Green Climate Fund Approves Record $3.3 Billion as EU Scraps Green Claims Directive

The Green Climate Fund approved a record $3.3 billion in climate investments this week, the largest single tranche in the fund's history, even as the European Commission scrapped the Green Claims Directive and EU lawmakers moved to weaken CO2 emissions reduction requirements for cars.

The week delivered regulatory movement in four jurisdictions and more than $2 billion in fresh corporate and institutional capital commitments. The numbers below separate built and announced commitments, with the filings and companies behind each claim.

What did regulators decide?

The EU Commission formally scrapped the Green Claims Directive, the proposal that would have imposed verification requirements on corporate environmental marketing claims. EU lawmakers separately voted to water down CO2 emissions reduction requirements for cars. On the simplification track, EU regulators proposed changes to taxonomy reporting rules for banks, insurers and investors.

The UK moved in the opposite direction on two fronts. It announced a mandatory supply chain human rights due diligence law, and it brought ESG ratings providers under formal regulation for the first time.

Brazil released roadmaps to phase out fossil fuels and end deforestation. Just months after switching corporate sustainability reporting to a voluntary basis, the government is reconsidering a mandatory requirement.

Thailand introduced mandatory ISSB-aligned sustainability reporting for public companies, adding an Asian jurisdiction to the ISSB adoption column.

Where did the capital land?

Sustainable finance produced the week's largest tickets:

• Deutsche Bank and Rabobank backed $936 million in financing for battery storage expansion in Germany.
• Norway's NBIM acquired a $300 million stake in Aypa Power, its first direct investment in battery storage.
• Outrigger Impact launched a $100 million blue economy fund.
• Bank of America, the Sustainable Markets Initiative and Eurazeo launched a new biodiversity solutions fund.
• APG committed €500 million to sustainable European infrastructure alongside Equitix.

On the corporate side, Google committed $160 million to water projects in Malaysia, tied to its AI infrastructure buildout in the country. Walmart backed home battery startup Base Power. EV truck platform Harbinger raised $240 million to expand into energy storage and defense.

Which companies moved on decarbonization?

Ahold Delhaize reached a 100 percent renewables milestone, closing a new clean energy deal to cross the threshold. Logitech launched a supply chain decarbonization program targeting emissions beyond its own operations. Holcim invested in carbon storage startup 44.01, extending the cement producer's decarbonization portfolio into mineralization.

The services layer grew in parallel. Deloitte launched a solution designed to help companies avoid greenwashing — a commercial response to the enforcement risk the scrapped EU directive once promised to codify. Isometric launched a CBAM data preparation and reporting service for exporters facing the EU carbon border mechanism. ESG Playbook introduced a tool to quantify climate and energy risk for real estate. Seedling acquired carbon accounting platform Go Climate Positive.

Who changed roles?

Three appointments marked the week. BCG named Jan Philipp Bender global leader of its Climate & Sustainability practice. Impact investing platform Builders Vision appointed Matt Knott as CEO. Compliance software firm Osapiens appointed Stephan de Barse as president.

What happens next?

Three deadlines and decisions now decide the trajectory. The UK's due diligence law and ESG ratings regime both require implementing rules before they bind companies. Brazil must choose between voluntary and mandatory reporting, a decision that follows its scrapped requirement by months. Thailand's ISSB-aligned mandate takes effect for listed companies on a timetable the securities regulator will set.