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…
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…
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, 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 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 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,…
The International Accounting Standards Board (IASB), the accounting standards-setting body of the IFRS Foundation, announced today the publication of a consultation document, with a series of new proposed illustrative examples aimed at enabling companies to provide investors with better information about climate-related risks and other uncertainties. The IASB provides illustrative examples as non-mandatory guidance accompanying IFRS Accounting Standards, with the…