By Kirsten Vosen, Audit & Assurance Deloitte Private leader, Deloitte & Touche LLP As 2024 begins, environmental, social, and governance (ESG) considerations are front of mind in many corporate boardrooms, often as never before. Pushed by both regulators and the public, more companies are feeling pressure to disclose how ESG matters can impact their business – both from a risk…
Clean energy investment globally rose sharply in 2023, increasing by 17% to $1.8 trillion, with particularly strong growth in electrified transport and emerging areas including hydrogen and carbon capture, according to a new report by BloombergNEF (BNEF). Despite achieving record levels, however, the report noted that investment remains far below levels needed to align with a Paris-aligned net zero scenario,…
Only 21.6% of management companies have issued a publicly accessible Principal Adverse Impact (PAI) statement, which fails to comply with Sustainable Finance Disclosure Regulation’s (SFDR) Level II technical standards. A study conducted by PwC Luxembourg, and presented in the report Principal Adverse Impact Statements in the AWM Industry: Mind the Gap, found while there were positive examples within the PAI…
Climate change scenarios used by investors in their financial projections “were not created with investors in mind”, and projections based upon them “could lull people into a false sense of security”, according to Professor Riccardo Rebonato, scientific director at the EDHEC-Risk Climate Impact Institute. The Institute’s research looking at Dynamic Integrated Climate-Economy (DICE) models concluded they have been inappropriately used…
Leading insurance and investment group Allianz announced the launch of SAMEpath, a new tool aimed at enabling users to track transition pathways to net zero, including plotting the emissions reductions and investment required to achieve the Paris Agreement goals, and charting the economic developments and transition risks for sectors and economies in different climate scenarios. Ludovic Subran, Chief Economist at Allianz,…
Sustainable financial technology company Crux announced today that it has raised $18.2 million in Series A funding, with proceeds from the funding aimed at supporting the company’s growth as it builds a sustainable finance platform for transferable tax credits, including organic and inorganic opportunities. The financing round brings the company’s total funding to date to over $27 million. The financing…
Jewelry designer and retailer Pandora announced today that it is now sourcing only recycled silver and gold for all its jewelry, in a move the company said will avoid 58,000 tons of CO2 emissions annually. The announcement marks the early achievement of Pandora’s goal, set in 2020, to adjust its supply chain to source 100% recycled gold and silver by…
Metals technology company Boston Metal announced a $20 million investment from Tokyo-based Marunouchi Innovation Partners, increasing the company’s Series C2 funding round to $282 million, with proceeds from the financing to be used to accelerate its platform enabling decarbonized steelmaking. Founded in 2013, Boston Metal is commercializing Molten Oxide Electrolysis (MOE), an electricity-powered metals production platform that can be used…