ESG Today: Week in Review
This week in ESG news: ECB gives banks until 2024 to deal with climate risk; ISSB to require climate scenario analysis in new reporting standard; Nasdaq commits to 95% Scope 3 emissions reduction; Honeywell says 90% of companies increasing environmental sustainability budgets; Amazon invests in women-led climate tech; Vanguard launches climate transition-focused fund; Google sources 1 GW of renewable energy; Deloitte says 800 million jobs exposed to climate risk; capital raises for Scope 3 measurement solutions, climate tech funds, distributed solar; Singapore raises climate goals ahead of COP27; fewer than 10% of companies on track to hit climate goals; $4.3 trillion in listed debt exposed to environmental risk, 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
Nasdaq Commits to Reduce Scope 3 Emissions 95% by 2050
Amazon Commits $50 Million to Invest in Women-led Climate Tech Companies
McKinsey Launches Council Focused on Decarbonizing the Built Environment
Oxy Sources Land to Store up to 3 Billion Tons of Captured Carbon
Government & Regulators
ECB Gives Banks Deadlines to Manage Climate and Environmental Risks
EU Commits €3 Billion to Invest in Energy & Industrial Decarbonization Projects
Singapore to Ramp Climate Goals at COP27, Launches National Hydrogen Strategy
ESG Reporting & Disclosure
ISSB to Require Climate-related Scenario Analysis Under IFRS’ Climate Disclosure Standard
Guest Post: Private Companies are Facing a New Era of Climate Transparency
ESG Services and Tools
Building Intelligence Company Infogrid Acquires ESG Analytics Provider Aquicore
ESG Investing
Vanguard Launches Fund Investing in Low-Carbon Transition Opportunities
LeapFrog Investments Launches Climate Mitigation & Adaptation Investment Strategy
BlackRock to Begin Extending Voting Choice to Individual Investors
Orchard Street Ties Fees on New Impact Fund to Performance on Sustainability Objectives
Nuveen Launches Global Timberland Strategy Targeting Natural Climate Solutions
Bloomberg Launches Suite of Indices Tracking Green, Social & Sustainability Bonds
Sustainable Finance
PIMCO Calls for More Ambitious, Material Goals for Sustainability-Linked Bonds
Global $100 Billion Climate Finance Goal Expected to be Met in 2023: Report
Guest Post: Gaining Specialist Clarity on ESG in Fixed Income
Private Equity & Venture Capital
Carlyle Invests $350 Million in Distributed Solar & Storage Platform Aspen Power
Supply Chain Visibility Platform project44 Raises $80 Million to Build Scope 3 Measurement System
BDC Launches $400 Million Climate Tech Fund
Energy Transition
Google Sources Nearly 1 GW of Solar Energy from SoftBank’s Renewables Platform
Equinor Acquires Solar Developer BeGreen
Macquarie Acquires 140 GWh Bioenergy Portfolio from BayWa r.e.
Exec Moves
L Catterton Appoints Tehmina Haider and Michael O’Leary to Lead New Impact Investing Strategy
Reports, Studies & Surveys
Moody’s: Debt Exposed to High Environmental Credit Risk Rises to $4.3 Trillion
Accenture: Less than One in Ten Companies on Track to Hit Climate Goals, but Momentum is Building