Welcome back to the ESG News Week In Review!

To get ESG News’s full ‘ESG News Week In Review’ and ESG News Daily email newsletter, subscribe here.

ESG NEWS SMART READ OF THE WEEK

Tim Mohin: Investors Rally Behind SEC Climate Rule

To say the SEC’s Climate Rule has gone through the wringer would be an understatement. The policy has faced fierce opposition from the start. 

Key Impact Points:

• Growing support for the SEC Climate Rule, with 16 amicus briefs from large state pension funds, institutional investors, and environmental groups, despite opposition from business groups and Republican State Attorneys.
• The SEC Climate Rule aims to provide investors with climate-related risk information, with backing from institutional investors managing over $2 trillion, reinforcing the SEC’s investor-focused mandate.
• Global sustainability reporting regulations are advancing, potentially forcing U.S. companies to comply with more stringent international standards, highlighting the risk of the U.S. becoming a rule-taker rather than a rule-maker.

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

• Australia Passes Landmark Bill Mandating Climate Risk Disclosures for Companies
• EU’s First Onshore CO2 Removal Project Launched By RepAir Carbon US Inc. and C-Questra
• 98% of Executives have Reported Progress Toward Their Sustainability Goals Over the Past Year, Says Deloitte Report
• 60% of Global Investors Report That ESG Investing Results in Higher Performance Yields: Sustainability Megatrends Report
• New Zealand Halves Emission Credits to Strengthen ETS Market and Achieve Climate Goals
• South Africa’s Regulator Deems TotalEnergies’ Sustainability Claim Misleading, Highlighting Global Crackdown on Greenwashing

CLIMATE & ENERGY TRANSITION

• Brazil’s $1.1 Billion Push for Sustainable Jet Fuel
• Japan Drives Asia’s Energy Transition with 70 New MOUs
• China’s Coal Power Permits Drop 80% in H1 2024
• Australia Approves $13.5B SunCable Solar Project to Export Green Energy to Singapore
• India Targets Zero-Emission Trucks by 2050 with 30 Policy Interventions to Accelerate Electrificationv
• Boeing Fuels Australia’s SAF Future with Strategic Investment
• ESG Book Partners with Vyzrd to Strengthen Climate Risk and ESG Analytics
• KLA’s Science-based Targets for GHG Emissions Earn SBTi Validation

And More…

SUSTAINABLE FINANCE

• China’s National Development Bank Issues $1.7 Billion in Green Bonds to Fund Key Sustainability Projects
• Amprion Secures €1.1 Billion for Green Energy Projects
• India Proposes Expansion of Sustainable Finance Framework in Securities Market
• World Bank Secures €2.5B for Sustainable Development in 7-Year Bond Deal
• Canada Growth Fund Invests US$100 Million in Svante to Accelarate Carbon Capture and Removal Projects

And More…

SUSTAINABILITY GOALS, INITIATIVES AND ACHIEVEMENTS

• PETRONAS, ADNOC, and Storegga Collaborate on Major Carbon Capture Hub in Malaysia’s Penyu Basin
• New Survey Reveals Over 80% of U.S. Companies Building Net-Zero Programs Ahead of Legislation
• Google Leads the Charge with 100% Plastic-Free Packaging
• Deep Sea Mining: A High-Stakes Threat to Biodiversity and Corporate Sustainability
• 68% of Business Leaders Believe Procurement Drives ESG goals: SAP Report
• Robeco Intensifies Voting Against Directors Over Deforestation Concerns

ESG & SUSTAINABILITY REPORTING

• NGFS Unveils Dual Reports on Nature-Related Financial Risks and Litigation
• US Oil and Gas Sector Increases Production and Enhances ESG Performance Despite Price Drops: EY Report
• Australia Passes Landmark Bill Mandating Climate Risk Disclosures for Companies, Enhancing Transparency and Global Alignment
• PAFA Board Approves Strategy for Groundbreaking Centre of Excellence for Sustainability to Enhance ISSB Standards Across Africa

Sustainability Leaders

• Uber Appoints Ex-Tesla Exec Rebecca Tinucci to Lead Global EV Transition, Backed by $800M Investment
• Aramex Appoints Manosij Ganguli as New Chief Sustainability Officer
• Better Cotton Council Appoints Bill Ballenden and Tamar Hoek as Co-Chairs, Welcomes New Members to Drive Cotton Sustainability

ESG INVESTING & FUNDS

• 73% of Private Equity Managers Now Boast Robust ESG Processes, LGT Capital Partners’ ESG Report
• 44% of German Households Ready for Green Investments but Lack Crucial Information, KfW Survey
• ESG Integration Gains Momentum Amid Data Quality Challenges, Deloitte Sustainability Action Report
• Japan’s Steady Approach to ESG Investing Gains Momentum Amid Global Uncertainty
• 60% of Global Investors Report That ESG Investing Results in Higher Performance Yields: Sustainability Megatrends Report

TECHNOLOGY, ESG TOOLS & SERVICES

• Google-Funded Mission:Data Launches Interactive Map to Educate Policymakers on U.S. Energy Data Access
• EQT Private Equity to Acquire Majority Stake in AMCS, Advancing Circular Economy and Sustainability Software for Resource-Intensive Industries
• Iberdrola Leverages AWS Generative AI to Boost Innovation and Sustainability in Energy

Related Article: ESG News Week In Review: 12 August – 18 August