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Arca signs a 10-year carbon removal agreement with Microsoft. British Columbia-based Arca will use its technology to transform mining waste into rock, permanently sequestering nearly 300,000 tonnes of CO2. The agreement supports Microsoft’s goal to become carbon negative by 2030….
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Net Purpose acquires SDI AOP to unify sustainable investment standards. The acquisition aims to enhance sustainable investing by creating a unified standard that accelerates investments aligned with climate and Sustainable Development Goals, leveraging the expertise of major pension asset managers….
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UK universities plan £500m fossil-free cash investment fund. A coalition of 79 higher education institutions, led by Cambridge, aims to decarbonise short-term investments through a new fund excluding fossil fuel-linked companies, expected to launch by late 2025.
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UK grants FCA powers to regulate ESG ratings providers. The legislation aims to ensure transparency and comparability in ESG ratings, enhancing trust in sustainable finance. A public consultation on detailed rules is expected by year-end.
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Upright launches a tool for real-time double materiality assessment. The tool, available for free, allows companies to conduct a comprehensive double materiality assessment using just their URL, addressing key impacts, risks, and opportunities in minutes….
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UK Government introduces law to regulate ESG ratings providers. The legislation places ESG ratings providers under Financial Conduct Authority supervision, following IOSCO’s 2021 call for improved transparency and oversight. The regulation will apply to both UK-based and foreign providers….
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Amundi partners with UK universities for fossil fuel-free cash fund. The fund, excluding companies linked to fossil fuel expansion, will see an initial investment of nearly £500 million from a coalition led by the University of Cambridge….
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ExxonMobil challenges California’s climate laws in U.S. court. ExxonMobil has filed a lawsuit against California’s new climate reporting requirements, arguing they infringe on free speech rights and are ideologically driven. The laws mandate emissions and climate risk disclosures from large companies operating in California….
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EY appoints Colm Devine as Global Vice Chair for Sustainability. Devine, with over two decades at EY, will lead the firm’s sustainability agenda, leveraging technology and AI to support global clients and professionals in achieving their sustainability goals….
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EcoVadis expands network with SGS and QIMA for audits. The company enhances its ecosystem to meet rising client demand for training and auditing services, integrating SGS and QIMA to strengthen global supply chain sustainability through expert verification and assurance….