This week in ESG news: EU delays new sustainability reporting requirements for large companies; HSBC exits Net Zero Banking Alliance; Microsoft signs one of largest-ever carbon removal deals; UK drops plans for sustainable finance taxonomy; Google signs record clean energy deal with Brookfield; EU watchdog questions Commission’s fast-track approach to Omnibus; ECB says banks are getting better at managing climate…
Energy giant bp announced today an agreement to sell its onshore wind business, bp Wind Energy, to power and energy infrastructure developer and operator LS Power, forming part of bp’s strategy to refocus on growing its oil and gas business. bp Wind Energy’s portfolio includes 10-grid connected wind assets in the U.S. across states including Indiana, Kansas, South Dakota, Colorado,…
ESG-focused software analytics platform provider Datamaran announced the launch of Datamaran Suite, a new platform aimed at enabling companies to manage their ESG strategies, with capabilities including benchmarking sustainability disclosures to industry peers, and setting evidence-based targets. Datamaran said that the new platform was built on the foundation of the recently launched Datamaran Core, designed to support companies in identifying, managing,…
1PointFive, the carbon capture, utilization and sequestration (CCUS)-focused subsidiary of energy giant Occidental (Oxy), announced a new agreement with cybersecurity firm Palo Alto Networks for the purchase of 10,000 tons of carbon dioxide removal (CDR) credits over five years. The credits will be generated using direct air capture (DAC) technology from 1PointFive’s STRATOS facility, which is set to come online…
Chrysler, Dodge, Jeep, and Citroen parent Stellantis announced that it has decided to discontinue its hydrogen fuel cell technology development program due to a lack of progress in the hydrogen market. As part of its decision, Stellantis said that it has dropped its plans to launch a new range of hydrogen-powered vehicles this year. The expansion of hydrogen fuel cell…
General Motors and circular economy-focused battery materials provide Redwood Materials announced the launch of a new agreement, aimed at accelerating the deployment of energy storage systems based on both second-life battery packs from GM electric vehicles and new batteries produced by GM. Energy storage forms one of the key building blocks for the rapidly expanding clean energy transition, given the…
Microsoft and waste management solutions startup Vaulted Deep announced today a new long-term offtake agreement, with Vaulted Deep delivering up to 4.9 million tonnes of durable carbon dioxide removal over 12 years through its process of storing organic waste deep underground, marking one of the largest-ever carbon removal deals globally to date. Spun out of injection well-focused waste management company…
The vast majority of large U.S. companies are maintaining or even increasing investments in ESG initiatives, as most executives view sustainability as a driver of competitive advantage and growth, but many are talking less about it publicly in the face of growing political and regulatory scrutiny, according to a new survey released by business sustainability ratings and solutions provider EcoVadis….
Apple has announced a $500 million multi-year agreement with MP Materials, a fully integrated US-based rare earth producer, to buy domestic rare earth magnets developed at MP Material’s flagship facility in Texas. The deal will also see the two companies launch a new rare earth recycling line in Mountain Pass, California, and develop novel magnet materials and processing technologies to…