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ESG NEWS SMART READ OF THE WEEK

Tim Mohin: Green Deal or No Green Deal?

In the first EU Parliament hearing since the US election, voices against the EU Green Deal from the right and far-right were louder than ever. Emboldened by President Trump’s rhetoric on climate change, MEPs lambasted Teresa Ribera – the new EU minister Minister for Ecological Transition and Demographic Challenge – claiming the Green Deal was equivalent to a “Taliban” policy and blaming it for the recent Spanish flood.

Despite the rightward tilt resulting from June’s EU elections, the EU recently reconfirmed its commitment to the Green Deal. Now, this could change. Professor of EU law Alberto Alemanno said, “The shift towards a less climate and environmentally friendly policy agenda in the US will inevitably further tarnish the EU commitment towards those goals.”

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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. Become a contributor!

COP29

• ISO Launches Global ESG Implementation Principles at COP29
• CDP, GRI Collaborate to Simplify Environmental Reporting and Improve Data Access
• IBM, SEforALL Launch New AI Tools for Sustainable City Planning In Developing Regions
• Saudi Arabia Launches First Voluntary Carbon Credit Exchange Platform at COP29
• UK Prime Minister Starmer Commits to Cutting Emissions by 81% by 2035 at COP29
• COP29 Launches Baku Call to Address Climate, Conflict, and Humanitarian Crises
• Conflict-Affected Nations Push for $20 Billion in Climate Aid at COP29, Letter Reveals
• World’s Top Development Banks Commit $120 Billion for Climate Finance by 2030: COP29
• CIF’s $75 Billion Clean Energy Bond Program Launches on London Stock Exchange
• COP29 Achieves Early Success with Consensus on Article 6.4 Carbon Credit Standards

ESG AROUND THE WORLD

• Amazon, IKEA Lead Alliance to Boost Green Fuel Demand in Ocean Cargo Shipping
• SEC Fines Invesco $17.5 Million for Misleading ESG Claims
• IAASB Unveils New Global Standard for Sustainability Reporting Assurance
• 66% of Young Professionals Feel Responsible for Driving ESG Initiatives: KPMG Report
• Microsoft and RBC Purchase 10,000 Carbon Removal Credits from Deep Sky
• Singapore Joins EU and China in Expanded Green Financing Taxonomy

CLIMATE & ENERGY TRANSITION

• Only 1 in 10 Companies Committed to 100% Renewable Energy Sourcing: CDP Report
• ScottishPower, Siemens Gamesa Seal £1 Billion Deal for UK Offshore Wind Project
• EIP Boosts Investment in Eni’s Renewables Business Plenitude to €800 Million
• CIF’s $75 Billion Clean Energy Bond Program Launches on London Stock Exchange
• GenZero, Trafigura Commit US$100M to Expand Nature-Based Carbon Removal Project in Colombia

And More…

SUSTAINABLE FINANCE

• CIF’s $75 Billion Clean Energy Bond Program Launches on London Stock Exchange
• IDB to Invest $11.3 Billion in Annual Climate Finance by 2030
• JPMorgan Discloses $1.29 in Green Energy Financing for Every Dollar in High-Carbon Energy
• ADB to Boost Climate Lending by $7.2 Billion with First-Ever U.S., Japan Guarantees
• CIF’s $75 Billion Clean Energy Bond Program Launches on London Stock Exchange
• MAS, PBC Advance Integration of Singapore-Asia Taxonomy to Boost Green Finance

And More…

RESEARCH & ANALYTICS

• 90% of Business Leaders Believe AI will Positively Influence Sustainability Goals: IBM Survey
• 66% of Young Professionals Feel Responsible for Driving ESG Initiatives: KPMG Report
• Only 1 in 10 Companies Committed to 100% Renewable Energy Sourcing: CDP Report
• Only 41% of Global Companies Have a Published Climate Transition Plan: EY Report
• Microsoft and Kyndryl Study: Only 21% of Organizations Leverage Technology for Sustainability Goals
• 80% of Global Financial Regulators Aligned with ISSB, TCFD Recommendations: FSB Report
• Only 16% of Largest Companies on Track for Net Zero by 2050, Accenture Reports

EXECS ON THE MOVE

• Denham Capital Appoints Justin DeAngelis as Global Head of Sustainable Infrastructure

SUSTAINABILITY, ESG REPORTING

• ISO Launches Global ESG Implementation Principles at COP29
• CDP, GRI Collaborate to Simplify Environmental Reporting and Improve Data Access
• CDP and EFRAG Strengthen ESRS Alignment to Ease Corporate Reporting
• IAASB Unveils New Global Standard for Sustainability Reporting Assurance
• Only 41% of Global Companies Have a Published Climate Transition Plan: EY Report

ESG INVESTING & FUNDS

• Denham Capital Appoints Justin DeAngelis as Global Head of Sustainable Infrastructure
• US Green Bond Sales Near Record High, Reaching $550B: BloombergNEF Report
• SEC Fines Invesco $17.5 Million for Misleading ESG Claims
• EIOPA Proposes Higher Capital Charges for Insurers’ Fossil Fuel Assets

TECHNOLOGY, ESG TOOLS & SERVICES

• IBM, SEforALL Launch New AI Tools for Sustainable City Planning In Developing Regions

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