Author Anna Krotova explains how chief sustainability officers can successfully anchor their function within the core operations of an organisation. With the EU’s Corporate Sustainability Reporting Directive (CSRD) coming into effect this year, many of the 50,000 in-scope companies will be looking to hire or appoint a sustainability lead or chief sustainability officer (CSO). Anna Krotova, co-author of ‘How to…
Goldman Sachs Invests $440 Million in Renewables Platform BrightNight
Goldman Sachs Asset Management’s alternative investments platform Goldman Sachs Alternatives announced today a $440 million strategic investment in renewable power company BrightNight, with proceeds aimed at supporting the company’s independent power producer (IPP) business model and the buildout of its utility-scale portfolio across the U.S. Teresa Mattamouros, Managing Director in Infrastructure at Goldman Sachs Alternatives, said: “Demand for renewable energy…
Sustainable Bond Issuance Could Grow to $1 Trillion in 2024 Despite Sharp Q2 Slowdown: Moody’s
Global issuance of labelled sustainable bonds – including green, social, sustainability, sustainability-linked, and transition bonds – declined sharply in the second quarter of 2024, as fewer new issuers entered the market and issuers contend with regulatory scrutiny, according to a new report released by Moody’s Ratings. Despite the decline, however, Moody’s notes that the sustainable bond market remains on track…
ISSB to enhance an initial set of SASB Standards
The International Sustainability Standards Board (ISSB) is further enhancing the SASB Standards as part of its new two year work plan. Companies applying IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information are required to consider the SASB Standards to identify their sustainability-related risks and opportunities and provide appropriate disclosures for topics beyond climate. The ISSB has now set…
Renewables Developer Avantus Secures $522 Million to Accelerate Solar and Storage Projects
Alternative asset and private equity investor KKR announced the completion of the acquisition of a majority stake in U.S. solar and storage developer Avantus that was announced in March. Concurrently, Avantus announced it has closed on a $522 million development facility arranged by KKR Capital Markets and Sumitomo Mitsui Banking Corporation (SMBC). Founded in 2009, California-based Avantus develops and sells…
ISS ESG Launches Tool to Help Banks Estimate Portfolio Emissions to Meet Sustainability Reporting Requirements
ISS ESG, the sustainable investment arm of ISS STOXX, announced today the introduction of a new Industry Average Emission Intensity Data Set as part of the evolution of its suite of Climate Solutions, aimed at helping banks and insurance companies to comply with new mandatory climate reporting requirements, such as the EU’s Corporate Sustainability Reporting Directive (CSRD) and European Banking…
Cleantech Startup Graphyte Raises $30 Million to Scale Carbon Removal Solution
Cleantech startup Graphyte announced that it has raised $30 million in a Series A funding round, with proceeds aimed at accelerating the company’s carbon dioxide removal technology and scaling up its carbon removal operations. Founded in 2023, Graphyte provides durable and low-cost carbon removal technology utilizing natural processes such as photosynthesis. The company’s Carbon Casting approach to carbon removal dries…
Deutsche Bank, BASF Launch Finance Program Tying Rates for Suppliers to Sustainability Performance
Deutsche Bank announced today that it has launched a new sustainability-linked payables finance program for chemicals and materials company BASF in Asia, aimed at motivating the company’s suppliers to adopt sustainable practices. The program will focus on BASF’s operations in China. Under the new program, the sustainability performance of BASF’s suppliers will be measured by supplier sustainability rating platform EcoVadis,…