The U.S. Securities and Exchange Commission (SEC) has told the U.S. Court of Appeals that it does not intend to review or revisit its climate disclosure rules for companies, and asked the court to rule on rule on petitions filed against the rules. The SEC also declined to say whether it would uphold the climate disclosure rules if the court ruled…
By: Pierre du Rostu, CEO of AXA Digital Commercial Platform The protection gap describes the difference between the total losses caused by an event and the proportion of those losses covered by insurance. The wider the protection gap, the greater the difference between what needs to be covered and what is. Insurers aim to close the protection gap so that…
Sustainability standards body Gold Standard announced the publication of its Engineered Removals Activity Requirements, a new framework aimed at setting benchmark requirements for the certification of high-integrity engineered carbon dioxide removal (CDR) projects. Engineered removals refer to technology-based solutions that physically extract CO2 from the atmosphere, such as direct air capture (DAC) and bio-energy with carbon capture and storage (BECCS)….
Climate data solutions provider Jupiter Intelligence announced the launch of a series of new tools, aimed at enabling banks and asset managers to quantify physical climate risk within their portfolios and to calculate the ROI on resilience investments. The new tools will form part of Jupiter Intelligence’s flagship ClimateScore Global climate analytics platform. Launched in 2020, the platform was designed…
Goldman Sachs Alternatives announced an agreement by its infrastructure team to acquire non-hazardous liquid waste management services provider Liquid Environmental Solutions (LES), from Boston-based investor Audax Private Equity. Founded in 2002, Texas-based LES manages non-hazardous liquid waste for clients across sectors including restaurant, grocery chain, hospitality, education, and environmental services across the U.S. The company collects, treats, and recovers materials…
Facebook, Instagram, and WhatsApp owner Meta and Alberta-based energy company Enbridge announced a new long-term contract with Enbridge supplying Meta with 100% of the renewable energy generated from a new 600 MW solar facility in Texas to power the tech company’s data center operations. The new project, Clear Fork, will be a utility scale solar facility located near San Antonio. Enbridge…
Nature-based carbon removal startup Chestnut Carbon announced that it has secured a new $210 million project finance credit facility, led by J.P. Morgan and backed by a massive forest-focused carbon removal offtake agreement recently signed with tech giant Microsoft. The agreement marks the first financing of its kind for a U.S. voluntary carbon removal afforestation project, with Chestnut, Microsoft and…
Overshoot Day: innovation and engagement essential for a sustainable future Earth Overshoot Day marks the date when humanity’s demand for natural resources exceeds what can be regenerated. This year it will arrive on 24 July – eight days earlier than last year, showing the escalation in usage of resources. Here, four sustainable investment experts explore how we can help push this…
The Science Based Targets initiative (SBTi) has release its Financial Institutions Net-Zero Standard providing guidance for asset managers, asset owners, private equity firms and banks on how to align with activities with limiting global warming and achieving net zero by 2050 at the latest. Initially announced in 2022, the standards support financial institutions in setting targets that build clear routes…