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ESGgo Launches AI-Powered Sustainability Reporting Solution

ESGgo Launches AI-Powered Sustainability Reporting Solution

ESG data solutions provider ESGgo announced today the launch of One-Click Sustainability Report, a new AI-powered solution aimed at enabling companies to easily produce sustainability reports aligned with regulatory frameworks and stakeholder requirements. According to ESGgo, the new solution allows organizations to streamline their sustainability reporting processes, while ensuring compliance with the evolving sustainability standards, with the company’s AI-powered data…

Phillips 66 Converts Oil Refinery to Produce Only Renewable Fuel

Phillips 66 Converts Oil Refinery to Produce Only Renewable Fuel

Energy products manufacturer Phillips 66 today announced that it has converted its San Francisco oil refinery in Rodeo, California to process only renewable feedstocks, and is now producing approximately 30,000 barrels per day of renewable diesel, with the commercial-scale production marking a significant milestone in its project to operate one of the world’s largest renewable fuels facilities. The achievement follows…

NZAOA: Climate Action “Material to Mandates”

Asset owners committed to net zero have outlined heightened expectations around asset manager assistance on climate-related voting and engagement. At a time when some US asset managers are backpedalling on climate commitments, the Net Zero Asset Owner Alliance (NZAOA) has reinforced member expectations on voting and engagement at upcoming AGMs and beyond. Echoing recent guidance, asset owners this week warned…

Morgan Stanley Acquires Energy Transition Solutions Provider Resource Innovations

Morgan Stanley Acquires Energy Transition Solutions Provider Resource Innovations

Morgan Stanley Investment Management’s middle-market focused private equity team Morgan Stanley Capital Partners (MSCP) announced the acquisition of energy efficiency and sustainability-focused services and solutions provider Resource Innovations. Founded in 2016, San Francisco-based Resource Innovations works with organizations including utilities, government agencies and corporate clients to help meet their energy transition and decarbonization goals. The company provides advisory services, program…

Shell Appeals Court Ruling Ordering it to Slash Emissions by 2030

Shell Appeals Court Ruling Ordering it to Slash Emissions by 2030

A Dutch appeals court began hearings on an appeal brought by energy giant Shell against a landmark 2021 ruling holding the company responsible for greenhouse gas emissions resulting from its customers’ use of its products, and ordering the company to dramatically reduce emissions by the end of the decade. In a statement released by Shell prior to the beginning of…

German Article 8 Funds Grow by a Fifth

Number and volume of ‘dark green’ funds also begin to recover following swathe of SFDR Level 2 downgrades in Q1 last year. A rebound in Article 8 and 9 products over past year leaves sustainable funds accounting for the majority of the German market, according to Scope Ratings. The European fund ratings provider’s recent report noted the momentum of Article…

Varma Takes Biodiversity Policy to Next Level

Data limitations make full visibility of portfolio risks an ongoing challenge, the asset owner admits in its 2023 sustainability report.   Finnish pension provider Varma is to dig deeper into the data after uncovering limited levels of progress by investee companies on biodiversity-related accounting and reporting.   In its latest annual and sustainability report, Varma summarised the findings of a 2023 biodiversity…

Shoulder to Shoulder

Investors encouraged to work more closely with unions to protect the rights and livelihoods of workers in the fast-expanding gig economy. It has been almost eight years since Uber lost a high-profile labour rights case at a UK employment court which declared the firm could no longer describe drivers as self-employed. The 2016 landmark ruling ensured thousands of workers were…

Hope for EU’s Nature Law Despite Political Obstacles 

June resolution mooted after EU Council members struggle to reach agreement on Nature Restoration Law.   The future of the EU’s Nature Restoration Law (NRL) remains in limbo after the Prime Minister of Belgium, which currently has presidency of the EU Council, reportedly said that the law is “bad” and needs to “go back to the drawing board”.   His…

UBS Launches New Net Zero-Aligned S&P 500-Based ETF

UBS Launches New Net Zero-Aligned S&P 500-Based ETF

UBS Asset Management (UBS AM) announced the launch of the S&P 500 Climate Transition ESG UCITS ETF, a new exchange traded fund aimed at investors seeking U.S. large cap exposure with net zero alignment and an improved ESG profile. Listed across European exchanges, including the London Stock Exchange, Xetra, Borsa Italiana and SIX Swiss Exchange, the new fund is the…