Author: omc_admin

Iraq’s electricity grid lost around 15% of its generation capacity after gas supplies from neighboring Iran were more than halved on Tuesday, highlighting the country’s vulnerability to energy shocks despite its oil wealth. Iranian gas deliveries currently stand at 25 million cubic meters per day, less than half the 55 million cubic meters agreed under a bilateral deal, Iraq’s Electricity Ministry said in a statement. The lost volumes have resulted in the shutdown of some gas-fired power plants and a loss of about 3,800 megawatts of generation.  High domestic demand combined with maintenance work in Iran was cited as the…

€23 million Series C funding will accelerate Dexter’s AI-powered trading and forecasting tools for wind, solar, and battery assets across Europe. Dexter’s software boosts revenues for clean energy producers by optimizing operations in volatile day-ahead, intraday, and imbalance markets. Backed by Klima and Mirova, the funding supports expansion into new European markets and further development of battery trade optimization tools. Dexter Energy, an Amsterdam-based climate tech firm, has raised €23 million in a Series C funding round to scale its AI-powered forecasting and trade optimization services for renewable energy and battery storage. The round was led by Alantra’s energy transition…

Insurance and investment group Allianz’s commercial insurance unit, Allianz Commercial, announced the launch of Climate Adaptation & Resilience Services (CAReS), a new platform aimed at enabling companies to identify and mitigate climate risk exposures facing their businesses. According to Allianz Commercial, the new platform comes as businesses face growing climate risk management challenges, with climate change having a severe impact on economies globally, noting that in 2024, losses from climate-related natural catastrophes such as flood, windstorm, or hail reached $327 billion, and insured losses reached $138 billion. Michele Williams, Global Head of Allianz Risk Consulting (ARC) at Allianz Commercial,, said:…

India, the world’s third-largest crude oil importer, which depends on imports for about 85% of its daily consumption, considers building three new sites to raise its strategic petroleum reserves.Engineers India Ltd, a state-run engineering consultancy, is doing feasibility studies, L R Jain, chief executive at the state company managing the reserve, Indian Strategic Petroleum Reserve Ltd, told Reuters on Wednesday.“In case of exigencies, we will be better prepared,” Jain said.Currently, India’s underground Strategic Petroleum Reserve storage has a total capacity of 5.33 million metric tons of crude oil, equal to only 39 million barrels of crude oil, or eight days’ worth of…

88% of global companies view sustainability as a value creation strategy, with measurable ROI reported by over 80%. Climate risks are reshaping operations: 57% of companies experienced climate-related disruptions in the past year; 80% are preparing to boost resilience. High investment needs remain a top barrier, but companies continue to deliver: 65% say sustainability strategies are meeting or exceeding expectations. Corporate commitment to sustainability is intensifying, with 88% of companies globally identifying it as either a primary (53%) or partial (35%) driver of long-term value creation—up three percentage points from 2024. The insight comes from Morgan Stanley’s Sustainable Signals: Corporates…

The European heatwave has moved east, threatening record temperatures in Germany, as a political row broke out in France over air conditioning.The French far-right leader Marine Le Pen seized a canvassing opportunity before the 2027 presidential election, announcing she would launch a “grand plan for air conditioning” for the nation if she won power.In parliament, Le Pen, an MP for the Pas-de-Calais in northern France, said “air conditioning saves lives”. She said there was a problem in France if public services “are unable to function because of a lack of air conditioning, unlike dozens of countries across the world”.Éric Ciotti,…

Climeworks surpasses $1 billion in total equity funding, reaffirming investor confidence in its Direct Air Capture (DAC) technology and commercial strategy. $162 million raised in 2025’s largest global carbon removal investment round, led by BigPoint Holding and Partners Group. Funding will accelerate DAC innovation, lower costs, and expand Climeworks’ CO₂ removal platform, which already holds over 6 million tons of secured supply. Climeworks, a global leader in Direct Air Capture (DAC) and carbon removal solutions, has raised $162 million in additional equity financing, marking the largest carbon removal investment round of 2025 to date. This latest raise pushes the company’s…

Zelestra’s sustainability-linked loan grows to €770 million, backed by 11 global lenders. Facility extended by one year to 2029 with improved terms and conditions. Funding to accelerate renewable energy expansion in six key global markets. Zelestra, a global multi-technology renewable energy company, has secured an additional €235 million to expand its sustainability-linked loan facility, bringing the total to €770 million. The facility, initially signed in 2023 and increased in 2024, has also been extended by one year and will now mature in 2029. Supported by 11 leading international banks — all existing lenders — the upsized facility incorporates improved terms…

The Global Reporting Initiative (GRI) announced today the release of two draft standards addressing how companies report on labor issues including disclosures on measures to tackle discrimination and to protect the human rights of workers. GRI Sustainability Reporting Standards are one of the most commonly accepted global standards for sustainability disclosure by companies, developed to enable consistent reporting across companies and industries, providing clearer communication regarding sustainability matters to a broad range of stakeholders, including investors. The GRI’s standards are developed by the Global Sustainability Standards Board (GSSB). The new draft standards include “Non-Discrimination and Equal Opportunity,” covering the causes of…

New 2040 Climate Target: EU proposes a 90% reduction in net GHG emissions by 2040 (vs. 1990), introducing flexible mechanisms including international carbon credits and permanent carbon removals. Clean Industrial Deal Aligned: The target supports industrial competitiveness, energy security, and a fair transition through new tax incentives, state aid, and CBAM simplification. Strategic Global Positioning: Reinforces EU’s Paris Agreement commitments ahead of COP30, shaping global climate leadership and sustainable investment flows. The European Commission has proposed an amendment to the EU Climate Law, setting a 2040 target to reduce net greenhouse gas (GHG) emissions by 90% compared to 1990 levels,…