Toyota Ventures, the venture capital arm of automotive giant Toyota, has announced the launch of the Toyota Ventures Climate Fund II (TVCF II), aimed at advancing startups that focus on climate and environmental sustainability solutions. This new fund follows the successful inaugural Toyota Ventures Climate Fund launched in 2021, which saw investments in 18 companies…

Public companies globally are making strides in disclosing their greenhouse gas emissions, with approximately 60% reporting direct Scope 1 and 2 emissions and over 40% disclosing some Scope 3 emissions, reveals the latest MSCI Net-Zero Tracker. This report assesses the climate progress of companies in the MSCI All Country World Investable Market Index using MSCI's…

The Science Based Targets initiative (SBTi) has announced an update to its Corporate Net-Zero Standard, expanding the use of environmental attribute certificates, such as emissions reduction credits, to address Scope 3 emissions. These indirect emissions, often representing over 90% of a company's total emissions and arising from activities like supply chain operations and product use,…

In an ambitious move to transform urban mobility across emerging markets, Drive Electric announces the Leapfrogging Partnership, energized by a $100 million investment from the IKEA Foundation. This groundbreaking initiative aims to catalyze the transition to 100% zero-emission vehicles, addressing the disproportionate distribution of clean transportation benefits. With the globe's vehicle demand surge projected in…

A new report by Boston University and the African Economic Research Consortium highlights China's pivotal role in Africa’s transition to renewable energy, contrasting its commitments to green energy with actual investments favoring fossil fuels. Despite being Africa's largest trading partner and making strides in infrastructure development, only 2% of Chinese loans to Africa's energy sector…

Nestlé has joined forces with The Global FoodBanking Network (GFN) to combat hunger worldwide through a Memorandum of Understanding (MOU). This agreement signifies a deepened commitment between the two organizations to enhance food accessibility and support communities in need. By leveraging Nestlé's extensive global operations and GFN's network of community-rooted food banks, this partnership aims…

In a stark revelation, the UN Environment Programme (UNEP) reports that over 1 billion meals are discarded daily while 783 million individuals face hunger globally, spotlighting the pressing issue of food waste amidst rising food insecurity. The UNEP Food Waste Index Report 2024, crafted with WRAP, sheds light on the scale of food waste across…

The UK Environment Agency's recent guidance on green hydrogen production marks a significant advancement towards achieving the country's Net Zero goals, focusing on the electrolysis of water as a method for generating hydrogen using renewable energy sources. Developed in consultation with various stakeholders, this guidance outlines the environmental and operational standards required for businesses aiming…

In a historic collaboration, the presidents of France and Brazil have unveiled a pioneering $1.1 billion initiative dedicated to the conservation of the Amazon rainforest, showcasing a united front in environmental protection efforts. This fund, supported by both public and private sectors, underscores the renewed commitment of both nations to safeguard one of the planet's…

The Metropolitan Transportation Authority (MTA) has taken a landmark step by establishing toll rates for New York City's Central Business District, marking a pivotal moment in the city's quest to implement congestion pricing. This decision, influenced by extensive public feedback, aims to alleviate traffic congestion, reduce pollution, and generate vital funds for public transit enhancements.…

The European Securities and Markets Authority (ESMA) is enhancing the integrity of the EU Green Bond market through its recent consultation on Draft Regulatory Technical Standards (RTS) for the registration and supervision of external reviewers. Aimed at ensuring the reliable assessment of EU Green Bonds, ESMA's proposals set forth detailed criteria for evaluating the qualifications…

In a striking development, the Texas Permanent School Fund (PSF) is cutting ties with BlackRock, marking a significant moment in the ongoing debate over Environmental, Social, and Governance (ESG) investing. This decision to withdraw $8.5 billion managed by BlackRock stems from a disagreement regarding ESG practices, which the Texas State Board of Education perceives as…