Since Donald Trump was re-elected as US president, commentary around sustainable investing has been increasingly negative as the president promised to “drill, baby, drill” and exit the Paris Agreement. However, Parmenion’s senior investment manager Mollie Thornton says Biden’s Inflation Reduction Act will likely survive and there is plenty to be optimistic about. There has been a lot of negative sentiment…
WeeFin Raises $27 Million to Expand ESG Data Management Platform for Financial Institutions
Sustainability-focused fintech startup WeeFin announced that it has raised €25 million (USD$27 million) in a Series B funding round, with proceeds aimed at expanding internationally and develop its offerings to help financial institutions manage their sustainability strategies. Established in 2018, Paris-based WeeFin provides solutions aimed at enabling financial institutions to deploy more ambitious sustainability strategies, by centralizing ESG processes ranging…
XGS Energy Raises $13 Million to Deploy Geothermal Energy Projects
Clean energy company XGS Energy announced that it has raised $13 million in a new financing round, with proceeds aimed at expanding its geothermal energy technology, financing new projects, and growing its team. Founded in 2008, California-based XGS Energy provides heat-harvesting technology to enable access to affordable and carbon-free geothermal energy. The company’s solution drills a single directional well to…
Intertek Launches New Solutions Enabling Compliance with EU’s New Deforestation Regulation
Quality assurance and certification provider Intertek announced the launch of a new suite of tools aimed at helping companies to comply with the supply chain management requirements of the EU’s new Deforestation Regulation (EUDR), set to go into effect at the end of the year. The EUDR was initially introduced by the EU Commission in November, 2021, with proposals aimed…
L’Oreal Reaches 100% Renewable Energy in Europe
Beauty company L’Oréal announced that it has reached 100% renewable energy for its European operations – including factories, distribution centers and offices – as of December 2024. The announcement marks a significant step towards the achievement of one of the company’s key sustainability goals under its “L’Oréal for the future” strategy, which include targets to reach carbon neutrality and 100%…
Guest Post – Navigating Climate Risk: Internal Audit’s Role in Assurance and Strategic Insights
By: Jim Pelletier, Lead Product Manager at Wolters Kluwer TeamMate Organizations are facing an escalating challenge in the form of climate risk and the potential disruption it represents. Businesses are experiencing increased physical and transitional risks, impacting financial stability and operational continuity, and calling long-term strategic direction into question. Internal audit, uniquely positioned to provide assurance and insights, can help…