Sweden-based global steel company SSAB announced a decision to build a fossil-free mini-mill in Luleå, Sweden, capable of producing 2.5 million tonnes of carbon emission-free steel annually. Total investment in the new mill is estimated at €4.5 billion (USD$4.9 billion), and the project is expected to reduce Sweden’s CO2 emissions by 7%. Steelmaking is one of the biggest emitters of…
Hydrogen mobility startup HysetCo announced that it has raised nearly €200 million (USD$217 million) in a new financing round led by hydrogen-focused investor Hy24, with proceeds from the financing to be used to the company’s solutions aimed at decarbonizing urban transport. Founded in 2015, France-based HysetCo offers solutions to support hydrogen mobility, including the development of hydrogen refueling stations, an…
Professional services firm EY announced the appointment of Chase Jordan as EY Global Private Equity ESG Leader. In his new role, Jordan will work with PE firms to help drive ESG-focused transformations within portfolio companies, and aiming for stronger ESG narratives upon exits. Jordan will be responsible for collaborating across fund lifecycles and embedding sustainability into both fund-level strategy and portfolio…
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…