Reuters reported that the White Summit secured over $360 million for decarbonization efforts. The infrastructure investment firm projects it will reach its €500 million ($525 million) target in the next few months.
Decarbonization of transportation industries and funding renewable projects are some of the main targets of this fund. Pablo Pallas and Gonzalo Lopez told Reuters they may be able to raise as much as €750 million ($786 million). By focusing on smaller projects, the fund will help infrastructure companies that often get overlooked.
So far, the fund has investors from Europe and the United States and may be able to add Canada to the mix as it rounds out the second quarter.
Understanding how to acquire more funding for this environmentally friendly initiative, Pallas told Reuters, “Investors want to see the deals, they just don’t want to sign a blind check and see what you do the next two years.”
Some major additions include the French energy efficiency specialist, Powesco, and the European Investment Fund, which committed €150 million ($157 million).
By investing in companies that focus on decarbonization, the fund’s initiative can help lead to a cleaner planet that can heal itself over time. That’s because decarbonization infrastructure focuses on moving away from dirty energy sources like coal and natural gas to using renewable sources such as solar panels and windmills. If such energy use becomes standard, it can help reduce the increasing planetary heat linked to destructive weather patterns, from large hurricanes to forest fires.
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Per Net-Zero Northwest’s analysis report in 2023, successful decarbonization pillars include focusing on clean electricity, energy efficiency, clean fuels like those mentioned above, and capturing carbon dioxide pollution when feasible.
While the report may focus on the northwestern region of the United States, these pillars can apply to any company leading such a charge in any part of the world.
How does this help consumers? There are eco-friendly initiatives from some of your favorite brands that make it easy to reduce your carbon footprint. Start reducing landfill waste by trading in old clothing for rewards or store credit through Trashie. Network efficiently with digital business cards from UNIQODE while cutting down on paper and saving a few trees.
Are you interested in tiny homes but worried about needing dirty energy sources? Check out the startup Cosmic Buildings, which builds self-sustaining tiny homes that use solar power and water recycling.
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