Latest news with #ParisAccord
Cision Canada
6 days ago
- Business
- Cision Canada
Ivanhoé Cambridge and PIMCO Prime Real Estate announce the completion of Stonecutter Français
This prime office space in the heart of London achieved 93% pre-leasing at Practical Completion LONDON, May 29, 2025 /CNW/ - Ivanhoé Cambridge, the real estate group of CDPQ, and PIMCO Prime Real Estate announced today the completion of Stonecutter, a 13-story super-prime office building in the heart of London. This milestone represents the culmination of the redevelopment creating a state-of-the-art workspace, tailored to meet the demands of modern businesses with its optimized floor plates and sustainable features. The 240,000 sq ft office space is 93% leased to law firm Travers Smith and travel platform company Trainline. " The completion of Stonecutter and the decision by our tenants to partner with us underscore the fact that high-quality workspaces with exemplary sustainable credentials are what companies are looking for in today's evolving office landscape. This redevelopment provides increased amenities to its occupiers, helps reduce the carbon footprint of the building and offers new life to the London office sector," said Christina Forrest, Managing Director, Real Estate, Europe, at CDPQ. Niki Dembitz, Head of UK & Ireland at PIMCO Prime Real Estate, commented: " We have been consistent in our conviction that high-quality, well-located office concepts will continue to be in high demand. That Stonecutter is 93% leased on completion confirms this conviction. We're excited to be delivering this state-of-the-art office to our tenants, creating long-term value to our clients and adding to the City of London's appeal." Situated in Farringdon, one of London's most desirable and vibrant areas, the property offers easy access to transport hubs, prestigious residential neighbourhoods, shops, restaurants and the new cultural institutions soon to arrive in Smithfield. The redevelopment project successfully increased the net lettable area from the previous building by 66%. The new building is arranged over basement levels, ground, podium, and 13 upper floors, three of which benefit from expansive roof terraces. Stonecutter has been constructed with one of the lowest embodied carbon inputs of any new office building in the City of London at 581 kg CO 2 per square metre. This is a significant saving on the London Plan aspirational target of 600 kg CO 2 per square metre. The building will operate on a net zero carbon basis, benefitting from electric heating and cooling and a commitment to procure renewable power where available. The property aligns with BREEAM and WELL certifications and follows the CRREM pathway ensuring compliance with the Paris Accord and meeting the highest standards of environmental performance. Stonecutter is also forecast to emit just 263 kg CO 2 per person through occupation, which is 44% of the Paris Accord's outlined target of 600 kg of carbon emissions per person per year for real estate activities. In 2021, Ivanhoé Cambridge and PIMCO Prime Real Estate secured a major off-plan pre-let with the leading UK law firm, Travers Smith, committing to a 15-year lease on 158,000 sq. ft. The move is scheduled for March 2026. In March 2025, a second major lease of 60,000 sq ft was concluded with Trainline, the leading independent rail and coach travel platform, for a 10-year term. Trainline is set to move to its new headquarters in 2026. The redevelopment, designed by TP Bennett, was managed by CO-RE as the development manager and MACE as the general contractor. For more information on Stonecutter, visit About Ivanhoé Cambridge Ivanhoé Cambridge, the real estate portfolio of CDPQ, manages CAD 75 billion in gross assets. Through strategic alliances, it has established a global presence, holding interests in over 1,500 properties across the logistics, residential, office, and retail sectors. As a global investment group managing funds for public pension and insurance plans, CDPQ works alongside its partners to build enterprises that drive performance and progress. CDPQ is active in the major financial markets, private equity, infrastructure, real estate and private debt. As at December 31, 2024, CDPQ's net assets totaled CAD 473 billion. For more information: / About PIMCO Prime Real Estate A leading global real estate investor and manager, PIMCO Prime Real Estate is a PIMCO company and part of the PIMCO real estate platform, focusing on the Core and Core+ segments of the market and managing the Allianz group's $85B real estate mandate. PIMCO's real estate platform is one of the largest and most diversified in the world, with $174B 1 in assets and a broad set of solutions that leverage decades of expertise across public and private equity and debt markets. 1 As of December 2024. All figures in USD. AUM includes c. $90B in estimated gross assets managed by PIMCO Prime Real Estate, which includes PIMCO Prime Real Estate GmbH, PIMCO Prime Real Estate LLC, and their subsidiaries and affiliates. PIMCO Prime Real Estate LLC investment professionals provide investment management and other services as dual personnel through Pacific Investment Management Company LLC. PIMCO Prime Real Estate GmbH operates separately from PIMCO. For more information CDPQ Media Relations Team + 1 514 847-5493 [email protected] PIMCO Prime Real Estate Phillip Lee PIMCO Prime Real Estate – Media Relations Ph. +49 (0)89 3800 8234 Email: [email protected]
CTV News
6 days ago
- Climate
- CTV News
Agencies warn of looming extreme weather as planet heats up
Northern Ontario Watch Top weather agencies warn Earth faces years of record-breaking heat, with an 80% chance of new temperature highs by 2029, fueling deadly extremes like hurricanes, wildfires, and droughts – potentially surpassing the Paris Accord's 1.5°C limit.
Shafaq News
21-05-2025
- Business
- Shafaq News
Iraq turns to carbon markets to power clean energy shift
Shafaq News/ Iraq will launch its first solar-powered electricity generation plant by the end of 2025, Oil Minister Hayan Abdul-Ghani announced on Wednesday. Speaking at the inaugural of the first Conference on Carbon Economics in Iraq, held in Baghdad, Abdul-Ghani emphasized the country's growing awareness of the global climate crisis and the fast-evolving landscape of the energy sector. He stressed that reducing carbon emissions presents not only an environmental imperative but also a real opportunity to attract financing, boost technological development, and stimulate investment—particularly through carbon markets and carbon bonds. 'We have already taken concrete steps in this direction,' Abdul-Ghani stated, highlighting ongoing flare gas recovery initiatives and Iraq's commitment to ending routine gas flaring by 2029. He also noted ongoing collaborations with international markets and global partners aimed at identifying and implementing emission reduction strategies. Under the framework of the Paris Agreement, Iraq had pledged to cut its greenhouse gas emissions by 2% by 2023. According to the minister, this target has already been surpassed through a pioneering project in Basra. Abdul-Ghani revealed that several agreements have been signed with energy companies to halt gas flaring, with expectations that these initiatives will reduce thermal emissions by over 23%—exceeding Iraq's original Paris Accord commitment more than tenfold. Held under the patronage of Prime Minister Mohammed Shia Al-Sudani, the conference drew regional and international stakeholders, including diplomats and environmental experts. Minister of Environment Nizar Mohammed Saeed noted that the event aims to diversify national income sources and strengthen Iraq's green economy by tapping into carbon markets and unlocking new opportunities in climate finance. The carbon economy is built on a market-based framework that assigns value to emissions reductions. Tools such as carbon pricing, carbon credits, and emissions trading enable governments and companies to monetize their climate efforts. For oil-reliant economies like Iraq, investing in carbon market mechanisms offers a strategic pathway to diversify revenues, attract global investment, and align with international climate commitments.
Daily Maverick
15-05-2025
- Business
- Daily Maverick
Discovery Green, Sasol launch Ampli Energy to widen renewable offerings for SA business
Ampli is the latest chapter in South Africa's renewable energy drive, which has gathered pace in recent years after a long period of government inertia. Discovery Green and petrochemicals giant Sasol launched a new company on Thursday, 15 May 2025 — Ampli Energy, which aims to make renewable energy more accessible and less costly for small, medium and micro enterprises (SMMEs). Utility costs from Eskom, which provides about 90% of its power from coal-fired plants, are surging and South Africa needs to slash its carbon emissions to meet its commitments under the Paris Accord and remain competitive in a global economy that is putting a premium on going green. It is against this backdrop that Ampli Energy has been spawned to help South African business navigate the swirling currents of the green energy transition to contain the pace of human-caused climate change. 'We are on the cusp of an energy revolution,' Discovery CEO Adrian Gore said at the launch Ampli. 'SMMEs are the engine of the economy. Big businesses like ours don't create jobs.' Discovery and Sasol say that the new offering will be a 'market-first, no-fee, no-risk, no-hassle, month-to-month renewable energy product for South African businesses of all sizes'. 'Ampli Energy pays businesses monthly cash back to replace their electricity consumption with clean, grid-delivered renewable energy,' the companies said in a statement. Andre Nepgen, the head of Discovery Green, told Daily Maverick that the cash paid back to businesses came from the difference in their overall utility bill and the cheaper costs of renewable energy. The savings were divided between clients and Discovery Green, which was how it made its money. The product would be delivered through the national grid via wheeling, and Ampli itself required no infrastructure. 'Through simple, month-to-month membership any business anywhere in the country can now replace the majority of its electricity with renewable energy already flowing through the national grid, reducing carbon emissions without upfront capital requirements, installations or long-term contracts,' Discovery Green and Sasol said. 'Ampli Energy pays businesses to run on renewable energy, with monthly cash back paid directly into their bank accounts.' Ampli is the latest chapter in South Africa's renewable energy drive, which has gathered pace in recent years after a long period of government inertia. What this means for SMEs Lower electricity costs Businesses can reduce their utility bills without needing to install solar panels or other infrastructure. Monthly cashback is paid based on the savings from cheaper renewable energy. No upfront investment or long-term lock-in There's no need for capital outlay, long-term contracts, or installation hassle. This removes a key barrier that has stopped many SMMEs from going green. Greater energy access and flexibility The product is national — it can be used by businesses anywhere in South Africa as long as they're connected to the grid. The month-to-month nature gives flexibility in tough economic times. 'Ampli Energy is revolutionary. It represents a sea change in green energy,' said Minister of Electricity Kgosientsho Ramokgopa, who pointedly attended the launch. Ramokgopa said South Africa currently got 23% of its energy from renewables — most of that is from private-sector initiatives off-grid — and the target was to get that to 50% by the middle of the next decade. Ramokgopa's embrace of renewables remains in sharp contrast with Minerals and Petroleum Resources Minister Gwede Mantashe, who proclaimed in March that 'King Coal is back!' at the launch of a new colliery. 'Businesses that previously lacked the capital or capacity to invest in renewable infrastructure can now access clean energy through wheeling arrangements,' said Sasol president and CEO Simon Baloyi. Sasol's involvement in Ampli is also a boost to the attempts by Africa's second biggest carbon emitter after Eskom to coat itself in a greener sheen. South Africa is blessed with an abundance of wind and sun, and while it still has coal galore, the writing is on the wall for fossil fuel.
Yahoo
13-05-2025
- Business
- Yahoo
Renewable Energy Adoption: Key Insights for a Changing Market
NORTHAMPTON, MA / / May 13, 2025 / Given the changing dynamics in the global energy market, how businesses access and consume energy can be complicated. Geopolitical conditions, regulatory pressures, and market demand can create scenarios that can affect business operating costs and stability. One option that many businesses are evaluating is the adoption of renewable energy sources, with potential benefits ranging from brand enhancement to cost resilience. While renewables may not be the right fit for every organization, understanding the available incentives and market drivers can help inform strategic energy decisions. To better understand today's energy landscape, it's helpful to explore how renewable energy incentives have developed over time, and what they might offer businesses evaluating their energy strategies. This blog provides an overview of key financial opportunities and operational considerations, including tax breaks, long-term cost savings, and potential brand positioning benefits, to support informed decision-making about renewable energy investments. Understanding Renewable Energy Incentives and Their Evolution The global push towards renewable energy has prompted governments worldwide to introduce incentives that support businesses in adopting sustainable energy sources. Tax credits, grants, and rebates have become instrumental in making renewable energy more accessible and financially feasible for organizations of all sizes. The origins of incentive programs The groundwork for renewable energy incentives began in the 1970s, as the oil crisis steered the conversation toward the need for energy alternatives. The 1978 Energy Tax Act in the U.S. was a foundational policy that introduced tax credits for solar and wind investments. Meanwhile, in Europe, countries like Germany and Denmark launched Feed-in Tariff (FIT) programs in the 1990s, offering businesses fixed payments for renewable energy production. These FIT programs provided a reliable revenue stream, encouraging companies to invest in solar and wind technologies by guaranteeing consistent returns. These early initiatives helped build the foundation for the renewable energy market by making adoption more financially attractive, sparking a ripple effect of innovation and further investment worldwide. How incentives have evolved over time As global awareness of climate change has grown, renewable energy incentives have been adapted to drive adoption at scale, supporting a range of technologies beyond solar and wind, and aligning with global climate agreements like the Paris Accord. Key examples of today's expanded incentives include: Investment and Production Tax Credits (ITC and PTC)- United States: The ITC allows businesses to deduct up to 30% of renewable energy project costs, while the PTC, primarily for wind energy, provides credits based on energy produced. While President Donal Trump's Unleashing American Energy executive order paused clean energy-related federal disbursements, this does not currently impact these tax credits. European Green Deal (EU): Launched in 2019, this initiative provides grants and funding for businesses adopting renewable energy to help Europe reach its target of net-zero emissions by 2050. Companies can apply for funds to support renewable projects across industries, making adoption accessible and cost-effective. Canada's Clean Technology Investment Tax Credit: Canada's federal government offers a tax credit for businesses investing in clean technologies, including solar, geothermal, and battery storage systems. This program supports renewable energy adoption as part of Canada's climate strategy. Japan's Green Investment Promotion Program: To support its decarbonization goals, Japan offers financial incentives such as subsidies and low-interest loans for companies investing in renewable energy, particularly in solar and hydrogen. Today, businesses have access to a broad spectrum of tax breaks, grants, and credits that reduce the initial costs of renewable energy adoption. These include federal incentives, state and local programs, and international initiatives, making renewable energy projects more financially accessible and appealing. Key Takeaways The landscape of renewable energy incentives has evolved significantly over the past several decades, offering businesses a range of opportunities to explore sustainable energy sources. While each organization's path to renewable energy adoption may differ based on operational needs, market conditions, and regulatory environments, understanding the financial tools available-such as tax credits, grants, and rebates-can support informed decision-making. As energy markets continue to shift, staying aware of evolving policies and incentives can help businesses assess whether renewable energy aligns with their broader strategic goals. Whether the priority is cost management, risk mitigation, or contributing to broader sustainability objectives, having a clear view of available resources ensures that companies are well-positioned to evaluate all their energy options. Questions? Our team is here to help you get answers. Reach out today! View additional multimedia and more ESG storytelling from Antea Group on Contact Info:Spokesperson: Antea GroupWebsite: info@ SOURCE: Antea Group View the original press release on ACCESS Newswire Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
