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Airlines Band Together to Create Sustainable Aviation Fuel Fund
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Today: Airlines come together to get more sustainable aviation fuel to market; Carbon removal investments pick; Despite pushback, CEOs see sustainability as core to business.
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American Airlines planes are parked at Pittsburgh International Airport PHOTO: (Gene J. Puskar/Associated Press)
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Welcome back: A group of the world’s leading airlines are investing in a new sustainable aviation fuel fund with the aim of bringing new technologies to the market and lowering the emissions of flying.
The oneWorld BEV Fund will be managed by Bill Gates-backed Breakthrough Energy Ventures, a venture-capital fund dedicated to investing in startups that aim to decarbonize hard-to-abate technologies, WSJ Pro Sustainable Business reports.
Alaska Airlines and American Airlines are set to be the cornerstone investors of the $150 million fund, with other companies such as Hawaiian Airlines, IAG, Cathay Pacific and Japan Airlines also investing.
The aviation sector accounts for some 2% to 3% of the world’s emissions, but currently there remain few commercial options for decarbonization. Global supply of sustainable aviation fuel stood at one million metric tons in 2024, according to the International Air Transport Association. This represented just 0.3% of jet fuel production last year, showing the challenge the industry is facing to get supply online.
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Content from our sponsor: Deloitte
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Eating into Food Waste: Reshaping How We Produce, Distribute, Consume
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Companies that harness technology to transform the way food is produced, distributed, and consumed can drive meaningful change that unlocks value, reduces costs, and builds a more sustainable future. Read More
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Carbon Removal Investments Pick Up as Chestnut Carbon Hits $250 Million in Funding
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Chestnut signage stands on the company's Arkansas property, U.S PHOTO: (Reuters)
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The voluntary carbon market has struggled to recover from a steep contraction in recent years, with concerns over the quality of credits and accusations of greenwashing weighing on demand and pricing – but signs are emerging of a bounce back, Don Nico Forbes reports for WSJ Pro Sustainable Business.
Chestnut Carbon has raised $250 million in 2025, marking the voluntary carbon market’s largest fundraise so far this year and signaling resilient demand in a sector seeking to bounce back from a two-year slump in investment.
The New York-based company, which develops forestry projects that remove carbon dioxide from the atmosphere, said Tuesday that it secured $90 million in its latest funding round, bringing its total haul this year to a quarter of a billion dollars. The raise surpasses the $162 million secured in July by Climeworks, a developer of direct air capture technology.
Overall, investment has plummeted since 2022, when the sector saw Climeworks and peer Svante raise $650 million and $318 million, respectively. The largest investment over 2023-2024 was Heirloom Carbon’s $150 million fundraise in December.
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CEOs See Sustainability As a Core Business Risk, Despite Headwinds
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PHOTO: (AFP via Getty Images)
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Chief executives are in a tricky position as they navigate the risks and rewards of talking about sustainability. But they are linking environmental goals to business needs more than ever, according to a Bain & Company report.
CEOs now refer to sustainability as a core business risk rather than a moral imperative, according to the analysis of over 35,000 statements from 150 leading companies’ CEOs, Clara Hudson Reports for Dow Jones Risk Journal.
The report said 54% of mentions of sustainability in 2024 focused on business necessity while only 13% were more “purpose-driven,” or based on moral incentives. In 2018, the report said, 34% of sustainability mentions focused on business needs, and 26% cited loftier goals.
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“Ben & Jerry’s has been silenced, sidelined for fear of upsetting those in power.”
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— Ben & Jerry’s co-founder Jerry Greenfield said in his resignation letter, leaving the company after 47 years.
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Rivian is building a Georgia factory in the face of an EV slump (WSJ)
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It isn’t just the U.S. the whole world has soured on climate politics. (NYT)
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U.S. ‘bullying’ countries to drop climate goals, warns Al Gore (FT)
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Most corporate climate transition plans aren’t credible, study finds (Bloomberg)
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U.S. senator calls on big oil to disclose suspected lobbying over Trump plan to axe key climate rule (Guardian)
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California will fare better than other states as Trump guts climate reporting rules (LA Times)
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