Focus on Business
The Bahamas will refinance part of its debt to protect its famous turquoise waters
It is the fifth such debt-for-nature swap in the world.
UK pledges £239m to forest-rich nations to fight climate change at Cop29
It comes as part of the UK’s commitment to deliver £11.6 billion in carbon finance by 2026.
Northvolt CEO steps down, saying group needs up to $1.2 billion
Northvolt went from being Europe's best shot at a home-grown electric-vehicle battery champion to struggling to stay afloat within a year.
Indigenous leaders travel to UK from Peru to draw attention to oil damage and banking
In the last decade, there were 89 leaks from the Petroperu pipeline running through the Amazon Rainforest.
Exxon Mobil pulls out of talks with Guyana over shallow water oil block
Exxon exits Guyana talks on shallow-water block S8, citing plans for carbon capture; Hess and CNOOC’s involvement remains unclear.
Sweden’s Northvolt files for bankruptcy, in blow to Europe’s EV ambitions
Northvolt files for U.S. Chapter 11 bankruptcy, seeking to restructure $5.8B debt while securing $245M to sustain European battery hopes.
As N.L. firm pivots, scientists say Canada’s green hydrogen dreams are far-fetched
Doubts grow over Atlantic Canada’s green hydrogen plans as experts question costs, efficiency, and Europe’s demand for wind-powered ammonia.
Automakers urge Trump to preserve EV tax credits, boost self-driving cars
Automakers urge Trump to retain EV tax credits, ease emissions rules, and support self-driving tech amid rising competition from China.
Global climate funds set for first annual outflows, Morningstar says
For the first time, global climate funds face net withdrawals, with $24B pulled in 2024 amid poor returns, greenwashing, and anti-ESG sentiment.
