HSBC Asset Management’s Global Head of Sustainability Erin Leonard will be leaving the firm, ESG Today has confirmed, marking the latest in a series of changes to HSBC’s sustainability-focused executive ranks. Leonard’s departure comes as HSBC undergoes a restructuring under new CEO George Elhedery. In November 2024, the firm announced the departure of Group Chief Sustainability Officer Celine Herweijer, after…

This week in ESG news: IFRS eases climate reporting requirements for financial firms; MSCI study finds companies continuing to raise net zero ambitions; EU’s ESMA to regulate ESG ratings providers; new decarbonization-focused sustainable building standard by USGBC; BoE raises climate risk management expectations for banks; RBC scraps sustainable finance target due to new greenwashing rules; ESG funds suffer outflows in…

Industrial decarbonization-focused private equity investor Ara Partners announced that it has raised more than $800 million at the closing of the debut fund of its Ara Infrastructure strategy, and associated co-investment vehicles, aimed at investing in in mid-market decarbonization infrastructure assets. The fundraising significantly exceeded the fund’s $500 million target. Launched in 2022, the strategy, led by Ara co-Heads of…

EU markets regulator the European Securities and Markets Authority (ESMA) announced today the publication of its draft Regulatory Technical Standards (RTS) under the EU’s ESG Rating Regulation, setting out its proposed rules for ESG ratings providers. The publication follows the adoption by the European Commission in late 2024 of the ESG Rating Regulation, aimed at improving the reliability, transparency and…

Digital supply chain solutions provider Blue Yonder announced the acquisition of the business of logistics-focused climate data tech startup Pledge Earth Technologies, with the transaction aimed at enhancing Blue Yonder’s capabilities to help customers assess and reduce supply chain emissions. Founded in 2021, UK-based Pledge provides solutions enabling enterprises to calculate and report emissions across their logistics supply chains. The…

The Bank of England (BoE) announced today a series of proposals strengthening its expectations for banks’ and insurers’ management of climate-related risks, after finding that while improvements in this area have been made over the past few years, “progress is uneven and more needs to be done.” The new proposals would update the BoE’s initial 2019 supervisory expectations for firms’…

Circular economy startup Syre announced that it has signed an agreement with the province of Binh Dinh, Vietnam with the intention to establish the company’s first “Gigascale” textile-to-textile recycling plant in the province. Founded in 2024, Syre was launched by fashion and design brands company H&M Group and impact-focused venture investor Vargas, to enable the mass production of textile-to-textile recycled…

Clean energy developer and operator Clearway announced a new long-term power purchase agreement with Microsoft, providing the tech giant with 335 MW of energy from its Mount Storm wind farm project in West Virginia. Clearway acquired the Mount Storm wind farm in 2021, and is currently undergoing a project to repower the facility. The $735 million repowering project includes increasing…

“Nothing in our rules, including those related to sustainability, prevents investment or finance for defence companies.” That was the clear message from the UK’s Financial Conduct Authority earlier this year, following similar guidance from the European Commission last October. The implication is straightforward: from a regulatory standpoint, defence is not off-limits to ESG funds. However, for fund managers, the question…