The Hong Kong Monetary Authority (HKMA), Hong Kong’s central banking institution, announced the launch of its Sustainable Finance Action Agenda, setting out a series of finance sector-focused targets and planned actions to support green and sustainable financing needs to support the low carbon transition and to establish Hong Kong as a “sustainable finance hub” in the region. Among the key…
Southwest Airlines announced a new supply agreement for up to 25 million gallons of sustainable aviation fuel (SAF) for use at Chicago Midway International Airport (MDW) with Valero Energy Corporation subsidiary Valero Marketing and Supply Company. The deal marks Illinois’ largest announced SAF supply agreement to date. The agreement follows the release last year by Southwest of its updated sustainability strategy, “Nonstop to…
Mercedes-Benz announced today the opening of a new battery recycling plant in Kuppenheim, southern Germany, creating “a genuine circular economy,” according to the company, with a 96% recovery rate, and the ability to recover key materials such as lithium, nickel and cobalt in a way which is suitable for use in new batteries for future electric vehicles. Mercedes-Benz said that…
J.P. Morgan announced today that it has hired former National Oceanic and Atmospheric Administration (NOAA) Chief Scientist Dr. Sarah Kapnick as Global Head of Climate Advisory within the firm’s Commercial and Investment Bank. According to an internal memo seen by ESG Today, the appointment comes as J.P. Morgan views decarbonization and energy transition as major trends influencing capital formation, with…
The U.S. Department of Energy (DOE) announced that it has opened applications for funding of up to $900 million to support Gen III+ small modular reactor (SMR) technologies. According to the DOE, the new funding is aimed at spurring the deployment of advanced reactor technologies across the U.S., and encourage follow-on reactor projects, to support U.S. climate goals and meet…
The European Commission announced today that it has approved a €128 million Swedish state aid measure aimed at supporting a project by steel company SSAB to decarbonize its steel production. The new funding will support a project to transition from coal-based steel production to electric arc furnace production using fossil-free energy sources. The grant will be made available through the…