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Welcome back to the ESG News Week In Review!
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ESG NEWS SMART READ OF THE WEEK
Tim Mohin: Kamala’s Walz With Climate
Kamala Harris has a long history of supporting climate policy. This week’s announcement of Minnesota Governor Tim Walz as her running mate further solidified sustainability as an important part of the Democratic platform.
Key Impact Points:
- Climate Commitment: Harris’s choice of Tim Walz reinforces the Democratic focus on aggressive climate action.
- Mixed Reactions: Environmentalists support Walz, but some Democrats worry about losing swing state votes.
- Stark Contrast: The Harris-Walz ticket emphasizes climate action, while the Trump-Vance ticket leans towards fossil fuels.
Click here to view the full article
This Smart Read article is contributed by Tim Mohin, Global Sustainability Leader, BCG. Every week ESG News delivers smart commentary from ESG practitioners and experts to unpack issues of the week. Submit your ESG Smart Read to editor@esgnews.com
ESG AROUND THE WORLD
- EU Commission Publishes FAQ on Implementing New Corporate Sustainability Reporting Rules
- Integrity Council Tightens Standards for Carbon Credits in Renewable Energy
- China to Issue 70 National Standards for Carbon Emission Calculations in 2024
- Great Barrier Reef Facing Catastrophic Damage as Oceans Reach Hottest Temperatures in 400 Years, Scientists Warn
- UK Sets Sights on Regulating ESG Ratings to Lead in Sustainable Finance
- U.S. SEC Defends its Authority for Climate Disclosure Rule in Court
- APEC Business Advisory Council Calls for New Climate Bonds, Carbon Credit Network
CLIMATE & ENERGY TRANSITION
- Spiritus Files Permit for World’s Largest Direct Air Capture Facility, Aiming to Cut CO2 Removal Costs by 85%
- BBC’s Net Zero and Nature Positive Goals Approved by Science-Based Targets Initiative, Committing to 90% Emission Reduction by 2050
- Singapore Introduces Bill to Advance Energy Transition and Strengthen Power Sector Regulation
- Quinbrook Secures $3B for Net Zero Power Fund
- Bill Gates’ Climate VC Breakthrough Energy Raises $839M, 2024’s Largest in the Sector
- Blackstone Acquires Majority Stake in Westwood to Enhance Renewable Energy and Infrastructure
- Standard Chartered Secures $235M Green Loan for Texas Solar Plant
SUSTAINABLE FINANCE
- Citi and IFC Announce $2 billion Sustainable Supply Chain Finance Program Focused on Emerging Markets
- MUFG Launches Sustainable Finance Framework to Boost Environmental and Social Impact
- UK Sets Sights on Regulating ESG Ratings to Lead in Sustainable Finance
- Britain’s financial watchdog FCA to tap $1 bln of ‘dormant’ cash for social and green projects
- KWAP Commits $4.5 Billion to ESG Transition Assets for Sustainable Future
- Iberdrola’s USD 525M Green Bond Issuance Garners Strong Investor Demand
- BBVA Invests Record €26 Billion in Sustainable Business in Q2 2024, Surpassing Targets
SUSTAINABILITY GOALS, INITIATIVES AND ACHIEVEMENTS
- 80% of Middle East Business Leaders Have a Sustainability Strategy, But Employees Prioritize Fair Pay Over ESG Initiatives: PwC Survey
- Ørsted’s Heavy-Lift Drones Transform Offshore Wind Operations
- Climate Impact Partners Launches Program to Scale Innovative Carbon Removal Technologies
- Uber and BYD Partner to Deploy 100,000 Electric Vehicles Globally
ESG & SUSTAINABILITY REPORTING
- Microsoft Expands Sustainability Manager Tool to Include Enhanced ESG Reporting and Compliance Features
- U.S. SEC Defends its Authority for Climate Disclosure Rule in Court
- Sustainability Data Provider MioTech Seeks More Partnerships to Expand ESG Data Services Amid Tougher Disclosure Rules
- UNDP partners with GRI, GSG Impact, IFRS Foundation and ISO to establish Sustainability Disclosure and Management Hubs
- IASB Proposes Illustrative Examples to Enhance Reporting of Climate and Other Uncertainties in Financial Statements
SUSTAINABILITY LEADERS
- Allianz UK Appoints Bethany Thomas as Head of Sustainability
- PwC Appoints Ellen Walsh as Sustainability Executive Sponsor
- Gulf International Bank (UK) appoints Victoria Barron as Chief Sustainability Officer
ESG INVESTING & FUNDS
- Goldman Sachs and Stanley Capital Invest in SePRO to Drive Global Water Quality Solutions
- Blackstone Acquires Majority Stake in Westwood to Enhance Renewable Energy and Infrastructure
RESEARCH & ANALYSIS
- 80% of Middle East Business Leaders Have a Sustainability Strategy, But Employees Prioritize Fair Pay Over ESG Initiatives: PwC Survey
- 89% of C-Level Leaders Believe Ethical AI Governance Enhances Innovation, Deloitte Study Finds
- US Acknowledges 68% of Corporate Leaders are Involved in Greenwashing Practices: ERM
- Companies Advance ESG Strategies Despite Data Quality Challenges: Deloitte Report
TECHNOLOGY, ESG TOOLS & SERVICES
- Microsoft Expands Sustainability Manager Tool to Include Enhanced ESG Reporting and Compliance Features
- 3Degrees Launches Supply Chain Emission Reduction Solution to Help Food and Apparel Industries Meet Scope 3 Goals
- UNDP partners with GRI, GSG Impact, IFRS Foundation and ISO to establish Sustainability Disclosure and Management Hubs
- RMI and FedEx Launch GridUp for EV Charging Infrastructure Planning