Zurich-based insurance and reinsurance company Swiss Re announced that it will no longer pursues Science Based Targets initiative (SBTi) validation for its climate targets, although the firm stated that its sustainability strategy remains unchanged – including its goal to reach net zero greenhouse gas (GHG) emissions by 2050. Swiss Re initially set a commitment to the SBTi in 2019 to…

A new collation of 14 venture capital and growth equity investment firms announced the launch of a new collaborative fund to back clean energy and decarbonization technology companies, aimed at enabling them to reach commercial scale. According to the group – the “All Aboard Coalition” – the new initiative is designed to help clean tech companies to avoid the “valley…

By Frédéric Godemel, EVP of Energy Management at Schneider Electric When you want to improve your diet, you don’t just rely on promotional packaging on food, you check the nutritional information. The real insights lie in the details: the facts and figures that tell you what you’re really consuming. The same principle should apply to sustainability. As the climate crisis…

This week in ESG news: Netflix signs 15-year forest-based carbon credit deal; Deutsche Bank retains net zero goals in new transition plan; BlackRock loses $17 billion mandate as pension fund shifts to sustainability-focused policy; ESG data M&A picks up pace with acquisitions by Position Green, One Click LCA; SBTi launches net zero standard for Power sector; Sony unveils new climate…

Australian battery energy storage systems (BESS) developer and operator Akaysha Energy announced that it has secured a A$300 million (USD$197 million) corporate debt facility. According to Akaysha Energy, the new facility will fund the development and construction of its BESS project pipeline across Australia, the U.S., Japan and Germany. Energy storage forms one of the key building blocks for the…

UK materials innovation company Xampla announced that it has raised US$14 million in a Series A investment round, with proceeds aimed at scaling its technology to replace billions of single-use plastic items with plant-based alternatives. Because plastic does not biodegrade completely in the environment, but rather breaks down into smaller fragments and pieces, single-use plastic products can accumulate and pollute…

The California Air Resources Board (CARB) announced the release of a new publication, offering clarifications and guidance for companies preparing to provide their first reports under a new regulation requiring companies to provide disclosures on climate-related risks and opportunities. The new publication, Climate Related Financial Risk Disclosures: Draft Checklist, focuses on the reporting requirements under SB 261, the “Climate-Related Financial…

The American Forest Foundation (AFF) announced that it has signed a 15-year contract with Netflix, with the entertainment giant committing to purchase verified carbon credits produced through AFF’s Afforestation, Reforestation, and Revegetation (ARR) carbon project, aimed at transitioning underused fields in the U.S. South into forests. Chartered in 1981, the American Forest Foundation is a national conservation organization, working with…

Carbon-crediting platform Puro.earth announced that it has raised €11 million (USD$12.8 million) in a Series B funding round, with proceeds aimed at strengthening its carbon removal supplier certification infrastructure. Founded in 2018, Puro.earth provides a platform bringing together suppliers of carbon net-negative technologies and companies looking to reduce or counter their carbon footprints. Through Puro.earth’s platform, and based on its…

Sustainability software and advisory company Position Green announced today the acquisition of ESG reporting and compliance solutions provider Greenomy, in a move described by Position Green as “consolidating Europe’s fragmented sustainability tech market.” The transaction follows Position Green’s acquisition in August of carbon management software provider Morescope. According to Position Green, the company is building a comprehensive ESG platform aimed…