Green Markets - October 1, 2024

Oct 01, 2024

Green Markets is a daily series dedicated to highlighting events of interest that could impact investments within environmental markets.

Colombia has announced a $40 billion climate transition plan to shift away from fossil fuel dependency, focusing on eco-tourism, clean energy, and ecosystem conservation. This initiative is part of a broader strategy to address declining fossil fuel revenues and includes plans for significant international collaboration, with expectations of $10 billion from financial institutions and developed nations.

CME Group announced plans to expand its battery metals suite by launching a Spodumene CIF China (Fastmarkets) Futures contract on October 28th. This new futures contract aims to enhance hedging capabilities in the lithium value chain. The Spodumene futures will be financially settled through the COMEX.

DB Schenker and Microsoft have signed an agreement using SAF and SMF for Microsoft Cloud Logistics' inbound shipments to the United States. This collaboration aims to reduce Scope 3 emissions and includes the development of resource-efficient logistics SuperHubs and the use of alternative fuel trucks.
Eiffel Investment Group, led by French billionaire Jacques Veyrat, is expanding its biomass investments through its Eiffel Essential fund by acquiring Weiss France Energie and its service unit BSM from Groupe Roullier.

European automakers are most vulnerable to the U.S. dockworkers' strike affecting East and Gulf Coast ports, as they heavily rely on these ports for vehicle and parts imports. The strike, which halts about half of the nation's ocean shipping, threatens supply chains, especially for automakers like BMW, Volkswagen, and Volvo. While Detroit automakers like GM and Ford will be less affected. Analysts warn that a prolonged strike could force automakers to cut production due to parts shortages, driving up costs.

Macquarie's asset management division has announced plans to acquire Danish offshore wind operations and maintenance company ZITON A/S. The deal is anticipated to close by late 2024 or early 2025, pending regulatory approvals.
Masdar has finalized its acquisition of a 50% stake in U.S. renewables developer Terra-Gen from Energy Capital Partners. Terra-Gen operates a portfolio of 3.8 GW of wind, solar, and battery storage projects, with a project pipeline exceeding 12 GW.

TPG Rise Climate and Singapore's GIC have agreed to acquire Germany-based Techem Group, a provider of smart and sustainable building services, for approximately €6.7 billion ($7.4 billion). Techem, which operates in 18 countries and serves over 13 million dwellings, focuses on decarbonizing and digitizing building operations.

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