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ESG NEWS SMART READ OF THE WEEK

Tim Mohin: COP29 Negotiations Go Down to the Wire

It wouldn’t be a climate COP without negotiations going down to the wire. This year’s talks will likely go into the wee hours of tomorrow morning as delegates try to push through an agreement. The talks are particularly tough as delegates try to increase climate funding for developing nations 10 fold – from $100 billion to $1 trillion by 2030.

Those with their COP bingo cards out would not have been disappointed as this year’s event ran the gamut of a typical COP with impassioned speeches from the likes of Al Gore all the way through to oil and gas majors calling fossil fuels “a gift from God.”

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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

• Breaking News: COP29 Draft Deal Proposes $250 Billion Climate Finance Target, Faces Global Pushback
• Conflict-Affected Nations Push for $20 Billion in Climate Aid at COP29, Letter Reveals

ESG AROUND THE WORLD

• Over 50 Nations Commit to Climate-Friendly Tourism in U.N. Declaration
• EU Approves New ESG Ratings Regulation to Enhance Transparency and Investor Trust
• EU Approves First-Ever Certification Framework for Carbon Removals and Farming
• Bolivia Targets $5 Billion in Carbon Credit Sales to Combat Deforestation
• IFRS Foundation Publishes Guide to Help Companies Identify, Disclose Sustainability Risks
• BP, Equinor, Shell, and TotalEnergies Invest $500M to Advance UN SDG7 for Global Energy Access
• New York City Pension Fund (NYCERS) Joins $9.5 Trillion Net-Zero Asset Owner Alliance
• Deloitte and Workiva Unveil Four ESG Tools to Streamline EU CSRD Compliance

CLIMATE & ENERGY TRANSITION

• Ikea Invests €1.5 Billion to Phase Out Fossil Fuels by 2030
• $1.48 Billion GAIA Platform Launched to Bridge Climate Finance Gaps in Vulnerable Regions
• EU Regulators, ECB Release Climate Stress Test Results Highlighting Transition Risks
• Indonesia, Germany Invest €1.2 Billion Green Funding for Clean Energy Development
• ISS ESG Introduces Customizable Climate Impact Report for Investors
• Return and Verified Launch First-Ever 100% Wind-Powered Carbon Capture Facility
• Endesa Commits Record €9.6 Billion Investment to Power Spain’s Energy Transition

And More…

EXECS ON THE MOVE

• Starbucks Appoints Marika McCauley Sine as Chief Sustainability Officer
• Quinbrook Appoints Hilkka Komulainen Global Head of Sustainability
• SAP Appoints Matthias Medert as Global Head of Sustainability
• Sustainability Partners Names Ex-Morgan Stanley MD John Veech as CEO
• GEFI Names Former ESG Chief of Abrdn Amanda Young as Senior Advisor

SUSTAINABLE FINANCE

• Societe Generale Commits to €500 Billion Sustainable Finance Target by 2030
• BNP Paribas Unveils $500M Sustainable Forestry Fund with IWC
• Iberdrola Places €800 Million Hybrid Green Bond with 3.75x Oversubscription
• EU Commission Raises €7 Billion in EU Bonds, Including €3 Billion in Green Bonds
• Indonesia, Germany Invest €1.2 Billion Green Funding for Clean Energy Development
• $789 Billion Green Finance Opportunity Awaits SMEs, ICC And Sage Report Reveals

And More…

RESEARCH & ANALYTICS

• Sustainable Food Systems Could Lift 300 Million from Undernourishment: Deloitte Report
• ESG Beyond Compliance: Insights from KPMG Canada

SUSTAINABILITY, ESG REPORTING

• IFRS Foundation Publishes Guide to Help Companies Identify, Disclose Sustainability Risks
• Deloitte and Workiva Unveil Four ESG Tools to Streamline EU CSRD Compliance
• Bailey Church: A New Era For Canadian Sustainability Reporting, Assurance, And Accountability

ESG INVESTING & FUNDS

• EU Approves New ESG Ratings Regulation to Enhance Transparency and Investor Trust
• Adani Green Revives $600 Million Dollar Bond Deal for Solar-Wind Hybrid Projects
• New York City Pension Fund (NYCERS) Joins $9.5 Trillion Net-Zero Asset Owner Alliance
• BlackRock, Block, and Partners Drive $200M Investment in Sustainable Aviation Fuel
• Fidelity International to Adopt FCA’s ‘Sustainability Focus’ Label for Three Equity Funds

TECHNOLOGY, ESG TOOLS & SERVICES

• Microsoft Launches Free Global Webinar Series ‘Microsoft Sustainability Academy’
• IBM Launches Tool to Optimize Renewable Energy Asset Management
• Multilateral Climate Funds Launch AI-Powered Climate Project Explorer at COP29
• Clorox Partners with Carbon Tracker Manufacture 2030 to Decarbonize Supply Chain
• Deloitte and Workiva Unveil Four ESG Tools to Streamline EU CSRD Compliance
• CDP, 20 Landscape Experts Set Standards for Sustainability Beyond Supply Chains

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