Companies globally are only incrementally improving the quality of their climate-related disclosures, with only around a third referencing climate-related financial impact on their financial statements, and nearly sixty percent not yet disclosing transition plans, according to a new study released by global professional services firm EY. The study also found that to date, most companies’ climate action strategies are focused…
Auditing, quality control, and assurance standard-setting body the International Auditing and Assurance Standards Board (IAASB) announced the publication of its finalized International Standard on Sustainability Assurance 5000 (ISSA 5000), aimed at establishing a new standard for practitioners in carrying out sustainability assurance engagements. The new standard comes as companies are increasingly reporting on sustainability and climate-related risks, opportunities and impacts…
California-based General Galactic, which is developing methods to generate fossil-free energy, announced that it has raised $8 million in seed funding, bringing total investment in the company to $10 million. Founded in 2023 by former SpaceX and Varda Space Industries engineers Halen Mattison and Luke Neise, General Galactic is developing a modular hardware platform that captures CO2 and converts it…
Energy transition-focused investment firm Denham Capital announced today the appointment of Justin DeAngelis as Global Head of Sustainable Infrastructure. In his new role, DeAngelis will assume full responsibility for the department’s strategic leadership and execution, the firm said. DeAngelis joined Denham in 2006, and has most recently been serving as Partner and Co-Head of Denham Sustainable Infrastructure (DSI) alongside Scott…
Delegates at the ongoing UN Climate Change Conference (COP29) achieved an important breakthrough on the first day of the event in Baku, Azerbaijan, reaching consensus on standards for the creation of carbon credits under Article 6.4 of the Paris Agreement, key for advancing the establishment and growth of a global carbon market. The consensus will help develop and approve methodologies…
Recently elected Prime Minister Keir Starmer unveiled a new climate target today, committing to cut UK greenhouse gas (GHG) emissions by 81% by 2035, on a 1990 basis. The new target, announced at the COP29 climate conference in Baku, Azerbaijan, raises the UK’s climate ambition from the 78% target set under Prime Minister Boris Johnson in 2021. The new decarbonization…
Climate research provider and environmental disclosure platform CDP and the European Financial Reporting Advisory Group (EFRAG) announced today that they have achieved a high degree of commonality and interoperability between CDP’s disclosure platform and the EU’s recently adopted European Sustainability Reporting Standards (ESRS). The organizations added that they will continue to work together to further align the CDP system and…
A Dutch appeals court issued a ruling in Shell’s favor, reversing a landmark 2021 ruling holding the company responsible for greenhouse gas (GHG) emissions resulting from its customers’ use of its products, and ordering the company to dramatically reduce emissions by the end of the decade. In a statement following the ruling, Friends of the Earth Netherlands (Milieudefensie), who launched the case…