The UK government has confirmed its decision to drop the UK green taxonomy following consultation with the investment industry.  Emma Reynolds, economic secretary to the Treasury and City minister, said in a note on the outcome of the consultation: “After careful consideration, the government has concluded that a UK taxonomy would not be the most effective tool to deliver the…

Food and beverage giant PepsiCo and multinational food, ingredients and agriculture company Cargill announced the launch of a new strategic collaboration to advance regenerative agriculture practices across their shared corn supply chain in Iowa. Regenerative agriculture practices are aimed at addressing the environmental impact of the sector, and include techniques to improve and restore ecosystems, build soil health and fertility,…

PA Future speaks to Michael Horvath, sustainable finance and sustainability leader at PwC Luxembourg, about the European Commission’s Omnibus changes to the Corporate Sustainable Reporting Directive (CSRD), and how the delays will provide short-term relief but those getting ready now will be the leaders of the future. What are the proposed changes to CSRD? Which organisations does this impact? The…

The sustainability and impact team at Octopus has left to set up its own sustainability integration business for asset managers.  Jack Cracknell (pictured left) and Lucy Ronan (pictured right), ran the impact and sustainability team for over five years across the Octopus group of companies, including Octopus Investments, Octopus Ventures and Octopus Capital. They have now set up Groundswell to…

Sustainable asset manager Osmosis Investment Management has introduced its first fixed income funds.  The Osmosis Global Credit UCITS fund and the Osmosis Global High Yield UCITS fund were launched on 2 July with €300m seed money from the Commonwealth Superannuation Corporation (CSC) of Australia. They will be run by the team in the Osmosis’ newly established Netherlands office with Peter Kwaak as the lead portfolio…

When the outgoing chair of Aberdeen Group, Sir Douglas Flint, said financiers had made a “huge mistake” by claiming they could “save the world”, it made headlines.   The ex-HSBC chair’s speech was quoted in the national press after he addressed a City of London conference at the end of last month. He told his audience fund managers had come to…

Brookfield Asset Management and its clean energy platform Brookfield Renewable announced today the launch of a new Hydro Framework Agreement (HFA) with Google, for the delivery of up to 3,000 MW of carbon-free hydroelectric capacity to power Google’s operations across the U.S. The deal marks the largest-ever corporate clean power deal for hydroelectricity. Under the new agreement, Google will have the…

Environmental Health & Safety (EHS) and sustainability platform provider Benchmark Gensuite announced the launch of its new Sustainability and Climate Risk Management Solution, a new software solution aimed at enabling companies to identify, quantify, and mitigate climate-related risks across global operations and supply chains. The new solution was launched in partnership with GIST Impact, a provider of data and analytics…

International express service provider DHL Express, and renewable fuels producer Neste announced today a new agreement for the supply of 7,400 metric tons (9.5 million liters) of sustainable aviation fuel (SAF) to be delivered over the next year to power DHL’s international cargo flights from Singapore. The deal marks one of the largest SAF agreements for the air cargo industry…

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…