Impax Environmental Markets (IEM) has published its exit tender offer following a fall-out with US hedge fund firm Saba Capital. Last month, IEM’s board published a continuation tender offer, whereby investors would have been able to take a cash exit at close to the trust’s net asset value. However, Saba – which owns more than 20% of shares in IEM – refused…
FedEx Launches Reusable Packaging for B2B Shippers
Global delivery giant FedEx announced the launch of a new reusable packaging system aimed at enabling B2B shippers to move away from single-use packaging, reduce waste, and cut carbon emissions. The new system was developed in collaboration with logistics-focused reusable packaging provider Returnity. Founded in 2016, New York-based Returnity develops reusable packaging systems for logistics, retail and e-commerce supply chains….
ReNew Raises $95 Million to Expand Commercial & Industrial Decarbonization Platform
India-based decarbonization solutions provider ReNew Energy announced today that its commercial and industrial-focused platform ReNew Green has raised $95 million through a new equity investment. The funding was led by LeapFrog Investments, which committed $50 million, with the remaining capital provided by co-investors Emerging Market Climate Action Fund (EMCAF) and Carlyle AlpInvest. Nakul Zaveri, Global Co-Lead for Climate Investment Strategy…
Nest to Vote Against Companies that Have Scaled Back Climate Commitments
Nest, the largest workplace pension scheme in the UK by membership, announced that it has strengthened its voting policy in order to address backtracking on corporate climate commitments, stating that it may now vote against board chairs at companies that have materially scaled back their climate strategies. According to Nest, the update aligns with its climate change policy, which includes…
BNP Paribas AM Invests in Forest Restoration Developer Rainforest Builder
Forest restoration company Rainforest Builder UK announced the closing of a Series A funding round led by BNP Paribas’ alternatives asset manager BNP Paribas Asset Management Alts (BNPP AM Alts), with proceeds aimed at accelerating its community-oriented ecosystem restoration projects in West Africa. Founded in 2022, Rainforest Builder restores degraded tropical forests and generates carbon removal credits through large-scale ecosystem…
Trump Administration Sues California to Eliminate Vehicle CO2 Standards, ZEV Sales Mandate
The U.S. Justice and Transportation Departments announced that they have filed a lawsuit in federal court, aimed at striking down California regulations requiring automakers to reduce fleetwide vehicle CO2 emissions and increase the proportion of zero emission vehicle (ZEV) sales over time. The launch of the new lawsuit marks the latest in a series of moves by the Trump administration…
The Ratings Overhaul that Could Add to the Sustainability Reporting Burden
Guest post by: Sarah Walkley is Senior Sustainability Writer, Context Europe Environmental, social and governance (ESG) ratings have become an established feature of the investment landscape. Over 90% of investors refer to ESG ratings at least once a month, despite saying they have limited trust in the benchmarks. Companies pursue ratings because investors expect independent validation of their sustainability credentials….
ESG Today: Week in Review
This week in ESG news: HSBC surpasses record $100 billion sustainable finance activity; vast majority of companies removed from CSRD plan to continue sustainability reporting anyway; EU’s von der Leyen calls multi-decade move away from nuclear power a “strategic mistake”; Rabobank launches €1 billion impact investing platform; LEGO surpasses 50% sustainable materials to make its bricks; NZAOA adds transition targets…