Data-driven platform seeks to empower mid-tier trustees and sponsors with rollout of ESG-focused module. The information shortfalls facing smaller pension schemes when developing sustainable investment strategies are the inspiration for Independent Governance Group’s (IGG) recently released IGGiQ tool, which aims to improve ESG data integration and management. The UK-based pensions trusteeship and governance services provider has partnered with ESG data…
Sustainable Building Solutions Provider Bisly Raises €6.2 Million
Sustainable building solutions provider Bisly announced today that it has raised €6.2 million (USD$6.7 million) in a Series A funding round, with proceeds to be used for its European expansion, including in Germany and the United Kingdom, where the company has already opened offices. Buildings are a key source of global greenhouse gas (GHG) emissions, and also one of the…
Swiss Government Allows Financial Sector to Self-Regulate Greenwashing Prevention
Switzerland’s Federal Council announced today that it will hold off on regulating greenwashing in the financial sector, allowing instead for the industry to monitor itself, following progress made by the sector’s associations in developing and implementing self-regulatory provisions. The decision follows the release in December 2022 of a paper by the Swiss Federal Council outlining its position on the prevention…
LD Carbon Raises $28 Million to Scale Sustainable Tire Recycling Capacity
Circular economy technology company LD Carbon announced today that it has raised $28 million in a Series C funding round led by Toyota’s growth fund, Woven Capital. The company will use the investment to scale its operations recycling end-of-life tires and material from end-of-life vehicles into recovered carbon black and pyrolysis oil. Founded in 2017, South Korea-based LD Carbon produces…
Deloitte, DSM-Firmenich Partner on Sustainable Food Supply Chain Solutions
Global professional services firm Deloitte and nutrition, health, and beauty company dsm-firmenich announced today the launch of a new strategic collaboration aimed at providing solutions for the agricultural sector to improve the sustainability of the food supply chain, with a particular focus on sustainable animal protein production. Agriculture has emerged as a major focus area for sustainability and climate action,…
Frontier Signs Deal to Buy $49 Million Biomass-Based Carbon Removal Credits from Stockholm Exergi
Carbon removal buyer coalition Frontier announced that it has facilitated offtake agreements to purchase $48.6 million of carbon removal output generated by Stockholm Exergi’s planned bio-energy with carbon capture and storage (BECCS) facility in Sweden, on behalf of buyers including Alphabet, Meta, JPMorgan Chase, and H&M, among others. Launched in April 2022 with commitments by tech companies Stripe, Alphabet, Shopify and…
EU Regulators Propose New Sustainability and Transition Categories for Financial Products
Europe’s three primary financial regulatory agencies, the European Supervisory Authorities (ESAs), announced the publication of a new assessment of the Sustainable Finance Disclosure Regulation (SFDR), proposing a series of changes and updates to the regulation, including the introduction of new “Sustainable” and “Transition” categories for financial products such as investment funds, life insurance and pension products. The ESAs include The…
Hershey Commits to Cut Agriculture, Value Chain Emissions
Chocolate, candy and snacks producer Hershey announced today a series of new climate-related goals, with new targets to reduce emissions originating in its value chain, including Forest Land and Agriculture (FLAG) emissions. According to Hershey’s 2023 ESG report, Scope 3 emissions, or those originating in the company’s value chain outside of its direct control, account for the vast majority, roughly…