RENEW, M2030 to help supply chains decarbonise via USD-300m fund
License: CC0 Creative Commons
Energy efficiency financier RENEW Energy Partners and supply chain decarbonisation platform Manufacture 2030 (M2030) announced today they are expanding their existing partnership to include corporate customers from all industries and not just automotive suppliers.
The duo will make available up to USD 300 million (EUR 308m) in funding to companies from all sectors to pursue decarbonisation projects. It is the next phase of the USD-50-million Accelerate Auto programme launched in March 2022 alongside Edison Energy specifically for suppliers within the auto industry.
The partners said their collaboration seeks to address the growing number of multinational companies that commit to science-based carbon reduction targets. According to the original announcement, the programme provides flexible funding structures that include power purchase agreements (PPAs) and Energy-as-a-Service deals.
“M2030's platform for tracking and reducing emissions provides the financial industry with the critical insights and information it needs to assess decarbonisation projects. Our fully funded agreements can then make it financially compelling to move forward on these important projects," commented Charlie Lord, principal and co-founder of RENEW.