Weekly Sustainability Notice 10-16 April

World:

IMF chief, climate leaders pledge to accelerate public-private finance (Source )

International Monetary Fund Managing Director Kristalina Georgieva and UN and COP28 climate leaders on Tuesday pledged to work to accelerate public-private finance to help raise the trillions of dollars needed to meet emissions reduction goals, a statement issued by the IMF said.

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Miami and New Orleans face greater sea-level threat than already feared (Source )

Coastal cities in the southern US, including Miami, Houston and New Orleans, are in even greater peril from?sea-level rise ?than scientists already feared, according to new analysis.

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Rich countries and India should cut a climate pact (Source )

Helping India grow in a green way is one of the best things that could happen for its people and the planet. Emissions from the world’s most populous country are only?7% ?of greenhouse gases but are growing fast while those produced by rich countries have largely peaked.

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Pollution choking Thailand's north hits tourism, worries public (Source )

High pollution levels in Thailand's northern city of Chiang Mai and surrounding provinces are keeping tourists away and alarming locals, with the government on Monday urging residents to avoid outdoor activities.

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Low-carbon electricity expected to cover new power demand in 2023 (Source )

A surge of clean electricity is set to cover new power demand globally this year, bringing within reach the Paris-aligned sustainable energy goals set by the International Energy Agency.?

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Global executives say greenwashing remains rife (Source )

Most global executives think greenwashing is widespread in their industry, and despite customers becoming more vocal about preferring sustainable brands, many companies are cutting corners on their environmental, social and corporate governance initiatives.?

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Drought will cause crop failures in Spain, farmers warn (Source )

Drought now affects 60% of the Spanish countryside, with crops like wheat and barley likely to fail entirely in four regions, the main Spanish farmers’ association said on Thursday.

Business:

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ISSB gives companies an extra year on general sustainability reporting to allow focus on climate disclosure (Source )

Companies reporting under the new climate disclosure standards being developed by the International Sustainability Standards Board (ISSB) of the IFRS Foundation will be given an additional year to provide disclosure on some sustainability-related risks, in order to enable them to first focus on climate-related reporting, according to an announcement by the ISSB following its most recent meeting.

EU Regulators propose changes to sustainable finance disclosure rules (Source )

Europe’s three primary financial regulatory agencies, the European Supervisory Authorities (ESAs), announced on Wednesday a series of proposed amendments aimed at extending and simplifying the EU’s Sustainable Finance Disclosure Regulation (SFDR). Proposals include the addition of information regarding the decarbonization targets of financial products, and the inclusion of a dashboard providing information about products’ sustainable and taxonomy-aligned investment.

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EU Commission approves €158 million to support LOTOS Green H2 in the production of renewable hydrogen (Source )

The European Commission has approved, under EU State aid rules, a €158 million Polish measure to support LOTOS Green H2 sp. z o.o, a special purpose vehicle ultimately owned by PKN Orlen SA, in the production of renewable hydrogen to be used in the refinery production processes.

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Biden unveils strict vehicle emissions standards to drive clean transportation transition (Source )

The Biden administration on Wednesday unveiled a series of strict vehicle emissions standards anticipated to reduce greenhouse gas emissions (GHG) from the transport sector by billions of tons over the coming decades, and to accelerate the transition to electric vehicles.

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Apple targets 100% recycled cobalt in batteries by 2025 (Source )

Apple announced a series of sustainable material goals for its products, including a new target to use 100% recycled cobalt in batteries by 2025, up from around 25% in 2022.

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Apple launches $200 million carbon removal fund (Source )

Apple announced a commitment of up to $200 million for the launch of a new fund aimed at supporting carbon removal projects, with goals to remove 1 million metric tons of carbon dioxide per year, while generating a financial return for investors.

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Sustainalytics launches ratings to assess companies’ low carbon transition alignment (Source )

ESG ratings, data, and research provider Morningstar Sustainalytics announced today the launch of its Low Carbon Transition Ratings, aimed at providing investors with an assessment of a company’s alignment with a net zero pathway, based on an evaluation of its strategy and actions as well as scenario analysis.

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Climate solutions platform Watershed acquires carbon data provider Vitalmetrics (Source )

Climate solutions software provider Watershed announced today the acquisition of environmental database provider VitalMetrics, in a move the company said will enable its customers to measure emissions with global coverage and granularity, and to meet increasing verification and audit standards.

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Startup Allotrope raises $6.7 million to make batteries from trees (Source )

Battery materials developer Allotrope Energy has raised $6.7 million through an investment from Suzano Ventures, aimed at progressing the company’s technology to produce high-rate battery materials from biomaterials such as wood.