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GREEN MACHINE: The fund will focus on creating markets for green technologies and bringing down production costs for green steel and green hydrogen. Backers include steel group ArcelorMittal and carmaker GM. Picture: Bloomberg/Hollie Adams
GREEN MACHINE: The fund will focus on creating markets for green technologies and bringing down production costs for green steel and green hydrogen. Backers include steel group ArcelorMittal and carmaker GM. Picture: Bloomberg/Hollie Adams

Bill goes green

A Bill Gates-backed private-public fund is preparing to invest in clean-tech projects worth as much as $15bn in the US, EU and UK, aiming to subsidise technologies at scale to help countries reach net zero emissions. Breakthrough Energy Catalyst, which has raised $1.5bn in capital from philanthropies and companies, will invest in four areas: direct air capture, green hydrogen, aviation fuel, and energy storage technologies.

Financial Times

From zero to …?

Upheaval in eurozone debt markets has left benchmark German borrowing costs on the cusp of climbing above zero for the first time in nearly three years, in a sign that investors believe major central banks are close to withdrawing their pandemic-era stimulus. The country’s 10-year bond yield traded at –0.03% this week, as a global drop in government debt prices spread to the most important reference point in European markets. Midway through last month, the gauge stood as low as –0.4%.

Financial Times

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