Investment commentators have largely welcomed the sweeping changes in last week’s SFDR draft proposal with “significant improvements” outlined for the disclosure framework and a new category system announced. The European Commission released the draft proposals of an updated Sustainable Finance Disclosure Regulation (SFDR) on 19 November – following a leak earlier in the month. A consultation had begun in 2023…
Amazon-backed X-energy Raises $700 Million to Meet Demand for Advanced Nuclear Reactors
Nuclear technology company X-energy announced that it has raised $700 million in a Series D financing round, with proceeds aimed at helping the company expand its supply chain and commercial pipeline, as it scales up to deploy advanced small modular reactors for companies including Amazon, Dow and Centrica. The new funding round was led by trading firm Jane Street, and…
Microsoft Signs Deal to Purchase Renewable Energy, Support Vulnerable Communities in Spain
Madrid-based renewable energy company Zelestra announced today a new collaboration with Microsoft and non-profit organization Fundación Ecología y Desarrollo (ECODES), including a power purchase agreement (PPA) to supply Microsoft with energy from two new solar plants in Spain, and a funding arrangement to support community-led sustainability initiatives in the region. Under the new PPA, Microsoft will purchase renewable energy from…
Florida AG Sues Glass Lewis, ISS for Pushing “ESG Agenda” in Proxy Voting Recommendations
Florida Attorney General James Uthmeier announced the filing of a new legal action against proxy advisory firms Glass Lewis and Institutional Shareholder Services (ISS), claiming that the firms violated consumer protection and antitrust laws by jointly pushing an “ESG agenda” through their activities. The new lawsuit forms the latest in a series of actions by anti-ESG politicians in the U.S., which…
COP30 Ends Without Binding Agreement to End Deforestation, or Any Mention of Fossil Fuels
A contentious final session to close out the COP30 climate conference in Belém Brazil ended in an agreement that avoided mentioning a shift away from fossil fuels for the second consecutive year, despite strong objections from the EU and UK, and that also failed to include a binding roadmap to end deforestation. In his closing remarks at the conference, UN…
ESG Today: Week in Review
This week in ESG news: Deutsche Bank expands sustainable finance strategy to target transition opportunities; U.S. appeals court pauses California climate reporting law just weeks before implementation; EU proposes overhaul of sustainable investing regulation; Credit Agricole commits to achieve 90% green financing ratio; DHL signs major U.S. sustainable aviation fuel deal; EU states vote to delay supply chain deforestation law…
Rio Tinto Signs 15-Year Renewable Energy Agreement to Power U.S. Mining Operations
Global mining and metals company Rio Tinto announced that it has signed a 15-year virtual power purchase agreement with renewable energy developer TerraGen for energy from a newly completed wind farm in Texas, for the company’s Kennecott operations in Utah, one of the world’s top producing copper mines. Rio Tinto is one of the world’s biggest producers and processors of…
ABN AMRO Appoints Sandra Phlippen as Chief Sustainability Officer
Netherlands-based bank ABN AMRO announced the appointment of Sandra Phlippen, who currently serves as the bank’s Chief Economist, as its new Chief Sustainability Officer, effective January 1. Phlippen joined ABN AMRO in 2018, and has been serving as Chief Economist for the bank since 2020. She also serves as an external advisor to the Council of State, advising the Dutch…