Finance | Page 5

Sempra Infrastructure, an energy infrastructure company and subsidiary of Sempra, announced that it has entered into a memorandum of understanding (MOU).

HSBC, an investment bank, announced it will no longer provide new lending or capital markets finance for the specific purpose of projects pertaining to new oil and gas fields and related infrastructure projects when the primary use is in conjunction with new fields.

Barclays, a global bank, announced it is establishing a new energy transition group within its corporate and investment bank and will provide strategic advice to clients as they explore potential energy transition opportunities.

The Canada Growth Fund completed a precedent-setting long-term fixed price carbon credit offtake agreement of up to 1 million tons annually.

European bank ING announced it is phasing out the financing of upstream oil and gas activities by 2040 and aiming to triple new financing for renewable energy by 2025. 

Equinix, Inc., a digital infrastructure company, announced the full allocation of $4.9 billion in investment-grade green bonds for green building projects, energy efficiency and Power Purchase Agreement (PPA) projects.

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CalPERS announced a change to its sustainable investing strategy to accelerate moving the pension fund’s portfolio toward net zero where carbon emissions from investments are evenly balanced with carbon reductions.

Mitsubishi Electric Corporation announced it will issue green bonds for the first time.