This update covers information regarding the California Air Resources Board (CARB) rulemaking delay for California’s climate disclosure laws, SB 253 and SB 261, as well as additional new litigation challenging the constitutionality of these laws. The bottom line for companies is that despite the rulemaking delays and ongoing litigation, the laws remain valid and in effect, with disclosure deadlines unchanged….
Fidelity International Launches New Paris-Aligned Active Equity ETF
Investment management firm Fidelity International announced the launch of the Fidelity Global Equity Research Enhanced PAB UCITS ETF, a new fund aimed at investing in global equities to achieve income and capital growth, while aligning with the climate goals of the Paris Agreement by restricting the carbon emissions exposure of its portfolio. The new fund forms part of Fidelity’s Research…
Apple Invests in 650 MW of New Renewables Projects to Address Carbon Footprint of Product Use
Apple announced a series of new clean energy agreements in Europe, adding 650 MW of solar and wind capacity to electric grids in Europe, as part of the company’s efforts to match the electricity used by its customers to power Apple products with renewable energy. Emissions from product use accounts for 29% of Apple’s carbon footprint, according to the company’s…
Bloomberg Launches Tools to Help Investors Assess Exposure to Low Carbon Transition Risks and Opportunities
Business and financial markets information service provider Bloomberg announced the launch of a series of new tools aimed at enabling investors to assess company and portfolio exposure to low carbon transition risks and opportunities. According to Bloomberg, the new tools come as investors are increasingly looking to assess how business models and investment returns are being impacted by major shifts…
ISSB Says “Passporting Provisions” Needed for Acceptance of Sustainability Reporting Across Jurisdictions
The IFRS Foundation’s International Sustainability Standards Board (ISSB) announced a series of moves today aimed at guiding jurisdictions in the adoption of the ISSB’s sustainability reporting standards, and in enabling the standards to “serve as a global passport,” for acceptance of standards-aligned reports across jurisdictions. The ISSB was launched in November 2021 at the COP26 climate conference, with the goal to develop IFRS…
Net Zero Asset Managers Coalition Returns – Without 2050 Climate Commitment
The Net Zero Asset Managers (NZAM) initiative, a major multi-trillion dollar group of investment managers committed to supporting the goal of net zero greenhouse gas emissions, announced that it will resume operations after pausing in early 2025 to adapt to a rapidly changing political and regulatory environment which had caused some of its largest signatories to exit the coalition. While…
Guest Post: Preparing for a New Era of Reporting with Integrated Sustainability
By: Anna-Stina Reuter, Principal Sustainability Consultant at Sphera Over the past few years, discussions surrounding sustainability reporting standards have evolved significantly. In the coming months alone, the threshold for the Corporate Sustainability Reporting Directive (CSRD) is set to be lowered, the simplified set of the European Sustainability Reporting Standards (ESRS) will be published, and the reporting deadline under California’s Climate…
H&M Signs Multi-Year Deal to Integrate Recycled Cotton in Products with Recover
Materials science company Recover announced that it has entered a multi-year agreement with fashion and design brands company H&M to supply its recycled cotton fiber, RCotton, for use across the latter’s product ranges. Madrid-based Recover turns textile waste from post-industrial and pre- and post-consumer origins into high-quality recycled cotton fiber and fiber blends, including its 100% pure and unblended recycled…
Microsoft Signs Deal to Use Mining Waste to Remove Nearly 300,000 Tons of CO2
Industrial mineralization company Arca announced that it has signed a new 10-year agreement with Microsoft to permanently remove nearly 300,000 tonnes of CO2 from the atmosphere by using mining waste to transform it into rock. Founded in 2021, British Columbia-based Arca provides technology to accelerate the natural process of carbon mineralization in alkaline industrial waste, removing CO2 from the air,…