Focus on Finance
Biden boosts loan for ioneer’s Nevada lithium mine to nearly $1 billion
The U.S. DOE finalized a $996M loan for ioneer’s Rhyolite Ridge lithium project, boosting domestic EV battery material supply.
BMO becomes first Canadian bank to withdraw from Net-Zero Banking Alliance
BMO becomes the first Canadian bank to exit the NZBA, following similar moves by major U.S. lenders under political pressure.
US clean energy tax subsidies to cost $825 billion over 10 years, CBO says
U.S. clean energy subsidies under Biden's Inflation Reduction Act to raise deficits by $825B over the next decade, CBO says.
Federal Reserve withdraws from global regulatory climate change group
The Federal Reserve exits global climate risk group NGFS, citing its scope as beyond the Fed's statutory mandate.
Biden protects 84% of IRA clean energy grants from being clawed back
Biden secures 84 per cent of $96.7B in clean energy grants under the IRA, shielding funds from Trump's planned clawbacks.
Renault 2024 sales volumes grow 1.3%, helped by hybrids
Almost 20% of Renault's sales this year will need to be electric vehicles to comply with EU emissions targets.
Chipmaker NXP gets 1 billion euro loan from EIB for European projects
NXP secures €1B EIB loan for R&D in five EU countries, focusing on semiconductors, energy efficiency, and critical technologies.
Investigation: How mega-polluters take advantage of billions in green loans
Sustainability-linked loans are under scrutiny for enabling major polluters to avoid accountability while expanding harmful operations.
IFC says world must urgently streamline green bond ‘taxonomies’
World Bank calls for unified green bond definitions to secure funds for the green transition, amid concerns over US policy shifts.
Ottawa pauses EV rebates as federal program runs out of money
Ottawa has paused an incentive program that offered Canadians rebates of up to $5,000 when buying or leasing electric vehicles.
