Too many cooks in the kitchen could, however, overcomplicate efforts to ensure fairness and transparency of new rules. Investors and businesses have an important role to play in pushing for political cohesion on the establishment of a fair and clear global tax system. There has been ongoing tension between the UN and the Organisation for Economic Cooperation and Development…
EU Banking Regulator Releases Proposed Requirements for Banks to Manage ESG, Climate Transition Risks
EU banking supervisor The European Banking Authority (EBA) announced the launch of a consultation on new proposed guidelines, setting out requirements for banks to identify, measure, manage and monitor ESG risks, including setting plans to address risks arising from the EU’s transition to a climate-neutral economy. Requirements for banks under the proposed guidelines would include undertaking regular materiality assessments of…
Green Steel Startup Element Zero Raises $10 Million
Element Zero, a green materials platform company, announced today that it has raised $10 million in seed funding, with proceeds to be used to scale up its platform aimed at decarbonizing iron and other critical metals production. Founded in 2022, Element Zero offers a cost effective and efficient platform for the conversion of iron ore and other metals into their…
Supply Chain Traceability Platform TrusTrace Raises $24 Million
Supply chain traceability platform TrusTrace, announced today that it has raised $24 million through a growth investment led by circular economy-focused investor Circularity Capital. Founded in 2016, Stockholm, Sweden-based TrusTrace offers a software-as-a-service (SaaS) platform for supply chain traceability and compliance, enabling brands and suppliers to standardize how supply chain and material traceability data is captured, digitized, and shared. With…
Novata Launches Carbon Data Management and Reporting Solution for Private Markets
Private markets ESG-focused data solutions provider Novata announced today the launch of a new solution, Novata Carbon Navigator, aimed at enabling users to track, measure and report carbon data. According to Novata, the new solution was developed to address organizations’ needs to monitor and reduce their carbon footprint and meet disclosure requirements, as businesses face increasing transparency and sustainability demands….
Amazon Invests in Over 100 New Solar and Wind Projects Over Past Year
Amazon announced that it invested in more than 100 new solar and wind energy projects in 2023, claiming the title of largest corporate purchaser of renewable energy for the fourth consecutive year, and bringing the company’s pipeline of clean energy capacity to greater than 77,000 GWh per year, roughly equivalent to the power needs of 7.2 million homes. According to…
EU Lawmakers Agree on New Rules to Reduce Emissions from Trucks by 90% by 2040
Lawmakers in the European Parliament and Council announced today that they have reached a provisional agreement on proposed new rules to strengthen emissions standards for heavy-duty vehicles, including a requirement for a 90% emissions reduction for heavy trucks by 2040. Additional interim requirements covered by the agreed standard include 45% emissions reductions from 2030, and 65% from 2035. The agreement…