Prathamesh Devlekar, Author at EcoActive ESG

Prathamesh Devlekar

173 articles published

EU Modernisation Fund Invests €2.4 Billion to Accelerate the Green Transition in 7 EU Countries

NewsJune 9, 2023448Views 0Likes 0Comments

June 9, 2023 The European Union’s Modernisation Fund has disbursed €2.4 billion to 31 projects in seven beneficiary countries to help modernise their energy systems, reduce greenhouse gas emissions in energy, industry and transport, and improve energy efficiency. It is the joint largest disbursement to date and will provide a boost to Europe’s green transition.…

Uruguay Plans $4 Billion Green Hydrogen Facility Investment

NewsJune 9, 2023504Views 0Likes 0Comments

June 9, 2023 Uruguay’s state oil company Ancap announced on Thursday a feasibility study for a new $4 billion green hydrogen project, part of a broader government plan to produce low-cost renewable energy. “Here in Uruguay, and here in Paysandu, we are going to benefit from this investment,” President Luis Lacalle Pou told reporters in…

New Roadmap for Greenhouse Gas Reporting

NewsJune 9, 2023415Views 0Likes 0Comments

June 9, 2023 The International Federation of Accountants (IFAC) and the We Mean Business Coalition (WMBC), in collaboration with Accounting for Sustainability (A4S), Global Accounting Alliance (GAA), and World Business Council for Sustainable Development (WBCSD), recently released a guide to help accountants navigate the world of greenhouse gas (GHG) reporting. As climate change continues to…

Australia Mandates Bank Regulator to Consider Climate Risk, Adopt Climate Reporting Standards

NewsJune 9, 2023415Views 0Likes 0Comments

June 9, 2023 The government of Australia announced that it is for the first time mandating Australia’s financial regulator, the Australian Prudential Regulation Authority (APRA), to incorporate climate change-related risks as part of its role. The new requirement, released as part of an updated Statement of Expectations for ARPA, includes “promoting transparency in relation to…

ESAs Explain Greenwashing in The Financial Sector

NewsJune 9, 2023342Views 0Likes 0Comments

June 9, 2023 The European Supervisory Authorities (EBA, EIOPA, and ESMA) have released a Progress Report outlining a common understanding of greenwashing in the financial sector. Greenwashing can refer to intentionally or unintentionally offering misleading sustainability information and – unsurprisingly – the ESA’s report highlights lack of data as a cause. In their coordinated efforts,…

EU Parliament Approves Company Governance ESG Regulation, Advances Climate Transition Plans

NewsJune 9, 2023387Views 0Likes 0Comments

June 9, 2023 The European Parliament has voted in favour of significant new rules designed to reshape corporate practices and strengthen accountability for the environmental and social impacts of companies. The regulations will require companies to identify, address, and mitigate the effects of their activities and value chains on human rights and the environment. This…

Commercial Bank of Dubai Set to Raise $500 Million with Debut Green Bonds

NewsJune 8, 2023551Views 0Likes 0Comments

June 8, 2023 Commercial Bank of Dubai (CBD.DU) is set to raise $500 million through a debut sale of green bonds, its first foray into the international debt markets since 2020 that got $1.4 billion in orders, a bank document showed on Wednesday. The five-year bonds will be used to finance projects eligible under CBD's…

IDB Approves $400 Million Loan to Boost Chile’s Green Hydrogen Industry

NewsJune 8, 2023382Views 0Likes 0Comments

June 8, 2023 The Inter-American Development Bank (IDB) has approved a loan to support the development of the green hydrogen industry and its derivatives in Chile. This operation seeks to help decarbonize the economy and generate new opportunities for the country’s productive development. The resources will be used to finance new projects in green hydrogen,…

Aquila Capital Secures $21 Million from Ashikaga Bank for Japan Solar Project

NewsJune 7, 2023382Views 0Likes 0Comments

June 7, 2023 Investment management company Aquila Capital has secured a 3 billion yen ($21.5 million) loan from Japan’s Ashikaga Bank for a solar power project in Japan’s Chiba prefecture, the company said in a statement on Wednesday. As Japan targets to have 36%-38% of its electricity from renewable sources by the end of this…

iXBRL mandate for CEF & BDC – All you need to know

BlogsJune 3, 2023494Views 0Likes 0Comments

The Securities and Exchange Commission (the "Commission") has adopted rules that will modify the registration, communications, and offering processes for business development companies ("BDCs") and other closed-end investment companies (CEF) under the Securities Act of 1933. The adoption of these amendments requires BDCs must submit financial statements using Inline XBRL (iXBRL) format. However, Registered…

US SEC iXBRL mandate for Form 11-K – Employee Stock Purchase and Savings Plans

BlogsJune 3, 2023446Views 0Likes 0Comments

In 2009, the SEC adopted rules requiring issuers to submit information from the financial statements, including certain registration statements and periodic and current reports in a structured, machine-readable data language using XBRL. In 2018, the SEC modified the existing rules by requiring issuers to use Inline XBRL to improve the quality and usability of XBRL…

Understanding FERC Form 714 (Electric) for XBRL Submission

BlogsJune 3, 2023580Views 0Likes 0Comments

FERC - Current XBRL Mandate : In the United States, FERC, or the Federal Energy Regulatory Commission, regulates electricity, natural gas, oil, and the entire hydropower industry. As the commission has mandated that all of these companies submit their quarterly and annual accounts and operations information in XBRL, the companies are also leveraging the adoption…