March 2023 Week-4; ICAP reports $63 billion raised from carbon allowance sales in 2022; President Biden uses first veto to defend rule on ESG investing; EdgeConneX executes $3.3 billion in sustainability-linked financing; Cosmo to allocate $3.2 billion for green energy initiatives; EU proposes rules to protect consumers from greenwashing; Tesla shares accelerate as EV maker secures blue chip status with Moody’s debt upgrade; Chipotle announces 2023 ESG goals tied to executive compensation; Chubb to only insure projects if companies pledge to cut emissions; Franklin Templeton appoints James Andrus as Vice President of Sustainability Global Markets…
See below for the highlights of the past week:
Sustainability Goals, Initiatives and Achievements
- Kering Commits to Reducing Absolute Emissions by 40%
- Eni and UniCredit Partner Around Open-es to Support Companies in Improving Their ESG Performance
- Tesla Shares Accelerate as EV Maker Secures Blue Chip Status with Moody’s Debt Upgrade
- Chubb To Only Insure Oil, Gas Projects if Companies Pledge To Cut Methane Emissions
- GE and Svante Announce Collaboration to Develop Carbon Capture Technology for Power Generation
- Chipotle Announces 2023 ESG Goals Tied To Executive Compensation
- Maersk Signs MOU with Shanghai International Port Group on Green Methanol Bunkering
Executive Moves
ESG Around the World
- FCA Outlines Where Improvements Are Needed In ESG Benchmarks
- South Korea Cuts 2030 Emissions Reductions Targets for Industry
- EU Joins Efforts to Address the Global Water Crisis and Ensure Water Security for All by 2050
- ICAP Reports Record $63 Billion Raised from Carbon Allowance Sales in 2022
- World Bank Group Launches New Partnership Framework with Egypt to Support Green, Resilient, and Inclusive Development
- World Bank Commits $82 Million to Republic of Congo to Address Climate Change and Build More Resilient Economy
Government & Regulators
- President Biden Uses First Veto To Defend Rule on ESG Investing
- EU Commission Proposes Rules to Protect Consumers from Greenwashing
- Biden-Harris Administration Announces $250 Million for Federal Agencies to Advance Net Zero Projects
- EU Announces Rules for Cutting Maritime Transport Emissions by Promoting Sustainable Fuels for Shipping
ESG Services & Tools
- Nasdaq and Microsoft Team to Expand Educational Sustainability Programming for Entrepreneurs
- Eni Launches Program for Suppliers Committed to Sustainable Development
ESG Investing
- PepsiCo Announces $216 Million for Three Major Farmer-facing Organizations to Deliver Three Million Metric Tons of Greenhouse Gas Emissions Reductions
- Bezos Earth Fund Invests $34 Million to Help Deliver Climate-Friendly Food and Improve Corporate Climate Accountability
- Voestalpine to Invest 1.5 Billion Euros in CO2-Reduced Steel Production
- Nestlé Invests in Ganado Solar Project to Help Expand Renewable Energy Available in the U.S.
- EnBW and Investors to Commit €2.4 Billion for Offshore Wind Farm
- Japan’s Cosmo To Allocate $3.2 Billion for Green Energy Initiatives in Next 3 Years
- EIB Provides €70 Million Investment Grant to North Macedonia for Largest Environmental Protection Project
- EdgeConneX Successfully Executes $3.3 Billion in Innovative Sustainability-linked Financing
Sustainable Finance
- Banco de Bogotá, IDB Invest Announce $230 Million Sustainability Bond
- EIB Commits €450 Million Green Loan to Portugal’s REN for Renewable Energy Upgrades
Energy Transition
Social Responsibility & DEI
ESG Reporting
- Bank of England Releases Report on Climate-Related Risks and the Regulatory Capital Frameworks
- EcoVadis Network Impact Report Showcases Progress on Environmental & Social KPIs and Metrics from 40,000 Business Sustainability Ratings
- HelloFresh Releases 2022 Sustainability Report
- Ball Corporation Releases Climate Transition Plan and 2022 Annual Combined Financial and Sustainability Report
- Shell Shows Good Progress on Journey to Net Zero Emissions in Energy Transition Progress Report