The International Finance Corporation (IFC) and the IFRS Foundation have formed a strategic partnership to enhance sustainability and climate reporting in emerging markets and developing economies (EMDEs). Announced during London’s Climate Action Week, this collaboration aims to standardize and improve transparency in sustainability reporting. The partnership will promote the implementation of IFRS Sustainability Disclosure Standards…

Maersk has celebrated the launch of its first low greenhouse gas emission warehouse in Taulov Dry Port, Denmark. This groundbreaking facility, constructed in less than two years, represents a significant step towards Maersk’s goal of achieving net-zero CO2 emissions by 2040. Built to BREEAM Excellent standards, the warehouse features zero direct emissions, electrified equipment, solar…

In a historic move, Denmark is set to introduce the world’s first CO2 tax on agricultural emissions, specifically targeting livestock. This landmark policy, achieved through broad agreement among farmers, industry, and environmental groups, aims to significantly reduce greenhouse gas emissions. The tax, beginning in 2030, will gradually increase by 2035, with revenues dedicated to supporting…

Canada has amended the Competition Act to combat greenwashing, imposing strict requirements for businesses to substantiate their environmental claims. Effective June 20, these regulations introduce significant penalties for non-compliance, including hefty fines and private litigation starting in June 2025. Companies must urgently review their environmental claims and implement robust compliance programs to mitigate risks. This…

The European Central Bank (ECB) has unveiled its second set of climate-related financial disclosures, revealing a noteworthy decline in carbon emissions from its monetary policy portfolios. Key drivers include the Eurosystem's tilting framework and issuers' improved carbon efficiency, with one-fifth of reductions attributed to reinvestments favoring better climate performers. Expanded disclosures now encompass 99.7% of…

The International Sustainability Standards Board (ISSB) has announced significant strides in harmonizing sustainability disclosure through strategic partnerships and a new two-year work plan. Key collaborations include the Transition Plan Taskforce, GHG Protocol, CDP, Taskforce on Nature-related Financial Disclosures, and Global Reporting Initiative. These efforts aim to streamline sustainability reporting, ensuring investors receive high-quality, comparable information.…

A landmark $10 billion climate resilience bond is proposed for California’s November 2024 ballot, aiming to become the largest voter-approved climate investment in U.S. history. The bond focuses on protecting the state's most vulnerable communities and natural resources from the impacts of climate change. With support from over 180 organizations, the initiative promises comprehensive solutions,…

Vietnam Electricity (EVN) is advancing its integration of renewable energy sources, with solar and wind now making up 12% of its energy mix. Despite these efforts, the utility still heavily relies on coal to prevent blackouts and ensure a stable electricity supply. In May 2024, EVN produced 21.05 billion kWh, predominantly from coal-fired plants, to…

On World Environment Day, the UN celebrated Sir David Attenborough, honoring him with the prestigious 'Champion of the Earth' award. Over a career spanning more than 70 years, Sir David has captivated millions with his natural history documentaries, transforming from a zoologist to a global climate activist. His powerful messages at events like COP26 have…

This festival season, Decathlon introduces the “No Tent Left Behind” campaign to reduce waste and promote sustainability. The initiative, endorsed by Radio DJ Jo Whiley, encourages festival-goers to use Quechua MH100 tents responsibly. Participants can purchase a tent, use it for their festival experience, and return it to any Decathlon store by September 13, 2024,…

A recent Clarity AI study suggests that 44% of funds using environmental and impact terms may need to change their names or divest assets to comply with new EU regulations. The research reveals that these funds are invested in assets breaching the Paris-aligned benchmark (PaB) exclusionary criteria, which disallows investments in sectors such as controversial…

China's Ministry of Finance has announced a draft guideline to unify corporate sustainability disclosures, aiming to establish a nationwide standard by 2030. This move aligns with the global emphasis on Environmental, Social, and Governance (ESG) issues and aims to enhance the international competitiveness of Chinese companies. Currently, corporate sustainability disclosures in China are voluntary and…