shifting to clean-air technologies, E.ON is setting a bold precedent for climate-friendly infrastructure in Europe. Schneider’s SF₆-free switchgear uses vacuum interruption and pure air insulation, providing a sustainable solution without compromising performance or safety. This collaboration aligns with the European Commission’s ambition to phase out fluorinated gases as part of its wider environmental legislation. Initial implementation will begin in Germany and gradually expand to other E.ON markets. The move reinforces both companies’ sustainability leadership and showcases how partnerships between industrial manufacturers and utilities can accelerate decarbonization in power networks. As electricity demand grows due to electrification of transport and heating, making the grid cleaner and greener becomes increasingly important for achieving net-zero targets. The project exemplifies innovation and regulatory alignment in climate-critical infrastructure (source: se.com).
Fusion power becomes real – Microsoft backs construction of revolutionary Helion plant
Helion Energy, supported by Microsoft, has started construction of the world’s first commercial fusion power plant in Washington State. This pioneering facility aims to generate energy by 2028 and provide 50 megawatts directly to Microsoft under a power purchase agreement. Fusion power holds immense promise as a clean energy source — producing no carbon emissions, no long-lived radioactive waste, and virtually limitless fuel. Helion’s unique approach uses deuterium and helium-3 and employs magnetized target fusion, which combines principles from both inertial and magnetic confinement. If successful, this project could change the global energy landscape by providing a scalable, zero-carbon alternative to fossil fuels and even renewables. It also represents a major step for private-sector involvement in fusion energy, historically dominated by public research. With Microsoft’s backing, the venture sends a strong market signal: investors are increasingly willing to support long-term, breakthrough technologies that can reshape energy systems in line with climate goals (source: helionenergy.com).
Google merges data and energy — $6 billion invested in India’s green tech hub
Google is investing $6 billion to develop India’s largest integrated data center and renewable energy hub in Maharashtra. The project will include hyperscale data infrastructure powered by a combination of solar, wind, and energy storage systems. As AI workloads expand, this initiative aims to support energy-intensive computing with carbon-neutral power. It also aligns with Google’s 2030 target to run all data centers and campuses on 24/7 carbon-free energy. Beyond infrastructure, the investment supports India’s broader green economy push and addresses the country’s growing digital and energy needs. Google will partner with local governments, utilities, and cleantech firms to accelerate deployment. The project will create jobs, enhance connectivity, and demonstrate how tech companies can lead in aligning digital transformation with decarbonization. This initiative strengthens India’s position as a global leader in both technology innovation and clean energy transition. It’s one of Google’s most ambitious sustainability investments in Asia to date (source: google.com).
Regulations, Law and Frameworks
EU simplifies ESG reporting - new standards unveiled by EFRAG
EFRAG has released a simplified draft of the European Sustainability Reporting Standards (ESRS), accompanied by a 60-day public consultation period. The revision responds to the European Commission’s request to ease reporting burdens for companies subject to the Corporate Sustainability Reporting Directive (CSRD). Key changes include reducing mandatory datapoints by 57%, eliminating voluntary disclosures entirely, and shortening the standard text by more than half. The double materiality assessment (DMA) has been restructured to improve usability and interoperability with ISSB standards. The goal is to make ESG reporting clearer, less complex, and more accessible—especially for first-time reporters and smaller companies. Simplification also aims to preserve comparability and assurance readiness. EFRAG has committed to deliver its final recommendation by November 30, 2025, following outreach sessions planned for September and October. This move is part of the EU’s broader effort to balance transparency, usability, and regulatory consistency across Europe’s sustainability disclosure ecosystem (source: efrag.org).
SMEs step into the spotlight - European Commission introduces tailored ESG reporting standard
The European Commission has unveiled a new voluntary sustainability reporting framework tailored to small and medium-sized enterprises (SMEs). Developed by EFRAG, the standard aims to help SMEs disclose ESG information in a practical, proportional, and scalable way. It covers essential topics such as climate emissions, human rights, governance, and basic risk management. The goal is to make sustainability reporting accessible without creating excessive administrative burden, especially for companies not yet subject to the CSRD. Although non-binding, the framework is expected to improve SMEs’ access to finance, strengthen supply chain relationships, and support future regulatory readiness. It also helps investors and larger companies obtain more consistent ESG data from suppliers. By enabling SMEs to engage early with ESG expectations, the standard supports more inclusive, bottom-up participation in Europe’s sustainability transition. The framework demonstrates the EU’s commitment to balancing ambition with feasibility across all layers of the economy (source: finance.com).
ESG- and Green Bond Issuances
BBVA sets record - €63 billion in sustainable financing in just six months
In the first half of 2025, BBVA mobilized a record-breaking €63 billion in sustainable financing, reinforcing its position as a European leader in ESG capital markets. The figure includes green loans, sustainability-linked bonds, and financing for climate transition projects in sectors such as energy, housing, and transport. Over 50% of the financing was aligned with climate mitigation and adaptation objectives. The bank also expanded advisory services to help clients meet new regulatory requirements like CSRD and ISSB. This milestone places BBVA on track to meet its goal of €300 billion in sustainable finance by 2030. It also reflects investor demand for transparency, impact-aligned portfolios, and credible ESG risk management. BBVA’s performance demonstrates how sustainability is no longer a niche initiative but a central part of mainstream banking strategy. The success adds to the competitive momentum among major banks seeking to lead in green finance while navigating evolving policy landscapes and stakeholder expectations (source: bbva.com).
France Valley launches €150M forest fund - timber goes green across Europe
France Valley has launched a €150 million pan-European forest investment fund, targeting sustainable timberland and reforestation opportunities. The fund is backed by family offices and institutional investors looking to diversify portfolios while supporting nature-based solutions. It will invest in certified forests across multiple European countries, including France, Germany, and Scandinavia. The initiative aims to combine financial returns with carbon sequestration, biodiversity conservation, and long-term environmental impact. Forests under management will be maintained according to strict ESG criteria, with potential for carbon credit monetization through verified standards. The fund’s strategy aligns with the EU’s push for ecosystem restoration, sustainable land use, and private capital mobilization for climate goals. France Valley’s experience in natural capital investing gives the fund credibility in a growing but still maturing market. As climate-conscious investors increasingly seek tangible impact, the fund bridges forestry, finance, and sustainability in a scalable, institutional format (source: france-valley.com).
Net Zero Commitments
New York boosts clean mobility - $21.6 million fund targets zero-emission transport
New York State has announced a $21.6 million Clean Mobility initiative to support the transition to zero-emission transportation, particularly in underserved communities. The fund will finance electric buses, charging infrastructure, e-bike programs, and shared electric mobility services. This program is part of the broader Climate Leadership and Community Protection Act (CLCPA), which aims to cut statewide greenhouse gas emissions by 85% by 2050. Special focus is placed on disadvantaged areas with high pollution levels, ensuring environmental justice is integrated into climate planning. The initiative not only helps reduce air pollution and carbon emissions but also improves mobility access for low-income and rural residents. The state expects to generate green jobs, stimulate local clean tech industries, and build long-term climate resilience. This funding complements federal incentives and signals New York’s leadership in local, equity-based decarbonization strategies. It’s a strong example of how states can advance transportation electrification while centering social inclusion (source: nyserda.com).
Saudi Arabia deploys DAC tech - Climeworks launches carbon removal in Riyadh
Saudi Arabia has launched its first Direct Air Capture (DAC) unit near Riyadh in partnership with Climeworks and KAPSARC. The pilot plant represents a significant step in the Kingdom’s strategy to lead in climate technology innovation, particularly in carbon removal. DAC extracts CO₂ directly from the atmosphere and stores it underground or uses it in industrial processes. The Riyadh facility demonstrates the feasibility of operating DAC under desert conditions, such as extreme temperatures and low humidity. Climeworks, known for its commercial DAC sites in Iceland, views this Middle Eastern expansion as a milestone in global carbon removal scaling. The initiative aligns with Saudi Arabia’s 2060 net-zero goal and signals growing interest in negative emissions technologies in oil-producing economies. Beyond technical proof-of-concept, the project serves as a platform for regional collaboration, regulatory testing, and climate finance mobilization. It highlights how Gulf nations are diversifying their climate strategies through frontier clean technologies (source: climeworks.com).
Barclays exits Net-Zero Alliance - is this the unraveling of collective climate finance?
Barclays has officially exited the Net-Zero Banking Alliance (NZBA), stating that the departure of multiple major global banks has undermined the coalition’s ability to coordinate climate action. Barclays emphasized its continued commitment to climate goals but noted it would pursue them independently. The move comes amid growing industry tensions over voluntary net-zero initiatives, which critics argue lack enforcement mechanisms and clear accountability. Some banks feel constrained by alliance guidelines when adapting to regional policy and market realities. Barclays had previously set targets to reduce emissions in high-intensity sectors such as oil and gas, but its departure raises questions about the future of industry-wide collaboration. Investors and climate advocates warn that fragmentation may slow progress in aligning finance with global decarbonization goals. Others suggest this reflects a transition toward more individualized strategies. The bank’s decision could signal a broader retreat from cooperative frameworks unless new models of climate accountability emerge (source: barclays.com).
ESG Data & Analytics
Google maps the planet - AlphaEarth to revolutionize environmental intelligence
Google has launched AlphaEarth Foundations, an advanced AI model designed to transform global environmental monitoring. The model processes petabytes of satellite imagery and land-use data to generate high-resolution, 10×10-meter maps of ecosystems. It offers a 24% improvement in accuracy and requires 16 times less storage than previous tools. AlphaEarth enables organizations to monitor biodiversity, deforestation, water stress, and agricultural productivity with unprecedented precision. Over 50 institutions, including UN FAO and MapBiomas, are already integrating AlphaEarth into climate and nature-focused projects. The tool is part of Google’s broader EarthAI initiative and supports carbon disclosure, conservation planning, and ESG reporting. It bridges a key data gap by translating raw geospatial inputs into actionable intelligence. Designed for scalability and integration, AlphaEarth represents a leap forward in planetary data infrastructure. The project reinforces Google’s role as a provider of open-access, climate-relevant technology at a time when demand for verifiable environmental data is surging globally (source: deepmind.com).
GRI trains ESG leaders - new courses support climate and nature disclosure skills
The Global Reporting Initiative (GRI) has launched two specialized e-learning courses to improve organizational ESG reporting skills. The first course focuses on climate-related disclosures under GRI 302 and the IFRS S2 standard, covering emissions, adaptation strategies, and use of carbon credits. The second addresses nature-related risks and disclosures aligned with the Taskforce on Nature-related Financial Disclosures (TNFD), helping organizations integrate biodiversity and ecosystem impacts into reports. These trainings respond to mounting regulatory expectations and investor demands for credible, standardized data. They also support compliance with the EU’s CSRD and anticipated global frameworks. GRI aims to close the ESG skills gap, especially for small and mid-sized companies, by offering affordable and accessible education. The programs promote interoperability across different standards and enable professionals to apply integrated thinking in reporting processes. GRI’s investment in ESG capacity-building underscores the need for a skilled workforce to deliver transparent, decision-useful sustainability information (source: globalreporting.com).
Emitwise joins Green Project - carbon tracking tech consolidation gains pace
Green Project Technologies has acquired Emitwise, a UK-based software platform specializing in Scope 3 carbon accounting and supply chain emissions visibility. Emitwise uses AI to help businesses measure, report, and reduce carbon footprints across supplier networks, addressing one of the most complex ESG challenges. The acquisition reflects a wave of consolidation in the ESG tech sector, as companies seek end-to-end solutions amid tightening disclosure regulations. With this move, Green Project expands its offerings from internal footprinting tools to full-scale value chain visibility. The combined platform supports companies in achieving science-based targets, improving ESG scores, and preparing for mandatory reporting frameworks like CSRD and SEC climate rules. As investor pressure for Scope 3 transparency grows, reliable carbon data is becoming a strategic asset. This acquisition strengthens Green Project’s market position and highlights the increasing demand for scalable, enterprise-grade decarbonization tools (source: greenprojecttech.com).