August 22, 2023 TotalEnergies has signed an agreement with CapeOmega Carbon Storage AS, a wholly owned subsidiary of CapeOmega AS, to acquire the 40% participating interest held by CapeOmega in the CO2 storage exploration license ExL004 (the “Luna” project). Located 120 km offshore Bergen in 200 m water depth, ExL004 covers an area of 453 km2. It…

August 17, 2023 The Implementing Regulation details the transitional reporting obligations for EU importers of CBAM goods, as well as the transitional methodology for calculating embedded emissions released during the production process of CBAM goods. In the CBAM’s transitional phase, traders will only have to report on the emissions embedded in their imports subject to the mechanism…

July 31, 2023 The U.S. Department of Energy (DOE) announced up to $453.5 million from the Puerto Rico Energy Resilience Fund (PR-ERF) aimed at increasing residential rooftop solar PV and battery storage installations across the region, with a focus to reach and support Puerto Rico’s most vulnerable residents. This round of funding will provide consumer protection and education…

July 31, 2023 The Commission has today adopted the European Sustainability Reporting Standards (ESRS) for use by all companies subject to the Corporate Sustainability Reporting Directive (CSRD). This marks another step forward in the transition to a sustainable EU economy. Mairead McGuinness, Commissioner for Financial Services, Financial Stability and Capital Markets Union, said: “The standards we have…

July 23, 2023 The accurate reporting of greenhouse gas emissions is essential for driving sustainability in both countries and corporations, argues Liv Watson (senior digitisation advisor for Capitals Coalition) and Marian Van Pelt (senior vice president of climate and clean energy at ICF International) in a recent article. However, the current gap in underreported emissions is estimated…

July 23, 2023 In July 2021 the Financial Stability Board (FSB) released a comprehensive Roadmap, which aims to strengthen risk management practices and enhance financial system resilience to climate-related risks. It outlined key actions to be taken in four areas: firm-level disclosures, data, vulnerabilities analysis, and regulatory practices. In a recent progress report, the FSB takes stock…

July 20, 2023 During their first two years, the EU Missions in Horizon Europe have supported the Commission’s work on the European Green Deal, making Europe fit for the Digital Age, and Europe’s Beating Cancer Plan. Since their inception, EU Missions have demonstrated their potential to accelerate change. Supported primarily by Horizon Europe funding, they have…

July 20, 2023 A landmark new investment by IFC is aiming to boost access to finance for Türkiye’s SMEs–with a focus on women-owned smaller businesses and those helping the country adapt to climate change. IFC is providing $75 million in subordinated debt financing, as part of a $300 million financing package, to Akbank T.A.Ş., a longstanding client,…

July 20, 2023 Energy storage startup Energy Dome announced today that it has raised €55 million ($60 million) in the second tranche of its Series B funding round, with proceeds aimed at scaling the global commercialization of its utility-scale storage solution, the CO2 Battery. Founded in 2019, Milan, Italy-based Energy Dome enables expanded use of renewable energy…

July 20, 2023 Research coincides with the launch of the firm’s ESG Performance Score, a data-driven assessment of corporate sustainability performance inspired by International Sustainability Standards Board (ISSB) standards.   ESG Book’s analysis reveals that European companies lead global peers on ESG performance, but are falling behind on the disclosure of financially material, industry-led sustainability…

July 12, 2023 – Brussels, Belgium On 12th July, ahead of the seventh Ministerial on Climate Action (MoCA7), the Honourable Steven Guilbeault, Minister of Environment and Climate Change, on behalf of the Honourable Harjit S. Sajjan, Minister of International Development and Minister responsible for the Pacific Economic Development Agency of Canada, announced a $450 million contribution…

July 10, 2023 A coalition of investment and sustainable investing groups – including Eurosif, PRI, IIGCC, EFAMA, UNEP FI – alongside more than 90 asset managers announced the publication of a joint statement calling on the European Commission to reconsider its recent proposed changes to the European Sustainability Reporting Standards (ESRS), which would ease several aspects…