ESMA’s finalised guidance isn’t fully aligned with other jurisdictions and could be impacted by the SFDR review. Industry pundits are concerned that guidance on fund names for EU-domiciled sustainable products may have jumped the gun ahead of a final decision on the Sustainable Finance Disclosure Regulation (SFDR). Published on 14 May, the European Securities and Market Authority’s (ESMA) final report…
Google Signs its First Renewable Energy Purchase Deals in Japan
Google announced two new solar power purchase agreements (PPAs) in Japan, its first in the country, supporting the construction of new solar projects that will add 60 MW of clean energy capacity to the Japanese grid. According to Google, the new agreement will contribute to its commitment to power all its operations on 24/7 carbon-free energy (CFE) by 2030. Google…
EU Adopts Net Zero Industry Act to Scale up Decarbonization Technologies
The European Council announced today that it has approved the Net-Zero industry Act (NZIA), a new law introducing a framework of measures aimed at scaling up Europe’s manufacturing capacity for technologies key to achieving the EU’s climate goals. The announcement marks the last major step in the adoption of the NZIA, following the European Parliament’s approval of the new regulations…
Logistics Emissions Management Platform Shipzero Raises €8 Million
Green logistics-focused startup shipzero announced today that it has raised €8 million (USD$8.7 million) in a Series A funding round, with proceeds from the financing aimed at supporting the company’s growth, and the expansion of the capabilities and reach of its transport emissions management platform. Launched in 2018 by co-founders Mirko Schedlbauer and Tobias Bohnhoff, Hamburg, Germany-based shipzero helps shippers,…
EU Adopts New Product Sustainability Rules, Ban on Destruction of Unsold Clothing and Footwear
The European Council announced today the approval by member states of regulations for a new “Ecodesign” framework to establish sustainability requirements for nearly all products across the EU, as well as a new ban on the destruction of unsold textiles and footwear. The announcement by the EU Council marks the last major step towards the final adoption of the new…
Microsoft Signs 15-Year Renewable Energy Agreements with RWE in Texas
German power producer RWE announced that it has signed two 15-year power purchase agreements (PPAs) with Microsoft for the purchase of renewable energy from two new Texas-based onshore wind farms, with a combined capacity of 446 MW. The two new renewable energy projects include RWE Peyton Creek II and the Lane City project. Peyton Creek II, currently under construction, is…
ESG Today: Week in Review
This week in ESG news: 80% of companies see sustainability as revenue and profit driver, Morgan Stanley survey finds; EU passes environmental, human rights sustainability due diligence law; Holcim to build €500 million net zero cement plant; tech giants launch carbon removal buyers coalition; Bloomberg survey finds most lawyers don’t expect SEC climate disclosure rule to survive intact; Diageo decarbonizes…
Rio welcomes Thomas Pruden as Associate Director, Financial Services
Thomas recently joined Rio AI as Associate Director – Financial Services. Based in London, he brings a deep understanding of sustainability practices, essential for crafting sustainable financial strategies. Previously at Deloitte, Thomas led initiatives around the EU Taxonomy Regulation, developed the ‘Taxonomy Map’ framework and supported clients with sustainability disclosures under various directives such as CSRD and SFDR. His extensive…