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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: Calls for Carbon Market Regulation Grow Amid Climate Disasters
With the 29th “Conference of the Parties” – (COP29, the global climate confab) – just around the corner, countries are planning to leverage the event to revive the beleaguered Voluntary Carbon Market (VCM).
Key Impact Points:
- Need for Regulation: COP29 will push for stricter national and global VCM regulations.
- Fraud Scandal Impact: Kenneth Newcombe’s indictment intensifies calls for VCM reform.
- Biden’s Global Plan: New U.S. guidelines aim to boost VCM integrity and fund climate action
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
- Canada To Set Mandatory Climate Disclosure Criteria for Large Private Companies
- Canada To Launch New Sustainable Investment Taxonomy to Drive Net-Zero Progress
- Zara, H&M, Ikea and Primark to Launch Textile Waste Pilot Ahead of EU Regulations
- Deloitte Launches LEAP Dashboard to Boost Nature-Related Risk and Impact Management
- BP Revises Strategy: Abandons 2030 Production Cut Target to Focus on Oil and Gas
- High Court Blocks Plans for the UK’s First Deep Coal Mine in Over 30 Years
- Uber Launches AI Assistant Powered by OpenAI’s GPT-4o to Accelerate Electric Vehicle Transition
CLIMATE & ENERGY TRANSITION
- Colombia and Germany Explore Debt-for-Nature Swap to Fund $40 Billion Climate Transition
- Iberdrola to Invest $31 Billion in UK by 2028, Doubling Investment to Boost Grid and Renewables
- S&P Global Launches Climate Center to Advance Climate, Environmental and Nature Research
- Petrobras to Launch First Renewable Hydrogen Pilot Plant by 2026 with $90M Investment
- Google Secures 12-Year Renewable Energy Deal with energyRe for 435 MW Solar Project
SUSTAINABLE FINANCE
- UK Commits £21.7 Billion to Carbon Capture Despite Project Delays and Rising Costs
- Nuveen Green Capital, CDPQ Launch $600 Million Program for Sustainable Commercial Real Estate
- Goldman Sachs Invests $440M in BrightNight to Drive U.S. Renewable Energy Expansion
- Climate Investment Funds Launches $1 Billion Initiative for Industry Decarbonization
- Climate Bonds Initiative and EMF-ECBC’s New Partnership Aligns EU Covered Bonds with Sustainable Finance Goals
- IFC and Axis Bank Launch $500 Million Initiative for Sustainable Projects in India
- HSBC and Google Cloud Amplify Support for Climate Tech with $1bn Financing Initiative
CARBON MARKETS
- UK Commits £21.7 Billion to Carbon Capture Despite Project Delays and Rising Costs
- Fitch Warns Global Decarbonisation Efforts Lag, Driven by Emerging Markets
- Climate Investment Funds Launches $1 Billion Initiative for Industry Decarbonization
SUSTAINABILITY GOALS, INITIATIVES AND ACHIEVEMENTS
- Microsoft Expands AI Tools for Sustainability: What-If Analysis, Intelligent Insights, and Enhanced ESG Reporting
- Deloitte Denmark Aids Carlsberg Group in Navigating New ESG Legislation
- Morningstar Sustainalytics Enhances ESG Reporting Tools to Meet EU Regulatory Demands
- IFC and Axis Bank Launch $500 Million Initiative for Sustainable Projects in India
- Capgemini Expands Global Alliance with Sustaira to Drive AI-Enabled Sustainability Solutions
- Vistria Group Partners with Measurabl to Enhance Sustainable Real Estate Strategy
ESG INVESTING & FUNDS
- Canada To Launch New Sustainable Investment Taxonomy to Drive Net-Zero Progress
- Japan’s ESG Investments Surge as 311 Companies Join FTSE Blossom Japan Index: FTSE Russel Report
- S&P Global Launches Climate Center to Advance Climate, Environmental and Nature Research
- Fitch Warns Global Decarbonisation Efforts Lag, Driven by Emerging Markets
TECHNOLOGY, ESG TOOLS & SERVICES
- Deloitte Launches LEAP Dashboard to Boost Nature-Related Risk and Impact Management
- ACCA Launches Professional Diploma in Sustainability to Meet Growing Demand for Skills
- KPMG Unveils ESG Playbook to Empower Singapore Charities on Their ESG Journey
- Microsoft Expands AI Tools for Sustainability: What-If Analysis, Intelligent Insights, and Enhanced ESG Reporting
- Morningstar Sustainalytics Enhances ESG Reporting Tools to Meet EU Regulatory Demands