Industry-led solutions rather than forced consolidation will give UK pensions greater climate clout, says Trustee Sustainability Working Group Chair Bobby Riddaway. Last year, the British government floated the idea of consolidating the country’s defined contribution (DC) pension fund market. Rachel Reeves used her first annual address as Chancellor of the Exchequer to explain how this could help ease administrative overheads…
Nasdaq-backed Carbon Credit Platform Puro.earth Passes 1 Million Tonne Carbon Removal Milestone
Carbon-crediting platform Puro.earth announced that it has achieved the issuance of more than 1 million CO2 removal certificates – representing more than 1 million tonnes of verified carbon removal – following a significant acceleration in the market over the past several months. Founded in 2018, and acquired by Nasdaq in 2021, Puro.earth provides a platform bringing together suppliers of carbon…
Apave Acquires Carbon Accounting Platform Aktio
Risk management services provider Apave Group announced the acquisition of French carbon accounting firm Aktio, in a move aimed at helping Apave to strengthen its expertise in sustainability and decarbonization. Founded in 2020, Paris-based Aktio provides climate consulting services and greenhouse gas accounting and management software solutions aimed at supporting companies in their low-carbon transition. The company’s platform supports companies…
Nordea Awarded €800 Million Decarbonization-Focused Equity Mandate by Ircantec
Northern Europe-based asset manager Nordea Asset Management announced that it has been selected to help manage a €800 million (USD$867 million) decarbonization-focused global equity investment mandate for French pension plan Iracantec, in partnership with Paris-based asset management firm ODDO BHF AM. Ircantec is a French complementary pension scheme with more than €17 billion (USD $18.4 billion) invested in the financial…
CDP, EFRAG Release Mapping Connecting CDP Disclosures with CSRD Climate Reporting Standards
Climate research provider and environmental disclosure platform CDP and the European Financial Reporting Advisory Group (EFRAG) announced the release of correspondence mapping between the CDP question bank and the EU’s climate standard, ESRS E1, aimed at reducing the reporting burden on companies disclosing under both the CDP platform and the EU’s CSRD regulation. CDP runs a global environmental disclosure system,…
EU Launches Series of Actions and Investments to Decarbonize Steel, Metal Sectors
The European Commission announced the launch of its Action Plan on Steel and Metals, outlining a broad range of initiatives aimed at protecting and strengthening the industry’s competitiveness, and supporting its decarbonization. According to the Commission, the new Action Plan comes as the European steel and metals industry faces a series of challenges, including high energy costs, and unfair global…
Amazon Launches Carbon Credit Investment Service
Amazon announced the launch of a new service, providing access to high-quality carbon credit investments to companies in its value chain with net zero climate targets. According to Amazon, the new service aims to utilize its scale and resources to help companies to start investing and securing high-quality carbon credits, addressing issues adding complexity to the market, such as a…