ESG News Week In Review: 12 August – 18 August
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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: Carbon Accounting Tug of War
Get out your green eye shades….the next battleground for climate and sustainability is the fast paced world of accounting.
Key Impact Points:
- US and international accounting standards clash over integrating climate disclosures into financial reports, creating global tension.
- Republicans push back against climate disclosures in financial reporting, while Democrats advocate for standardized carbon accounting.
- Concerns over companies using carbon credits, like RECs, to understate real-world emissions spark debate on future accounting rules.
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 [email protected]
ESG AROUND THE WORLD
- Top Australian Banks Shift Focus from Carbon-Heavy Lending
- Forbes Middle East Reveals Top 100 CEOs for 2024
- SBTi Enters Drafting Phase for Oil and Gas Standard, Following Extensive Research and Stakeholder Input
- Standard Chartered Introduces ESG-Linked Cash Account
- Elon Musk Advocates for Sustainable Energy in Conversation with Trump Amidst EV Industry Challenges
- Nobel Laureates and Leaders Urge UN to Include Fossil Fuel Phase-Out in Climate Pact
CLIMATE & ENERGY TRANSITION
- Ukraine Announces $20 Billion Plan to Increase Renewable Energy Production by 2030
- South Africa to Draw $21.9 Billion in Private Renewable Energy Investments Says President Ramaphosa
- Meta Secures 374 MW of Solar Energy from RWE to Power 100% Renewable Operations, Boosting U.S. Renewable Sector
- Goldman Sachs’ Fund Division Latest to Depart Climate Action 100+
- AIIB and ENGIE Drive India’s Solar Future with $88M Investment
- Microsoft Partners with Pivot Energy in 5-Year Agreement to Develop 500 MW of Community Solar Projects Across the U.S
- DOE Grants $1.45 Billion Loan to South Korean Renewable Energy Company Qcells for Solar Supply Chain Development in Georgia
- Amazon Invests £300M in Sustainable UK Deliveries with Micromobility Hubs and Renewable Energy Projects’
- Aramco and KAUST Partner on $100 Million R&D Initiative to Accelerate Innovation in Energy Transition and Sustainability
SUSTAINABLE FINANCE
- Etihad Rail Launches Sustainable Finance Framework to Support UAE’s Net Zero 2050 Strategy
- BlackRock, Temasek Decarbonization Fund Leads $31M Series B for Guidewheel to Scale AI-Powered FactoryOps Globally
- Poland Launches €5 Billion Loan Program to Accelerate Offshore Wind Development in the Baltic Sea
- Hydro One Secures $1.2 Billion for Green Projects Through Medium Term Notes Offering’
- Kimco Realty Fully Allocates $500M Green Bond to Drive Sustainability and Environmental Impact
- Schroders Capital Secures £2 Billion Real Estate Mandate from Wales Pension Partnership, Targeting Social Impact and Net Zero Goals
- World Bank Launches $225M Amazon Reforestation Bond, Mobilizing Global Investor Support for Carbon Removal and Biodiversity
SUSTAINABILITY GOALS, INITIATIVES AND ACHIEVEMENTS
- Daltex becomes first private company to trade international carbon credits through Egypt’s new voluntary carbon market
- IBM and WWF-Germany Collaborate to Build New AI Solution to to Enhance Conservation of African Forest Elephants
- Iberdrola Leverages AWS Generative AI to Boost Innovation and Sustainability in Energy
- $200 Million Boost for Zero-Emission School Buses in New York
- Preqin and Measurabl Partner to Enhance ESG Transparency in Private Real Estate Investments
ESG & SUSTAINABILITY REPORTING
- Norges Bank Investment Management Urges Alignment of Japan’s Sustainability Disclosure Standards with Global ISSB Guidelines
- U.S. SEC Defends its Authority for Climate Disclosure Rule in Court
SUSTAINABILITY LEADERS
- AESG Expands into Australia, Appoints Devan Valenti as Director to Lead Sustainability Efforts
- Allianz UK Appoints Bethany Thomas as Head of Sustainability
- PwC Appoints Ellen Walsh as Sustainability Executive Sponsor
ESG INVESTING & FUNDS
- Canadian ESG Investing Sees Record Growth and Diversification Amid Challenges, Morningstar Report
- Goldman Sachs’ Fund Division Latest to Depart Climate Action 100+
- Qantas Partners with Rio Tinto and BHP to Launch $53M Nature-Based Carbon Credit Fund
- Norges Bank Investment Management Urges Alignment of Japan’s Sustainability Disclosure Standards with Global ISSB Guidelines
- JPMorgan’s Campbell Global Secures Nest Pension Mandate for New Evergreen Timberland Fund
TECHNOLOGY, ESG TOOLS & SERVICES
- SpaceX To Launch Methane Satellite to Hold Major Polluters Accountable
- IBM and WWF-Germany Collaborate to Build New AI Solution to to Enhance Conservation of African Forest Elephants
- Preqin and Measurabl Partner to Enhance ESG Transparency in Private Real Estate Investments
- EQT Private Equity to Acquire Majority Stake in AMCS, Advancing Circular Economy and Sustainability Software for Resource-Intensive Industries
- Bezos Earth Fund and National Academies Release Major Report on Advancing Climate and Economic Justice Tools
- MIT’s New Tool Set to Cut Pavement Emissions by 65% by 2050
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