Jupiter Fund Management has snapped up CCLA Investment Management for £100m, subject to regulatory approvals. The deal will add £15bn in assets under management, run on behalf of charities, religious institutions and local authorities, when it completes before the end of 2025. CCLA will retain its brand, investment teams and client engagement model to ensure client continuity. Jupiter said in…
HSBC Exits Net Zero Banking Alliance
HSBC announced that it has decided to withdraw from the Net-Zero Banking Alliance (NZBA), following its North American peers to become the first major UK bank to exit the UN-backed coalition dedicated to advancing global net zero goals through their financing activities. Despite its departure from the NZBA, however, HSBC reiterated its commitment to pursue its net zero by 2050…
ESG Today: Week in Review
This week in ESG news: Mars launches $250 million sustainability solutions fund, ties exec compensation to climate goals; EU proposes major simplification of sustainability taxonomy; Google turns the corner on data center emissions, but supply chain drags carbon footprint higher; revised European Sustainability Reporting Standards may cut datapoints by two thirds; Microsoft signs 3 million ton carbon removal deal; Iberdrola,…
California Releases FAQ to Guide Companies Beginning Mandatory Climate Reporting
The California Air Resources Board (CARB), the regulator charged with developing and enforcing new regulations requiring large companies to disclose their value chain emissions and report on climate-related financial risks, announced the release of a new publication of frequently asked questions (FAQ), aimed at providing an update on its regulatory development for the new regulations, and on guiding companies preparing…
Frontier Coalition Signs $41 Million Carbon Removal Deal with Bioenergy Startup Arbor
Carbon removal buyer coalition Frontier announced a new $41 million offtake agreement with bioenergy carbon capture & storage (BECCS) company storage Arbor, to remove 116,000 tons of CO2 between 2028 and 2030, on behalf of companies including Google, Shopify, and H&M Group. The new offtake agreements will enable Arbor to proceed with its first commercial-scale plant near Lake Charles, Louisiana,…
Iberdrola, Masdar to Co-Invest Over $6 Billion in UK Offshore Wind Project
Spanish energy and electricity provider Iberdrola and UAE-based clean energy-focused developer Masdar announced today a new agreement to co-invest €5.2 billion (USD$6.1 billion) in the 1.4 GW East Anglia THREE project, marking the largest offshore wind transaction of the decade. The new agreement follows the launch by the companies of a partnership in 2023, aimed at investing up to €15 billion…
ISS STOXX Launches New Climate Data Solution for Sovereign Portfolios
ISS Sustainability Solutions, the sustainable investment business of ISS STOXX, announced today the launch of Sovereign Climate Impact Report, a new solution aimed at enabling investors to understand, measure, report, and act on climate transition-related risks and impacts of their sovereign portfolios. According to ISS, the new solution, forming part of its Climate Solutions suite, was developed in response to…