The Council of the European Union announced today the adoption of a regulation creating a new European Green Bond Standard, marking the last major step for the establishment of a new European Green Bonds (EuGB) label, aimed at fighting greenwashing and helping advance the sustainable finance market in the EU. In addition to setting out the requirements for issuers wishing…
Fashion and design brands company H&M Group announced the issuance ofits inaugural green bond, raising €500 million (USD$530 million) to support the company’s environmental initiatives, including its climate and circularity roadmap. The offering of the 8-year bonds under H&M’s Euro Medium Term Note (EMTN) program saw strong demand, with the issuancemore than 3.5 times oversubscribed with a total order book…
Deutsche Bank announced the publication of its initial Transition Plan, outlining the bank’s methodologies, targets and achievements on its path to net-zero by 2050, across its own operations and supply chain, as well as financed emissions. The publication includes new targets for emissions reductions from financing carbon-intensive sectors including coal mining, cement and shipping, as well as new goals for…
Demand for fossil fuels including coal, oil and natural gas are expected to peak this decade under today’s policy setting, according to the International Energy Agency’s (IEA) flagship World Energy Outlook (WEO) 2023 report, marking the first time the report has forecast this under its current policies scenario, as rapid growth in clean energy technologies and structural economic and geopolitical…
The Australian Accounting Standards Board (AASB) announced today the release of a new exposure draft, outlining its proposed standards for companies to report climate-related information, based on the recently released sustainability disclosure standards by the IFRS Foundation’s International Sustainability Standards Board (ISSB). The launch of the new proposed standards follows plans released by the government of Australia earlier this year…
A group of over 130 companies, representing approximately $1 trillion in global revenue, announced the release of an open letter to governments attending the upcoming UN COP28 climate conference, urging them to set timelines for phasing out fossil fuel production and use, and to massively increase the global deployment of renewable energy capacity this decade. The letter, coordinated by climate-focused…
Nearly two thirds of institutional investors cite long-term financial returns as a key driver of investing in sustainability and impact strategies, ahead of any other driver, according to a new study released by global investment manager Schroders, which found a shift in focus on sustainable investing towards capitalizing on opportunities, rather than primarily as a risk management tool. For the…