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Here are five notable sustainability developments from the past week: Related Article: IMF Barbados Agree To $30 Million in Loans Under Climate Trust Follow ESG News on LinkedIn
Oslo, Norway, Dec 6, 2024 (ESG NEWS) – SLB Capturi has achieved a major milestone with the completion of the world’s first industrial-scale carbon capture plant at Heidelberg Materials’ cement...
Meta Platforms Inc. has announced a deal to purchase green credits from four major U.S. solar energy projects developed by Invenergy. This strategic move aims to meet Meta’s escalating clean...
ADNOC has unveiled XRG, a transformational international investment company with an enterprise value exceeding $80 billion. The independently operated venture focuses on lower-carbon energy and chemicals, aiming to double its...
Sustainability as a Business Imperative A new DHL Express global survey of 5,000 SME decision-makers across 11 markets reveals that sustainability is now a critical priority for small and medium-sized...
Singapore has solidified its leadership in sustainability reporting, surpassing global benchmarks in six of twelve key indicators, according to KPMG’s 2024 Survey of Sustainability Reporting. The city-state is one of...
Google has announced the opening of 1265 Borregas, its first office building constructed using mass timber, in Sunnyvale, California. The building reflects Google’s commitment to sustainability, employee wellbeing, and community...
The COP29 Presidency announced a major milestone in climate diplomacy: the full operationalization of Article 6 of the Paris Agreement, unlocking international carbon markets after years of complex negotiations. The...
A contested proposal The Azerbaijani presidency at COP29 revealed a draft plan urging wealthy nations to lead a $250 billion annual financing initiative by 2035. This figure, termed the “new...
A Historic Step for Climate and Tourism The United Nations announced on Wednesday that over 50 governments have signed a declaration to make global tourism more climate-friendly, calling it a...
The Council of the European Union has approved a groundbreaking regulation to enhance the transparency, consistency, and comparability of environmental, social, and governance (ESG) ratings. This move aims to bolster...
Released during COP29, Deloitte’s report, Turning Point: Feeding the World Sustainably, details the economic and social benefits of transforming global food production. The analysis highlights that addressing undernourishment, feeding a...
A group of conflict-affected countries is pushing at COP29 to double financial aid to more than $20 billion a year to combat natural disasters and security crises facing their populations,...
At COP29 in Baku, the COP29 Presidency launched the Baku Call on Climate Action for Peace, Relief, and Recovery (BCCAP), a milestone initiative aimed at addressing the critical intersection of...
At COP29, the International Organization for Standardization (ISO) unveiled new ESG Implementation Principles to help organizations navigate the complex Environmental, Social, and Governance (ESG) landscape. These guidelines aim to simplify...
IBM has released its first-ever State of Sustainability Readiness Report 2024, revealing that 88% of business leaders plan to increase IT investments for sustainability over the next 12 months. Conducted...
At COP29 in Azerbaijan, a significant early pledge emerged as major development banks, including the World Bank, committed to raising climate finance to $120 billion annually by 2030. This figure...
Amazon.com and IKEA, prominent members of the Zero Emissions Maritime Buyers Alliance (ZEMBA), are intensifying their efforts to decarbonize ocean shipping by preparing for a major tender to launch in...
Cape Town, South Africa, served as the vibrant backdrop for the 2024 Earthshot Prize, where five remarkable winners were announced at a star-studded event hosted by Billy Porter and Bonang...
In a significant environmental milestone, net GHG emissions across the EU dropped by 8.3% in 2023, according to a new report by the European Commission. This decrease represents one of...
The Science Based Targets Network (SBTN) has announced that Kering, GSK, and Holcim are the first companies to publicly adopt science-based targets for nature, addressing freshwater and land. These actions...
Morgan Stanley has revised its 2030 climate targets, setting sector-specific emissions reductions within a 1.5–1.7°C warming limit. This range acknowledges global challenges in meeting the 1.5°C target of the Paris...
The UN-backed Net-Zero Asset Owner Alliance (NZAOA) reported a record $175 billion investment in climate-focused solutions by its members in 2023, marking a nearly 38% jump from the previous year’s...
Key Impact Points: The Taskforce on Nature-related Financial Disclosures (TNFD) announced at COP16 in Cali, Colombia, that over 500 organizations have committed to aligning their risk management and corporate reporting...
Key Impact Points: Business momentum in measuring nature and biodiversity impacts is accelerating, according to CDP’s latest data. This progress comes as global leaders convene for COP16 in Colombia to...
Key Impact Points: The European Commission has selected 85 innovative net-zero projects to receive €4.8 billion in grants from the Innovation Fund, aiming to accelerate the deployment of cutting-edge clean...
Key Impact Points: The International Chamber of Commerce (ICC) has launched its Principles for Sustainable Trade Finance (PSTF) at Sibos 2024 in Beijing. Developed in partnership with industry leaders, including...
Key Impact Points: Standard Chartered has launched a sustainable finance variant of its Borrowing Base Trade Loan (BBTL), reinforcing its commitment to decarbonizing the commodity sector. The BBTL is a...
Key Impact Points: Why it matters: Sustainable funds have surged to $3.5 trillion in AUM, even as inflows slow. The $20 billion in inflows recorded in the first half of...
Amazon is accelerating its transition to carbon-free energy by investing in innovative nuclear power projects. The company has signed three new agreements to support the development of Small Modular Reactors...
To accelerate the clean energy transition across the U.S., Google has signed the world’s first corporate agreement to purchase nuclear energy from multiple small modular reactors (SMRs) to be developed...
Meet the sustainability champions making the Middle East a blueprint for green practices Forbes Middle East has released its second annual list of the region’s sustainability leaders, recognizing the trailblazers...
Leading the Charge on Textile Waste Spain’s largest fashion companies, including Zara owner Inditex, H&M, Decathlon, Ikea, and Primark, will start collecting discarded clothes in April next year as part...
Key Impact Points: Canada’s Net-Zero Plan Takes Shape The Canadian government has advanced two significant sustainable finance initiatives to ensure the country meets its ambitious net-zero emissions target by 2050....
Key Impact Points: Colombia is in discussions with Germany for a debt-for-nature swap to support its ambitious $40 billion plan to transition from fossil fuels and enhance environmental conservation. Foreign...
Deloitte introduces the innovative LEAP Dashboard, designed to streamline the management of nature-related dependencies, impacts, risks, and opportunities (DIROs) for organizations. Aligned with the Taskforce on Nature-related Financial Disclosures (TNFD)...
Key Impact Points: BP, the UK-based oil giant, has announced a significant shift in its strategy, moving away from earlier plans to cut oil and gas production by 2030 and...
Ferrari accelerates its transition to renewable energy by shutting down the trigeneration plant at its Maranello factory, advancing its decarbonisation efforts three months ahead of plan. Early Shutdown Drives Emission...
Major Companies Back New 24/7 Carbon-Free Initiative Global corporates like Google, AstraZeneca, Iron Mountain Data Centers, Shree Cement, AirTrunk, and Vodafone UK have joined the Climate Group’s 24/7 Carbon-Free Coalition...
India has rolled out a Carbon Accounting and Reporting Framework for domestic and international airports, aiming for carbon neutrality and net zero emissions in civil aviation. Carbon Neutrality Prioritised The...
Deloitte’s Latest Series Highlights CFO Leadership in Sustainability A new report series by Deloitte, titled “Asia Pacific Mandatory Sustainability Reporting,” positions Chief Financial Officers (CFOs) as pivotal leaders in navigating...
How Billie Eilish is Helping Fans Travel Sustainably Billie Eilish, in collaboration with Google Maps, is encouraging her fans to make more environmentally conscious choices while attending her upcoming HIT...
Impact Points: The Net-Zero Data Public Utility (NZDPU) and CDP, the global environmental disclosure system, have announced a transformative expansion of their partnership to make vital climate data openly accessible...
Key Impact Points: The third annual Earthshot Innovation Summit, in partnership with Bloomberg Philanthropies, has proudly announced its latest cohort of finalists for The Earthshot Prize 2024. These innovators, hailing...
Nokia has launched a Private Wireless Sustainability Calculator to help industries measure the environmental and social benefits of private wireless networks. Initially designed for the mining, manufacturing, and port sectors,...
Climate Week NYC, an annual gathering of climate leaders, is now taking center stage over the United Nations Climate Change Conference (COP). The event, running through Sunday in Manhattan, has...
Bloomberg has announced significant upgrades to its climate solutions suite, aimed at helping investors evaluate companies’ carbon emissions goals and transition risks more accurately. The enhanced tools offer detailed assessments...
The world is failing to meet the Sustainable Development Goals (SDGs) and urgent action is needed to unlock progress and overcome the growing annual SDG funding gap, which now stands...
MSCI Inc. has launched MSCI Carbon Project Ratings, the first tool to assess the integrity of over 4,000 carbon credit projects. This marks a significant step forward in setting new...
SBTi Expands Corporate Net-Zero Standard to Refine Emission Neutralization The Science Based Targets initiative (SBTi) is advancing its efforts to help companies achieve net-zero by revising its Corporate Net-Zero Standard....
More than 530 financial institutions, managing over $29 trillion in assets, are pressuring governments worldwide to take decisive action on the climate crisis. In a joint statement ahead of COP29,...
European Commission President Ursula von der Leyen has revealed the team that will lead the EU’s most powerful institution for the next five years, with a clear focus on addressing...
Apple’s Green Push for iPhone 16 Apple continues its drive toward sustainability with the release of the iPhone 16 and iPhone 16 Plus, reducing their carbon footprint by 30% compared...
The 2024 State of the Energy Union report highlights the EU’s significant progress in ensuring secure, competitive, and affordable energy, while also laying the groundwork for future economic growth and...
The U.S. Environmental Protection Agency (EPA) has released proposed updates to its Recommendations of Specifications, Standards, and Ecolabels for Federal Purchasing. These updates are aimed at helping federal government buyers...
A new report by the Transition Pathway Initiative (TPI), based at the London School of Economics, finds that 30% of the world’s largest corporate emitters now have climate targets aligned...
New analysis by the Travel Smart campaign, led by T&E, reveals that tech companies are significantly cutting business travel emissions, with an average reduction of 49% in 2023 compared to...
Euronext Expands Sustainable Finance Tools Euronext has launched a series of ESG initiatives to support sustainable finance and corporate transparency, announced during Euronext Sustainability Week. These new tools are part...
The Asian Development Bank (ADB) has committed to dedicating 50% of its annual lending to climate finance by 2030, significantly increasing its previous target of 35%. This forms part of...
SEB’s Sustainable Investment Commitment SEB has unveiled the SEB Global Sustainable Companies Fund, a groundbreaking investment vehicle dedicated to companies that excel in environmental and social responsibility. As a pioneer...
Microsoft is doubling down on its commitment to sustainability with the formation of a new supplier decarbonization team. This initiative aims to tackle the rising carbon footprint associated with the...
Key Impact Points: Bank of America’s Carbon Capture DealBank of America is making a significant move into carbon capture, investing $205 million in a first-of-its-kind tax credit deal with Harvestone...
The UK’s latest renewable power auction marks a significant step in reviving the offshore wind sector. Ørsted and Iberdrola were among the big winners, securing contracts for major projects like...
Environmental, Social, and Governance (ESG) ratings and data products have become essential tools for financial institutions (FIs) to assess portfolio performance and environmental impact. In 2023, 85% of FIs disclosed...
Plastic’s Growing Environmental Impact Plastic’s convenience has led to its widespread use, but the environmental costs are staggering. Every year, 400 million tonnes of plastic waste are generated worldwide, with...
Ørsted Completes Its Coal Phase-Ou On August 31, 2024, Ørsted will shut down its last coal-fired combined heat and power plant, Esbjerg Power Station, in Western Denmark. This marks a...
The European Investment Bank (EIB) has taken another significant step towards sustainability by issuing a new EUR 5 billion Climate Awareness Euro Area Reference Note (EARN). This 10-year bond, due...
Wärtsilä and Eidesvik Offshore are making history. In a groundbreaking partnership, the two companies are set to convert the offshore platform supply vessel (PSV) ‘Viking Energy’ to operate on ammonia...
In 2023, the US oil and gas industry defied significant commodity price drops to not only increase production but also maintain shareholder value. Despite an 18% drop in West Texas...
RepAir Carbon US Inc. and C-Questra have teamed up to launch the European Union’s first onshore Direct Air Capture and Storage (DACS) project in Grandpuits, France. This collaboration marks a...
ESG Megatrends: The Forces Shaping Corporate Sustainability The Sustainability Megatrends Report by Cushman & Wakefield reveals seven key areas driving the integration of ESG (Environmental, Social, Governance) across industries. Here’s...
The 2024 proxy season highlighted a notable shift in shareholder support for environmental, social, and governance (ESG) resolutions. While governance proposals experienced a resurgence, backing for environmental and social resolutions...
Forbes Middle East has announced its fourth annual list of the Top 100 CEOs in the region, shining a spotlight on the leaders driving success across diverse industries. This year’s...
Standard Chartered has unveiled an innovative ESG-linked Cash Account, designed to reward corporate banking clients who achieve significant environmental, social, and governance (ESG) goals. This new offering ties credit balance...
Goldman Sachs’ fund division has announced its exit from the investor engagement group Climate Action 100+, following a series of withdrawals by U.S. financial services companies facing political pressure. The...
Spiritus, a leader in climate technology, is advancing its Direct Air Capture (DAC) ambitions with the recent filing of a Class VI permit application with the Wyoming Department of Environmental...
Key Impact Points: The Great Barrier Reef, one of Earth’s most iconic natural wonders, is facing unprecedented threats due to rising ocean temperatures, according to new research published in Nature....
The European Commission has released detailed guidelines on the implementation of the EU Corporate Sustainability Reporting Directive (CSRD). The CSRD, introduced through Directive (EU) 2022/2464, aims to enhance transparency and...
The Integrity Council for the Voluntary Carbon Market announced that current renewable energy methodologies won’t qualify for the high-integrity CCP® (Core Carbon Principles) label. These methodologies, representing nearly a third...
The International Finance Corporation (IFC) and Citi have unveiled a $2 billion program to bolster sustainable supply chain finance in emerging markets. The initiative, starting with a $500 million facility...
A recent report by Environmental Resources Management (ERM) highlights a significant issue within the ESG rating market: greenwashing. According to the study, 68% of corporate leaders in the United States...
In a landmark ruling, Australia’s Federal Court ordered Mercer Superannuation (Australia) Limited to pay an $7.4 million penalty for misleading claims about the sustainability of its superannuation investment options. Mercer...
BBVA achieved a new milestone in sustainable business, channeling €26 billion in the second quarter of 2024. This marks a record for the Group, contributing to a total of €46...
Leveraging Technology in ESG Global capability centres (GCCs) are driving ESG initiatives with over 1,600 centers in India, expected to reach 1,900 by 2025, hitting a market size of $60...
The number of plastic bags found on UK beaches has plummeted by 80% over the past decade, following the introduction of a mandatory fee for single-use carrier bags. According to...
Enhanced Biodiversity Reporting Global Reporting Initiative (GRI) and the Taskforce on Nature-related Financial Disclosures (TNFD) have unveiled a joint interoperability mapping resource. This tool outlines the alignment between TNFD Disclosure...
The Spanish government has approved nearly 300 renewable power projects, aiming to boost the country’s green energy capacity by over 28 gigawatts. This move, announced on Monday, is part of...
International Airlines Group (IAG) has inked a landmark agreement with Repsol for over 28,000 tons of sustainable aviation fuel (SAF), marking the largest SAF purchase in Spain. This fuel will...
Universal Hydrogen’s Dream Crashes Universal Hydrogen aimed to revolutionize hydrogen-powered flights with nearly $100M from investors like Playground Global and Toyota Ventures. The company liquidated after failing to secure further...
EFRAG released a report on the early implementation of the European Sustainability Reporting Standards (ESRS) among large EU companies. Supported by Boston Consulting Group (BCG), this study, titled ‘State of...
On the eve of the Paris 2024 Olympic Games, the first Sport for Sustainable Development (Sport4SD) Summit gathered 500 leaders, including heads of state, government officials, and athletes, to accelerate...
Audi has emerged as the leader in environmental, social, and corporate governance (ESG) among car manufacturers, according to the latest ISS ESG ratings. The company achieved a B– rating, reflecting...
Google and DHL Team Up for Sustainable Shipping DHL and Google have partnered to utilize the DHL Express GoGreen Plus service, employing Sustainable Aviation Fuel (SAF) for express shipping of...
Paris 2024 is set to be the greenest Olympics ever, targeting a carbon footprint half that of London 2012 and Rio 2016, which were 3.3 million and 3.6 million tonnes...
The iMasons Climate Accord’s Governing Body, including AWS, Google, Meta, Microsoft, Digital Realty, and Schneider Electric, has released an open letter urging data center suppliers to adopt Environmental Product Declarations...
Google joined industry leaders, solution providers, non-profits, and advocates in urging the swift implementation of Granular Guarantees of Origin (GOs) within the EU, as enabled by the recent Renewable Energy...
Disability:IN 2024 Report and Inclusion Awards Highlight Advances and Gaps in Disability Equality Key Impact Points: Disability:IN 2024 Report: Progress and Challenges The 2024 Disability Equality Index® report, launched at...
Brazil’s Treasury and Securities and Exchange Commission (CVM) are set to launch an innovative investment fund consortium aimed at early-stage sustainable ventures. This new vehicle will function similarly to private...
ESG Due Diligence Rising in Priority ESG due diligence is becoming a critical priority for Australian dealmakers, mirroring global trends. According to KPMG’s ESG due diligence study, 71% of investors...
In-Depth Analysis: ASIFMA’s ISSB Standards Report ASIFMA Asset Management Group (AAMG) has unveiled a comprehensive report on the adoption of International Sustainability Standards Board (ISSB) Standards across Asia. This first-of-its-kind...
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