Carbon removal buyer coalition Frontier announced that it has facilitated offtake agreements to purchase $48.6 million of carbon removal output generated by Stockholm Exergi’s planned bio-energy with carbon capture and storage (BECCS) facility in Sweden, on behalf of buyers including Alphabet, Meta, JPMorgan Chase, and H&M, among others. Launched in April 2022 with commitments by tech companies Stripe, Alphabet, Shopify and…
Europe’s three primary financial regulatory agencies, the European Supervisory Authorities (ESAs), announced the publication of a new assessment of the Sustainable Finance Disclosure Regulation (SFDR), proposing a series of changes and updates to the regulation, including the introduction of new “Sustainable” and “Transition” categories for financial products such as investment funds, life insurance and pension products. The ESAs include The…
Chocolate, candy and snacks producer Hershey announced today a series of new climate-related goals, with new targets to reduce emissions originating in its value chain, including Forest Land and Agriculture (FLAG) emissions. According to Hershey’s 2023 ESG report, Scope 3 emissions, or those originating in the company’s value chain outside of its direct control, account for the vast majority, roughly…
CRM solutions provider Salesforce announced today a series of new climate and energy transition-related commitments, including a pledge to purchase $25 million of permanent carbon removals from carbon removal coalition Frontier, in addition to the signing of its first European virtual power purchase agreement (VPPA), as well as nearly $4 million in clean energy-focused philanthropic grants. Salesforce’s new carbon removal…
Business data and reporting solutions provider Workiva announced today the launch of Workiva Carbon, a new solution aimed at enabling companies to collect, manage and report business and value chain greenhouse gas emissions data. According to Workiva, the launch comes as companies face increasing demand for sustainability reporting, including through regulations such as the EU’s CSRD, the U.S. SEC’s climate…
BTG Pactual Timberland Investment Group (TIG) and Microsoft announced today that they have signed a large-scale, long-term nature-based carbon removal agreement, with Microsoft purchasing 8 million tons of carbon removal credits through 2043 generated through TIG’s reforestation and restoration strategy in Latin America. According to the companies, the agreement marks the largest known carbon dioxide removal credit transaction to date,…