Climate Finance Roundup - January 16
EIB funds Semiconductors R&D, Spanish rail infra; Canada invests in sustainable crop research; France-Angola cooperation to protect biodiversity; Google Open Call ofr Gn AI; Corvallis Tech Hub funding
In this newsletter:
EIB Loan for NXP Semiconductor Innovation in Europe
EIB invests €350M in sustainable Spanish rail infrastructure
Canada and Saskatchewan Invest $14.8M in Sustainable Crop Research
Canada commits $14M to Burlington for public transit
Canada's Carbon Rebate Boosts Canadians' Finances
France-Angola Cooperation: Climate Change, Biodiversity, and Irrigation
Google.org’s Generative AI Accelerator Supports Sustainability
Germany Funds STDF to Boost Food Safety and Climate Resilience
Corvallis Tech Hub gets $45M for microfluidics
US GSA awards $210 million for energy conservation in National Capital Region
IMF supports Côte d’Ivoire for Climate Adaptation and Economic Growth
REITs Invest Billions in Sustainability Initiatives in 2024
EIB Loan for NXP Semiconductor Innovation in Europe
(January 15)
The European Investment Bank (EIB) provided a €1 billion loan to NXP Semiconductors to support its research and development in semiconductors across Austria, France, Germany, the Netherlands, and Romania until 2026. The loan aims to bolster Europe’s semiconductor ecosystem, focusing on energy efficiency and contributing to the EU Chips Act and sustainability efforts. Semiconductors are key to the digital and green transitions.
EIB invests €350M in sustainable Spanish rail infrastructure
(January 14)
The European Investment Bank (EIB) has provided a €350 million loan to Adif and Adif AV in Spain to improve the safety, sustainability, and resilience of railway infrastructure. The investment will support the renewal of key components, updating communication systems, and climate change adaptation measures. Total investment supported is over €830 million.
Canada and Saskatchewan Invest $14.8M in Sustainable Crop Research
(January 15)
The governments of Canada and Saskatchewan invested $9.4 million (plus $5.4 million in co-funding) in 53 crop research projects through Saskatchewan’s Agriculture Development Fund (ADF) under the Sustainable Canadian Agricultural Partnership. Research areas include soil carbon sequestration, wheat stem sawfly resistance, and pea-based beverage effects on bone health.
Canada commits $14M to Burlington for public transit
(January 15)
The Canadian government has committed nearly $14 million to the City of Burlington over 10 years (2026-2036) through the Canada Public Transit Fund’s Baseline Funding stream. This funding will support improvements to Burlington’s public transit system, aiming to meet the needs of a growing population and contribute toward upgrading infrastructure. The investment is part of a broader federal commitment exceeding $30 billion for public transit and active transportation projects since 2015.
Canada's Carbon Rebate Boosts Canadians' Finances
(January 14)
Canada has announced the latest quarterly Canada Carbon Rebate payment to households in provinces using the federal carbon pricing system. An average family of four will receive between $190 and $450, with rural residents receiving an additional 20% supplement. The program aims to reduce pollution, support green investments, and create jobs, contributing to one-third of Canada’s emissions reductions by 2030.
Canada invests $7.2M in Milton’s public transit for sustainability
(January 14)
The Canadian government has committed over $7.2 million to the Town of Milton over 10 years (2026-2036) through the Canada Public Transit Fund. This funding will improve Milton’s public transit system, reducing pollution and traffic congestion. The investment is part of a broader $30 billion commitment since 2015 for public transit and active transportation projects.
France-Angola Cooperation: Climate Change, Biodiversity, and Irrigation
(January 15)
France and Angola signed several agreements including a Memorandum of Understanding (MoU) in the biodiversity field to implement the Palanca Yetu project for protecting biodiversity in Angola, with a budget of €4 million, and a MoU for an irrigation project with a €100 million loan from the French Development Agency to improve food security. France also reiterated its commitment to better representation for Africa on the UN Security Council and addressing climate change.
Ministry for Europe and Foreign Affairs, France
Google.org’s Generative AI Accelerator Supports Sustainability
(January 15)
Google.org launched a $30 million Generative AI Accelerator in 2024, supporting 21 organizations. In 2025, Google.org is launching a global open call for the second cohort. Selected organizations will receive technical training, Google Cloud credits, pro-bono support, and funding.
Germany Funds STDF to Boost Food Safety and Climate Resilience
(January 15)
Germany's Federal Ministry for Economic Cooperation and Development (BMZ) contributed EUR 600,000 to the Standards and Trade Development Facility (STDF) to help developing economies meet international food safety standards and improve market access. This supports the STDF's 2025-2030 strategy, focusing on strengthening sanitary and phytosanitary (SPS) capacity, addressing climate change effects, and promoting sustainable development in agricultural and food systems.
Corvallis Tech Hub gets $45M for microfluidics
(January 14)
US-based Corvallis Microfluidics Tech Hub received $45 million to develop and manufacture microfluidics technologies for AI computing, semiconductor manufacturing, and disease research. The funding will be used to renovate and equip research spaces on the HP campus, and support startups in scaling their technologies. This is the third award received from the Economic Development Administration.
Oregon State University | U.S. Department of Commerce
U.S. GSA awards $210 million for energy conservation in National Capital Region
(January 14)
The US General Services Administration (GSA) awarded a $210 million contract to CEG Solutions, LLC for energy and water upgrades in multiple GSA facilities in the National Capital Region. This leverages $116,416,197 in Inflation Reduction Act funding for deep energy retrofits, building electrification, and using American-made low-embodied carbon materials. The project aims to reduce energy costs by $450 million, cut greenhouse gas emissions, and convert nine buildings to electric power, achieving an estimated annual energy savings of 66,920 MMBtu and water savings of 2,666 kGal.
U.S. General Services Administration
Côte d’Ivoire: Climate Adaptation and Economic Growth
(January 14)
Côte d’Ivoire has made significant economic progress, but faces challenges in achieving stronger and more inclusive growth. The IMF is supporting the country's efforts through the EFF, ECF, and RSF programs. A US$1.3 billion RSF arrangement focuses on integrating climate change into public finance, strengthening governance of climate policies, and building resilience to climate hazards. The government is also prioritizing improving the business climate and increasing private sector involvement.
International Monetary Fund (IMF)
REITs Invest Billions in Sustainability Initiatives in 2024
(January 14)
US-based Extra Space Storage Inc. invested $30 million in new solar projects in 2024 to achieve 90% utility consumption with solar, targeting a 12% ROI. Veris Residential, Inc. invested $30 million in Liberty Towers refurbishment, aiming for high-teens IRR. Ventas, Inc. invested $300 million in 215 senior housing projects, resulting in over 530 basis points occupancy growth. Simon Property Group invested over $300 million redeveloping Phipps Plaza, expecting high single-digit stabilized returns.
Calumet Reports Q4 2024 Results, Highlights Sustainable Fuel Progress
(January 14)
US-based Calumet, Inc. announced preliminary fourth-quarter 2024 results, including a net loss between $54 million and $24 million and Adjusted EBITDA between $45 million and $60 million. The company highlighted the closing of its Department of Energy loan and operational milestones at Montana Renewables, achieving a 50 million-gallon annualized SAF run rate. Calumet plans to deleverage in 2025, paying down 2026 notes and reducing financing costs. Capital expenditures are projected between $50 million and $70 million in the specialties business and $10 million to $20 million at Montana Renewables, with MaxSAF spending of $40 million to $60 million (45% funded from MRL operating cash flow).
Brazil's Debt Restructuring Program Includes Climate Change Mitigation
(January 14)
Brazil's President Lula da Silva partially sanctioned the Complementary Law No. 212/2024, establishing the Full Payment Program for State Debts (Propag). The program aims to restructure state debts, offering discounts on interest and a 30-year payment plan. It also includes a federative equalization fund to support fiscally sound states. The goal is to improve infrastructure, public safety, education, and address climate change.
Germany's Dirty Bauxite Imports: Sustainability Concerns and Shifting Supply Chains
(January 14)
Germany's Federal Ministry for Economic Affairs and Climate Action secured a loan of over €248 million for a Guinean bauxite mine expansion, despite criticism regarding environmental standards and human rights. Bauxite imports from Guinea decreased to 71% in 2023, while imports from China increased to 15%.
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