Behind-closed doors AGMs and multiple-class share structures endanger small and minority shareholders’ ability to engage with investee companies. European investors’ stewardship activities risk being hampered by rising barriers to their ability to exercise their shareholder rights, the International Corporate Governance Network (ICGN) has warned. In a letter to European Commission President Ursula Van Der Leyen earlier this week, the investor-led…
IPSASB Releases Proposed Climate-Related Reporting Standard for Public Sector
The International Public Sector Accounting Standards Board (IPSASB) announced the release of SRS ED 1, a new draft climate-related disclosure standard for governments and other private sector entities, which would be the first sustainability reporting standard for the public sector. The new standard is being developed with the support of The World Bank, which called on IPSASB in 2022 to lead…
EU Cuts Greenhouse Gas Emissions by More than 8% in 2023
Net greenhouse gas (GHG) emissions across the EU fell by 8.3% in 2023, according to a new report released by the European Commission, marking one of the largest declines in decades, with the exception of a 9.8% COVID-19-driven drop in 2020 (which was followed by a 4.8% increase the following year), and a significant acceleration from the 3% reduction in…
Microsoft Replacing Steel, Concrete in New Datacenters with Wood to Cut Carbon Emissions
Microsoft revealed a series of initiatives aimed at reducing the embodied carbon footprint of its datacenters, including pioneering the use of wood in construction to replace steel and concrete. The new initiatives come as Microsoft looks to address the growing emissions impact of its rapidly expanding datacenter footprints. While Microsoft has set 2030 goals to become carbon negative and to…