Orbital Marine Power will use the £7 million to build its first production model of its Orbital O2 2 MW tidal stream turbine an innovative floating tidal turbine platform that can be towed, installed, and easily maintained.
The MDBs’ commitment goes beyond specific MDBs’ 2020 and 2030 climate finance targets, and builds on their ongoing contribution to climate finance, which amounted to US$35 billion in developing and emerging economies in 2017.
The pension scheme will focus its renewable investment on solar plants and wind farms and will generate enough clean electricity for the entire population of Oxford.
The Connecticut Green Bank was established in 2011, and since then has been working to accelerate the deployment of clean energy.
In order to accomplish this objective, City pension systems will aim to double the existing $2 billion investment across all asset classes to reach $4 billion of investment in renewable energy, energy efficiency, and other climate solutions.
First in a new series of Sustainable Development Goal bonds issued by the World Bank will aim to fund projects that promote clean water and healthy oceans.
The six largest multilateral development banks spent $35 billion on climate financing in 2017, a 28 percent rise on the previous year and the highest since recording began in 2011.
Lloyd’s of London, the world’s oldest insurance market, has become the latest financial firm to announce that it plans to stop investing in coal companies.
Merchants would issue what are today called promissory notes in the form of receipts of deposit to wholesalers to avoid using the heavy bulk of copper coinage in large commercial transactions.
The coins were made from electrum, a mixture of silver and gold that occurs naturally, and stamped with pictures that acted as denominations.
