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.
EU legislators have agreed on greenhouse gas emissions reduction targets for the maritime transport sector.
The European Commission has proposed its Net-Zero Industry Act, outlining various measures to support green manufacturing and the scale-up of clean technologies.
The European Commission, Parliament and Council have reached a provisional agreement on the proposed reformation of the EU Energy Efficiency Directive.
The EU has presented its ‘Green Deal Industrial Plan’, which seeks to boost investment and economic resilience in the bloc to tackle the challenges of the green transition. It is similar to plans proposed by other major economies of the world, but there is little mention of helping low-income countries with the challenges arising from the transition.
The Sustainable Finance Disclosure Requirements (SFDR) sets out mandatory ESG disclosure obligations for asset managers and other market participants. Confusing guidance from the regulator however has caused many fund managers to step back from sustainable investments, which may raise doubts over the effectiveness of the regulations.