Tokyo-based banking and financial services company Mizuho announced a series of climate-focused initiatives, including introducing a new framework aimed at more actively supporting green projects for clients in high-risk areas in carbon-related sectors, and expanding its interim financed emissions reduction targets to the automotive and maritime transport sectors. The new green project framework, forming part of Mizuho’s response policy for…
Tennessee Attorney General Jonathan Skrmetti announced the launch of a new lawsuit against investment giant BlackRock, alleging that the misrepresented the extent to which it uses ESG considerations in its investment strategies, including in those that do not have a stated sustainability focus. The complaint states that BlackRock is “deceiving consumers about the company’s extensive commitment to fulfilling ESG aims.”…
The UK government announced that it will introduce a carbon border adjustment mechanism (CBAM) by 2027, establishing a carbon tax on imported goods targeted at a series of key emissions-intensive industries, aimed at equalizing the carbon price paid by UK producers with those outside the UK, and avoiding “carbon leakage,” or shifting of production of carbon-intensive goods to jurisdictions with…
EU markets regulator the European Securities and Markets Authority (ESMA) announced the release of an update of its proposed guidance for the use of ESG and sustainability-related terms in investment fund names, including the introduction of a new “transition” category enabling the use of labels to identify funds that include investments not currently classified as green, but are focused on…
By: Clare Adelgren, EY Global Head of Blockchain Sales and Operations As companies globally accelerate their decarbonization journeys, scope 3 emissions—which include all indirect emissions originating from organizations’ upstream and downstream activities such as supply chain—present a significant challenge. Although scope 3 is often the largest portion of an organization’s carbon footprint, accounting for, it is also the most difficult…
Global alternative asset and private equity investor KKR announced the release of its 2024 Global Macro Outlook, identifying decarbonization, and the large scale “brown-to-green” transition of asset-heavy sectors in particular, as a key “mega-theme” driving investment opportunities. In the report by Henry McVey, CIO of KKR’s Balance Sheet and Head of Global Macro and Asset Allocation, KKR notes that while…
Private equity investor Apax announced the final close of the Apax Global Impact Fund (AGI), with commitments of approximately $900 million for investments in companies that provide products and services addressing environmental and social issues. According to Apax, the fund aims to support companies delivering tangible social or environmental impact, targeting key themes including Health & Wellness, Environment & Resources,…