Swiss Re withdraws from SBTi validation for climate targets. The Zurich-based insurance giant maintains its commitment to achieving net zero greenhouse gas emissions by 2050, despite stepping back from the Science Based Targets initiative and facing potential antitrust concerns raised by U.S. political figures….

Akaysha Energy secures A$300 million corporate debt facility. The Australian battery storage developer will use the funds to advance its projects in Australia, the U.S., Japan, and Germany, aiming to enhance energy storage capabilities crucial for the clean energy transition….

Xampla secures $14 million to replace plastics with plant-based alternatives. UK-based Xampla, a University of Cambridge spin-out, raised $14 million to scale its plant-based materials, aiming to replace billions of single-use plastic items over the next five years. The funding will support expansion into Asia Pacific and Europe….

California issues new guidance for climate risk disclosure regulation. The California Air Resources Board has released a draft checklist to assist companies with revenues over $500 million in preparing reports on climate-related financial risks under SB 261, required by January 1, 2026….

Netflix partners with AFF to purchase carbon credits. The American Forest Foundation and Netflix have signed a 15-year agreement to support the Fields & Forests project, transitioning underused fields in the U.S. South into forests, enhancing carbon capture efforts….

PFZW alters investment manager lineup, withdrawing €29 billion mandates. The Dutch pension fund PFZW has restructured its investment strategy, focusing on sustainability and active management. This includes not renewing mandates with BlackRock and LGIM, aligning with its Investment Policy 2030….

David Crane appointed CEO of Generate Capital, succeeding Scott Jacobs. Generate Capital aims to leverage opportunities in the evolving energy market with Crane’s leadership. The firm focuses on sustainable infrastructure across sectors like energy, mobility, and water….

Sphera secures significant investment from Neuberger Berman for growth. Blackstone-backed Sphera announced a growth investment from Neuberger Berman Capital Solutions to accelerate innovation and expand globally. Blackstone retains a majority stake while Sphera aims to enhance its sustainability and risk management solutions….

SBTi releases draft Power Sector Net-Zero Standard for companies. The new standard requires companies to phase out unabated fossil fuel capacity and cease investments in such assets, aiming to align the power sector with net-zero goals by 2050….

Deutsche Bank updates its Transition Plan to reaffirm climate goals. The bank remains committed to its net-zero targets despite global banking shifts. It highlights initiatives like Divisional Carbon Budgets and risk management integration to achieve sustainability….