Kempen Capital Management, the investment manager of wealth manager Van Lanschot Kempen,  announced today the appointment of Herman Kleeven as Investment Lead for its Sustainable Equity team.

Kempen’s sustainable equity strategy is primarily created for long-term investors, and provides the opportunity to invest in a portfolio of global publicly traded shares of companies open to stakeholders and ESG criteria in their strategy. The strategy invests in a concentrated portfolio of companies that comply with a strict sustainability criteria, selecting high quality companies well aligned with the transition to the sustainable economy.

Kleeven joins Kempen from APG Asset Managament, where he led the Focus Equities team for nine years. Prior to this, he spent ten years at financial service provider ING, where he was responsible for the equity participation portfolio of ING insurance. Kleeven has also previously served at  ING Investment Management, where he was one of the initiators of its sustainable equity strategy.

Kleeven will take over the role of investment lead from Richard Klijnstra, who is leaving the firm to join a healthcare education program. He will also be responsible for overseeing the consumer sectors.

Erik van Houwelingen, Member of the Management Board of Van Lanschot Kempen, responsible for Investment Strategies & Solutions, said:

 “We are very pleased that Herman is joining our team. Our Global and European Sustainable Equity strategies are doing well, with a strong five-year track record and currently €1 billion in assets under management. With his broad knowledge and experience, Herman will help us take this success further and will contribute to the realisation of our international growth ambitions. We wish Herman every success in his new role.”

International energy company Occidental (Oxy), and its carbon capture, utilization and sequestration platform subsidiary, 1PointFive, announced today plans to begin construction on a massive Direct Air Capture (DAC) plant in the Texas Permian Basin.

With capacity to capture up to 500,000 metric tons of carbon dioxide per year at launch, and the potential to scale up to 1 million tons, the facility would by far be the largest DAC project in the world to date.

DAC technology, listed by the IEA as a key carbon removal option in the transition to a net zero energy system, extracts CO2 directly from the atmosphere for use as a raw material or permanently removed when combined with storage. According to the landmark IPCC climate change mitigation study released earlier this year, scenarios that limit warming to 1.5°C include carbon dioxide removal methods scaling to billions of tons of removal annually over the coming decades, with DAC positioned to potentially account for a significant portion of the total.

Vicki Hollub, President and CEO, Oxy, said:

“The construction of Oxy’s first DAC plant is an important milestone on the pathway to achieving our net-zero ambitions and helping the world meet the Paris Agreement’s climate goals.”

The first stage of construction on the facility, which includes site preparation and road work is intended to start later this year, and start-up is expected in late 2024. Occidental has made an agreement with renewable energy platform Origis Energy to provide zero-emission solar power for the DAC plant and other projects.

Richard Jackson, President, U.S. Onshore Resources and Carbon Management, Operations, Oxy, said:

“Construction of this transformative facility begins our journey toward providing commercial-scale DAC solutions that reduce and remove carbon emissions. This plant’s development is rooted in our carbon management expertise, strong record of delivering major projects and existing infrastructure that supports the commercialization of carbon capture, utilization and storage technologies.”

1PointFive said that it has partnered with climate solutions company Carbon Engineering to commercialize and deploy DAC technology at scale, and has agreed on substantive terms with Worley for engineering, procurement, and construction (EPC) services, expecting to work toward a definitive agreement for the EPC contract by the end of the year. 1PointFive has announced a scenario to deploy 70 DAC facilities worldwide by 2035 under current compliance and market scenarios.

Packaging company Sealed Air (SEE) announced an investment of $9 million in a 3.5 MW solar farm to power its manufacturing facility in Madera, California. According to Sealed Air, the project will help reduce energy spend at the facility by $1 million annually.

The new ground mount solar project includes 8,975 solar panels, which sit on 11 acres of land, and a 770 kW/3,080 kilowatt-hour battery storage system. Over its first year, the project will help avoid about 4,982 metric tons of CO2 and 72,172 metric tons of CO2 over 15 years, equivalent to the GHG emissions from over 15,000 passenger cars driven for a year.

TotalEnergies, which recently acquired the Commercial & Industrial Solutions (CIS) business of solar and storage company SunPower for $250 million, partnered with Sealed Air on the design and installation of the solar project.

Eric Potts, Vice President of TotalEnergies Distributed Generation USA, said:

“TotalEnergies is proud to be SEE’s energy transformation partner as they invest to achieve ambitious sustainability targets. Renewable energy is a business priority for both of our companies, so we are thrilled that this project will deliver long-term benefits to SEE’s Madera facility while advancing global progress toward carbon neutrality.”

The new project will provide 98% of the electricity for the facility which produces products including BUBBLE WRAP brand cushioning, SEALED AIR brand Korrvu retention and suspension packaging, and mailers.

Emile Chammas, Sealed Air’s Chief Operating Officer, said:

“The installation of these solar panels contributes to SEE’s overarching sustainability strategy and advances our transition to net-zero carbon emissions in our operations by 2040. Through these solar panels, we are advancing our use of renewable energy, lessening the energy intensity of operations and reducing the company’s greenhouse gas emissions.”

Global semiconductor equipment and services company KLA Corporation announced today a new series of sustainability commitments, including a target to reduce Scope 1 and 2 emissions by 50% by 2030 from a 2021 baseline, and reach net zero Scope 1 and 2 emissions by 2050. The new commitments were unveiled with the release of the company’s 2021 Global Impact Report,

KLA stated that its new climate goals have been set in reference to the Science Based Targets Initiative’s (SBTi) Corporate Net-Zero Standard Criteria. SBTi is one of the key organizations focused on aligning corporate environmental sustainability action with the global goals of addressing and limiting climate change. The organization launched its Net Zero Standard last year, setting stringent criteria which it uses to assess and certify corporate commitments to achieve net zero emissions. 

The new targets follow KLA’s commitment, announced last year, to use 100% renewable electricity across its global operations by 2030, and the issuance earlier this year of the company’s first sustainability-linked bond, with costs on the debt tied to performance against its goals to increase the use of renewable energy and cut CO2 emissions.

In addition to its newly operational emissions targets, KLA said that it is also planning to evaluate and announce progress toward the development of Scope 3 reduction targets by the end of next year.  

KLA’s impact report also highlighted some of the company’s community efforts from the past year, which included making a total of $3.9 million in grants and donating $550,000 to support COVID-19 relief in India through the KLA Foundation grants program. The company also made $530,000 in grant funding to five nonprofits in the South Bay/Silicon Valley and Metro Detroit areas through the KLA Social Equity Fund.

Rick Wallace, President and Chief Executive Officer of KLA Corporation, said:

“In 2021, we remained steadfast in our commitment to fulfill our mission of being positive stewards and living our values. Our 2021 Global Impact Report is a testament to KLA’s dedication to continuous innovation and a summary of the environmental, social and governance strides we have made in just one year.”

Renewable energy-focused power provider RWE announced today that it has acquired Polish photovoltaic (PV) development company Alpha Solar, adding 3GW to its solar project pipeline, along with a team of around 60 professionals.

The majority of Alpha’s projects are utility-scale, and are in different stages of development, with maturity ranging from early-phase to ready-to-build projects. Alpha Solar’s team will be joining RWE and they will work towards delivering the existing pipeline of solar projects and on the development of new ones.

Markus Krebber, CEO of RWE AG, said:

“The experienced development team joining RWE and the attractive project pipeline are a perfect match with our existing business. RWE is already one of the world’s leading renewable energy companies and this transaction underlines our ambition to grow rapidly and sustainably.”

According to RWE, the acquisition adds to the company’s existing global development pipeline of 10 GW in solar projects. The company stated that it also plans to build and commission new PV projects in Poland with a capacity of about 70 MWac in 2022 and 2023. RWE also operates onshore wind farms in Poland with a capacity of over 420 MW, and stated that it is pushing ahead with its portfolio expansion in onshore and offshore wind.

Terms of the acquisition were not disclosed.

Katja Wünschel, CEO Onshore Wind and PV Europe & Australia, RWE Renewables, said:

“This acquisition represents an excellent opportunity for RWE to diversify our global solar footprint, while further enhancing our local capabilities and renewables project pipeline in Poland. The country offers good locations for solar plants. We warmly welcome our new colleagues at RWE. Together with the existing team we are well positioned to implement this large-scale project pipeline in the years to come.”

McDonald’s announced today the appointment of Jon Banner as Executive Vice President and Global Chief Impact Officer.

McDonald’s launched its Global Impact Team in 2020, bringing together several key functions highlighted as critical to its purpose to foster and feed communities, including Government Relations, Communications, Sustainability, and oversight for the company’s corporate philanthropy and ESG strategy. In his new role, Banner will oversee these areas, replacing former Global Impact Officer Katie Fallon, who recently joined Fidelity Investments.

Banner joins McDonald’s after 10 years at PepsiCo, where he most recently served as Executive Vice President, Communications and President of the PepsiCo Foundation. At PepsiCo, he co-created the company’s sustainability framework, pep+, which was launched in 2021, and reworked the Foundation’s global strategy towards advancing a more sustainable food system to alleviate hunger, increase safe water access and promote economic empowerment. Prior to PepsiCo, he held Executive Producer roles at Disney/ABC.

In a statement announcing the new appointment, Chris Kempczinski, McDonald’s CEO, said:

“Jon is the perfect leader to oversee our Sustainability & ESG, Government Relations and Public Policy, Communications and International Corporate Relations functions, as well as Ronald McDonald House Charities—building on the momentum of the Impact function as we strengthen and protect our reputation around the world.

In getting to know Jon, it was immediately clear that his passion for McDonald’s is matched only by his deep and abiding values, his people-first leadership style, his geopolitical acumen, and his vast network and expertise stewarding global brands in today’s dynamic operating environment.”

Netherlands-based software startup Solar Monkey announced today that it has raised €4 million in growth capital.

Founded in 2015, Solar Monkey provides software that enables installers of residential solar panels to work more effectively and reduce the time spent on operational processes. The company’s platform, based on algorithms, aerial imagery, and 3D-models, enables customers to make an installation plan for solar panels, create solar panel quotes, and monitor solar photovoltaic (PV) systems.

Jan Pieter Versluijs, CEO, Solar Monkey, said:

“We see that the Netherlands is leading solartech innovation in terms of software. We use our knowledge to generate impact in the rest of Europe. Thanks to this investment, we are able to pursue this ambition in the highest gear.”

Proceeds from the investment will be used to continue Solar Monkey’s international expansion and to strengthen the company’s product offering. The company is currently active in the Netherlands, Belgium and Spain and soon also in Germany and England.

The investment was co-led by Helen Ventures and energy company Eneco, and was joined by current investors, 4impact capital and Innovation Quarter.

Terhi Vapola, Vice President, Head & Founder of Helen Ventures, said:

“We are very happy to invest in Solar Monkey. The company’s past growth speaks for itself. With rising energy costs and more awareness of climate change, the timing is excellent for accelerated scaling of solar solutions across new markets.”

Hans Cool, Investment Director of Eneco Ventures, added:

 “We are enthusiastic about the innovative software that Solar Monkey has developed, and see a lot of synergies with other companies in our portfolio that are active in the energy market with solar panels and heat pumps”.

Rail transport manufacturer Alstom announced today that its hydrogen train, Coradia iLint, is now being used on the world’s first 100% hydrogen-powered passenger train route. The trains, operated by Germany’s Elbe-Weser railways (evb) on behalf of operator LNVG, emit only steam and condensed water.

The new hydrogen trains are intended to replace existing diesel-powered trains.

Henri Poupart-Lafarge, CEO and Chairman of the Board of Alstom, said:

“The world’s first hydrogen train, the Coradia iLint, demonstrates our clear commitment to green mobility combined with state-of-the-art technology. We are very proud to bring this technology into series operation as part of a world premiere, together with our great partners.”

Hydrogen is viewed as one of the key building blocks of the transition to a cleaner energy future, particularly for sectors with difficult to abate emissions, in which renewable energy solutions such as wind or solar are less practical. According to Alstom, one kilogram of hydrogen replaces about 4.5 litres of diesel fuel, noticeably reducing the burden on the environment.

The Coradia iLint is the world’s first passenger train to run on a hydrogen fuel cell that generates electrical energy for propulsion. The vehicle features clean energy conversion, flexible energy storage in batteries, as well as intelligent management of motive power and available energy. On evb’s network, the trains travel at speeds of 80 to 120km/h, with a maximum speed of 140 km/h.

Gas and engineering company Linde’s hydrogen refueling system will fuel the 14 passenger trains, enabling each train to run for 1,000 km emission-free on a single refueling. The system has a total capacity of around 1,600 kg of hydrogen per day, and has been designed with the ability to integrate on-site green hydrogen generation.

Veerle Slenders, President Region Europe West, Linde, said:

“Linde is committed to making a significant contribution towards decarbonizing transport in Europe. We are proud that Linde’s innovative technology plays a key role in supporting this project and establishing a blueprint for cleaner public transport systems around the world.”

Marketing services provider HH Global announced today a series of climate targets aimed at aligning its net zero emissions goal with science-based standards. Among the new targets is a goal for the company to reduce emissions by 90% by 2040, compared to a 2022 baseline.

HH Global became a signatory to The Climate Pledge in early 2021, an initiative co-founded by Amazon and climate change-focused organization Global Optimism, calling on signatories to commit to net zero carbon across their businesses by 2040.

Since that time, many companies’ net zero commitments have come under increased scrutiny as relying too heavily on carbon offsetting as opposed to absolute emissions reductions. In October last year, the Science Based Targets initiative (SBTi) launched its Net Zero Standard, setting stringent criteria that it uses to assess and certify corporate commitments to achieve net zero emissions. According to SBTi, science-based net zero requires decarbonization of 90-95% by 2050, with neutralization of residual emissions that are not yet possible to cut. 

In order to align with the new science-based net zero standard, HH Global outlined key goals, including a 50% emissions reduction by 2030, 90% by 2040, and 10% neutralization by 2040, as well as continued investment in nature-based solutions.

The company stated that it plans to achieve its target by collaborating with clients and suppliers to encourage them to transition to renewable energy and source environmentally friendly materials, as well as work with logistics companies to ensure they use low carbon transport.

In a statement announcing the new targets, the company, stated:

“HH Global is committed to being the first-choice, global, tech-enabled creative production and procurement partner to brands seeking stronger, more sustainable growth. Therefore, it is important that we are continually assessing and improving our ESG targets and framework, aligned to UN Sustainable Development Goals.”

Power management technology provider Eaton announced today the completion of its first-ever sustainability-linked bond issuance, closing a $1.3 billion 2033 bond with terms tied to the company’s performance towards its emissions reduction goals.

Sustainability-linked securities are the fastest growing form of sustainable finance instruments, with attributes including interest payments tied to an issuer’s achievement of specific sustainability targets.

The interest rate on Eaton’s new sustainability-linked notes is subject to the achievement of a goal to achieve at least 40% reduction in absolute Scope 1 and 2 GHG emissions by the end of 2027, from a 2018 baseline.

Eaton set a series of climate goals in 2020, including a target to cut carbon emissions from its operations by 50%, enabling the company to be carbon neutral at that time, and to reduce scope 3 emissions by 15%, from a 2018 baseline. The targets were approved by the Science Based Target Initiative (SBTi). The company also set plans to invest $3 billion in R&D for sustainable solutions by 2030.

Harold Jones, Chief Sustainability Officer and Executive Vice President, Eaton Business System, said:

“Achieving our sustainability goals is as critical to our business as meeting our financial commitments, and this financing aligns both strategies. Tackling climate change requires innovative solutions, and this offering will enable us to invest in energy efficiency, renewable energy and other emissions-reduction efforts.”