Changes proposed by the FCA risk removing pressure from firms to perform and could encourage lack of accountability from management. Institutional investors have stressed that the UK should not follow the US in the uptake of dual class share structures (DCSS), as a proposal from the Financial Conduct Authority (FCA) could make it easier for them to be used in…
Denmark Announces First-Ever Carbon Tax on Agriculture
The Government of Denmark announced a series of moves aimed at addressing the climate and nature impact of the country’s agricultural sector, including plans to introduce a carbon tax on emissions from livestock. The initiative forms part of a new “Green Tripartite” agreement, including the government, environmental organizations, agricultural sector associations and unions. Agriculture has emerged as a major focus…
Heat Pump Startup Aira to Invest €300 Million in Poland Manufacturing Plant
Clean energy tech startup Aira announced today the inauguration of its first heat pump production site in Wroclaw, Poland, with the company planning to invest €300 million (USD$320 million) in the manufacturing plant, to produce up to 500,000 heat pumps per year. Founded in 2022 by impact company builder Vargas, Stockholm, Sweden-based Aira provides clean energy-tech solutions aimed at accelerating…
MUFG Invests in Sustainable Aviation Fuel Technology Company LanzaJet
Sustainable aviation fuel (SAF) technology and production company LanzaJet today announced an investment from Tokyo-based banking group Mitsubishi UFJ Financial Group (MUFG). The investment is part of LanzaJet’s current $100 million growth equity funding round, aimed at enabling the company to continue scaling its ethanol-to-SAF technology. Launched in 2020 by carbon recycling technology company LanzaTech, Illinois-based LanzaJet has developed “Alcohol-to-Jet”…
Lufthansa Raises Fares to Cover Costs of New Climate Regulations
The Lufthansa Group announced today the introduction of a new Environmental Cost Surcharge to its fares, passing the cost associated with meeting growing environmental regulations on to customers. The surcharge applies to all flights sold and operated by the Lufthansa Group departing from the 27 EU countries as well as the UK, Norway and Switzerland from January 1, 2025 and…
IBM Launches AI-Powered Emissions Tracking Solution for Asset-Intensive Sectors
IBM announced the launch of Maximo Emissions Management, a new AI-powered solution aimed at helping companies in asset-intensive industries, such as the energy, industry, transportation and buildings sectors, to track, manage and report emissions. The new solution forms part of a series of new capabilities added to the company’s intelligent asset management software suite, IBM Maximo. According to IBM, the…
Volkswagen Invests $5 Billion in Rivian to Develop Technology for Next Generation of Electric Vehicles
Automotive giant Volkswagen Group and electric vehicle producer Rivian announced today plans to launch a new joint venture, aimed at developing next-generation electrical architecture and software technology to be used in each of the companies’ electric vehicles. As part of the new transaction, Volkswagen announced that it will invest $5 billion into Rivian, including $3 billion in corporate equity investments…
Canada Passes New Corporate Greenwashing Rules into Law
The government of Canada passed a series of new rules into law aimed at tackling greenwashing, or unsupported claims by companies about the environmental benefits of their products or business activities. The new laws were passed as part of amendments made to Canada’s Competition Act, based on proposed changes introduced in the Government’s Fall Economic Statement in November 2023, which…