ESG Today: Week in Review

This week in ESG news: SEC reconsiders its climate reporting rule; SBTi pushes back timeline for new Net Zero Standard; California climate reporting law passes legal hurdle; HSBC’s new Chief Sustainability Officer; Columbia launches climate finance Masters degree; NEOM plans $5 billion net zero AI data facility; Macquarie exits net zero banking group; U.S. boards say execs should stay quiet on social issues; 22 states sue to block New York law charging oil companies for climate adaptation; ISS removes diversity from U.S. proxy voting recommendations; capital raises for battery tech, e-fuels, energy storage, carbon removal; Microsoft sources solar energy in Texas, Illinois; IBM, Ramboll partner on sustainability strategy & reporting solutions, and more.

See below for the highlights of the past week, and get all your ESG news at ESG Today:

Sustainability Goals, Initiatives and Achievements

SBTi Pushes Back Timeline for New Corporate Net Zero Standard

Microsoft Sources Renewable Energy from New U.S. Solar Projects in Texas, Illinois

Columbia Launches Masters Degree in Climate Finance

Saudi’s NEOM, DataVolt to Build $5 Billion Net Zero AI Data Center

Equinor Slashes Energy Transition Investment Plans

ESG Reporting

New Acting SEC Chair Questions Need for Climate Disclosure Rule

California Climate Reporting Law Survives Challenge Claiming that “Shaming” Companies Through Emissions Disclosure Violates Constitution

Government & Regulators

22 States Sue to Block New York Law Charging Oil Companies $75 Billion to Pay for Climate Adaptation

ESG Services and Tools

Ramboll, IBM Partner to Offer Sustainability Strategy and Reporting Solutions

Greenly Launches CBAM Solution to Help Identify Low Carbon Suppliers, Reduce Supply Chain Emissions

Arcadia Acquires Clean Energy Procurement Platform RPD Energy

Ecologi Acquires Carbon Measurement Solution Provider Net Zero Now

Salesforce, Partners Launch Energy Ratings for AI Models

Achilles Launches New Supply Chain Sustainability Reporting Solution

Sustainable Finance

Hydrostor Raises $200 Million to Store Energy Using Compressed Air Technology

Macquarie Exits the Net Zero Banking Alliance

Private Equity & Venture Capital

ACCURE Raises $16 Million to Scale AI-based Platform to Make Batteries Safer and More Reliable

Chestnut Raises $160 Million to Scale Farm-to-Forest Carbon Removal Projects

StormFisher Hydrogen Raises $50 Million to Produce Clean Fuels for Hard to Abate Sectors

Heat Pump Software Startup Nido Raises €5 Million

Sustainable Investing

Proxy Advisory Firm ISS Removes DEI Factors from Voting Recommendations for U.S. Boards

HSBC Acquires Stake in EV Charging Operator SP Mobility

Exec Moves

BlackRock Appoints Louise Kooy-Henckel as EMEA Head of Sustainable and Transition Solutions

Climate First Bank Appoints Chris Castro as Chief Sustainability Officer

HSBC Appoints Julian Wentzel as New Chief Sustainability Officer

Reports, Studies & Surveys

More than 80% of U.S. Board Directors Prefer Executives Stay Quiet on Social Issues: Report