In a pivotal move for environmental and public health, the U.S. EPA has set forth historic pollution standards for vehicles spanning model years 2027 through 2032, aiming to significantly curb carbon emissions and societal costs. These robust standards are expected to prevent over 7 billion tons of carbon emissions, delivering $100 billion in annual societal…

In a landmark legal decision, the District Court of Amsterdam ruled that KLM's sustainability advertising, which portrayed flying as sustainable and claimed alignment with the Paris Agreement goals, breached EU consumer law due to its misleading nature. This historic ruling, prompted by legal action from environmental groups Fossielvrij and Reclame Fossielvrij, sets a significant precedent…

In a notable announcement, the German government expressed confidence in achieving its ambitious 2030 climate goals. Economics and Climate Action Minister Robert Habeck highlighted new data from the German Environment Agency (UBA), indicating that Germany is on track to reduce greenhouse gas emissions by nearly 64% compared to 1990 levels, aligning closely with the Climate…

The European Council has agreed on a mandate for a regulation on Environmental, Social, and Governance (ESG) ratings to enhance investor confidence in sustainable products. ESG ratings, which assess a company’s sustainability profile and its impact on society and the environment, are becoming increasingly influential in capital markets. The new rules aim to improve the reliability…

January 3, 2024 The Brussels Airport Company, with the backing of the federal government, is set to offer a special financial contribution to encourage the use of Sustainable Aviation Fuel (SAF). Despite the first delivery of SAF via the NATO pipeline a year ago, its high cost has hindered widespread adoption by airlines. To overcome this, a…

January 3, 2024 In 2023, renewable energies accounted for nearly 52% of Germany’s gross electricity consumption, marking the first time the share has surpassed the 50% mark for a full year. This data, revealed by the Center for Solar Energy and Hydrogen Research Baden-Württemberg (ZSW) and the Federal Association of the Energy and Water Industry (BDEW),…

Denmark has launched the Green Fuels Alliance India (GFAI) to strengthen collaboration with India in sustainable energy solutions and advance their joint goal towards carbon neutrality. The alliance, led by the Danish Embassy and Consulate in India, aims to foster innovation and partnerships between Danish industries and their Indian counterparts, focusing on the Green Fuels…

December 27, 2023 Only eight days after the Dept. of Treasury and IRS released its proposed rules for Section 45X manufacturing tax credits within the Inflation Reduction Act, First Solar signed two agreements to sell $700 million of its credits to Firserv, a financial services company. Under the terms of the agreements signed on Dec. 22,…

December 18, 2023 The Canadian government is poised to pass rules requiring all new vehicles sold in the country to be zero-emissions by 2035, according to news reports. The federal government will announce the regulation, called the Electric Vehicle Availability Standard, in the coming days, with the aim of phasing out the sale of new combustion vehicles,…

December 20, 2023 In support of President Biden’s Investing in America agenda, the U.S. Department of Energy (DOE) is now accepting applications for competitive funding to upskill the workforce with energy efficiency certifications. Authorized by President Biden’s Bipartisan Infrastructure Law, the Energy Auditor Training program (EAT) will provide up to $40 million in grants for states…

December 20, 2023 As part of President Biden’s Investing in America agenda, the Biden-Harris Administration announced on Wednesday $600 million for 11 selected Grantmakers under EPA’s Environmental Justice Thriving Communities Grantmaking program, created by President Biden’s Inflation Reduction Act, the largest investment in climate action in history. This new grant program, which will make it easier…

Environmental, Social and Governance (ESG) rating activities play an important role in the EU sustainable finance market as they provide information to investors and financial institutions regarding, for example, investment strategies and risk management on ESG factors. ESG ratings have an increasingly important impact on the operation of capital markets and on investor confidence in sustainable…