ESG News: Week in Review
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June 2023 Week-2; Germany launches $53 billion to help companies shift toward carbon neutrality; Japan to invest $107 billion in hydrogen supply; Uruguay plans $4 billion green hydrogen facility investment; Biden, Sunak sign US-UK agreement; Biden moves to nix US states’ challenge to ESG investing rule; Uber to eliminate emissions on deliveries by 2040; Swiss regulator finds FIFA made false claims about carbon neutrality; Mercedes-Benz and H2 Green Steel sign green steel agreement
See below for the highlights of the past week:
Sustainability Goals, Initiatives and Achievements
- The Armani Group Announces New Regenerative Cotton Project in Italy
- IATA and ATPCO Partner for Flight Emissions Data Calculations and Distribution
- Nescafé Plan 2030 Shows Progress on Farmers’ Transition to Regenerative Agricultural Practices
- Mercedes-Benz and H2 Green Steel Sign Green Steel Agreement
- Uber To Eliminate Emissions On All Uber Eats Deliveries Globally By 2040
Executive Moves
ESG Around the World
- Germany Launches $53 Billion Scheme To Help Companies Shift Toward Carbon Neutrality
- Germany Targets $2.1 Billion in Funding for Thyssenkrupp Green Steel Plant
- Japan To Invest $107 Billion in Hydrogen Supply Over 15 Years
- Bangladesh Receives $858 Million from World Bank to Improve Climate Resilient Agriculture Growth
- Hurtigruten Norway Unveils its First Zero-Emission Cruise Ship
- Uruguay Plans $4 Billion Green Hydrogen Facility Investment
Government & Regulators
- Biden Admin Moves to Nix US States’ Challenge to ESG Investing Rule
- Biden-Harris Administration Releases First-Ever National Clean Hydrogen Strategy and Roadmap to Build a Clean Energy Future
- Swiss Regulator Finds FIFA Made False Claims About Carbon Neutrality at Qatar World Cup
- IDB Approves $400 Million Loan to Boost Chile’s Green Hydrogen Industry
- Biden, Sunak Sign New US-UK Agreement to Accelerate Energy Transition
ESG Services & Tools
ESG Investing
- Just Climate Announces Close of Inaugural $1.5 Billion Industrial Climate Solutions Fund
- Ørsted To Invest $68 Billion in Power Capacity by 2030
- EU Modernisation Fund Invests €2.4 Billion to Accelerate the Green Transition in 7 EU Countries
- SKF To Invest Up To $278 Million To Meet Decarbonization Goal By 2030
Sustainable Finance
- World Bank Approves $450 Million for Greener Industrial Sector in Türkiye
- EIB Grants €200 Million to Sicredi for SMEs and Households’ Solar Energy Investments
- EIB Commits €110 Million to Support EVN Investment in Wind Farms
- Garanti BBVA Renews its ESG Syndicated Loan
- BMW Group Successfully Completes €8 Billion Revolving Credit Facility Including Strategic Focus on Sustainability
- Aquila Capital Secures $21 Million from Ashikaga Bank for Japan Solar Project
- Ørsted To Issue €100 Million Blue Bond To Support Biodiversity
Energy Transition
- GM and POSCO Future M to Expand EV Battery Supply Chain in North America
- Ørsted and Vestas Team for Industry-first Partnership Towards Net Zero Wind Farms
- Iberdrola Steps Up Green Ammonia Plans With $800 Million Project
Social Responsibility & DEI
ESG Research & Reporting
- World Economic Forum and ISSB Partner to Compile Learnings on Early Sustainability Reporting Efforts
- IEA Report: Doubling Global Pace of Energy Efficiency Progress by 2030 is Key to Reach Net Zero
- US Solar Market Registers Best Q1 in Industry History as Supply Chains Stabilize