Sustainability has become a defining business issue of our time.
Lululemon Appoints Former Nike CSO as New Sustainability Head
Athletic apparel company lululemon announced the appointment of former Nike Chief Sustainability Officer Noel Kinder to lead the company’s sustainability team as Senior Vice President of Sustainability. Kinder joins lululemon after spending 25 years at Nike, most recently serving as Chief Sustainability Officer until 2024, driving the creation and operationalization of Nike’s global sustainability strategy, including the development of enterprise-wide…
Drax declines to raise HEIT bid
The Harmony Energy Income trust (HEIT) board has recommended Foresight Group LLP’s takeover offer to its shareholders after Drax announced it would not increase its bid. Drax, the power generation business, made an 88p per share offer to acquire the trust in March after Foresight’s original 84p per share offer. However, yesterday (20 May) they announced they would not increase the…
Carlyle Launches New Clean Energy Infrastructure Development Platform
Global private capital investment firm Carlyle announced the launch of Revera Energy, a new platform that will invest in and develop sustainable and clean energy infrastructure solutions in Australia and the UK. Revera will develop, build, own, and operate energy infrastructure projects involving battery storage, renewable power, and green hydrogen. The projects will include those in Carlyle’s current portfolio, comprised…
EU Awards Over $1 Billion to Renewable Hydrogen Production Projects
The European Commission announced that it has selected 15 projects across the European Economic Area (EEA) to receive €992 million (USD$1.1 billion) in funding to produce renewable hydrogen, a key element of efforts to decarbonize heavy industry and transport. According to the Commission, the projects, located across Germany, Spain, Finland, Norway and the Netherlands, are expected to produce nearly 2.2…
JPMorgan Signs Large-Scale Carbon Removal Deal for Under $200 per Ton
JPMorganChase and carbon dioxide removal (CDR) project developer CO280 announced a new large-scale, long-term CDR purchase agreement, with JPMorgan agreeing to offtake 450,000 tons of carbon removal over 13 years from a project that will capture and permanently store biogenic carbon emissions from a pulp and paper mill in the U.S. Gulf Coast. At a price of under $200 per…
ESMA fund naming guidelines impact ‘more limited than expected’
The number of EU open-end funds and ETFs with ESG-related terms in their names has dropped by only 8% to an estimated 4,220, one year after the release of the final European Securities and Markets Authority (ESMA) fund naming guidelines, according to Morningstar’s latest research. In May 2024, ESMA issued its final guidelines for funds marketed in the European Union that…