ISS ESG, the sustainable investment arm of ISS STOXX, announced today the introduction of a new Industry Average Emission Intensity Data Set as part of the evolution of its suite of Climate Solutions, aimed at helping banks and insurance companies to comply with new mandatory climate reporting requirements, such as the EU’s Corporate Sustainability Reporting Directive (CSRD) and European Banking…
Cleantech startup Graphyte announced that it has raised $30 million in a Series A funding round, with proceeds aimed at accelerating the company’s carbon dioxide removal technology and scaling up its carbon removal operations. Founded in 2023, Graphyte provides durable and low-cost carbon removal technology utilizing natural processes such as photosynthesis. The company’s Carbon Casting approach to carbon removal dries…
Deutsche Bank announced today that it has launched a new sustainability-linked payables finance program for chemicals and materials company BASF in Asia, aimed at motivating the company’s suppliers to adopt sustainable practices. The program will focus on BASF’s operations in China. Under the new program, the sustainability performance of BASF’s suppliers will be measured by supplier sustainability rating platform EcoVadis,…
The International Accounting Standards Board (IASB), the accounting standards-setting body of the IFRS Foundation, announced today the publication of a consultation document, with a series of new proposed illustrative examples aimed at enabling companies to provide investors with better information about climate-related risks and other uncertainties. The IASB provides illustrative examples as non-mandatory guidance accompanying IFRS Accounting Standards, with the…
The UK government announced today that its budget for its renewable energy auction would be the largest in the country’s history, £1.5 billion (USD$1.93 billion), including £1.1 billion for offshore wind. The government said that this is an increase of £500 million, 50% more than the budget set in March and larger than all previous energy auctions combined. Ed Miliband,…
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 the release of a series of research publications aimed at informing its new standard for corporate climate target-setting, with findings indicating that the new standard is unlikely to allow companies to use carbon…