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ESG Sum is the free weekly newsletter that curates global sustainable financial news, moves and memes. Whether you’re a seasoned professional or preparing for your first interview in sustainable finance, subscribe and tap into the ESG grapevine at your desk or on the go.
Good morning,
This week has seen a big win for renewable energy as the G20 targets triple RE capacity by 2030 AND the EU agrees a new total RE consumption target of 42.5% also by 2030.
In other news Apple launches its first range of ‘carbon neutral’ products, UK defence minister claims ESG undermines defence industry , SFDR Article 8 & 9 could be scrapped under an upcoming EC consultation, California lawmakers pass groundbreaking greenhouse gas emissions disclosure bill and Kroll study shows stronger investment returns for companies with high ESG ratings.
Let’s go!
Chart of the week
For the first time, an international team of scientists is able to provide a detailed outline of planetary resilience by mapping out all nine boundary processes that define a safe operating space for humanity.
Six of nine planetary boundaries are being crossed, while simultaneously pressure in all boundary processes is increasing.
The new planetary boundaries assessment gives a basis for more systematic efforts to protect, recover and rebuild Earth resilience.
New boundaries have been introduced/quantified: Atmospheric Aerosol Loading, Novel Entities and Biosphere Integrity. The freshwater boundary now addresses both green and blue water.
The boundary for ozone depletion was exceeded in the 1990s but due global initiatives, catalyzed by the Montreal Protocol, this boundary is no longer transgressed.
Global Headlines
G20 targets tripling of global renewable energy capacity by 2030. read more
United to buy up to 1B gallons of sustainable aviation fuel. read more
Formula 1 Singapore Grand Prix pledges to halve energy emissions by 2028. read more
BP pulse powers UK’s largest EV charging hub. read more
Apple launches first carbon neutral products. read more
Nike pressured on wages allegedly owed to factory workers. read more
Shell signals retreat from carbon offsetting. read more
Euronext launches sustainable finance solutions. read more
Dutch police fire water cannons and detain 2,400 climate activists. read more
Chevron buys world's biggest hydrogen storage plant in Utah. read more
Ford to double F-150 hybrid pickup production as EV sales growth slows. read more
PRI extends 2023 reporting deadline. read more
Extreme Heat fast becoming a threat to global fuel security. read more
Asset Managers
Kroll Study shows stronger investment returns for companies with high ESG ratings. read more
BlackRock & SGX Group launch $426M climate action fund. read more
Gresham House launches International Sustainable Forestry Coalition. read more
Sustainable German funds gain €850bn. read more
Northern Trust launches digital carbon credit platform. read more
Asia investors embracing impact funds. read more
Robeco launches Article 9 climate high yield bonds fund. read more
BNP Paribas impact investing is set to overtake ESG integration. read more
CFA study flags greenwashing concerns in investment fund disclosures. read more
Climate Asset Management makes first Australian acquisition. read more
Asset Owners
P/C insurers lag on ESG asset management: Fidelity read more
Capital Markets
United States signs $20M debt swap agreement with Peru to support Amazon conservation. read more
EIB and Deutsche Bank cooperate to give mid-caps easier access to sustainable finance. read more
Houlihan Lokey launches sustainability advisory services practice. read more
Barclays seeks climate director after protests over fossil fuel finance. read more
Brazil readies first ESG bond issuance. read more
ECB ‘a more ambitious emission reduction targets lead to lower credit risk for banks’. read more
Alternatives
Ørsted enters its first UK solar Project. read more
Pertamina Geothermal in talks to buy KS Orka unit for up to $1B. read more
Bill Gates backed Breakthrough Energy Ventures pilots thermal energy storage battery. read more
Big Navajo Energy receives investment from Brown Venture Group. read more
Optera, ESG and carbon management software platform, raised $12M in Series A funding. read more
Bridgepoint adds $20bn energy infrastructure strategy to platform. read more
EIT InnoEnergy the Netherlands-based sustainable energy investor, raised over €140M in private funding. read more
UK social impact sector valued at £9.4B read more
Spiritus Raises, CA based climate tech company $11M in Series A funding. read more
PKA & Novo Holdings back €443M energy transition fund. read more
Politics & Regulation
Article 8 & 9 labels could be scrapped in upcoming SFDR consultation. read more
California lawmakers pass groundbreaking greenhouse gas emissions disclosure bill. read more
Efma raises concerns over EC’s ESG rating proposal. read more
African Union asks IMF for $650B for climate crisis. read more
UK pledges £1.6 billion for Green Climate Fund. read more
ECB stress test shows Faster green transition would benefit firms, households and banks. read more
EU lawmakers to raise renewable energy consumption target to 42.5% of by 2030. read more
UK’s Shapps claims ESG considerations risk undermining the defence industry. read more
Movers & Shakers
FN announces its ‘Fifty Most Influential in Sustainable Finance 2023’ read more
Pete Dunbar joins StepStone Group as RI Principal from PRI
PRI hires Aditya Vikram from Partners Group as new Head of Private Markets. read more
TILLIT expands investment committee with ESG hire. read more
Climate Asset Management appoints trio of independent directors. read more
Claudia Chapman joins State Street as EMEA stewardship head.
Chronos Sustainability expands team with 3 new research analysts. read more
Waleed Elgohary joins Apollo to lead EMEA climate equity investments. read more
Van Lanschot Kempen appoints new members to sustainable equity strategy team. read more
Podcasts, Papers & Events
ESG Meme Stocks
Starting in ESG in 2019 vs 2023…
