ESG News Week In Review: 07 October – 13 October

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ESG NEWS SMART READ OF THE WEEK

Tim Mohin: Calls for Carbon Market Regulation Grow Amid Climate Disasters

With the 29th “Conference of the Parties” – (COP29, the global climate confab) – just around the corner, countries are planning to leverage the event to revive the beleaguered Voluntary Carbon Market (VCM).

Key Impact Points:

• Need for Regulation: COP29 will push for stricter national and global VCM regulations.
• Fraud Scandal Impact: Kenneth Newcombe’s indictment intensifies calls for VCM reform.
• Biden’s Global Plan: New U.S. guidelines aim to boost VCM integrity and fund climate action

Click here to view the full article

This?Smart Read?article is contributed by?Tim Mohin, Global Sustainability Leader, BCG . Every week ESG News delivers smart commentary from ESG practitioners and experts to unpack issues of the week. Submit your ESG Smart Read to?[email protected]

ESG AROUND THE WORLD

• Canada To Set Mandatory Climate Disclosure Criteria for Large Private Companies
• Canada To Launch New Sustainable Investment Taxonomy to Drive Net-Zero Progress
• Zara, H&M, Ikea and Primark to Launch Textile Waste Pilot Ahead of EU Regulations
• Deloitte Launches LEAP Dashboard to Boost Nature-Related Risk and Impact Management
• BP Revises Strategy: Abandons 2030 Production Cut Target to Focus on Oil and Gas
• High Court Blocks Plans for the UK’s First Deep Coal Mine in Over 30 Years
• Uber Launches AI Assistant Powered by OpenAI’s GPT-4o to Accelerate Electric Vehicle Transition

CLIMATE & ENERGY TRANSITION

• Colombia and Germany Explore Debt-for-Nature Swap to Fund $40 Billion Climate Transition
• Iberdrola to Invest $31 Billion in UK by 2028, Doubling Investment to Boost Grid and Renewables
• S&P Global Launches Climate Center to Advance Climate, Environmental and Nature Research
• Petrobras to Launch First Renewable Hydrogen Pilot Plant by 2026 with $90M Investment
• Google Secures 12-Year Renewable Energy Deal with energyRe for 435 MW Solar Project

And More…

SUSTAINABLE FINANCE

• UK Commits ￡21.7 Billion to Carbon Capture Despite Project Delays and Rising Costs
• Nuveen Green Capital, CDPQ Launch $600 Million Program for Sustainable Commercial Real Estate
• Goldman Sachs Invests $440M in BrightNight to Drive U.S. Renewable Energy Expansion
• Climate Investment Funds Launches $1 Billion Initiative for Industry Decarbonization
• Climate Bonds Initiative and EMF-ECBC’s New Partnership Aligns EU Covered Bonds with Sustainable Finance Goals
• IFC and Axis Bank Launch $500 Million Initiative for Sustainable Projects in India
• HSBC and Google Cloud Amplify Support for Climate Tech with $1bn Financing Initiative

And More…

CARBON MARKETS

• UK Commits ￡21.7 Billion to Carbon Capture Despite Project Delays and Rising Costs
• Fitch Warns Global Decarbonisation Efforts Lag, Driven by Emerging Markets
• Climate Investment Funds Launches $1 Billion Initiative for Industry Decarbonization

SUSTAINABILITY GOALS, INITIATIVES AND ACHIEVEMENTS

• Microsoft Expands AI Tools for Sustainability: What-If Analysis, Intelligent Insights, and Enhanced?ESG?Reporting
• Deloitte Denmark Aids Carlsberg Group in Navigating New ESG Legislation
• Morningstar Sustainalytics Enhances ESG Reporting Tools to Meet EU Regulatory Demands
• IFC and Axis Bank Launch $500 Million Initiative for Sustainable Projects in India
• Capgemini Expands Global Alliance with Sustaira to Drive AI-Enabled Sustainability Solutions
• Vistria Group Partners with Measurabl to Enhance Sustainable Real Estate Strategy

ESG INVESTING & FUNDS

• Canada To Launch New Sustainable Investment Taxonomy to Drive Net-Zero Progress
• Japan’s ESG Investments Surge as 311 Companies Join FTSE Blossom Japan Index: FTSE Russel Report
• S&P Global Launches Climate Center to Advance Climate, Environmental and Nature Research
• Fitch Warns Global Decarbonisation Efforts Lag, Driven by Emerging Markets

TECHNOLOGY, ESG TOOLS & SERVICES

• Deloitte Launches LEAP Dashboard to Boost Nature-Related Risk and Impact Management
• ACCA Launches Professional Diploma in Sustainability to Meet Growing Demand for Skills
• KPMG Unveils ESG Playbook to Empower Singapore Charities on Their ESG Journey
• Microsoft Expands AI Tools for Sustainability: What-If Analysis, Intelligent Insights, and Enhanced?ESG?Reporting
• Morningstar Sustainalytics Enhances ESG Reporting Tools to Meet EU Regulatory Demands