Scottish Widows outlines portfolio impacts and dependencies in new report, encouraging peers to enhance engagement efforts. UK-based life insurance and pensions company Scottish Widows has urged peers to assess their nature impacts and dependencies by detailing its own in a new report, with a number of other institutional investors also highlighting their exposures. Scottish Widows said it was “crucial” for…
GenZero, Trafigura Invest Over $100 Million in Nature Restoration Carbon Removal Project in Colombia
Temasek-owned decarbonization solutions-focused investment platform GenZero and global commodities trading company Trafigura announced today a commitment to invest more than $100 million in Brújula Verde, a nature-based project in Colombia anticipated to produce high-integrity carbon removal credits, by restoring land degraded by intensive agricultural activities and fires. Located in Orinoco River Basin, the Brújula Verde project is the largest nature-based carbon…
EIP Raises Investment in Eni’s Renewables, Power and EV Charging Business Plenitude to $850 Million
Zurich-based energy transition-focused investor Energy Infrastructure Partners (EIP) announced today an agreement with Italian energy company Eni to increase its investment in Eni’s renewables, retail and EV charging company Plenitude, with an additional capital injection of €209 million (USD$222 million). Following the new investment, EIP will hold a 10% stake in Plenitude, following its initial €588 million investment in the…
Brazil Cuts Amazon Deforestation by 31%, Sets New 2035 Climate Goals
The government of Brazil announced today a new climate goal, targeting a 59% – 67% reduction in economy-wide greenhouse gas (GHG) emissions by 2035, on a 2005 basis, and highlighted key progress in the fight against deforestation, which it said has decreased by nearly a third over the past year. The new decarbonization goal, to be officially presented at the…
SEC Fines Invesco $17.5 Million for Misleading ESG Investing Claims
The U.S. Securities and Exchange Commission (SEC) announced that it has charged global asset manager Invesco for making misleading claims regarding its ESG-related investments, including overstating the proportion of assets under management that integrated ESG considerations. Invesco has agreed to pay a $17.5 million civil penalty to settle the SEC’s charges, while not admitting or denying the Commission’s allegations. According…
Companies Rapidly Setting Operational Net Zero Targets, While Value Chain Emissions Goals Stall: Accenture
The world’s largest companies are increasingly setting goals to achieve net zero emissions in their own operations, and are ramping their use of a wide range of levers to hit their climate goals, while additions to emissions reduction goals encompassing the business’ wider value chains has stalled over the past year, according to a new study released by global professional…
ESG Today: Week in Review
This week in ESG news: Canada to require oil & gas industry to slash emissions; California’s climate reporting law survives legal challenge; Mizuho invests in climate solutions provider Pollination; new clean energy deals signed by H&M, Meta, Saint-Gobain; incoming EU finance Commissioner calls for sustainable investment labels, reduced SFDR reporting burden; UAE to invest $54 billion in clean energy transition;…
Archer Lands up to $500 Million Purchase Deal for Electric Aircraft in Japan
Aviation electrification company Archer announced a new agreement with Japan Airlines (JAL) and Sumitomo Corporation air mobility-focused joint venture Soracle, including an intended purchase of up to 100 electric aircraft for approximately $500 million. The agreement follows the launch earlier this year by JAL and Sumitomo of Soracle, aimed at establishing an electric vertical take-off and landing aircraft (eVTOL) company…