Nedbank leverages additional tier one instruments to help drive a net-zero economy

To strategically finance the transition to a net-zero economy, financial services provider Nedbank has once again approached the investment market to raise ‘use-of-proceeds’ green finance, this time through the issuance of the first listed green additional tier one instrument by a financial institution in Africa. The equivalent notional amount of funding raised through the green additional tier one issuance will be directed strategically to support the financing of new green infrastructure projects in South Africa.
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Consortium unveils plans for zero-emission Eastern Cape e-methanol plant

An agreement for the development of a greenfield facility in Humansdorp, in the Eastern Cape, to manufacture zero-carbon e-methanol for sale locally and for export has been concluded by a consortium comprising Earth and Wire, ENERTRAG South Africa and 24Solutions. The proposed facility will produce e-methanol by combining green hydrogen, produced through an electrolyser using renewable electricity and desalinated seawater, with a synthesis gas, derived from a mixed feedstock of locally sourced biomass and unrecyclable municipal solid waste fed into a gasifier.
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Affected parties invited to comment on Eskom’s latest ash, gypsum disposal proposal

The Department of Forestry, Fisheries and the Environment (DFFE) has published, for comment, a draft amendment report on a proposed ash and gypsum co-disposal facility owned by State-owned power utility Eskom.

The Integrated Environmental Authorisation initially issued by the department in 2015 has since been amended three times.

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Steel giant to harness green hydrogen, renewables to produce zero-carbon steel

Steel group ArcelorMittal has signed an undertaking with the Spanish government in support of a €1-billion plan to construct a green hydrogen direct reduced iron (DRI) plant and a new hybrid electric arc furnace (EAF) at its facility in Gijón, in Asturias, as part of a pioneering move to transition the company’s Sestao plant, also in Spain, to a net-zero facility by the end of 2025. The proposed development has been outlined in a memorandum of understanding, signed this week, in which ArcelorMittal indicates that its Sestao plant is set to become the world’s first full-scale steel plant to manufacture zero carbon emissions steel.
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