The French Financial Markets Authority (AMF) has called on the European Union (EU) to tighten rules on labeling sustainable investment funds to prevent greenwashing, as reported by Reuters on February 13. Under the EU’s Sustainable Finance Disclosure Regulation (SFDR) effective from January 2023, sustainable funds that “promote...
Exxon Mobil [XOM:US] is quietly switching its focus from developing algae biofuel to other green initiatives, after bragging about its efforts to produce environmentally friendly fuels from algae for over a decade, as reported by Bloomberg on February 10. Exxon has slashed its funding for...
Brazil’s Finance Ministry revealed that the country is in talks with Mexico, Germany, Colombia, and Chile about setting up a framework to issue environmental, social, and governance (ESG) bonds, as reported by Reuters on February 10. The four states consulted by Brazil have all issued...
European Union (EU) leaders have agreed to allow “targeted, temporary, and proportionate" support to ensure Europe's future as a manufacturing hub for green tech products and to counter competition from the US and China, as reported by Reuters on February 10. Specifically, the European Commission...
European Union lawmakers have approved a plan to ban the sale of new petrol and diesel cars by 2035 as part of a wider package of climate measures, as reported by Reuters on February 14. The decision aims to accelerate the transition to electric vehicles,...
Itochu Corporation [8001:JP], a Japanese trading company, has signed a contract to supply renewable energy to Meta Platforms [META:US] in the US and Amazon [AMZN:US] in Japan starting from 2023, as reported by Nikkei Asia on February 14. Itochu will provide wind power to Meta...
The US Environmental Protection Agency (EPA) has announced that the Biden-Harris administration will allocate an additional USD1bn for the Superfund cleanups, as reported by Reuters on February 10. This additional funding will support the cleaning up of toxic waste sites across the country and will...
Italy is set to sign a contract for the purchase of natural gas turbines from Azerbaijan in 2023, as reported by Reuters on February 11. The agreement will include the delivery of multiple units to be used for power generation in Italy. The deal is...
Greenpeace has announced plans to sue the European Union over its "green label" for gas and nuclear energy, as reported by Reuters on February 9. The environmental organization argues that the EU's labeling system, which is intended to promote sustainability, is misleading and gives false...
Video game development and publishing company Activision Blizzard [ATVI:US] agreed to pay USD35m to settle charges of failing to have systems in place to properly handle disclosures of employee complaints and violating whistleblower protection rules, according to the US Securities and Exchange Commission (SEC) website,...
British energy giant BP [BP:LN] announced an overhauled budget plan to invest USD8bn more in oil and gas businesses by 2030, while reiterating its pledge to equally divide its spending by 2030 between its oil and gas and energy transition businesses, as reported by Reuters...
Germany’s GLS Bank [UIGLSAB:GR] has quit the world’s largest climate-finance alliance, Net-Zero Banking Alliance (NZBA), in protest at the continued investments in fossil fuels by some group members from the US, as reported by Bloomberg on February 6. According to GLS, it noted that some...
The US and Brazil have joined forces with India to increase demand for biofuels as a means of reducing dependence on fossil fuels and mitigating the impact of climate change, as reported by Bloomberg on February 5. The three countries, which are some of the...
Eight funds have been found to have breached European Union sustainability rules by the Danish Financial Supervisory Authority (FSA), as reported by Reuters on February 6. The FSA conducted an investigation into 87 funds in Denmark and found that the eight in question had invested...
Shell [SHEL:US], a multinational oil and gas company, is facing allegations of greenwashing by, Follow This, a climate advocacy group, as reported by Bloomberg on February 1. The group has filed a complaint with the U.S. Securities and Exchange Commission (SEC), claiming that Shell has...
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