This week in ESG news: Major cuts to sustainability reporting requirements proposed by EU’s Omnibus negotiator; Canada releases anti-greenwashing guidance for companies; IFRS says more jurisdictions moving towards using ISSB sustainability reporting standards; Amazon reports progress on sustainable water goals; Lululemon signs long-term deal for sustainable materials; India launches regulations for ESG bond issuers; Nestlé surpasses sustainable coffee goal; U.S….

More than €240 billion in investments will be needed through 2050 in order to deliver EU member states’ plans for nuclear energy and to reach energy decarbonization goals, according to a new estimate released by the European Commission. The new estimate was released with the Commission’s updated nuclear illustrative programme (PINC), an overview of nuclear development trends in the EU,…

Carbon management software provider Green Project Technologies announced the launch of act50, a new digital renewable energy marketplace and supplier engagement platform aimed at enabling companies to reduce and track Scope 3 supply chain emissions. Founded in 2021, Green Project Technologies provides a web-based platform, combining digital solutions for carbon accounting, supplier engagement, reporting and advisory services, to help enterprises…

Amazon and power producer Talen Energy announced a new long-term Purchase Power Agreement (PPA), with Talen supplying Amazon with 1.9 GW of energy from its Pennsylvania-based Susquehanna nuclear power plant to Amazon Web Services (AWS) data centers in the region. The agreement marks the latest in a series of nuclear deals by Amazon, as it moves beyond renewable energy to…

Parliament’s Omnibus rapporteur Jörgen Warborn of the European People’s Party (EPP), announced the publication of draft amendments to the European Commission’s proposed “Omnibus” initiative to reduce the sustainability reporting and due requirements, suggesting significantly deeper cuts in the number of companies covered and the reporting obligations of the regulations. The draft will form the basis of the EPP’s position in…

The IFRS Foundation revealed today that 36 jurisdictions have adopted or otherwise used the IFRS Sustainability Disclosure Standards (ISSB Standards), or are taking steps to introduce them into their regulatory frameworks, including 17 that have already finalized their approach to using the standards. The announcement marks continued progress towards the expansion of ISSB-based sustainability requirements over the past few months,…

Athletic apparel company lululemon athletica and Australian environmental technology startup Samsara Eco announced a new 10-year offtake agreement, providing recycled raw materials including nylon and polyester for use in Lululemon’s products. According to the companies, the new agreement could see Samsara Eco’s materials support approximately 20% of lululemon’s overall fibers portfolio. Launched in 2021, Samsara Eco uses enzymatic technology to…

From addressing global issues such as climate change and being a haven of biodiversity, to providing timber for construction, paper and packaging, forestry is an important natural global asset. According to the World Economic Forum, investing in forest conservation and restoration can benefit businesses as they become leading actors in the transition to a nature-positive, net-zero economy. Here, Paul McMahon,…

Environmental consultancy firm Reconomy has launched an initial investment of £1m into CircuLab, a sustainability research innovation hub in Bucharest, Romania, to advance its work in the circular economy. CircuLab will serve as an innovation hub for the company’s research into sustainability, environmental science, resource management and chemistry. It will focus on the development of new use cases, propositions and ways…

Andrew Parry, head of investments at JO Hambro Capital Management (JOHCM) and Regnan, has announced his retirement after over 40 years in the investment industry.  Parry took a step back from work at the end of last year due to ill health, and said treatment has been successful. However, he has decided to retire from full-time work and “embrace a…