Avoiding Scope 3 pitfalls, nature risk exposure, and poor ESG due diligence
Google Signs Largest-Ever Corporate Fusion Energy Purchase Deal
Google announced that it has signed the largest-ever direct corporate offtake agreement for fusion energy with Commonwealth Fusion Systems (CFS), as well as an investment in CFS, aimed at supporting the CFS’ efforts to bring fusion power to the grid at scale, and the development of its first commercial plant. Fusion, the process of combining two atoms to form a…
EU Regulators Propose Integrating ESG Risks into Stress Tests for Banks, Insurers
Europe’s three primary financial regulatory agencies, the European Supervisory Authorities (ESAs) announced the publication of new draft Joint Guidelines on ESG stress testing, setting out how banking and insurance sector authorities in the EU should integrate ESG risks into their supervisory stress tests, and aimed at harmonizing methodologies and practices among banking and insurance supervisors. The ESAs include The European…
Companies, Investors Campaign to Keep Meaningful EU Sustainability Reporting and Due Diligence Requirements
A coalition of 198 organizations, including more than 150 companies and investors, as well as dozens of service providers and sustainability-focused groups announced today the release of a joint statement, calling on European policymakers to preserve key elements of the EU’s sustainability framework, including calling to keep a greater number of companies in the scope of the CSRD sustainability reporting…
Eni, Azimut Launch €100 Million Clean Energy Tech Venture Fund
Italian energy company major Eni’s venture capital unit Eni Next announced a new strategic partnership with asset manager Azimut to accelerate the development of cutting-edge energy technologies, with the planned launch of a new venture investment fund, with a fundraising target of €100 million (USD$118 million). Set to be launched in September 2025, the European Long Term Investment Fund (ELTIF)…
Microsoft Signs Deal to Remove 1.1 Million Tons of CO2 Through Waste-to-Energy Carbon Capture
Oslo-based power and heat provider Hafslund Celsio announced today a new carbon removal offtake agreement with Microsoft, with the tech giant purchasing more than 1 million tons of carbon credits over ten years, to be generated by a new carbon capture project at Norway’s largest waste-to-energy plant. Hafslund Celsio operates the Klemetsrud waste-to-energy facility in Oslo which incinerates around 350,000…
Norway Sets Goal to Reduce GHG Emissions by 70% – 75% by 2035
The government of Norway announced a new climate target, aiming to reduce absolute economy-wide emissions by at least 70% to 75%, on a 2019 basis, by 2035. The new decarbonization goal will form Norway’s new Nationally Determined Contribution (NDC) under the Paris Agreement. NDCs are national climate action plans presented by each country under the agreement, and are required to…
EU Commission Clarifies Anti-Greenwashing Law Has Not Been Withdrawn
The Green Claims Directive, a new proposed regulation aimed at protecting consumers from greenwashing claims about the environmental attributes of products and services, has not been withdrawn by the European Commission, according to a statement provided by a Commission spokesperson to ESG Today. The clarification followed an earlier statement from the Commission just prior to scheduled trilogue negotiations, which were…
British Airways to Reduce Emissions by 400,000 Tonnes Through New SAF Purchase Deal
Biofuels producer EcoCeres announced today a new multi-year sustainable aviation fuel (SAF) transaction with British Airways, supplying the airline with SAF produced from waste-based biomass feedstock to help meet its sustainability goals. According to EcoCeres, the new agreement will enable British Airways to reduce fuel lifecycle carbon emissions by approximately 400,000 metric tonnes compared with conventional jet fuel, equivalent to…