The European Union (EU) achieved its cleanest energy production mix ever in 2024, as emissions were reduced by 59% compared to 1990 levels, thanks to the increase in renewable energy sources, according to an analysis by Eurelectric, submitted to AGERPRES on Thursday. According to the research, 2024 was a record year for the European energy […]
The European Bank for Reconstruction and Development (EBRD) has signed a €75 million loan agreement with Serbia for the third phase of the country’s solid waste management programme. This forms part of a wider €300 million investment cofinanced by the Agence Française de Développement (AFD). The project includes the construction or expansion of seven regional waste management […]
The European Bank for Reconstruction and Development (EBRD) is supporting the expansion of Jordan’s sanitation infrastructure by extending a financing package worth US$ 30 million (€28.5 million) to the Water Authority of Jordan (WAJ) for the construction of a new wastewater treatment plant in West Irbid. The financing package consists of an EBRD sovereign loan of up […]
Equinor, alongside project partners, has announced financial close after taking a Final Investment Decision (FID) to progress to execution phase on two of the UK’s first carbon capture and storage (CCS) projects in Teesside, the Northern Endurance Partnership (NEP) and Net Zero Teesside Power (NZT Power). “It is a major milestone to have agreed Final […]
A new report estimates that the EU’s green transition could cost €1.3 trillion annually by 2030 and €1.54 trillion annually by 2050. The high cost of the transition could require higher taxes, subsidies and possibly national green investment strategies. There are concerns about public support for the transition due to rising living costs and possible […]
Schneider Electric, the leader in the digital transformation of energy management and automation, today released two reports from its Sustainability Research Institute (SRI). These reports fill key knowledge gaps regarding AI’s impact on sustainability, particularly in energy use. The first research, Artificial Intelligence and Electricity: A System Dynamics Approach, examines four possible scenarios for AI’s […]
The European Bank for Reconstruction and Development (EBRD) is providing a US$ 30 million loan to Türkiye’s Team Agro Gıda Sanayi Ve Ticaret, helping the company to finance its first geothermal greenhouse project and meet its working capital needs. The company’s newly built geothermal greenhouse in Aksaray, which is dedicated to tomato production, will use […]
The European Investment Bank (EIB) has granted Nortegas Group a framework financing of up to €80 million to enable group subsidiary Nortegas Renovables to finance the construction of biomethane plants in Spain and launch a digital operations centre. The EIB and InvestEU-financed project will enable the development of the first phase of Nortegas Renovables’ strategic plan, […]
The European Bank for Reconstruction and Development (EBRD) is lending €18 million to Aurochs Investments, UAB, to finance the construction of Jasinskio 2, a next-generation sustainable office building in Vilnius, Lithuania. The Bank’s loan contributes to the development of sustainable commercial real estate in the Baltic states and supports urban regeneration of the city of […]
Türkiye has launched the Türkiye Industrial Decarbonisation Investment Platform (TIDIP) in Ankara today in a significant step towards achieving the country’s net-zero ambitions. The initiative is spearheaded by the European Bank for Reconstruction and Development (EBRD). The TIDIP aims to deploy $5 billion in investments by 2030, resulting in the reduction of more than 20 […]
Arab African International Bank (AAIB) today issued a $500 million sustainability bond, with investments from IFC, the European Bank for Reconstruction and Development (EBRD), and British International Investment (BII), to advance Egypt’s green transition and micro, small, and medium-sized enterprises (MSMEs). The sustainability bond is the first in Egypt – and the largest issued by […]
At the United Nations Climate Change Conference (COP29) in Baku, Azerbaijan, Multilateral Development Banks (MDBs) presented their first joint report on the circular economy: “The circular economy in motion”. The report presents 20 detailed case studies from around the world and a variety of areas ranging from waste management and food to the construction sector, […]
In the second quarter of 2024, the EU economy greenhouse gas emissions were estimated at 790 million tonnes of CO2-equivalents (CO2-eq), a 2.6% decrease compared with the same quarter of 2023 (812 million tonnes of CO2-eq). The EU’s gross domestic product (GDP) registered a 1.0% increase in the second quarter of 2024, compared with the […]
The European Commission has approved, under EU State aid rules, a €790 million (approximately RON 3.9 billion) Romanian measure to cover exceptional costs arising from the closure of the four uncompetitive coal mines of Lonea, Lupeni, Livezeni and Vulcan in the Jiu Valley. The Romanian measure Romania notified to the Commission a €790 million (approximately RON 3.9 […]
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