Investors urged to engage on the issue, with regulation and taxation required for sustainable solutions likely required to address risk. Planet Tracker has warned consumers and policymakers that they are being misled on recycling in the plastics industry, with the majority of it currently not being recycled, despite misleading claims. Worth more than US$500 billion, the plastics industry has promoted…

CarbonChain Launches Commodities Supply Chain Emissions Reporting Solution
Climate accounting software provider CarbonChain announced today the launch of CarbonChain Comply, a new carbon reporting solution for businesses within metals and energy supply chains. According to CarbonChain, the new solution aims to address the growing regulatory requirements and stakeholder demands for transparent and accurate disclosure in the commodities supply chain, offering a “one-stop shop for carbon reporting.” Founded in…
CONSULTATION ON UK CARBON BORDER ADJUSTMENT MECHANISM (“CBAM”)
The UK Government launched a Consultation on the introduction of a UK CBAM on 21 March 2024. The Consultation closes on 13 June 2024. This follows the announcement, in December 2023, that the UK would implement a UK CBAM similar to the EU CBAM which came into effect on 1 October 2023. In this update, we summarise the key design…

SSAB’s New $5 Billion in Fossil-Free Steel Mill to Eliminate 7% of Sweden’s CO2 Emissions
Sweden-based global steel company SSAB announced a decision to build a fossil-free mini-mill in Luleå, Sweden, capable of producing 2.5 million tonnes of carbon emission-free steel annually. Total investment in the new mill is estimated at €4.5 billion (USD$4.9 billion), and the project is expected to reduce Sweden’s CO2 emissions by 7%. Steelmaking is one of the biggest emitters of…

Hydrogen Mobility Startup HysetCo Raises Over $200 Million
Hydrogen mobility startup HysetCo announced that it has raised nearly €200 million (USD$217 million) in a new financing round led by hydrogen-focused investor Hy24, with proceeds from the financing to be used to the company’s solutions aimed at decarbonizing urban transport. Founded in 2015, France-based HysetCo offers solutions to support hydrogen mobility, including the development of hydrogen refueling stations, an…

EY Appoints Chase Jordan as Global Private Equity ESG Leader
Professional services firm EY announced the appointment of Chase Jordan as EY Global Private Equity ESG Leader. In his new role, Jordan will work with PE firms to help drive ESG-focused transformations within portfolio companies, and aiming for stronger ESG narratives upon exits. Jordan will be responsible for collaborating across fund lifecycles and embedding sustainability into both fund-level strategy and portfolio…

SBTi to Allow Increased Role for Carbon Credits in Net Zero Targets
The Science Based Targets initiative (SBTi), one of the key organizations focused on aligning corporate environmental sustainability action with the global goals of limiting climate change, announced plans to extend the use of environmental attribute certificates, such as emissions reduction credits, to tackle Scope 3 value chain emissions, in its standard for corporate net zero target setting. The SBTi was…

ESMA publishes Consultation Paper on European Green Bond Standard Regulation
On 26 March 2024, the European Securities and Markets Authority (“ESMA“) published a consultation on its first set of regulatory technical standards (“RTS“) under the EU Green Bond Standard Regulation (the “Consultation“). The Consultation addresses mandates relating to the registration and supervision of external reviewers and aims to clarify the criteria used for assessing an application for registration. Background The…

More than 40% of Public Companies Now Reporting on Scope 3 Emissions, but U.S. Lagging Far Behind: MSCI
Public companies globally are increasingly disclosing on their greenhouse gas emissions footprints, with around 60% now reporting direct Scope 1 and 2 emissions, and more than 40% on at least some Scope 3, or value chain, emissions, according to a new report by investment data and research provider MSCI, which also found that U.S. companies are falling far behind their…
On the Menu for Investors
A new class of weight-loss drugs is enticing investor interest, but has to be balanced against escalating societal and economic costs and food companies’ inaction on obesity. One of the biggest stories in recent years has been the dramatic rise in obesity worldwide. According to the World Health Organisation (WHO), an estimated 2 out of every 5 adults worldwide are…