FINPUBLICA ESG NEWS YOU CAN USE: NOVEMBER 21, 2023

Save the Date: Giving Tuesday

On Tuesday, November 28th,? donors across the world will come together to give back on Giving Tuesday. ?Finpublica is a part of this global movement for generosity, and we need your support to continue our work.? Your donation is more than a contribution; it’s the spark for change that empowers our mission to build a sustainable future.? Please save the date for November 28th. Your generosity will help transform our organization as we work to support both the current and next generation of sustainable finance leaders and allow us to continue providing open-source education, tools, and research so anyone can quickly and easily get up to speed on the environmental, social, and governance issues in which they are most interested.? Want to participate early? ?Donations are open today,?and all contributions will count toward our Giving Tuesday goals!? From all of us at Finpublica, we extend our sincere gratitude for your support and being part of our community.?

Environmental

A recent report from MSCI reveals that the pace of decarbonization by global listed companies is expected to slow this decade, while the pace of their respective home countries is set to accelerate.??Over half of listed companies are on track to keep warming below 2°C and nearly one quarter are set to align with a 1.5°C temperature rise.? Additionally, 13 countries in G20 are expected to increase their pace of decarbonization during the decade – up to an average of 4.5% a year (compared to less than 1% per year during the five years following the Paris Agreement).

A Canadian emissions monitoring company launched a satellite that for the first time can detect carbon dioxide emissions from individual facilities like coal plants and steel mills from space.??The data from GHGSAT will increase the accuracy of government emissions inventories, scientific modeling, and investor information on corporate GHG reporting and will be available for sale to industrial emitters, governments, and scientists.?

Social

According to the European Commission, women in the EU get paid on average 13% less than men doing the same job.? Although equal pay for equal work is part of EU law, progress to eliminate the gender pay gap was nearly nonexistent this year and has been slow over the past several years.? In early June, the Commission issued a Pay Transparency Directive that sets a framework for how to apply the idea of “work of equal value” and comparison criteria.? The directive’s goal is to help workers identify and challenge pay discrimination.

All healthcare facilities in poorer countries could be electrified using solar energy within five years?for less than $5 billion,?according to experts who will be presenting at COP28.? About one billion people around the world do not have access to a healthcare facility with stable electricity, including more than 400 million people who depend on facilities with no electricity at all.? Electricity is essential for powering devices like ventilators or cardiac monitors and providing basic amenities such as lighting.?

Regulation & Reporting

The New York attorney general sued PepsiCo for allegedly endangering the environment and misleading the public about its goals to stop single use plastic in its packaging.??According to the lawsuit, nearly 20% of the plastic along the Buffalo River was from PepsiCo products. The lawsuit is seeking damages and asking the court to order PepsiCo to develop a plan to keep its plastic out of the Buffalo River.

Investing

With the release of the U.S.’s Fifth National Climate Assessment (NCA5), President Biden announced more than $6 billion in investments?directed at increasing climate resilience in the U.S., focusing on areas including electric grid infrastructure, minimizing flood risk, improving drought resistance, and improving clean energy deployment and climate justice efforts at the community level.? About $4 billion of the new investments are allocated to strengthen and modernize the electric grid.?

Brazil just sold its first sustainable bond, which aims to support the government’s environmental and social agendas.? The country priced $2 billion in bonds due in 2031 with a 6.5% yield; investors put in orders for almost $6 billion.? The proceeds of the notes will go towards green and social projects under Brazil’s new framework for sustainable bonds and is an early step to catch up to ESG bond programs in other emerging markets like Chile and Mexico.?

According to a new report, climate tech companies raised $16.6 billion in the third quarter of 2023.??BloombergNEF’s report found that funding from venture capitalists and private equity firms for such projects increased more than 60% from the second quarter, despite a general fear of an investment downturn. ?Among the different sectors of climate tech, energy received the most funding, while companies focused on decarbonizing heavy industry saw the greatest growth in investments. ?

Resources & Membership

Click here for a video replay of the November 1, 2023 Finpublica and Wall Street Block Chain Alliance panel regarding the intersection of ESG and blockchain.??Learn more about how blockchain is being used to balance the energy grid, mint carbon credits, measure GHG, and more.

You can watch (or rewatch) Finpublica and The ESG Exchange’s panel on Fulfilling Fiduciary Experts While Embracing ESG by clicking here.?Our global panel of experts, including Delaware State Treasurer Colleen Davis, Columbia Business School Professor Shiva Rajgopal, Paul Lee (Head of Stewardship at Redington), and Fiona Darroch (Director of Law at Protimos), explored fiduciary duties across jurisdictions and how ESG investing is consistent with (and in some cases even required by) those duties.

Finpublica’s?membership portal?is live. If you are interested in joining a community of 250 global leaders focused on sustainable finance and ways to implement environmental, social, and governance initiatives inside their organizations and across the industry, we invite you to apply.?