2023-05-25

26 May INSIGHTS | Florida’s Latest Legislative Move Sparks National Conversation on ESG Policies

Posted at 14:44 by Alexander Olding

In one of the furthest-reaching efforts yet, on May 2nd, the Florida Governor signed into law a bill preventing state officials from investing public money to promote environmental, social and governance goals, and prohibiting ESG bond sales (1). Making its position clear on ESG and...

25 May Volvo Group Enters into Ten-Year Green Power Deal with Vattenfall

Posted at 10:26 by Jordy Leo

Swedish truck and bus maker Volvo Group [VOLVB:SS] has entered into a 10-year power purchase agreement (PPA) with Vattenfall AB, a Swedish state-owned renewables producer, as reported by Bloomberg on May 23. As per the agreement, Volvo will purchase 50% of the electricity generated by...

24 May California Requests Approval for Plan to Phase Out Gasoline Vehicles by 2035

Posted at 17:22 by Tracy Liu

California has submitted a request to the Biden administration to approve its groundbreaking plan that would require all new vehicles sold in the state by 2035 to be electric or plug-in electric hybrids, with the aim of phasing out gasoline-powered vehicles, as reported by Reuters...

24 May Britain Funds Landmark Amazon Rainforest Experiment to Study Carbon Dioxide Impact on Trees

Posted at 17:20 by Tracy Liu

The British government has announced new funding for a groundbreaking scientific endeavor in the Amazon rainforest in Brazil, as reported by Reuters on May 25. The project aims to study the effects of increasing carbon dioxide levels on trees. Foreign Secretary James Cleverley visited the...

24 May New Zealand to Spend USD188m on Decarbonizing the Nation’s Largest Steel Mill

Posted at 17:18 by Jordy Leo

The New Zealand government and New Zealand Steel (NZ Steel), the country’s major steelmaker owned by BlueScope Steel [BSL:AU], have announced a plan to invest NZD300m (USD188m) in reducing emissions from the Glenbrook steel plant, as reported by the Guardian on May 22. As part...

24 May US Court Orders American Airlines, JetBlue Airways to Terminate Alliance

Posted at 17:16 by Jordy Leo

A federal judge in Boston has issued a ruling stating that American Airlines [AAL:US] and JetBlue Airways [JBLU:US] must terminate their partnership in the northeast United States within 30 days, as the government proved the deal reduces competition in the airline industry, as reported by Reuters on...

24 May Meta Hit with Record Fine and Data Transfer Suspension by EU Privacy Regulator

Posted at 17:13 by Tracy Liu

Meta [META:US], the parent company of Facebook [FB:US], has been hit with a historic EUR1.2bn (USD1.3bn) fine by the Data Protection Commissioner (DPC) in Ireland, the leading privacy regulator in the European Union. The fine was imposed due to Meta's mishandling of user data and...

24 May NTT, JERA to Acquire Japan’s Industry-Leading Wind Power Developer GPI

Posted at 11:14 by Jordy Leo

Nippon Telegraph and Telephone Corp (NTT) [9432:JP] and JERA, Japan’s largest power generation company, have reached an agreement to jointly purchase a 99% stake in Green Power Investment (GPI), a Tokyo-based renewable energy firm, for approximately JPY300bn (USD2.18bn), as reported by Nikkei Asia on May...

24 May UK Issues First Round of Licenses for Offshore Carbon Storage

Posted at 11:06 by Jordy Leo

The North Sea Transition Authority (NSTA), which oversees the exploration and development of the UK’s oil and gas resources, has granted 20 licenses to 12 companies for developing offshore carbon dioxide (CO2) storage, as reported by the Financial Times on May 19. This marks the...

23 May G7 Nations Pledge to Transform Road Sector Towards Decarbonization and Net-Zero Emissions

Posted at 10:06 by Tracy Liu

The G7 nations have reaffirmed their commitment to achieving a highly decarbonized road sector by 2030 and net-zero emissions on roads by 2050, as reported by Reuters on May 20. They outlined various actions, including policies to promote the widespread adoption of zero-emission vehicles, aiming...

23 May California Approves USD7.3bn Plan for Power Transmission Projects

Posted at 10:05 by Tracy Liu

California's electric grid operator has given the green light to a USD7.3bn plan for 45 power transmission projects to be implemented over the next ten years, facilitating the connection of new power plants in high-priority regions to the grid, as reported by Reuters on May...