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The pullback threatens to erode years of progress, which has made Europe the leading market for sustainable funds , greenbonds and other responsible investments, and jeopardizes the capital needed for the EUs ambitious climate goals. Supplychain audits will be required once every five years rather than annually.
The extension will see $6 million more invested through 2026, initially in the Dominican Republic, Ecuador and Guatemala. Because we're Scope 3, it's got to be across your whole supplychain. And then we're going to take that money, and we're going to deploy it with a third party into our supplychain.
This week in ESG news: EU adopts new law against greenwashing; Walmart reaches 1 billion ton supplychain emissions reduction milestone; S&P forecasts $1 trillion sustainable bond market in 2024; Airbus, TotalEnergies launch sustainable aviation fuel partnership; Verizon invests $1 billion in renewable energy; EU lawmakers agree to certification (..)
Wong also highlighted the importance of developing green finance in order to channel the trillions of dollars in capital necessary to facilitate the low carbon transition. Other initiatives highlighted by the Deputy PM included raising the carbon tax and new public sector commitments.
The firm claims it is on track to using more than 50% certified renewable resin by 2026, on the path to being fossil fuel-free by 2032. But with solar and wind accounting for only around a seventh of domestic electricity generation – those SGS loans are going to be needed across the country’s power supplychains.
In related news, NatWest Group issued this week the first bond by a UK bank dedicated to financing and re-financing electric vehicles (EV), raising net proceeds of €750 million (US$811.4 The EV GreenBond originated from the group’s asset finance arm – Lombard.
Australia introduced a Modern Slavery Act in 2018, requiring reporting from corporates and investors on slavery preven tion in their supplychains. Graham says at an ASFI event in December the Australia’s Treasurer Jim Chalmers announced a sweeping sustainable finance agenda.
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