Investment giant BlackRock’s infrastructure investment unit Global Infrastructure Partners (GIP) announced that it has acquired a 49.99% co-control stake in Italian energy company Eni’s Eni’s Carbon Capture, Utilization and Storage (CCUS) business, Eni CCUS Holding. The agreement follows an announcement by Eni in May that it had entered exclusive negotiations with GIP for the transaction following a selection process involving several…

Initiatives underway to reduce European sustainability reporting and due diligence reporting requirements could limit the European Central Bank’s capability to manage climate risk in the financial system, according to a letter sent by ECB President Christine Lagarde to European Parliament lawmakers. The letter comes as lawmakers prepare to debate the European Commission’s Omnibus I package, aimed at significantly reducing the…

Finance for Biodiversity Foundation says investor pressure will continue on governments and companies following breakdown of negotiations on legally-binding instrument.  Investors called for governments and companies to take action individually to reduce plastic pollution after global talks convened by the UN failed to reach agreement in Geneva.  Negotiations were adjourned on 15 August when it became clear that the 184…

California’s new laws laws requiring large companies to disclose their value chain greenhouse gas emissions and report on climate-related risks survived another court challenge, with a U.S. District Judge denying a motion to block enforcement of the laws on First Amendment free speech grounds. The motion marked the latest move by the U.S. Chamber of Commerce, alongside other business groups,…

This week in ESG news: Danske Bank divests over 85% of oil and gas companies over transition plans; less than 40% of employees say companies are doing enough on climate change; Republican states warn SBTi, financial firms over setting net zero goals; Watershed and Stanford take over supply chain emissions database dropped by U.S.’ EPA; Amazon’s AWS signs renewable energy…

Supply chain sustainability management solutions provider Assent announced the launch of its new EU Deforestation Regulation (EUDR) solution, aimed at enabling manufacturers to comply with the due diligence requirements of the EU’s new law ensuring that products no longer contribute to deforestation and forest degradation globally. The EUDR was initially introduced by the EU Commission in November 2021, with measures aimed…

The sustainability-linked loan (SLL) market has made progress towards addressing some of its key integrity and credibility issues, according to a new review by UK financial services regulator the Financial Conduct Authority (FCA), marking “important steps in the development of a credible transition finance ecosystem,” according to the regulator. The observations by the FCA follow a 2023 review of the…

Singapore-based food tech start-up Prefer announced that it has raised $4.2 million in a Pre-Series A funding round, and has commercially launched its new soluble coffee and cocoa powders, aimed at replicating coffee and cocoa at a fraction of the carbon footprint and at lower cost. Founded in 2022 by Jake Berber and Ding Jie Tan, Prefer provides climate-resilient alternatives…

A group of 23 U.S. State Attorneys General*, led by Iowa AG Brenna Bird, published a letter sent to the Science Based Targets initiative (SBTi), demanding information about the organization and its members, citing concerns about potential violations of antitrust, consumer protection and other laws from participation in the net zero group. The AGs’ letter included a particular focus on…