ESG Today: Week in Review
This week in ESG news: European Commission proposes cutting emissions 90% by 2040, includes role for carbon credits in target; Microsoft signs new 1 million ton+ carbon removal deal; companies, investors campaign to keep EU sustainable reporting rules intact; JPMorgan tokenizes carbon credits; Nestlé scales program to boost cocoa supply chain sustainability; EU Commission confirms anti-greenwashing law has not been withdrawn; ISSB launches update of sector-focused sustainability reporting standards; Google signs record fusion energy deal; Switzerland pauses climate reporting requirements to await clarity on EU’s Omnibus; UBS hits fundraising target for SDG-focused impact fund; EU extends deadline for simplified sustainability reporting standards; Norway sets goal to reduce emissions up to 75% by 2035; capital raises for carbon removal tech, sustainable building materials, and more.
See below for the highlights of the past week, and get all your ESG news at ESG Today:
Sustainability Goals, Initiatives and Achievements
JPMorgan Launches Blockchain Tokenization for Carbon Credits
Phlair, Carbon Removal to Develop Largest DAC Carbon Removal Project in Europe
Nestlé Expands Program to Improve Livelihoods in Cocoa Supply Chain to 50,000 Families
Google Signs Largest-Ever Corporate Fusion Energy Purchase Deal
Microsoft Signs Deal to Remove 1.1 Million Tons of CO2 Through Waste-to-Energy Carbon Capture
British Airways to Reduce Emissions by 400,000 Tonnes Through New SAF Purchase Deal
Government & Regulators
European Commission Proposes Target to Reduce Emissions 90% by 2040
EU Regulators Propose Integrating ESG Risks into Stress Tests for Banks, Insurers
Norway Sets Goal to Reduce GHG Emissions by 70% – 75% by 2035
EU Commission Clarifies Anti-Greenwashing Law Has Not Been Withdrawn
Switzerland Pauses New Climate Reporting Requirements to Await Clarity on EU Omnibus
ESG Reporting
ISSB Kicks Off Update of Sector-Focused SASB Sustainability Reporting Standards
EU Agrees to Extend Deadline for Development of Simplified CSRD Sustainability Reporting Standards
GRI Releases Draft Labor-Focused Sustainability Disclosure Standards
ESG Services and Tools
Luxembourg Stock Exchange Launches Climate Transition Data Platform for Corporate Debt Issuers
Allianz Commercial Launches Data and Consulting Platform to Assess and Manage Climate Risks
Sustainable Finance
Guest Post – Hitting Reset: Sustainable Finance Faces a Defining Second Half in 2025
Nokia Ties Terms of New €1.5 Billion Debt to Performance Towards Value Chain Emissions Goals
Private Equity & Venture Capital
Low Carbon Building Materials Provider Terra CO2 Raises $124 Million
Climeworks Raises $162 Million to Scale Carbon Removal Solutions
Eni, Azimut Launch €100 Million Clean Energy Tech Venture Fund
Sustainable Investing
UBS Raises $100 Million for SDG-Focused Blended Finance Fund
Exec Moves
Impact Investor responsAbility Appoints Nadia Nikolova as New CEO