GFANZ guidance expected to expand transition-informed indexes, while EU’s Platform on Sustainable Finance deepens scope of transition focus. Proposed climate transition-oriented index investment guidance for the EU and beyond is expected to better incentivise passive capital flows supporting companies’ journeys to net zero. This is according to experts reflecting on the EU Platform on Sustainable Finance’s (PSF) proposal for two…
Court Ruling Halts UK Approval of Major Shell, Equinor Oil and Gas Projects Over Lack of Climate Considerations
A Scottish court ruling quashed approvals by the UK’s Oil and Gas Authority (OGA) for major oil and gas projects in the North Sea by Shell and Equinor, over the government’s failure to account for the climate impact of the use of fuels produced from the projects. While the ruling, provided by Lord Ericht, allowed work on the projects to…
ESG Today: Week in Review
This week in ESG news: EU pledges to simplify sustainability reporting laws; 10-state coalition warns major Wall Street firms over ESG policies; Moody’s predicts $1 trillion sustainable bond market despite political headwinds; Microsoft signs nature-based carbon removal megadeal; Switzerland targets 65% GHG emissions reduction by 2035; first-ever green bond issued under new EuGB ‘gold standard’; BlackRock launches first-ever “Sustainability Improvers”…
8 Practical Ways Oil and Gas Companies Can Align Investments with Sustainability Goals
The energy transition is underway, and oil and gas companies are under increasing pressure to align their investment strategies with sustainability goals. From regulatory frameworks to stakeholder expectations, the impetus to integrate sustainability considerations into decision-making has never been greater. But how can companies practically align their investments with these objectives while maintaining profitability?
Microsoft Inks 7 Million Ton Nature-Based Carbon Removal Megadeal
Microsoft and nature-based carbon removal startup Chestnut Carbon announced today a new 25-year offtake agreement, with Chestnut providing Microsoft with more than 7 million tons of nature-based carbon removal credits, generated from its forest projects in the Southern U.S. The deal marks the largest-ever voluntary corporate investment in conservation forestry in the U.S., according to Chestnut Carbon, restoring approximately 60,000…
IFRS Publishes Guidance for Companies Taking a Climate-First Approach to Sustainability Reporting
The IFRS Foundation announced the publication of a new guide, aimed at supporting companies beginning to apply the ISSB standards for sustainability reporting with their initial disclosures focused only on climate-related information. The IFRS Foundation’s International Sustainability Standards Board (ISSB) was launched in November 2021, with the goal to develop IFRS Sustainability Disclosure Standards to provide investors with information about companies’…