Weekly Sustainable Finance Newsletter 47/2024

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 47/2024?covering?November, 18 until November, 24 with you.

Sustainability Forum Middle East (SFME)

We are delighted to invite you and your team members to register for the third edition of Sustainability Forum Middle East (SFME), set to take place on January 28-29, 2025, at the Crowne Plaza, Manama, Kingdom of Bahrain, in the presence of H.E. Dr. Mohamed bin Mubarak Bin Daina, Minister of Oil and Environment and Special Envoy for Climate Affairs, with the support of Supreme Council for Environment of Bahrain.

Focused on?“Mobilizing Action and Investment for Climate and Energy Resilience,”?the Forum will gather more than 400 business leaders, sustainability experts, and changemakers from the region and beyond to address topics critical to MENA’s transition to a low-carbon future.

The two-day event will feature high-level panels and keynote addresses from cross-sector executives across both public and private sectors, along with networking opportunities and a full day of Expert-Led Workshops dedicated to skills development and hands-on learning. In collaboration with global management consultancies and leading sustainability specialists, SFME will offer several interactive workshops designed to help attendees develop and refine strategies to launch, accelerate, and report on their organization’s net-zero journey – this includes workshops from KPMG, Anthesis Group and Environment Arabia, among others. Once registered, participants will have access to all workshops on January 28 and the full Forum programme on January 29, 2025.

Don’t miss this opportunity to join a premier gathering of business leaders and sustainability advocates and experts.?Please use this coupon to get 20% discount “Media”.Register now:?https://sustainmideast.com/registration/

Register here.

Amundi launches Global ESG Factor ETF range

Amundi, Europe’s leading asset manager, has expanded its suite of sustainable investment solutions by introducing a new range of Global ESG Factor Exchange-Traded Funds (ETFs). This initiative aligns with the growing investor demand for products that integrate environmental, social, and governance (ESG) considerations with factor-based investment strategies. Read more here.

IBM Unveils Maximo Renewables to Optimize Renewable Energy Assets

IBM has launched Maximo Renewables, a solution designed to help companies manage and optimize renewable energy assets. The platform offers predictive maintenance, performance monitoring, and actionable insights to address challenges like asset complexity, high operating costs, and efficiency losses. Key features include a Map View for real-time portfolio performance, custom dashboards, and automated workflows for identifying and addressing underperformance. Read more here.

Alfa Laval Accelerates Net Zero Target to 2027

Alfa Laval has advanced its net zero goal for scope 1 and 2 emissions to 2027, three years earlier than planned, with a 50% reduction in scope 3 emissions also targeted by then. Announced at its Capital Markets Day in Italy, this update builds on its 2019 commitment to carbon neutrality by 2030 and net zero by 2050. Backed by investments in energy efficiency and renewable energy, the company is exceeding its targets. Read more here.

Société Generale Sets €500 Billion Sustainable Finance Goal for 2030

Société Generale has surpassed its €300 billion sustainable finance goal for 2020-2025 and set a new target of €500 billion for 2024-2030. The new goal includes €400 billion in financing and advisory and €100 billion in sustainable bonds, with 80% dedicated to environmental activities and 20% to social initiatives. Read more here.

EU Adopts Regulation Banning Products Linked to Forced Labor

The EU Council has adopted a regulation prohibiting products made with forced labor from being sold or exported within the EU. The legislation, initially proposed in 2022, empowers customs and national authorities to investigate and remove such products, covering both domestic and imported goods. Read more here.

EU Regulators Urge Banks and Investors to Address Climate Risks Post "Fit-for-55" Stress Test

The EU’s financial regulators have released the “Fit-for-55” climate stress test results, assessing the financial sector’s resilience to the low-carbon transition. While transition risks alone are unlikely to destabilize the system, severe scenarios—like a sudden selloff of carbon-intensive assets—could lead to losses of up to €5.1 trillion, with investment funds being the most affected. Read more here.

Quinbrook Names Hilkka Komulainen Global Head of Sustainability

Quinbrook Infrastructure Partners has appointed Hilkka Komulainen as its new Global Head of Sustainability and Impact, succeeding Anne Foster. Komulainen will oversee sustainability initiatives across all Quinbrook funds and regions. Previously, she led responsible investment at Aegon UK and held leadership roles at Inter Fund Management, EY, the OECD, and the United Nations, contributing to ESG best practices. Read more here.

Starbucks Names Marika McCauley Sine as New Chief Sustainability Officer

Starbucks has appointed Marika McCauley Sine as its new Chief Sustainability Officer, succeeding Michael Kobori, who will retire at the end of 2024. McCauley Sine brings extensive experience from her nearly 10 years at Mars, where she most recently served as Chief Sustainability Officer at Mars Petcare, focusing on climate action, sustainable sourcing, and circular packaging. Read more here.

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If you have any feedback or you see an opportunity for a collaboration, please feel free to reach out to us via mail ([email protected]) at any time.

Your Sustainable Finance Daily Team