17-Apr-2024
Prada invests in sustainable aviation fuel credits
Luxury goods maker Prada announced its first investment in sustainable aviation fuel (SAF) credits, using DHL’s “GoGreen Plus” environmentally-friendly freight programme. The total number of credits purchased has not yet been disclosed.
17-Apr-2024
SBTi approves Mondelēz 2030 and 2050 net-zero targets
Food group Mondelēz announced that the Science Based Targets initiative (SBTi) validated its near-term 2030 greenhouse gas reduction targets and its net-zero target by 2050.
17-Apr-2024
Climeworks to study large-scale DAC+S deployment in Norway
Developer Climeworks has clinched USD 2.4 million (CHF 2.2 million) in funding from Norwegian state-owned enterprise Enova to conduct a feasibility study for a multi-kiloton-capacity direct air capture & storage (DAC+S) plant.
17-Apr-2024
EU agrees on first-ever law to curb methane emissions
The European Parliament and Council of Ministers reached a provisional agreement on a new regulation to reduce energy sector methane emissions in Europe and in global supply chains.
09-Apr-2024
SSAB to build fossil-free steel mill, slash Sweden’s CO2 emissions by 7%
Global steel company SSAB’s board of directors has announced plans to build a fossil-free steel mill in Northern Sweden, which will reduce the country's CO2 emissions by 7% and require an investment of SEK 52 billion (USD 4.9 billion.)
09-Apr-2024
Court bans ‘greenwashing’ adverts by Eurowings
The German regional court Deutsche Umwelthilfe (DUH) prohibited Eurowings, an airline part of the Lufthansa Group, from advertising flights as carbon neutral when emissions are offset using credits from certain forestry conservation projects.
09-Apr-2024
IKEA Foundation commits USD 100 million to Drive Electric Campaign
The IKEA Foundation has awarded a USD100 million grant to the Drive Electric Campaign to help advance the transition to electric vehicles in Africa, Latin America and Southeast Asia, Reuters reported.
09-Apr-2024
China State Council releases interim ETS regulation
The State Council of China released the first legal framework for carbon markets governance, effective from 1 May 2024, including penalties for falsification of emissions data and institutional support for a functional operation of China’s Emission Trading System.
09-Apr-2024
Civitas Resources retires over 800k tCO2e from carbon projects
In one of the largest corporate retirements of the year so far, MSCI Carbon Markets’ data showed US oil and gas firm Civitas Resources retired over 800k tCO2e of credits from US energy efficiency and landfill gas projects and a Turkish hydropower plant last week, making it the sixth-largest retiree of 2024 so far. Civitas was one of the largest retirees of credits in 2023 also.
09-Apr-2024
Solarig to set up USD 845m sustainable aviation fuel plant
Developer Solarig has announced it is starting work on a Sustainable Aviation Fuel (SAF) plant in Spain with a production capacity of 60,000 tonnes per year, through an estimated investment of USD 845 million (EUR 780 million).
09-Apr-2024
Citi, JPMorgan, RBC to offer new climate metric after shareholder calls
Citigroup, JPMorgan and Royal Bank of Canada will disclose a new climate metric based on their ratio of financing for low-carbon energy projects compared with their financing for fossil fuel projects. As a result, New York City retirement funds have withdrawn shareholder resolutions at each bank calling for such disclosures.
09-Apr-2024
BMO updates framework for sustainable bonds
Bank of Montreal (BMO) has extended the green and social use of proceeds criteria in its Sustainable Bond Framework to include financing for nuclear energy, low-carbon fuels, electrification of major industrial processes and adaptation to climate change.
09-Apr-2024
Integrity Council reveals first carbon-crediting programs to qualify
The Integrity Council for the Voluntary Carbon Market designated the first carbon-crediting programs assessed as meeting the high-integrity criteria set out in its Core Carbon Principles (CCPs). They are ACR, the Climate Action Reserve (CAR) and Gold Standard.
09-Apr-2024
US to invest USD 20b in clean energy for low-income communities
The U.S. Environmental Protection Agency announced its selections for USD 20 billion in grant awards aimed at ensuring that undeserved communities have access to capital for clean energy projects. Three are under the USD 14 billion National Clean Investment Fund and five under the USD 6 billion Clean Communities Investment Accelerator.
09-Apr-2024
EU ETS free allocation rules adopted
New rules on the free allocation of carbon pollution permits under the EU ETS became law last week with their publication in the Official Journal of the European Union, aligning more closely with the bloc's target of a 55% net emissions reduction by 2030.
09-Apr-2024
French Association for Negative Emissions debuts
France launched the French Association for Negative Emissions (AFEN) as a catalyst for the development of carbon dioxide removal and storage technologies in the country, mirroring the recent creation of the Deutscher Verband für negative Emissionen (DVNE) in Germany.
09-Apr-2024
New Zealand's methane targets to be independently reviewed
New Zealand's Climate Change and Agriculture Ministers announced that an independent panel of experts will review agricultural biogenic methane science and targets.
26-Mar-2024
SBTi releases updated guidance for carmakers
The Science Based Targets initiative (SBTi) released updated guidance for land vehicles, including a new method for automakers to set 1.5°C emission reduction targets.
26-Mar-2024
Saudi Aramco, Amazon, Siemens invest USD 80m in DAC
CarbonCapture, a US-based direct air capture (DAC) company, announced the completion of its USD 80 million Series A financing following the addition of strategic investors such as Amazon’s Climate Pledge Fund, Aramco Ventures, and Siemens Financial Services.
26-Mar-2024
Nigeria gives deadline for eco-friendly corporate reporting standards
Nigeria said it will oblige companies to disclose their eco-friendly practices and how they manage the effects of climate change in their financial reporting within four years, or face sanctions. A public-private hybrid working group also issued a roadmap for implementing those standards.