Deutsche Bank announced the publication of its initial Transition Plan, outlining the bank’s methodologies, targets and achievements on its path to net-zero by 2050, across its own operations and supply chain, as well as financed emissions. The publication includes new targets for emissions reductions from financing carbon-intensive sectors including coal mining, cement and shipping, as well as new goals for…
Demand for fossil fuels including coal, oil and natural gas are expected to peak this decade under today’s policy setting, according to the International Energy Agency’s (IEA) flagship World Energy Outlook (WEO) 2023 report, marking the first time the report has forecast this under its current policies scenario, as rapid growth in clean energy technologies and structural economic and geopolitical…
The Australian Accounting Standards Board (AASB) announced today the release of a new exposure draft, outlining its proposed standards for companies to report climate-related information, based on the recently released sustainability disclosure standards by the IFRS Foundation’s International Sustainability Standards Board (ISSB). The launch of the new proposed standards follows plans released by the government of Australia earlier this year…
A group of over 130 companies, representing approximately $1 trillion in global revenue, announced the release of an open letter to governments attending the upcoming UN COP28 climate conference, urging them to set timelines for phasing out fossil fuel production and use, and to massively increase the global deployment of renewable energy capacity this decade. The letter, coordinated by climate-focused…
Nearly two thirds of institutional investors cite long-term financial returns as a key driver of investing in sustainability and impact strategies, ahead of any other driver, according to a new study released by global investment manager Schroders, which found a shift in focus on sustainable investing towards capitalizing on opportunities, rather than primarily as a risk management tool. For the…
Climate tech startup Overstory announced that it has raised $14 million, with proceeds aimed at helping the company develop its AI-based product to reduce the risk of wildfires and power outages. Founded in 2018, Amsterdam-based Overstory offers predictive AI-based technology for utilities that provides tree-level insights about vegetation, to help mitigate wildfires, protect biodiversity, and enable informed decision making about…