HSBChas officially withdrawn from theUnited Nations(UN)-backedNet-Zero Banking Alliance (NZBA), becoming the first major UK bank to do so. This decision has sparked debate across the financial world — is this a step toward climate pragmatism, or a retreat from accountability? As more banks question the value of collective climate commitments, the rise of AI in sustainability could reshape the net-zero…
GRI Releases Proposed Sustainability Reporting Standard for Textile and Apparel Sectors
The Global Reporting Initiative (GRI) announced today the release of the Textiles and Apparel Sector Standard exposure draft, aimed at enabling companies operating in the textile, apparel, footwear and jewelry sectors to report on key sustainability impacts in areas including human rights and the environment. GRI Sustainability Reporting Standards are one of the most commonly accepted global standards for sustainability…
Guest Post: Omnibus Gives Everyone Time – Let’s Use it Well
By: Jan Niewold, EY Climate Change and Sustainability Services The European Commission’s proposals for simplification across its sustainability reporting regulations have triggered a wave of attention, and rightly so. When regulatory timelines shift, and the requirements change, companies may need to take stock and adjust. Regulations as important as those addressed in the Omnibus package are bound to lead to…
Unblock Raises $13.5 Million to Convert Wasted Energy into Computing Power
Energy infrastructure startup Unblock has raised $13.5 million in a funding round, with proceeds to be used to expand its efforts to convert wasted energy into computing power across Latin America. Founded in 2021, Unblock deploys modular data centers at remote energy sites and captures any gas that would otherwise be flared or curtailed renewable energy. The company has said…
Microsoft Partners with Novata to Provide Sustainability Data and Reporting Solutions to SMEs, Suppliers
Microsoft and private markets ESG-focused data solutions provider Novata announced the launch of a new collaboration aimed at scaling sustainability data solutions for small and medium enterprises (SMEs), including plans to co-develop AI-powered tools and to provide smaller companies – including Microsoft suppliers – with climate reporting tools. New York-based Novata is a public benefit corporation founded in 2021 by…
Shell, Accenture and Amex GBT Expand SAF Purchasing Platform to Multiple Fuel Suppliers
Shell, Accenture and American Express Global Business Travel (Amex GBT) announced a series of changes to their blockchain-powered sustainable aviation fuel (SAF) book-and-claim platform, Avelia, aimed at expanding it into a broader industry solution to help scale the adoption of SAF, including opening up the platform to multiple fuel suppliers beyond Shell Aviation. Launched in 2022 with 1 million gallons…
EU Delays Increased Sustainability Reporting Requirements for Large Companies by 2 Years
The European Commission announced the adoption of a series of “quick fix” amendments to the European Sustainability Reporting Standards (ESRS), delaying the addition of new requirements for large companies already reporting under the Corporate Sustainability Reporting Directive (CSRD), including new disclosures in areas including biodiversity, workers in the value chain, and Scope 3 emissions. The amendments come as the EU…