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…
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”…
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 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…
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’…