June 13, 2023 In a move to bolster the EU sustainable finance framework, the European Commission has unveiled a comprehensive package of measures. The proposed package aims to capitalize on the opportunities presented by the transition to a climate-neutral and sustainable economy by 2050 while addressing the challenges faced by companies and investors in complying with…

June 12, 2023 The European Commission on Friday released a series of proposed changes to the European Sustainability Reporting Standards (ESRS), the rules and requirements for companies to report on sustainability-related impacts, opportunities and risks under the EU’s upcoming Corporate Sustainable Reporting Directive (CSRD). The Commission’s proposals were released as a draft Delegated Act, along…

June 11, 2023 Tima Bansal is a professor and Diane-Laure Arjaliès an associate professor at Ivey Business School Action to block asset managers’ use of “green” filters in a growing number of US states reflects an escalating political backlash against mission-driven investment, with great relevance to students of business. According to deal data provider PitchBook,…

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.…

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…

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…

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…

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,…

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…

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…

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,…

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…