This week, EU policymakers have turned their attention to a series of sustainability initiatives, with mixed results.
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The EU Commission has launched its first European Hydrogen Bank auction with €800 million (£695m) in subsidies available for renewable hydrogen production.
The recent publication of the Fifth National Assessment report in the US has once again highlighted the economic and human costs of climate change. In the US alone $75 billion worth of damage has been recorded so far this year, and concerns are being raised about the associated knock-on impacts on food security and resource management.
The European Union will be much more “assertive” in touting a “made in Europe” approach to ensure that green industries like hydrogen and wind stay on the continent.
The European Parliament has approved its ‘European Green Bond’ label to be used as a new standard aligned with its Green Taxonomy. This will help to address greenwash concerns and help scale the market by providing investor clarity.
Norway’s Norges Bank Investment, manager of the country’s sovereign wealth fund has joined the Partnership for Carbon Accounting Financials (PCAF) signalling significant impact for the growth of standardised carbon accounting. The last week also saw some EU state support for climate action, warnings on lobbying and some focus on banking behaviour.
The European Commission has adopted a package of measures for the sustainable use of key natural resources.
The first annual Eurocities Pulse Mayors Survey, run by the European city network, shows that over half of mayors see tackling the impacts of climate change as an imperative.
Investors and companies alike are being forced to reckon with the implications of environmental, social and governance challenges. In this weekly roundup, we explore growing concern about greenwash, new funds launched and shifting interest from the fossil fuel sector.
The European Union and Norway will form a “Green Alliance” to bolster cooperation in clean industries like carbon capture and storage and hydrogen as they look to strengthen the region’s potential as an energy technology hub.