Northern Europe-based asset manager Nordea Asset Management (NAM) announced that it has added or kept the term “sustainable” in the names of 17 funds in its Nordea 1 SICAV range ahead of the implementation of new fund naming guidelines by EU markets regulator the European Securities and Markets Authority (ESMA). The announcement follows the release in May 2024 by ESMA…
Corporate, markets, and financial services regulator the Australian Securities & Investments Commission (ASIC) announced the release of “Regulatory Guide 280 (RG 280),” its new regulatory guide for companies required to prepare a sustainability report containing climate-related financial information under Australia’s new mandatory climate reporting law. The guide includes details on ASIC’s planned “pragmatic and proportionate approach” to supervision and enforcement…
Norges Bank Investment Management (NBIM), the investment manager for Norway’s $1.8 trillion oil fund announced today that it has acquired a 49% stake in two offshore wind construction projects located in Denmark and Germany from German power producer RWE for approximately €1.4 billion (USD$1.5 billion). NBIM said that it expects that its share in constructing the wind farms will be…
This week in ESG news: EU Council approves delay of sustainability reporting regulations; ING becomes first major bank with approved science-based financed emissions targets; PwC study finds vast majority of companies are keeping – or raising – climate goals; SEC walks away from climate reporting requirements; Airbus commits to build hydrogen-powered planes; ISSB launches new tool to help regulators adopt…
Esgaia acquisition looks to deepen data expertise as investors seek greater voting and engagement support. Proxy voting services provider Glass Lewis intends to heighten its focus on stewardship, evolving its offering in Europe to meet escalating client demand for engagement and voting support. Earlier this month, Glass Lewis acquired technology platform Esgaia, which focuses on institutional-level investment stewardship data and…
Sustainability management software provider Persefoni announced today that it has raised $23 million in a Series C funding round, as the company plans to expand its product offerings and solutions. Founded in 2020, Persefoni offers software and AI-driven tools aimed at enabling companies and financial institutions to manage their carbon footprint and sustainability reporting, with capabilities including streamlined carbon footprint…
Energy giants TotalEnergies, Equinor and Shell announced plans to invest NOK 7.5 billion (USD$714 million) to expand the Northern Lights carbon transportation and storage project in Norway, more than tripling the projects capacity from 1.5 million to more than 5 million tons of CO2 per year from 2028. The Northern Lights project, a joint venture between the companies, was launched…
The U.S. Securities and Exchange Commission (SEC) announced today that it has voted to end its legal defense of its climate disclosure rules, effectively walking away from its regulation requiring companies to report on climate risks and greenhouse gas emissions, without actually having to rescind the rules. In a statement announcing the Commission’s decision, SEC Acting Chairman Mark Uyeda, who…