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Extreme weather has cost the EU at least 1% of GDP in 2026, EEA warns
Extreme heat amplified by climate change cost the EU at least 1% of GDP in 2026, according to a new European Environment Agency briefing. Drought, wildfires and storms also disrupted transport, energy and water supplies. The report highlights low water levels on the Rhine, storm damage to transport and electricity networks, and drought-related pressure on power generation in Central and Eastern Europe. It estimates that the energy sector accounts for approximately €2 billion in annual economic losses linked to drought across Europe.
BBVA channels €120bn into sustainable business in first nine months of 2026
Spanish banking group BBVA channelled €120 billion into sustainable businesses between January and September 2026, an increase of 27% year on year. Of this amount, €38 billion was attributed to Spain. Environmental activities, including climate change and natural capital, accounted for €195 billion of the bank’s cumulative €254 billion investment in sustainable business since 2025. BBVA is targeting €700 billion in sustainable business financing and solutions between 2025 and 2029.
Bank of America and Eurazeo establish $40m biodiversity investment initiative
The Sustainable Markets Initiative, Bank of America and investment group Eurazeo have announced the Lighthouse Initiative, a $40 million investment allocation supporting businesses and projects focused on nature protection and biodiversity. Managed by Eurazeo through its Future Industries Fund III, the initiative will make minority investments in project development platforms and technology-enabled solutions. Its priorities include ecosystem restoration, regenerative agriculture, sustainable supply chains and biodiversity monitoring. “Nature is a fundamental pillar of our mandate and is the true engine of our economy,” commented Jennifer Jordan-Saifi, president and global envoy, the Sustainable Markets Initiative. “The Lighthouse Initiative will mobilise much needed private capital into nature and nature-based solutions.”
Bahrain’s Beyon to power third data centre entirely with solar energy
Bahrain-based technology group Beyon is expanding its solar energy programme to enable a third data centre to operate entirely on renewable electricity. The fifth phase of its Solar Park, developed with Almoayyed Solar, involves an investment of approximately BD544,500 and will install 2,292 solar panels across 14,000 square metres. The 1.5 MWp installation is expected to generate 2.5 GWh of electricity annually and reduce carbon emissions by more than 1,585 tonnes a year. “Data centres are increasingly fundamental to the digital economy, and we believe their continued expansion should go hand in hand with a more sustainable approach to powering critical infrastructure,” said Beyon Group CEO Andrew Kvaalseth.
Fair Trade USA receives $600,000 grant for AI-powered climate intelligence platform
Fair Trade USA has received a $600,000 grant from the Patrick J. McGovern Foundation to develop an AI-powered climate intelligence platform for agricultural producers. The system will combine certification records, audit findings, climate data and producer-generated information to provide farmers with seasonal climate forecasts, market signals and agronomic guidance. Initial development will involve coffee, cocoa and banana cooperatives in Peru, Côte d’Ivoire and Colombia. Fair Trade USA aims to reach at least 10 cooperatives and 3,000 farmers by September 2027.
Phillips 66 and Restaurant Technologies expand used cooking oil supply for sustainable aviation fuel
Phillips 66 and Restaurant Technologies have entered a long-term agreement to supply used cooking oil from restaurants for renewable fuel production at the Phillips 66 Rodeo Renewable Energy Complex in California. Restaurant Technologies collects used cooking oil from more than 45,000 restaurants, hotels, casinos and other foodservice operations across 41 markets. The feedstock will be processed into renewable diesel and sustainable aviation fuel (SAF), with the companies highlighting the potential to turn commercial kitchen waste into lower-carbon transport fuels.
Almost half of Sweden’s container truck journeys take place without a load
Research by Chalmers University of Technology has found that 44% to 46% of container truck movements in Sweden take place without a load, accounting for approximately one-third of total freight vehicle distances. Analysing transport data from 2016 to 2019, researchers found that around 77% of empty movements took place within the same region. They identified improved return-load planning, information sharing between shipping companies and better coordination of export shipments as potential ways to reduce unnecessary journeys, fuel consumption and transport emissions. “Empty transports were also significantly shorter than those with cargo. This indicates that trucks are often redirected to limit the distance with empty containers,” commented Iván Sánchez-Díaz, associate professor at Chalmers.
IFCO reports record 2.6 billion reusable packaging trips and 833,000 tonnes of avoided emissions
Reusable packaging provider IFCO has reported 2.6 billion reusable packaging container (RPC) trips during its 2026 financial year, while customers using its systems avoided 832,970 tonnes of CO₂e emissions, an increase of 13% year on year. The company’s 2026 ESG Report also recorded customer savings of 58,270 megalitres of water, 1.477 million tonnes of solid waste and 76,680 tonnes of product waste. Within its own operations, IFCO reduced water consumption per crate by 3%, while all electricity used at its operated service centres came from renewable sources.
Arevon marks ten years of operations at five US solar projects
US renewable energy developer Arevon has marked ten years of operations at five California solar projects, which collectively generate enough electricity to power more than 158,000 homes. The projects are also expected to contribute more than $44 million in property tax payments over their lifetimes, supporting local public services and infrastructure. ‘Together, these benefits demonstrate the broader value of energy projects that support grid reliability while reducing pressure on critical resources,’ the company said in a statement.