The Hong Kong Monetary Authority (HKMA), Hong Kong’s central banking institution, announced the publication of the Hong Kong Taxonomy for Sustainable Finance, aimed at defining and classifying environmentally sustainable economic activities, to help inform decision making and facilitate green finance flows. According to the HKMA, the sustainable finance taxonomy provides an important tool by enabling a standardized framework for the…
The U.S. Department of Energy (DOE) announced the launch of a new Funding Opportunity Announcement (FOA), with up to $500 million available for projects expanding CO2 transport infrastructure capacity, aimed at supporting the future growth of the U.S. carbon capture and storage industry. Funding under the new program is being made available under the Bipartisan Infrastructure Law, which allocates approximately $6.5…
The UK government’s strategy to reach net zero emissions by 2050 was ruled to fall short of legal requirements by the High Court for a second time, with the court supporting challenges claiming that the plan did not provide sufficient information on the risk to achieving the required emissions reductions, which rely in part on the development of future technologies….
Microsoft and Swedish energy company Stockholm Exergi announced today a 10-year offtake agreement with Stockholm Exergi providing Microsoft with more than 3.3 million tonnes of carbon removal certificates from its planned bio-energy with carbon capture and storage (BECCS) at Värtan, Stockholm. The agreement marks the largest-ever engineered carbon removal deal in the world to date, according to the companies. Stockholm…
This week in ESG news: EU delays sustainability reporting standards for sectors, non-EU companies for 2 years; Microsoft signs largest-ever corporate clean energy deal; Bloomberg launches sustainability screening tool for investors; IBM appoints new Chief Sustainability Officer; IFRS & EFRAG publish guide for companies complying with ISSB and CSRD sustainability reporting; EU launches greenwashing action against 20 airlines; EY acquires…
IBM has appointed Christina Shim as its new Chief Sustainability Officer, according to an internal memo seen by ESG Today, taking over the role from current CSO and Vice President, Corporate Environmental Affairs & Product Safety Wayne Balta, who will be retiring in June. Shim joined IBM in 2021, and has most recently been serving as Global Head of Sustainability…