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- 1Citi closes $72M carbon-removal note for Applied Carbon▼Citi closes first $72M carbon-removal note for Texas biochar startup Applied Carbon
Citi has completed its first $72 million carbon-removal note, with the proceeds going to Applied Carbon, a Texas startup that produces biochar to lock carbon into soil. The deal is being noted as an early example of structured finance being used to fund carbon removal, and a signal that banks are becoming more directly involved in the climate-finance market.
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The Japan Times argues in an editorial that the Japan International Cooperation Agency and the World Bank should place poverty reduction at the centre of their development work. The piece calls on the two institutions to direct funding and policy toward the world's poorest communities rather than broader priorities, adding to ongoing debate over how international lenders balance growth, climate and equity goals.