“Tangible progress” has been made to increase efficiencies and bolster sustainability within pension buy-out and buy-in transactions since the launch of the Sustainability Principles Charter last year, according to Accounting for Sustainability (A4S). Signatories are now set to adopt the Bulk Annuity Sustainability Survey (BASS), which could replace multiple ones used by different advisers to assess insurers’ sustainability credentials for…
IONATE Raises $17 Million to Help Grids Meet Decarbonization and AI Needs
IONATE, a startup that makes smart electric transformers and software for electric grids, announced that it has raised $17 million in a Series A round, with proceeds to be used to fuel growth across key markets, launch its US operations, and advance its technology. London-based IONATE, founded in 2019, provides a “hardware-software backbone for smart grids,” helping address the strain…
Resale Tech Platform Archive Raises $30 Million to Reduce Environmental Impact of Retail
Cirularity tech startup Archive announced that it has raised $30 million in a Series B funding round, with proceeds aimed at advancing its platform that helps brands resell their merchandise. Established in 2021 with a mission to reduce the environmental impact of retail and keep products in use for as long as possible, California-based Archive works with brands on developing…
LEGO Group Plans to Increase its Use of Solar Energy by More than 70% in 2025
The LEGO Group announced plans to scale up its use of renewable energy, with an anticipated increase of 72% in solar capacity globally this year. According to LEGO, the company’s solar expansion forms a key initiative towards the company’s climate goals, which include achieving net zero greenhouse gas (GHG) emissions by 2050, and an interim target to reduce emissions by…
DHL to Purchase 375 Million Liters of SAF from Neste per Year by 2030
Logistics giant DHL Group announced an expanded collaboration with renewable fuels producer Neste, including plans to offtake around 300,000 tons – roughly 375 million liters – of unblended sustainable aviation fuel (SAF) per year, and to explore the use of renewable diesel in DHL’s road transport. According to DHL, the collaboration aims to leverage Neste’s renewable fuels to decarbonize DHL’s…
IKEA Expands Program to Support Suppliers’ Switch to 100% Renewable Energy
IKEA announced a significant expansion of its renewable electricity programme, adding 14 new countries – including the U.S. – to the initiative, aimed at addressing supply chain emissions and working towards 100% renewable energy across its value chain. Addressing greenhouse gas (GHG) emissions from production forms a significant part of IKEA’s commitment to become climate positive – reducing more emissions…
EU Platform on Sustainable Finance Releases Proposals to Reduce EU Taxonomy Reporting Burden by a Third
The Platform on Sustainable Finance (PSF), an expert group mandated by the European Commission to advise it on the development of sustainable finance policies, announced today the publication of a new report with comprehensive recommendations aimed at simplifying the EU Taxonomy. The recommendations come amidst a major push by the EU Commission to reduce administrative and reporting burdens on companies,…