The Science Based Targets initiative (SBTi), one of the key organizations focused on aligning corporate environmental sustainability action with the global goals of limiting climate change, announced plans to extend the use of environmental attribute certificates, such as emissions reduction credits, to tackle Scope 3 value chain emissions, in its standard for corporate net zero target setting. The SBTi was…

On 26 March 2024, the European Securities and Markets Authority (“ESMA“) published a consultation on its first set of regulatory technical standards (“RTS“) under the EU Green Bond Standard Regulation (the “Consultation“). The Consultation addresses mandates relating to the registration and supervision of external reviewers and aims to clarify the criteria used for assessing an application for registration. Background The…

Public companies globally are increasingly disclosing on their greenhouse gas emissions footprints, with around 60% now reporting direct Scope 1 and 2 emissions, and more than 40% on at least some Scope 3, or value chain, emissions, according to a new report by investment data and research provider MSCI, which also found that U.S. companies are falling far behind their…

UK-based commercial property investment manager Orchard Street Investment Management announced the appointment of Kathryn Barber as Head of Responsibility and ESG. In her new role, Barber will focus on building Orchard Street’s credentials as a responsible investor, and the integration of ESG across client portfolios. In addition, Barber will support the delivery of social and environmental impact on behalf of…

Climate solutions startup Mission Zero announced that it has raised £21.8 million (USD$27.7 million) in a Series A financing, with proceeds to be used to help scale its Direct Air Capture (DAC) carbon removal technology. DAC technology, listed by the IEA as a key carbon removal option in the transition to a net-zero energy system, extracts CO2 directly from the…

West Virginia Treasurer Riley Moore announced that several banks, including HSBC, Citi, Northern Trust and TD Bank, have been added to the list of financial institutions determined to be engaged in “boycotts” of fossil fuel companies, and barred from providing banking services to the state. The announcement marks the latest in a series of moves in an ongoing anti-ESG movement…

Approximately 3,000 U.S. companies must comply with new EU rules, and many are not prepared. Here’s what they should know. By Harry Etra, Managing Director, North America ESG at Morrow Sodali Many U.S. companies with substantial business in Europe are not prepared for new sustainability disclosure regulations. We are at an inflection point for companies to understand their exposure to…

Climate solutions software provider Watershed announced today the launch of Watershed for CSRD, a new software solution aimed at helping companies to collect and manage data for disclosure under the EU’s new Corporate Sustainability Reporting Directive (CSRD). The CSRD, which began applying to some companies as of the beginning of 2024, will significantly expand the number of companies required to…

The Sustainability Standards Board of Japan (SSBJ) announced the release of new exposure drafts for proposed standards for companies to report sustainability and climate-related information, based on the recently released sustainability disclosure standards by the IFRS Foundation’s International Sustainability Standards Board (ISSB). The release of the exposure drafts marks the latest in a series of steps that may see Japanese…