Dutch regulator proposes overhaul ahead of green fund consultation closure, France follows Belgium in revising SRI label to exclude fossil fuel developers. Industry experts have stressed the need for simplicity and clarity around Europe’s ESG fund labelling, as the European Commission’s Sustainable Finance Disclosure Regulation (SFDR) consultation deadline looms. Regulators around Europe have been increasingly active this month, coming…
Nucor Sets Goal for Net Zero Steelmaking Across Value Chain by 2050
Steel manufacturer Nucor Corporation announced a series of new climate targets, including a goal to achieve net zero emissions across Scopes 1, 2 and 3 from the production of hot rolled steel. According to Nucor, the new commitments make the company the first diversified steelmaker in the U.S. to set GHG reduction targets encompassing all three scopes. Steelmaking is one…
Amazon Announces its First Brownfield Renewable Energy Project on Abandoned Coal Mine
Amazon announced today that it has invested in 78 new solar and wind energy projects so far this year, including its first brownfield project built on a brownfield, built on a site abandoned due to industrial pollution. The new brownfield project, Amazon Solar Farm Maryland–CPV Backbone, is being built on the site of the recently closed Arch Coal Mine in…
EU Commission Funds €400 Million Climate, Biodiversity & Circular Economy Projects
The European Commission announced today that it has today approved more than €396 million in funding for climate and environmental sustainability projects in areas including nature and biodiversity, circular economy and quality of life, climate change mitigation and adaptation, and clean energy transition. The new investments are being made under the LIFE Programme, the EU’s funding instrument for the environment…
Geothermal Engineering Raising $745 Million to Produce Zero Carbon Lithium for EVs
Geothermal heat and power company Geothermal Engineering announced today that it is raising £600 million (USD$745 million), with proceeds used to expand its production of zero carbon lithium, a biproduct of its geothermal projects, for use in the rapidly growing electric vehicle market. Lithium is a key input in most energy storage system, and rapidly rising demand for the material…
Guest Post: Climate Risks To Financial Performance Are Hugely Under-estimated
By: Emma Cutler, Senior Analyst, Verdantix News of climate change- and El Nino-driven drought slowing traffic in the Panama Canal hit headlines last week. Where the news will likely never appear, however, is firms’ own reporting, even for those that experience significant losses, at least not as a climate-related loss. Though the World Meteorological Organization cites economic damage from droughts…