The European Council announced the adoption by EU Member States of a new regulation introducing circularity requirements for vehicles across their lifecycle, including recycled content in design, making vehicles easier to dismantle, repair, reuse and recycle, and making carmakers responsible for treatment of end-of-life vehicles. The adoption by the Council marks the last major step in the legislative procedure for…
New Zealand’s External Reporting Board (XRB) announced the launch of a new consultation into a proposal to adopt a new climate reporting standard based on the IFRS Foundation’s IFRS S2 as the basis for its climate disclosure regime, although the new standard would only become mandatory for companies beginning in 2033 under the proposal. New Zealand has had a mandatory…
Carbon removal project developer Deep Sky announced the delivery of the first certified direct air capture (DAC) carbon removal credits in North America to offtakers Microsoft and Royal Bank of Canada (RBC). Founded in 2022, Montreal-based Deep Sky was established as a technology-agnostic carbon removal project developer, with projects underway in Canada utilizing methodologies from direct air capture (DAC) to…
Guest post by: Takehiro Kawahara, Aviation Specialist at BloombergNEF Rising environmental compliance costs are set to squeeze airline profitability over the next decade, as sustainable aviation fuel (SAF) mandates and carbon pricing policies tighten. BloombergNEF estimates those costs could reach $48 billion by 2035, quadrupling from 2026 levels and pushing some airlines into loss-making territory if revenue fails to keep…
Generation Investment Management, a sustainability-focused investment firm chaired by former U.S. Vice President Al Gore, announced today the close of Sustainable Private Equity Fund II (SPEF II), raising more than $1 billion for the sustainable transformation-focused fund. The fund is the second vehicle in Generation’s private equity strategy and targets investments in scaled, mission-critical businesses driving the sustainability transformation of…
The World Bank Group announced that it will extend its Climate Change Action Plan, its strategy to support countries and private sector clients to address climate and development challenges together, but that it will also retire a key target committing 45% of its financing to projects with climate co-benefits. The World Bank’s climate finance activity has increased significantly since launching…
Food technology company Protein Brewery announced today that it has raised €18 million (USD$20.5 million) in an extension of its Series B funding round, led by new investor ABN AMRO Sustainable Impact Funds, bringing the company’s total funding raised to date to more than €70 million (USD$79.8 million). Founded in 2020 as a spin-off from Dutch biotechnology company BioscienZ, Netherlands-based…
Amazon announced a new investment in biofuels-focused biotechnology company GranBio, aimed at accelerating the development and commercialization its technology that converts forestry residues and construction waste into sustainable aviation fuel (SAF). According to Amazon, the investment forms part of its work to develop and test emerging technologies with the potential to reduce carbon emissions across its global operations, including transportation,…
The IFRS Foundation’s International Sustainability Standards Board (ISSB) has proposed allowing companies to use Taskforce on Nature-related Financial Disclosures (TNFD) disclosure metrics to help meet nature-related disclosure requirements, and confirmed that it will draw on the TNFD framework in developing its upcoming draft Practice Statement for nature-related disclosures. The update comes as the ISSB is in the process of developing…