Green fuels seen as lifeline, as CEOs call on regulator to accelerate reforms at COP28. The shipping industry’s green transition will be stuck in the slow lane without incentives and rules to drive more private investment to diverse innovations, COP28 heard yesterday. Government officials and sector experts said increased investment was necessary in alternative fuels but also ships, ports and…
Bloomberg Launches Green Bond-Tilted Versions of its Flagship Fixed Income Indices
Bloomberg today announced the launch of new green-tilted versions of some of its flagship fixed income indices, including its Global Aggregate, Treasury and Corporate Indices, aimed at enabling investors to increase exposure to sustainable investments with products that maintain similar characteristics of the parent benchmarks. Green bond issuance volumes have surged over the past several years as companies and governments…
Amazon Cuts Shipping Emissions with 50% Increase in Rail and Sea Transport in Europe
Amazon revealed that it has grown its use of rail and sea transportation by 50% in 2023 in Europe, resulting in significant reductions in carbon emissions, as well as speeding up customer deliveries and inventory transfers, according to the company. Amazon has set a goal to achieve net zero carbon emissions by 2040 across its value chain. Scope 3 emissions,…
MAS Releases Finalized Code of Conduct for ESG Ratings and Data Providers
The Monetary Authority of Singapore (MAS), the central bank and financial regulator of Singapore, announced today the publication of its finalized Code of Conduct for ESG Rating and Data Product Providers (COC), introducing a set of principles aimed at boosting transparency, comparability and reliability of ESG ratings and data. The code of conduct, and an accompanying checklist for ESG ratings…
Thermo Fisher Commits to 80% Renewable Electricity Globally
Healthcare and life sciences-focused solutions provider Thermo Fisher Scientific announced today a new commitment achieve 80% renewable electricity globally by 2030. The new goal follows the launch of Thermo Fisher’s target in late 2022 to achieve a reduction of more than 50% in Scope 1 and 2 operational emissions by 2030, with one of the initiatives highlighted to reach its…
Exxon Ramps Low Emissions Opportunities Spend to $20 Billion
Energy giant ExxonMobil announced an increase in its investment plans for opportunities targeting lower emissions solutions, with a new goal to allocate $20 billion throughout its 2022-2027 corporate plan. Unveiled as past of Exxon’s Corporate Plan update today, the announcement marks the third increase in low emissions spend over the past three years is pursuing more than $20 billion of…
Ahold Delhaize Appoints Alex Holt as Chief Sustainability Officer
International food retailer Ahold Delhaize announced today the appointment of Alex Holt as Chief Sustainability Officer (CSO) and member of the Executive Committee. She succeeds Jan Ernst de Groot, the company’s first CSO, appointed in 2022, who recently announced plans to retire in May 2024. Ahold Delhaize appointed de Groot as its first CSO in 2022. The announcement marks Ahold…
Microsoft Signs One of the Largest-Ever Nature-Based Deals to Remove 1.5 Million Tons of Carbon
Microsoft and carbon removal startup Mombak announced a one of the largest-ever nature-based carbon removal offtake agreements globally, with Mombak providing the tech giant with up to 1.5 million carbon removal credits from its reforestation projects in the Brazilian Amazon. Founded in 2021, Brazil-based Mombak is focused on large-scale carbon removal projects, starting with native, biodiverse reforestation of the Amazon…