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million over ESG investing claims; IAASB releases first sustainability reporting assurance standards; EU lawmakers delay supplychain deforestation law; Shell wins appeal against landmark climate ruling; CDP strengthens alignment of sustainability reporting platform with GRI, EU standards; IKEA invests $1.6
Drastic changes to the scope of sustainability reporting rules will limit investor access to comparable and reliable sustainability data, said Aleksandra Palinska, executive director at the European SustainableInvestment Forum, Europes umbrella network for sustainable finance, in a press release.
The new fund is launching with $400 million in commitments at its first close, with initial investors including Toyota Motor Corporation, Iwatani Corporation, Sumitomo Mitsui Banking Corporation, MUFG Bank, Tokyo Century Corporation, Japan GreenInvestment Corp. for Carbon Neutrality, and the Bank of Fukuoka.
In addition to the financing, suppliers in the program will also receive technical support from sustainability consultant, Guidehouse, to embark on factory upgrades to decrease their climate impact. According to H&M’s 2022 Sustainability Report, Scope 3 makes up nearly 99% of the company’s emissions.
The rise of taxonomies of sustainable activities reflects a recognition from policymakers that global financial markets depend on a shared classification system if they are to identify ‘green’ investment opportunities. This dark green superhighway would run across all taxonomies.
“To protect the UK’s competitive advantage as the world’s largest net exporter of financial services, purposeful and predictable sustainable finance policy is fundamental, and can help position the country’s financial services as a global leader in greeninvestment,” says Shipra Gupta, Investments Stewardship Lead at Scottish Widows, a signatory of (..)
While most of these firms are located in the United States, there are some serious players in Africa and Europe leads in terms of PE support for standards of responsible and sustainableinvestments. billion to invest in companies that provide solutions to environmental or social challenges.
A “fuller response” to the IRA and NZIA would have ensured the UK went beyond building net zero infrastructure, maximising benefits from the supplychains of such infrastructure, “both economically and socially”, Serin told ESG Investor.
“It’s an unparalleled and historic piece of climate legislation that’s likely to be a significant catalyst for driving investment into the country’s [net zero] transition for years to come,” says Nikita Singhal, Co-Head of SustainableInvestment and ESG at Lazard Asset Management. US-based FirstSolar is investing US$1.2
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