Measures put in place to restore confidence in carbon credit markets could help push prices to $238 per ton, building a market value of over $1.1trn by 2050, according to BloombergNEF’s (BNEF) Long-Term Carbon Offsets Outlook 2024 report. Ongoing scrutiny and reputational issues led to 2023 being a challenging year for the voluntary carbon market, and 2024 looks set to…
ESG ratings providers will need to seek approval to ensure they comply with transparency requirements under rules that were provisionally agreed by the European Council and European Parliament this week. Lawmakers announced on 5 February they had agreed the regulation of ESG ratings activities to boost confidence in sustainable products: ESG rating providers will need to pay to be authorised and…
The European Commission today unveiled its anticipated recommendation to set a target to reduce net greenhouse gas emissions by 90% by 2040, compared to 1990 levels, kicking off the process of establishing the next interim climate target into law, on the path to the EU’s ambition to reach climate neutrality by 2050. Alongside its new announced recommendation, the Commission outlined…
By: Charisse Dean, Managing Director, KPMG US ESG Social Strategy Leader; Jessica Libby, KPMG Human Rights Co-Leader, Principal, Tax – Trade & Customs; Laura Clawson, KPMG Human Rights Director Traditionally, business has viewed supply chains through the lens of expediency and efficiency. Today, however, focusing solely on these factors is no longer sufficient. With increasing awareness of human rights violations…
Italian luxury sports car manufacturer Automobili Lamborghini announced a new climate commitment, targeting a 40% reduction in CO2 emissions on a “per car” basis across its entire value chain by 2030. The new commitment follows the launch in 2021 by Lamborghini of its environmental sustainability strategy, “Direzione Cor Tauri,” which focused on its roadmap to the electrification of its product…
Lawmakers in the European Parliament and Council announced today that they have reached a provisional agreement on a proposal to regulate ESG ratings providers, and introducing rules to increase the reliability and comparability of ESG ratings and prevent providers’ conflicts of interest. The new regulation would bring ESG ratings providers under the authority of European markets regulator ESMA, with providers…
Calamos Investment has made its Calamos Antetokounmpo Sustainable Equities strategy available to the European market. The firm said the fund is aimed at European investors seeking a US equity allocation while looking to participate in low-risk, long-term opportunities that deliver positive societal impact. Initially launched in February 2023 in the US, the sustainability focused UCITS is structured as a joint…
It’s February. The weather’s dreary, the news is bleak, and the ESG-bashing continues. But for all of us working in sustainable investing, there’s an emerging trend which should lift the winter blues: we’re seeing more financial advisers interested in engagement and stewardship. What’s more, formal groups of like-minded advisers are coming together to work collectively to advance their interests on…
Global alternative asset manager TPG announced today the appointment of Scott Lebovitz Partner and Head of Infrastructure for the firm’s climate investing platform TPG Rise Climate, in a move TPG said was aimed at enhancing the strategy’s capabilities in infrastructure and real assets. Launched in early 2021, TPG Rise Climate invests in climate solutions around the world, and across asset…