Weekly ESG Update 02/2025

Explore the latest product launches, regulatory developments and innovations in the area of Sustainable Finance and much more!

It is our pleasure to share the Sustainable Finance Daily Newsletter 02/2025?covering?events from January, 06 until January, 12 with you.

Biden Prohibits New Offshore Drilling on 625 Million Acres of U.S. Waters

President Joe Biden has issued new orders permanently banning oil and gas leasing across over 625 million acres of U.S. oceans, including the Atlantic coast, Eastern Gulf of Mexico, Pacific coast, and parts of Alaska’s Northern Bering Sea. The decision, aligned with Biden’s climate agenda, aims to protect coastal ecosystems while supporting long-term economic and environmental sustainability. Read more here.

PSF Proposes Updates to Simplify and Broaden EU Taxonomy

The Platform on Sustainable Finance (PSF), an expert group advising the European Commission, has proposed updates to the EU Taxonomy to simplify its criteria and expand the scope of activities it covers. The EU Taxonomy classifies economic activities that contribute to environmental objectives, such as climate change mitigation and biodiversity protection, while ensuring they “Do No Significant Harm” (DNSH) to other goals. The proposals focus on improving the usability of DNSH criteria and incorporating new activities, including digital solutions and the mining of lithium, nickel, and copper. Read more here.

Shareholders Urge Shell to Clarify LNG Growth Plans in Light of Net Zero Commitment

A group of institutional shareholders, including Brunel Pension Partnership and the Australasian Centre for Corporate Responsibility (ACCR), has filed a resolution urging Shell to explain how its plans to expand liquefied natural gas (LNG) production align with its net zero by 2050 goal. Shell’s updated “Energy Transition Strategy” projects a 20%-30% growth in LNG by 2030, but shareholders question its assumptions about future demand and the potential for value loss if demand falls short. Read more here.

Mars Unveils Segregated Cocoa Supply Chain as Part of Sustainability Efforts

Mars has announced a shift to a segregated global cocoa supply chain as part of its commitment to sustainable practices. This initiative builds on the company’s “Cocoa for Generations” strategy, backed by a $1 billion investment, which aims to support cocoa-growing communities and tackle environmental issues like deforestation. By 2028, Mars plans to achieve Net Zero emissions across its entire value chain by 2050, with a target to cut emissions by 50% by 2030. Read more here.

David Kennedy Named CEO of Science Based Targets Initiative

The Science Based Targets initiative (SBTi) has named David Kennedy, a veteran in climate action and sustainability, as its new CEO. Kennedy, known for his role as the founding Chief Executive of the UK’s Committee on Climate Change, brings extensive experience in advising governments and businesses on emissions reduction and sustainability strategies. His appointment follows a challenging year for the SBTi, including controversy over the role of carbon credits in corporate net-zero plans and the resignation of its previous CEO. Read more here.

AXA XL Appoints Katherine Gerber as Head of Energy Transition for Americas

AXA XL has named Katherine Gerber as Head of Energy Transition in the Americas, tasking her with leading energy underwriting strategies and supporting clients’ sustainability goals during the energy transition. Gerber brings extensive experience from Liberty Mutual Insurance, where she focused on energy transition risks and strategic operations. Donna Nadeau, AXA XL’s Head of Large Commercial, highlighted Gerber’s expertise in developing innovative solutions to address the complexities of renewable energy adoption. Read more here.

Optera and SPS Commerce Partner to Tackle Emissions in Supply Chains

Optera and SPS Commerce have launched the Retail Sustainability Collective, a solution designed to help retailers manage supply chain emissions. The initiative enables better data collection from suppliers, supporting more accurate measurements and progress toward decarbonization goals. Combining Optera’s expertise in emissions management with SPS Commerce’s 20 years of experience in retailer-supplier data exchange, the solution streamlines emissions reporting and supplier engagement. Read more here.

Achilles Acquires GRMS to Strengthen Supply Chain Sustainability

UK-based Achilles has acquired Global Risk Management Solutions (GRMS) to enhance its supply chain sustainability offerings and expand its presence in the US and Canada. Founded in 2010, GRMS provides customizable supplier risk assessment programs, helping companies proactively manage and monitor risks in areas such as compliance, financial stability, ESG, and decarbonization. Achilles sees the acquisition as part of its strategy to broaden its global reach and enhance its supply chain solutions portfolio, following its recent purchase of GoSupply. Read more here.

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Your Sustainable Finance Daily Team