The UK government announced today that it has decided not to proceed with its plans to develop and implement a UK Green Taxonomy, its proposed classification system for categorizing climate and environmentally sustainable economic activities, and one of the key parts of its sustainable finance framework. According to a statement released by the UK finance ministry, HM Treasury, the move to…

HSBChas officially withdrawn from theUnited Nations(UN)-backedNet-Zero Banking Alliance (NZBA), becoming the first major UK bank to do so.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…

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…

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…

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 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…