The Biden-Harris Administration has finalized a new EPA rule to strengthen methane emissions reporting for the oil and gas sector, mandated by the Inflation Reduction Act. This rule aims to improve transparency and accountability by using advanced technologies such as satellite data to identify and quantify emissions accurately. This initiative is part of a broader…

The London Metal Exchange (LME) is set to require aluminium producers to submit verified carbon emission data by 2025. This initiative, aligned with the EU’s Carbon Border Adjustment Mechanism (CBAM), aims to mitigate carbon leakage and ensure that imported goods incur comparable carbon costs to those paid by EU domestic producers. This requirement will leverage…

The UK High Court has ruled that Britain's Carbon Budget Delivery Plan (CBDP) is unlawful due to its lack of clarity and unrealistic assumptions. The plan, which aims to reduce emissions by over two-thirds of 1990 levels by 2030 and achieve net zero by 2050, was criticized for being vague and not accounting for potential…

The Council has officially approved a directive amending the Corporate Sustainability Reporting Directive (CSRD), granting a two-year delay in the adoption of sustainability reporting standards for specific sectors and non-EU companies. This decision, aimed at easing the reporting burden, will postpone the implementation of sector-specific and general sustainability reporting standards to June 30, 2026. The…

The International Sustainability Standards Board (ISSB) has introduced the IFRS Sustainability Disclosure Taxonomy, an essential tool aimed at enhancing the transparency and comparability of sustainability-related financial disclosures. This initiative supports the global effort to integrate sustainability metrics into mainstream financial reporting, offering a standardized framework for companies to disclose their ESG (Environmental, Social, and Governance)…

A new report by the Centre for Research on Energy and Clean Air (CREA) reveals that China has fallen short of its air quality targets, prioritizing economic growth over environmental concerns. Nearly half of the targeted cities missed PM2.5 reduction goals in late 2023 and early 2024. Henan province, particularly the Beijing region, saw some…

A PwC report has revealed that over 70% of critical minerals essential for the net zero transition, such as copper, cobalt, and lithium, could face significant drought risks by 2050 under a high emissions scenario. The study highlights that even under a low emissions scenario, significant portions of the production of these minerals and key…

EU member states in the European Council have greenlit a directive deferring the adoption of standards for sector-specific sustainability disclosures and sustainability reporting from companies outside the EU under the Corporate Sustainability Reporting Directive (CSRD). This decision, which follows the European Parliament's earlier approval, finalizes the postponement of the European Sustainability Reporting Standards (ESRS) for…

The European Commission has initiated action against 20 airlines in collaboration with EU consumer authorities, targeting misleading greenwashing practices regarding CO2 emissions offsetting claims. Airlines have been urged to align their practices with EU consumer law or face potential enforcement actions, including sanctions. This move follows a complaint by the European Consumer Organisation (BEUC) and…

Honda has unveiled plans to construct a robust electric vehicle (EV) value chain in Ontario, Canada, as part of its strategy to bolster its EV supply system in anticipation of growing EV demand in North America. This initiative entails an estimated investment of CAD$15 billion (USD$11 billion), inclusive of contributions from joint venture partners. Jean…

The Canadian Government has unveiled its new Federal Plastics Registry, mandating plastic producers to report on the quantity and type of plastic they introduce into the Canadian market, aiming to track plastic throughout its lifecycle in the economy, from production to disposal. This initiative aligns with Canada’s zero plastic waste agenda, addressing the nation’s significant…

Lawmakers in the European Parliament have overwhelmingly approved the Net-Zero Industry Act (NZIA), a pivotal legislation designed to bolster EU manufacturing of essential technologies vital for achieving Europe’s ambitious climate and energy objectives. The NZIA, proposed by the European Commission in March 2023 as part of its Green Deal Industrial Plan strategy, aims to enhance…