The European Central Bank (ECB) announced a decision to impose periodic penalty payments on Spanish bank ABANCA over its failure to comply with the central bank’s requirements to sufficiently identify climate risks. The announcement marks the first climate risk-related fine disclosed by the ECB, following its decision in late 2022 to step up efforts to address climate change as one of…

Apple announced plans to expand its renewable energy capacity in Australia with a new solar project under construction in Lancaster, Victoria, forming part of the company’s efforts to address the climate impact of its customer’s use of its products. Emissions from product use account for 29% of Apple’s carbon footprint, according to the company’s most recent Environmental Progress report. Addressing…

Nike announced new agreements to source recycled polyester with circular-economy cleantech companies Syre and Loop industries, Circular economy-focused cleantech companies Syre and Loop industries announced new multi-year agreements to supply Nike with recycled polyester made using textile waste, forming part of the athletic footwear, apparel, equipment, and accessories giant’s efforts to scale the use of sustainable materials. Nike has set…

The IFRS Foundation’s International Sustainability Standards Board (ISSB) announced that it will begin work on standard setting for disclosure requirements on nature-related risks and opportunities, with plans to have an initial draft released by late next year. The ISSB said that the new initiative is being undertaken in response to identified investor needs for nature-related disclosures, although it hasn’t yet…

By: Mike Hayes, Climate Changes and Decarbonization Leader, Global Head of Renewable Energy, KPMG International As delegates gather in Belém for COP30, the global spotlight is firmly on the urgent need for action and implementation in the fight against climate change. This summit, marking ten years since the Paris Agreement and halfway to the 2030 deadline, is a pivotal moment….

Singapore’s Ministry of Transport’s Civil Aviation Authority (CAAS) announced that it will be implementing a new Sustainable Aviation Fuel (SAF) Levy for travelers and cargo on all departing flights, starting in April 2026. Fees will range from S$1.00 (USD$0.77) for an economy-class passenger on a short-range flight to S$41.60 (USD$31.95) for a business-class passenger on a Americas-bound flight. The new…

Alternative investment manager AXA IM Alts announced a series of new commitments from development finance institutions for its Natural Capital and Impact investments strategy, bringing the total commitments for the nature-based projects-focused fund to over $560 million. New development finance institutions backing the strategy include the International Finance Corporation (IFC), France-based Proparco, and Germany-based DEG. Launched in late 2022, AXA…

Carbon management platform provider Carbon Direct announced today the acquisition of climate-focused AI and satellite data technology company Pachama, with the transaction aimed at enhancing Carbon Direct’s carbon project monitoring, reporting, and verification (MRV) capabilities. Founded in 2020, New York-based Carbon Direct provides an end-to-end carbon management platform, enabling companies to set targets, measure their emissions, implement reductions across operations…

CRM solutions provider Salesforce announced a series of new water-focused initiatives, including a new program targeting sustainable water usage in its data centers and energy use, as well as investments supporting local watershed resilience in Brazil and Mexico. The new commitments form part of a renewed focus by Salesforce on water, under the company’s Nature Positive Strategy. Launched in 2023,…