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News round-up: EU offshore wind push, muni green project fund, sovereign ESG data set ... and more

European Commission vice-president Frans Timmermans encouraged EU member states to use funds from the €750 billion Next Generation EU fund to make targeted investments in the space to "unlock the necessary private financial flows" to power the expansion.

Nuveen Global Impact Fund makes first investment

Nuveen Global Impact Fund has invested in battery storage technology firm Advanced Battery Concepts (ABC), representing its first investment after securing a first close in July.

ESG ETF assets could hit over 3% of market by 2029, Morgan Stanley

Rapid growth of assets in environmental, social and governance (ESG)-focused exchange traded funds (ETFs) could see them hit almost $600 billion - equivalent to around 3.2% of the total market - by 2029, according to Morgan Stanley.

GISD calls for blended finance fund for increased UN SDGs funding

The UN-convened Global Investors for Sustainable Development (GISD) Alliance has developed more than 60 proposals calling for the UN Sustainable Development Goals (SDGs) to receive accelerated funding, including through data standardisation and a blended finance fund.

Danish pension fund commits $50m to Nuveen impact strategy

Nuveen has raised $150 million at first close of its private equity Global Impact Strategy, including $50 million from Denmark's Velliv.

Phenix sees growth in affordable housing impact funds

Phenix Capital has observed a significant increase in the number of impact funds being raised to invest in affordable housing in recent months - and predicted that the trend is set to gather pace post-pandemic.

Sustainability-linked Bond Principles mark new era for bond market

A set of Sustainability-linked Bond Principles (SLBP) was launched today, in a landmark move that is expected to kickstart a new market of labelled bond issuance that will "complement rather than act as an alternative" to the green bond market.

The Nuveen approach to impact

Rekha Unnithan says Nuveen's years of experience differentiate it from the new kids on the block billion-dollar impact funds, reports Michael Hurley

People Moves, 29 November

HSBC: Enel SDG bonds could be a 'backward step'

HSBC has weighed into the debate on Enel's sustainability-linked bond, criticising the offering as a backwards step because its proceeds are not earmarked for green projects.