A federal court in Australia assigned a record A$12.9 million (USD$8.9 million) penalty to Vanguard Investments Australia for misleading claims made by the investment management firm about one of its ESG funds, including failing to apply exclusionary screens to avoid investments in companies with fossil fuel activities, as claimed in its communication materials and disclosures. The fund, the Vanguard Ethically Conscious…
On 3 September 2024, the UK Government published its factsheet on the Great British Energy Bill which received its Second Reading in the House of Commons on 5 September. The purpose of the Bill is to establish a publicly-owned energy company designed to drive clean energy deployment and support the UK Government’s aim of decarbonising the UK’s electricity system by…
On September 16, 2024, Brazil’s Attorney General filed a lawsuit seeking compensation for climate damage resulting from environmental infractions allegedly perpetrated by livestock farmers inside a Conservation Unit, more specifically the Jamanxim National Park, located in the Amazon Rainforest. In Brazil, a Conservation Unit is a type of specially protected area, legally established by public authorities, to which a special…
Sublime Systems, which specializes in producing low-carbon cement, announced today a new partnership with building materials giants CRH and Holcim, including a $75 million equity investment and a binding offtake reservation, aimed at supporting the near-term development and operations of Sublime’s first commercial manufacturing facility in Holyoke, Mass. Cement production is a significant contributor to global greenhouse gas emissions, and…
TotalEnergies, one of the world’s largest energy companies, has signed a Memorandum of Understanding (MoU) with Air France-KLM for the delivery of an additional 1.5 million tons, or nearly 1.9 billion liters, of sustainable aviation fuel over a 10-year period until 2035. The new deal builds on a contract that was signed between the companies in 2022, in which TotalEnergies…
TPG Rise Climate, the climate investing strategy of TPG’s global impact investing platform, TPG Rise, announced that it has raised $1.25 billion in initial capital commitments for its new Global South Initiative (GSI) strategy, aimed at accelerating transformative climate solutions across the Global South, including a $500 million commitment from UAE-backed climate investment platform ALTÉRRA. The new GSI strategy was…
Hey everyone! Luke (CCO) here writing about how Day 2 has been at New York Climate Week! This morning we joined our network at the Nest, meeting with dozens of other sustainable tech entrepreneurs, sustainability managers/directors, and practitioners looking for solutions. It’s been a fully packed day following a later evening networking with senior sustainability officers, from private backed businesses…
The LEGO Group revealed progress in its efforts to shift its products towards using more sustainable materials, announcing that it has seen an 83% increase in renewable content in its bricks in the first six months of 2024, with 30% of the resin used by the company sourced under a “mass balance” approach, translating to 22% renewable sources in its…
The Hong Kong Institute of Certified Public Accountants (HKICPA) announced the publication of new exposure drafts with proposed sustainability-related and climate-related reporting standards for companies, fully aligned with the standards issued by the IFRS Foundation’s International Sustainability Standards Board (ISSB). The HKICPA proposal aims to have the standards effective from August 2025. The publication of the new proposals follows the…