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ESG NEWS SMART READ OF THE WEEK

Tim Mohin – EU Trade Rules: Shaping Global Sustainability

As the world’s largest trading bloc, the EU uses its considerablepurchasing power to meet its ambitious sustainability goals. In doing so, the EU’s new rules will reach well beyond its borders and will advance sustainability practices worldwide. 

Key Impact Points:

1. Global Influence: The EU’s new trade rules aim to extend its sustainability standards worldwide, impacting non-EU companies doing business in Europe.
2. Major Regulations: Key policies include the European Union Deforestation Regulations (EUDR), the Carbon Border Adjustment Mechanism (CBAM), and the Corporate Sustainability Due Diligence Directive (CS3D).
3. Compliance Challenges: These regulations require companies to track and report sustainability metrics, leading to increased costs and penalties for non-compliance.
4. Trade Implications: The EU’s approach could lead to broader adoption of sustainability practices but also sparks debates on protectionism and global trade dynamics.

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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. Submit your ESG Smart Read to [email protected]

ESG AROUND THE WORLD

• Google, Meta, Microsoft, Salesforce Form Symbiosis Coalition for Nature-Based Carbon Removals
• Honda Announces Investment of $65 Billion Over 10 Years to Bolster EV Push
• BlackRock Keeps $7.3 Billion Investment Contract with Oklahoma Public Employees Retirement System After ESG Law Pause

CLIMATE & ENERGY TRANSITION

• Capgemini and Schneider Electric Launch New Platform to Optimize Energy Use
• Ørsted and Microsoft Expand Carbon Removal Partnership with New 1 Million Tonnes Agreement
• Google Launches First Offsite Heat Recovery Project in Finland, Providing 97% Carbon-Free Energy to the Local Community
• Private Equity Group Quinbrook Launch $3.5 Billion ‘Green Iron’ Project, Powered By Renewables
• BCG Partners with Twelve for Sustainable Aviation Fuel, Aiming for Net-Zero by 2030
• Asia-Pacific Investment firm PAG Closes First Renewable Energy-Focused Fund at USD550 Million

And More…

SUSTAINABLE FINANCE

• Qatar’s $2.5 Billion Green Bond Issuance Marks Historic Debut
• BNP Paribas Asset Management Launches Global Equity SRI PAB ETF, Expanding Climate Fund Range
• Microsoft and G42 Announce $1 Billion Investment in Green Data Center Infrastructure in Kenya
• LanzaJet Secures $20 Million from Groupe ADP to Advance Sustainable Aviation Fuel Technology
• Novo Holdings, A.P. Moller Holding Invests €150 Million in Sustainable End-of-life Tyre Recycling Company CIRCTEC
• MAS and PBC Collaborate to Advance Green and Transition Finance
• IMF reaches staff-level agreement with Tanzania on $790M Climate Resilience and Sustainability Facility Financing

And More…

SUSTAINABILITY GOALS, INITIATIVES AND ACHIEVEMENTS

• Atem launches free Carbon Cockpit to empower every company to succeed with carbon offsetting
• EA SPORTS FC FUTURES Partners with UNICEF, Highlights Year One Impact in Global Game Growth
• Holcim Launches GO4ZERO Plant in Belgium, Aiming for 2 Million Tons of Net Zero Cement Annually by 2029
• 280 Earth Launches Oregon’s First Direct Air Capture Plant, Secures $50M in Series B Funding

ESG REPORTING

• Infor Introduces GenAI and ESG Reporting Features for Industry-Specific Productivity and Environmental Footprint Tracking
• Bloomberg Law Survey Reveals 61% of Attorneys Say SEC Climate Disclosure Rule Won’t Remain Intact
• ERM and Workiva Form Partnership to Enhance Climate and Sustainability Reporting for Clients

ESG LEADERS

• LeapFrog Strengthens Climate Strategy with Key Appointments and Support from Temasek, EIB
• PPG Appoints Dr. Syafrina Sharif as Global Head of ESG & Sustainability

ESG INVESTING & FUNDS

• Morningstar Sustainalytics Partners with Climate Bonds Initiative to Advance Sustainable Finance
• Asia-Pacific Investment firm PAG Closes First Renewable Energy-Focused Fund at USD550 Million
• BlackRock Keeps $7.3 Billion Investment Contract with Oklahoma Public Employees Retirement System After ESG Law Pause

RESEARCH & ANALYSIS

• Bloomberg Law Survey Reveals 61% of Attorneys Say SEC Climate Disclosure Rule Won’t Remain Intact
• Morgan Stanley Report: Value Creation Drives Corporate Sustainability, Despite High Investment Costs

TECHNOLOGY, ESG TOOLS & SERVICES

• Worldly Introduces Sustainability Data Solution for Enhanced Supply Chain Transparency and Compliance
• Normative Launches Enhanced carbon reduction features to accelerate your net-zero journey
• IBM Envizi Enhances ESG Planning and Forecasting with AI

Last Weeks Review: ESG News Week In Review: 06 May – 12 May