In a bid to simplify the regime, the European Supervisory Authorities run the risk of adding complexity, regulatory specialists say. The European Supervisory Authorities’ (ESAs) proposal for a revamped Sustainable Finance Disclosure Regulation (SFDR) may seek to clarify the regime, but lawyers are concerned it could make it diverge from other jurisdictional rules, creating disruption for fund managers. The European Banking…
Bloomberg Launches New CSRD Sustainability Data Solution
Business and financial markets information service provider Bloomberg announced today the launch of a new offering, aimed at providing financial firms with data reported by companies under the EU’s new Corporate Sustainability Reporting Directive. The CSRD is a major update to the EU’s Non-Financial Reporting Directive (NFRD), the previous EU sustainability reporting framework, significantly expanding the number of companies required…
H&M Invests in Industrial Decarbonization Startup Rondo Energy to Tackle Fashion Supply Chain Emissions
Fashion and design brands company H&M Group announced the launch of a new partnership with zero-carbon industrial heat solutions provider Rondo Energy, aimed at applying Rondo’s industrial decarbonization solution to help address the emissions footprint of H&M’s supply chain. Founded in 2020, California-based Rondo Energy provides solutions to address emissions from industrial heat processes. Industrial heating uses high amounts of…
FedEx Appoints Karen Blanks Ellis as New Chief Sustainability Officer
Global delivery giant FedEx announced that Karen Blanks Ellis will become the company’s next Chief Sustainability Officer, succeeding current CSO Mitch Jackson, who will be retiring from FedEx at the end of June. Ellis joined FedEx in 1997 and previously held the role of Managing Director, Strategic Environmental Management & Sustainability at the company. She has served in a variety…
Australia Launches Plans for Mandatory Climate Reporting, Taxonomy, Sustainable Investment Labels
The Government of Australia’s Treasury department announced today the release of its Sustainable Finance Roadmap, outlining its plans to develop and reform financial markets to support the mobilization of private capital needed to finance the transition to a net zero economy, with key priorities including instituting mandatory climate-relating reporting, establishing a sustainable finance taxonomy, and instituting a labeling regime for…
Sustainable Building Solutions Provider Bisly Raises €6.2 Million
Sustainable building solutions provider Bisly announced today that it has raised €6.2 million (USD$6.7 million) in a Series A funding round, with proceeds to be used for its European expansion, including in Germany and the United Kingdom, where the company has already opened offices. Buildings are a key source of global greenhouse gas (GHG) emissions, and also one of the…
Swiss Government Allows Financial Sector to Self-Regulate Greenwashing Prevention
Switzerland’s Federal Council announced today that it will hold off on regulating greenwashing in the financial sector, allowing instead for the industry to monitor itself, following progress made by the sector’s associations in developing and implementing self-regulatory provisions. The decision follows the release in December 2022 of a paper by the Swiss Federal Council outlining its position on the prevention…
LD Carbon Raises $28 Million to Scale Sustainable Tire Recycling Capacity
Circular economy technology company LD Carbon announced today that it has raised $28 million in a Series C funding round led by Toyota’s growth fund, Woven Capital. The company will use the investment to scale its operations recycling end-of-life tires and material from end-of-life vehicles into recovered carbon black and pyrolysis oil. Founded in 2017, South Korea-based LD Carbon produces…