Return to Today's Publications

 

Newsletter:
Date Range (YYYY-MM-DD) -
Company, Industry or Technology:
  Search Tips


Comerica Launching Renewable Energy Solutions Group (Ind. Report)
Comerica Bank
Date: 2022-05-11
Dallas, Texas-headquartered Comerica Bank reports it is expanding its Environmental Services Department with the introduction of a new Renewable Energy Solutions group dedicated to growing and supporting Comerica's renewable energy business.

The Renewable Energy Solutions group allows Comerica to better align credit resources, including underwriting and approval, drive greater organizational consistency, and benefit its broader sustainability objectives by driving green loan growth and improving the accuracy of data related to the bank's renewable efforts.

Since the department's origination in 2006, Comerica's ESD has seen significant achievements in the renewable energy space. In recent years, its historical experience in financing landfill gas and biomass has naturally evolved into financing independent renewable energy generators for other forms of renewables, including those involved in the solar, wind and anaerobic digestion industries, according to the Comerica release.

Comerica is a member of the Coalition for Renewable Natural Gas, the Partnership for Carbon Accounting Financials (PCAF), a global partnership of financial institutions that work together to develop and implement a harmonized approach to assess and disclose the greenhouse gas (GHG) emissions associated with their loans and investments. Comerica Bank is a subsidiary of Comerica Incorporated, a financial services company headquartered in Dallas, Texas, with reported total assets of $89.2 billion as of March 31, 2022. (Source: Comerica Incorporated, Website PR, 5 May, 2022) Contact: Comerica Incorporated, Matt Breight, Senior VP and ESD Group Manager, www.comerica.com

More Low-Carbon Energy News Comerica Bank,  Renewable Energy ,  


Cirrus Nexus Touts TrueCarbon Accounting Tool (Ind. Report)
Cirrus Nexus
Date: 2022-05-11
New York City-headquartered cloud management company Cirrus Nexus is touting the launch of TrueCarbon, a new accounting tool which gives organizations a view of the carbon emissions associated with the cloud operations.

TrueCarbon lets companies fix an internal price of carbon, and track emissions in real time, so they can make actual changes in the location of cloud loads, in order to minimize environmental impact. The tool takes in data on carbon intensity from local utility grids, and relates that with the reported strategies of cloud providers. It also calculates energy usage based on the manufacturers' data for the servers involved and PUE from the data center operators.

The tool should allow companies to make trade-offs, and understand the carbon produced as a consequence if they move their workloads to the cheapest cloud, and set on an internal price for carbon . (Source: Cirrus Nexus , Website PR, 11, May, 2022) Contact: Cirrus Nexus, Chris Noble, CEO, 646-647-1400, www.cirrus-nexus.com

More Low-Carbon Energy News Carbon Emissions,  


Iron Mountain Tracking CO2 Emissions with ClearTrace (Ind. Report)
ClearTrace
Date: 2022-01-26
Global data center and storage provider Iron Mountain reports it will use ClearTrace energy and carbon accounting platform to track its energy usage and carbon emissions hour-by-hour, as a step towards going 100 pct carbon free.

ClearTrace will provide digital infrastructure for the analysis which will be traceable and verifiable for carbon reporting, and will help Iron Mountain work with suppliers to procure renewables that match its current hourly shortfalls.

Matching carbon hourly, instead of on an annual basis, will reduce carbon emissions tangibly, and cites a study by the Princeton Zero Lab which suggests that these measurements will make the transition to 100 pct carbon-free energy more achievable.

According to Iron Mountain , it is the first colocation data center to achieve carbon free hosting in three of its US data centers which have been using the ClearTrace platform. The method is being rolled out to seven additional sites . (Source: Iron Mountain, Website, PR, 25 Jan., 2022) Contact: Iron Mountain, www.ironmountain.com; ClearTrace, Lincoln Payton, CEO, www.cleartrace.io

More Low-Carbon Energy News ClearTrace news,  Carbon Emissions news,  


UK Biomass Power Station Reports Declining Carbon Emissions (Int'l)
Lynemouth Biomass Power Station
Date: 2021-11-22
In Northumberland, UK, the Lynemouth Biomass Power Station, the first UK coal-fired station to fully convert to biomass electric power generation , reports its CO2 emissions fell to 43 pct below grid average for 2020-21. The Station burns approximately 1.4 million tpy of woody biomass pellets, largely imported from the U.S. and Canada, to generate 420 MW of low-carbon electricity -- sufficient power for around 450,000 homes.

Lynemouth Power Station was among leading bioenergy organisations in the COP26 launch of the Glasgow Declaration on Sustainable Bioenergy aiming for the sustainable growth of the bioenergy sector to 2050 and reaffirms the commitment to sustainability principles including the management of natural resources, carbon accounting and protecting biodiversity, according to the release. (Source: Lynemouth Biomass Power Station, PR, Nov., 2021) Contact: Lynemouth Biomass Power Station, +44 191 261 1821, www.lynemouthpower.com

More Low-Carbon Energy News Lynemouth Biomass Power Station,  Woody Biomass,  Wood Pellet,  


Carbon Streaming, Infinite-EARTH Ink Carbon Credit Agreement (Int'l)
Carbon Streaming
Date: 2021-08-04
Toronto-headquartered Carbon Streaming Corp. is reporting a carbon credit streaming agreement with Hong Kong-headquartered Infinite-EARTH Limited, the developer of the industry's flagship REDD+ (Reducing Emissions from Deforestation and forest Degradation) project, the Rimba Raya Biodiversity Reserve Project in Borneo, to which InfiniteEARTH has exclusive carbon and marketing rights.

The Rimba Raya Project is expected to create over 70 million credits over its remaining 20-year crediting period, and to reduce greenhouse gas emissions by 3,527,171 tonnes of CO2 equivalent (tCO2e) per year with a total reduction of 130 million tCO2e estimated over its 30-year carbon offset project, which started in 2009.

InfiniteEARTH is a pioneer in the REDD+ industry, having developed the world's first REDD+ carbon accounting methodology, the first REDD+ project validated under the Verified Carbon Standard (VCS) and the first REDD+ project to receive "triple-gold" verification under the Climate, Community and Biodiversity Standard. The Rimba Raya Project is also the world's first REDD+ project to be verified under the newly launched Sustainable Development Verified Impact Standard (SDVista), earning the highest possible rating for demonstrating its contribution to all 17 United Nations Sustainable Development Goals (UN SDGs).

Carbon Streaming invests capital through carbon credit streaming arrangements with project developers and owners to accelerate the creation of carbon offset projects by bringing capital to projects that might not otherwise be developed. The company is focused on acquiring, managing and growing a high-quality and diversified portfolio of investments in projects and/or companies that generate or are actively involved, directly or indirectly, with voluntary and/or compliance carbon credits, according to the company. (Source: Carbon Streaming, PR,3 Aug., 2021) Contact: Carbon Streaming, Justin Cochrane, Pres. and CEO, 647.846.7765, info@carbonstreaming.com, www.carbonstreaming.com; Rimba Raya Project , www.rimba-raya.com; VCS, www.vcs.com; InfiniteEARTH, hk.linkedin.com › infinite-earth-organization

More Low-Carbon Energy News Carbon Streaming,  Carbon Credit,  REDD+,  


FACA Recommends USDA Carbon Bank Pilot Projects (Ind. Report)
Food and Agriculture Climate Alliance
Date: 2021-05-05
The Food and Agriculture Climate Alliance (FACA) has developed the following specific recommendations for how the U.S. USDA should approach a potential carbon bank -- a voluntary policy mechanism to help reduce barriers that producers and landowners face to participating in voluntary carbon markets and adopting climate-smart practices.

FACA recommends that USDA lay the foundation for a potential carbon bank by first developing a series of pilot projects aimed at:

  • Scaling climate solutions -- Pilot projects should help increase adoption of climate-smart practices that reduce, directly capture or sequester greenhouse gas emissions, and/or increase climate resilience. Pilots should deploy "critical climate infrastructure" to increase the capacity of farmers, ranchers and forest owners to adapt to climate change, while ensuring food and economic security.

  • Removing barriers to adoption -- Pilot projects should encourage the widespread adoption of climate-smart practices and critical climate infrastructure by removing barriers and making it easier for producers and landowners to adopt these practices.

  • Improving carbon accounting standards -- USDA should develop consistent and credible criteria to account for the carbon sequestration and greenhouse gas reduction benefits of climate-smart agriculture and forestry projects and practices.

  • Ensuring equitable opportunities -- Pilot projects must be developed with and provide equitable opportunities for minority, socially disadvantaged and small-scale producers.

  • Information gained from the pilots will serve two critical purposes -- First, it will help USDA build a durable foundation for a carbon bank that gains long-term bipartisan congressional support. Second, it will help USDA build confidence in how to verify the climate benefits delivered by specific practices and management approaches.

    According to the FACA, this approach will lay essential building blocks for a voluntary carbon bank that creates opportunities for all producers and landowners to participate in rapidly developing voluntary private markets and leverages private investment in agricultural and forestry climate solutions. As USDA develops a carbon bank, it must protect all existing funding for farm bill conservation and insurance programs, and it must ensure that a USDA-led carbon bank doesn't undermine voluntary private markets.

    The FACA consists of 70 member organizations representing farmers, ranchers, forest owners, agribusinesses, manufacturers, the food and innovation sector, state governments, sportsmen, and environmental advocates. These groups have broken through historical barriers to develop and promote shared climate policy priorities across the entire agriculture, food and forestry value chains, according to its website. (Source: FACA, Website PR, 3 Apr., 2021) Contact: FACA, www.agclimatealliance.com

    More Low-Carbon Energy News Voluntary Carbon Market,  Carbon Emissions,  Climate Change,  Carbon Bank,  Carbon Storage,  CCS,  


  • Carbon Terminology Refresher (Opinions, Editorials & Asides)
    Carbon Emissions
    Date: 2021-04-30
    For greater clarity, the Fifth Estate has offered the following brief clarifications of the plethora of commonly used carbon emissions related terms:

  • Net Zero Energy -- There's two ways of looking at this. The first is based on simple math, and means a building, precinct, process or region generates as much energy within its own boundaries or site as it pulls in from elsewhere over a specific period -- most often a year. The other definition is a building or precinct or region that generates 100 pct of its own energy needs on site or within its boundaries.

  • Net Positive Energy -- When a building or precinct generates more energy than it uses and shares that energy through either a local microgrid or by sending it into the main grid, it becomes energy positive.

  • Carbon Negative -- Carbon negative is used for larger scales than individual buildings, such as precincts, regions, businesses or even entire nations. It means absorbing more carbon than all combined carbon emissions within the specific area or operation.

  • Carbon Neutral -- Carbon neutral is basically a balancing act where a building, business or region sequesters or offsets as much carbon as it emits.

  • Carbon Offsets -- All offsets are not created equal -- there are dirt-cheap offsets sloshing around the global carbon market from questionable projects in far-flung places. But not only are they scientifically and ethically questionable, they also will not meet the standards required for formal third-party carbon neutral certification. The best offsets deliver co-benefits beyond just sequestering carbon, such as improving biodiversity, increasing water quality or catchment protection, generating social benefits, local economic benefits or supporting Indigenous cultural practices and knowledge.

  • Operational Emissions -- Most carbon accounting undertaken for the purposes of carbon neutral certification focus on carbon emissions generated by the operation of a building, business or region. It's not just emissions from energy or fuel use though. The Greenhouse Gas Protocol defines three "scopes" or categories of carbon emissions as follows -- Scope 1 emissions are direct emissions from "owned or controlled sources" such as a fleet of vehicles, a power plant or a manufacturing plant. Scope 2 emissions are indirect emissions from the generation of energy used within a building, plant or region. Scope 3 emissions are all the indirect emissions in a business, process or region's value chain both upstream and downstream. This would include something like methane emissions from waste sent to landfill, or the emissions from energy used to make the widgets that a business procures then retails.

  • Embodied Carbon -- Basically, almost everything we use from a smartphone to a building, has embodied carbon. Embodied or upfront carbon refers to the emissions released during the manufacture and transport of building materials, and the construction as well the end-of-life-phases of built assets. (Source: Fifth Estate Australia)

    More Low-Carbon Energy News Carbon,  Carbon Emissions,  Climate Change,  


  • CIBC Joins Partnership for Carbon Accounting Financials (Ind. Report)
    CIBC
    Date: 2021-02-26
    Following up on our 16 Dec, 2020 coverage, in Toronto, the Canadian Imperial Bank of Commerce (CIBC) reports it has joined the Partnership for Carbon Accounting Financials (PCAF), an initiative led by the financial industry to develop a harmonized global standard to measure and disclose the greenhouse gas emissions (GHG) of loans and investments. Using jointly developed GHG accounting methodologies will help the bank align its targets with the Paris Climate Agreement, according to the bank release.

    In 2019, CIBC committed $150 billion in support of environmental and sustainable finance activities by 2027 and has to date achieved 28 pct of this goal. The bank also issued the climate-related disclosure report Building a Sustainable Future aligned with the Task Force on Climate-Related Financial Disclosures.

    In 2020, CIBC issued a $500 million(US), five-year green bond to help finance new and existing green projects, assets, and businesses that mitigate the risks and effects of climate change. These include renewable energy, green buildings, clean transportation, natural resource conservation, biodiversity conservation, energy efficiency, and pollution prevention and control. Also in 2020, CIBC ranked among the top-tier of global banks for climate change action by the Carbon Disclosure Project (CDP).

    CIBC, which recently became the first Canadian bank to join RMI's Center for Climate-Aligned Finance, has more than 10 million personal banking, business, public sector and institutional clients and $768.545 billion (Cdn) in total assets. (Source: CIBC, Website News, Feb., 2021) Contact: CIBC, Nima Ranawana, 647-456-4556, nima.ranawana@cibc.com, www.cibc.com; Partnership for Carbon Accounting, www.carbonaccountingfinancials.com

    More Low-Carbon Energy News CIBC,  Carbon Emissions ,  Partnership for Carbon Accounting,  


    Bank of America Pledges Net-Zero Emissions by 2050 (Ind. Report)
    Bank of America
    Date: 2021-02-15
    With assets of $2,031,940,000, the Bank of America -- the country' second largest bank by assets -- reports it is aiming to reach net-zero greenhouse gas emissions in its financing activities, operations and supply chain by 2050.

    To that end, Bank of America will need to eliminate greenhouse gas emissions from its own operations as well as engage with its borrowers in order to "help accelerate their own transitions to net zero." The bank notes it plans to establish interim science-based emissions targets for "high-emitting portfolios, including energy and power."

    In the announcement, Bank of America laid out initial steps to cut its operational emissions by 2030, which include purchasing 100 pct zero carbon electricity and reducing energy use and potable water use by 55 pct, among other initiatives. The bank is also set to disclose its financed emissions by 2023 through the Partnership for Carbon Accounting Financials. (Source: Bank of America, PR, Feb., 2021) Contact: Bank of America, www.bankofamerica.com; Partnership for Carbon Accounting Financials, www.carbonaccountingfinancials.com

    More Low-Carbon Energy News Greenhouse Gas,  GHGs,  Bank of America,  Carbon Emissions,  Net-Zero Emissions,  


    ClearTrace Raises $4Mn for Carbon Accounting Platform (Ind. Report)
    ClearTrace
    Date: 2020-12-16
    In the Lone Star State, Austin-based energy and carbon accounting software specialist ClearTrace reports it raised $4 million in Series A financing, led by Clean Energy Ventures, a venture capital firm focused on early-stage climate tech innovations. Brookfield Renewable Partners and Clean Energy Venture Group also participated in the round.

    ClearTrace's carbon accounting platform enables auditable, 24/7 monitoring of energy generation and consumption. The platform creates verifiable digital records of energy usage, can track third party energy supply, financial power purchase agreements, demand response activities, and true multi-stakeholder management of behind-the-meter energy assets. (Source: ClearTrace, PR, 15 Dec., 2020) Contact: ClearTrace, Lincoln Payton, CEO, sales@cleartrace.io, www.cleartrace.io

    More Low-Carbon Energy News ClearTrace,  Carbon Accounting,  Carbon Emissions,  Energy Management,  


    Hannon Armstrong Joins Partnership for Carbon Accounting Financials (Ind. Report)
    Hannon Armstrong,Partnership for Carbon Accounting Financials
    Date: 2020-09-25
    Annapolis, Maryland-headquartered climate change solutions investor Hannon Armstrong Sustainable Infrastructure Capital, Inc. reports it has joined the Partnership for Carbon Accounting Financials (PCAF), a global industry-led network of more than 70 financial institutions working to establish a common carbon accounting framework. facilitate a consistent and transparent approach to assess and disclose greenhouse gas (GHG) emissions associated with loans and investments in the financial services industry.

    Launched in 2019, PCAF will offer a consistent approach to portfolio carbon accounting that provides financial institutions the information required to inform actions and strategy, set climate targets, assess climate transition risks, and disclose progress. This approach feeds into the work of other climate disclosure guidelines and reporting initiatives, such as the Task Force on Climate-related Financial Disclosures (TCFD), Science Based Targets initiative (SBTi), and CDP, according to the release.

    As of December 31, 2019, Hannon Armstrong's investments have avoided 3.2 million metric tpy of CO2e. . The company is the first U.S. public company solely dedicated to investments in climate change solutions, providing capital to leading companies in energy efficiency, renewable energy, and other sustainable infrastructure markets. With more than $6 billion in managed assets as of June 30, 2020. Hannon Armstrong's core purpose is to make climate-positive investments with superior risk-adjusted returns (Source: Hannon Armstrong, Website, PR, Sept., 2020) Contact: Partnership for Carbon Accounting Financials, www.carbonaccountingfinancials.com; Hannon Armstrong, Jeffrey W. Eckel, CEO, . (410) 571-6189, investors@hannonarmstrong.com, www.hannonarmstrong.com

    More Low-Carbon Energy News Hannon Armstrong,  Partnership for Carbon Accounting Financials,  Carbon Market,  Carbon Emission,  


    Citigroup Targets $250Bn for Low-Carbon Activities (Ind. Report)
    Citigroup
    Date: 2020-07-31
    NYC-headquartered banking giant Citigroup Inc., the 4th largest US bank by assets, reports it aims to lend $250 billion for low-carbon renewable energy, clean technology, water quality and conservation, sustainable transportation, green buildings, energy efficiency, circular economy and sustainable agriculture and land use over the next five years.

    The bank noted it is working to measure, manage and reduce the climate risk and impact of its portfolio of clients and to that end is is participating in the development and rollout of the Partnership for Carbon Accounting Financials, a framework that will help it measure the carbon footprint of its lending portfolios. Additionally, Citi is testing the methodology for the 2016 Paris Agreement Capital Transition Assessment, a tool that will enable it to look at its most carbon-intensive sectors and clients and measure their progress toward reducing global warming.

    Citigroup is also aiming for a 45 pct CO2 emission reduction reduction in its operations by 2025 from a 2010 baseline and, to that end, aims to only use renewable electricity to power its facilities globally by the end of 2020.

    In 2019, Citigroup assets totaled $1.951 trillion, equity totaled $193 billion and net income came in at $19.471 billion. (Source: Citigroup, PR, MarketScreener, 29 July, 2020) Contact: Citigroup, www.citigroup.com

    More Low-Carbon Energy News Citigroup,  Low Carbon Energy,  


    Carbon Terminology Refresher (Opinions, Editorials & Asides)
    Carbon Emissions
    Date: 2020-03-16
    From the Land Down Under, The Fifth Estate has offered the following brief clarifications of the plethora of commonly used carbon emissions related terms:
  • Net Zero Energy -- There's two ways of looking at this. The first is based on simple math, and means a building, precinct, process or region generates as much energy within its own boundaries or site as it pulls in from elsewhere over a specific period -- most often a year. The other definition is a building or precinct or region that generates 100 per cent of its own energy needs on site or within its boundaries.

  • Net Positive Energy -- When a building or precinct generates more energy than it uses and shares that energy through either a local microgrid or by sending it into the main grid, it becomes energy positive.

  • Carbon Negative -- Carbon negative is used for larger scales than individual buildings, such as precincts, regions, businesses or even entire nations. It means absorbing more carbon than all combined carbon emissions within the specific area or operation.

  • Carbon Neutral -- Carbon neutral is basically a balancing act where a building, business or region sequesters or offsets as much carbon as it emits.

  • Carbon Offsets -- All offsets are not created equal -- there are dirt-cheap offsets sloshing around the global carbon market from questionable projects in far-flung places. But not only are they scientifically and ethically questionable, they also will not meet the standards required for formal third-party carbon neutral certification. The best offsets deliver co-benefits beyond just sequestering carbon, such as improving biodiversity, increasing water quality or catchment protection, generating social benefits, local economic benefits or supporting Indigenous cultural practices and knowledge.

  • Operational Emissions -- Most carbon accounting undertaken for the purposes of carbon neutral certification focus on carbon emissions generated by the operation of a building, business or region. It's not just emissions from energy or fuel use though. The Greenhouse Gas Protocol defines three "scopes" or categories of carbon emissions as follows -- Scope 1 emissions are direct emissions from "owned or controlled sources" such as a fleet of vehicles, a power plant or a manufacturing plant. Scope 2 emissions are indirect emissions from the generation of energy used within a building, plant or region. Scope 3 emissions are all the indirect emissions in a business, process or region's value chain both upstream and downstream. This would include something like methane emissions from waste sent to landfill, or the emissions from energy used to make the widgets that a business procures then retails.

  • Embodied Carbon -- Basically, almost everything we use from a smartphone to a building, has embodied carbon. Embodied or upfront carbon refers to the emissions released during the manufacture and transport of building materials, and the construction as well the end-of-life-phases of built assets. (Source: Fifth Estate Australia, Mar, 2020)

    More Low-Carbon Energy News Carbon,  Carbon Emissions,  


  • Virginia Grassroots Coalition Calls for Removal of Biomass-Fired Facilities from Renewable Portfolio Standard (Ind. Report)
    Virginia Grassroots Coalition
    Date: 2020-02-10
    In the Old Dominions State, a letter to the Virginia General Assembly from the Virginia Grassroots Coalition, with over 40 participating member groups, calls for the removal of biogass-fired power facilities from Virginia's renewable portfolio standard, as follows:
  • Though touted as a clean, environmentally safe alternative to fossil fuels, wood pellets are a carbon-intense, destructive and polluting industry based in flawed carbon accounting in international agreements;

  • Wood pellet material sourcing leads to massive deforestation of critical habitats, and Enviva alone is responsible for 50 acres a day of clear-cut land:

  • Pellet production facilities release dangerous air pollutants including particulate matter and volatile organic compounds putting surrounding communities at higher risk for health complications.

  • Burning wood pellets releases 65 pct more CO2 than coal per megawatt hour. In order to keep global climate change below 1.5 degrees Celsius, wood pellets must not be used as an energy alternative.

    The letter also notes UK-based researchers found last year that burning wood is a "disaster" for climate change because older trees release large amounts of carbon when they are burned and aren't always replaced with replanted forests. Even when trees are replaced, it can take up to 100 years to cultivate a wooded area that soaks up as much carbon as was previously released. And the fuel burned in shipping wood pellets to Europe is also a significant source of emissions. (Source: Virginia Grassroots Coalition, 9 Feb., 2020) Contact: Virginia Grassroots Coalition, www.virginiagrassroots.org

    More Low-Carbon Energy News Woody Biomass,  


  • Banks Use PCAF to Track Investment Carbon Footprints (Ind. Report)
    Partnership for Carbon Accounting Financials
    Date: 2019-09-25
    In the EU, more than 50 banks and other financial institutions representing nearly $3 trillion in assets are reporting they will assess and disclose the impact their loans and investments will have on climate change through the Partnership for Carbon Accounting Financials (PCAF), an industry-wide effort to standardize how companies measure the carbon footprints of their investments.

    PCAF is a global partnership of financial institutions that work together to develop and implement a harmonized approach to assess and disclose the GHG emissions associated with their loans and investments. PCAF enables transparency and accountability and will develop an open-source global carbon accounting standard for financial institutions, according to a Reuters report. (Source: PCAF, euronews, Reuters, 23 Sept., 2019) Contact: Partnership for Carbon Accounting Financials, Giel Linthorst, Executive Director, +31 6 1136 6935, info@carbonaccountingfinancials.com, www.carbonaccountingfinancials.com

    More Low-Carbon Energy News Carbon Emissions,  Climate Change,  Carbon Footprint,  

    Showing 1 to 15 of 15.