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The French Senate has unanimously approved legislation aimed at mitigating the environmental impact of the fast fashion industry. The bill is part of a wider international movement by investors, companies, and governments to tackle the escalating environmental footprint of textile production and consumption, which accounts for 10% of global greenhouse gas emissions, surpassing those from…
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The parent company of Facebook, Instagram, and WhatsApp, Meta, has announced an agreement with clean energy firm XGS Energy to develop 150 megawatts of geothermal energy in New Mexico to support its data centre operations in the region. Based in California, XGS Energy specialises in heat-harvesting technology, facilitating access to affordable and carbon-free geothermal energy.…
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The UK government has pledged £200 million to the Acorn carbon capture and storage (CCS) project in Scotland, marking the largest government funding commitment to date. This investment, confirmed in the Chancellor’s Spending Review, aims to propel the project toward a Final Investment Decision (FID) before the end of the current parliamentary term. “We welcome…
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Quinbrook Infrastructure Partners, an investor concentrating on energy transition, has unveiled several new executive appointments, notably naming Brian Restall as its first-ever Global CEO. The firm also announced the appointments of Giulia Siccardo as Managing Director and Regional Leader for North America, and Kathryn Lin as Senior Director, spearheading Quinbrook’s digital infrastructure strategies. The company…
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Nasdaq, the technology and exchange giant in capital markets, has announced the establishment of the Nasdaq Carbon Academy. This free educational platform aims to furnish individuals with the necessary skills to blend carbon dioxide removal (CDR) credits into businesses’ emissions mitigation strategies. As the demand for carbon offset initiatives and associated credits is projected to…
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The Science Based Targets initiative (SBTi) has unveiled its initial draft of the Automotive Sector Net-Zero Standard, designed to assist car manufacturers and auto parts suppliers in setting science-based net-zero goals in alignment with global climate change targets. Established in 2015, SBTi aims to make science-based environmental target setting a standard practice for businesses. The…
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The Basel Committee on Banking Supervision, the core global authority for setting banking standards and policies, has unveiled a new framework for regulators to disclose climate-related risks by banks. However, under pressure from the US, the committee opted to make the framework voluntary, potentially diluting its original aim of a mandatory Pillar 3 disclosure framework…
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An estimated investment of more than €240 billion will be necessary by 2050 to fulfil the EU member states’ nuclear energy plans and achieve energy decarbonisation objectives, according to the European Commission’s latest analysis. This estimate accompanies the Commission’s revised nuclear illustrative programme (PINC), which reviews nuclear development trends in the EU. This assessment aligns…
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Carbon management software provider Green Project Technologies has introduced act50, a digital marketplace and supplier engagement platform aimed at aiding companies in reducing and monitoring Scope 3 supply chain emissions. Green Project Technologies, established in 2021, offers a comprehensive web-based platform that integrates carbon accounting, supplier engagement, reporting, and advisory services to assist businesses in…
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Amazon and electricity producer Talen Energy have announced a new long-term Power Purchase Agreement (PPA), under which Talen will supply Amazon with 1.9 GW of power from its Susquehanna nuclear power station in Pennsylvania, destined for Amazon Web Services (AWS) data centres in the area. This deal is the latest among several nuclear agreements by…