Chevron launches third renewable energy fund: Chevron Technology Ventures, the venture capital arm of Chevron Corp, has launched its third Future Energy Fund with a USD 500 mn commitment to invest in renewable energy technologies, according to a statement. The fund will focus on industrial decarbonization, emerging mobility, energy decentralization, and the circular carbon economy, as well as low-carbon fuels, advanced materials, and carbon transformation into higher value products. The initiative is part of the oil major’s efforts to diversify and reduce emissions amid growing environmental pressures. Chevron’s previous two funds, launched in 2018 and 2021, have already invested in over 30 companies.

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-

  • Singapore to raise USD 5 bn for Asian climate goals: Singapore, along with international partners, plans to raise USD 5 bn to fund climate projects in Asia under the Financing Asia’s Transition Partnership. The funding will come from public and private institutions. Neither the partners nor the projects that will receive funding have been revealed. (Reuters)
  • JP Morgan + Natixis to issue new SDG rules: JPMorgan and NatixisCorporate & Investment Banking have created new set of guidelines to help impact investors direct capital towards projects aligned with the United Nations’ Sustainable Development Goals. The Impact Disclosure Taskforce, which includes financial institutions like Bank of America and Goldman Sachs, intends to enhance impact reporting from governments and corporations to help investors identify and invest in SDG-aligned initiatives. (Bloomberg)
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