ESG Round-up Jan

Happy New Year and welcome to the first ESG round up of 2024!??

This bulletin is your one-stop-shop update on the most significant news in the world of ESG and sustainability. We hope that you find our round up a useful and entertaining read.?

Happy reading!??

Best regards,?

Team Social??

Social’s Impact Chat?

We have been?fortunate to host a fantastic array of speakers during our Social’s Impact Chat sessions, which offer a window into the world of ESG, sustainability and impact investing through conversations with leading thinkers and players. Each speaker generously shared their valuable insights, offering perspectives on the big picture and various industries and sectors they represent – with a particular focus on the UK built environment.

Starting the year as we mean to go on our first?Impact Chat of 2024 is with Simon Hodson, Head of Sustainability - Residential & Living, Capital Markets UK, JLL, on Wednesday 31st January 2024 at 12:00pm.??

Come and listen to a fresh perspective on the housing scenario in London, focusing on dimensions of scale and sustainability. The talk will delve into the impact of innovative investment models, private capital and partnerships, highlighting the potential for local authorities to take the lead in driving sustainable regeneration.?

Reserve your virtual seat here!?

ESG: built environment focus – our top 5

Here’s our pick of the top stories from the last few weeks in the built environment.?

1. ‘I’m a student with ￡20k in savings – can sustainable investments buy me a ￡300k house?’: This article explores the challenges and potential benefits of incorporating ethical and sustainable investment strategies, such as investing in properties. It also provides insights into the intersection of personal finance, sustainability, and real estate aspirations, offering a thoughtful examination of the possibilities and considerations for young investors.?

1. Consultation opens on new Future Homes Standard: The proposed new Future Homes Standard aims to enhance energy efficiency and reduce carbon emissions in new homes, aligning with the government's commitment to reach net-zero carbon by 2050. Stakeholders are being asked to provide input to shape future regulations to create more sustainable and environmentally friendly housing in the UK.?

1. Government announces extra ￡1.25bn for Social Housing Decarbonisation Fund: The government has allocated an extra ￡1.25bn to the Social Housing Decarbonisation Fund, along with an extra ￡1.5bn for its heat pump upgrade scheme.?

1. What is greenhouse gas emissions data telling us about the social housing sector?:? More social landlords are reporting on their greenhouse gas emissions. Even with the sector making progress, more work is needed to ensure the data is comparable and accurate. This article also underscores the importance of understanding emissions trends to inform effective strategies for achieving sustainability goals within the social housing sector.?

1. NatWest has partnered with the Supply Chain Sustainability School to launch a new retrofit training programme: 29 million homes need to be retrofitted to enable the UK to hit its 2050 carbon emissions targets, so this partnership between NatWest and the Supply Chain Sustainability School will provide the required knowledge and skills for supply chains and the wider industry in retrofit for free.

ESG: the bigger picture – our top 5

Throughout 2024, we are expecting to see continued debate around the future of ESG, sustainability and responsible business – and hopefully a little less hyperbole and a little more thoughtful insight on how each are shaping the future of business and finance.??

1. White paper examines current state of ESG activity and backlash around the globe: A Thomson Reuters Institute’s white paper, “ESG: Navigating past the noise”, looks at the current state of play around ESG activity among organizations, politicians, and regulators across the globe. The paper outlines the latest regulatory developments and hurdles that organisations are facing as they navigate through ESG. It also shows that many companies are rising to the challenge by recognizing their fiduciary duties to shareholders, employees, and other stakeholders.?

1. In France, corporate directors can now go to jail for not complying with CSRD: France is the first country to set penalties for non-compliance with the EU Corporate Sustainability Reporting Directive (CSRD), with fines of up to €75,000 and jail time for corporate directors that fail to comply. It will be interesting to see how other EU countries will transpose CSRD into their national law.??

1. BlackRock lawsuit recognises the importance of ESG in the US: The lawsuit against BlackRock, emphasises its significance in recognising the importance of ESG factors in the US. The legal action stresses the growing influence and responsibility of major financial institutions in promoting sustainable and ethical practices, reflecting a broader trend towards ESG integration in investment strategies.?

1. SFDR review responses: Go further with mandatory disclosures and formalise fund labelling: After a recent review, there was clear criticism that many Article 8 and 9 funds – considered the ‘greenest’ of the classifications – were significantly exposed to fossil fuel expansion and/or not aligned with the EU taxonomy, leading to claims of greenwashing.?

1. Germany Hits 70-Year Low in CO? Emissions, Agora Energiewende Study Reveals: Germany’s CO? emissions fell to their lowest level in 70 years in 2023, however, a large reason for this is due to an unexpectedly sharp decline in coal use. It is said, that to achieve lasting emissions cuts like this, Germany must close gaps in its climate policies in 2024 – particularly in the transport and buildings sectors. This will be a country to watch…?

1. European Council Sets Path for Enhanced Transparency in ESG Ratings: The Council has finalised its negotiating mandate regarding a proposal for a regulation on ESG ratings; it aims to boost investor confidence in sustainable products.

Thank you for reading!

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