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EFRAG revises sustainability reporting standards, simplifying requirements significantly. The European Financial Reporting Advisory Group (EFRAG) has released revised drafts of the European Sustainability Reporting Standards, cutting reporting datapoints by 68% to reduce the burden on companies under the EU’s Corporate Sustainability Reporting Directive….
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Barclays exits the Net-Zero Banking Alliance amid global shifts. Barclays’ departure from the UN-backed coalition follows similar exits by major banks globally, amid political pressure. Despite leaving, Barclays maintains its net-zero commitment and sustainable finance goals….
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Europe’s AI Act is now entering a pivotal new phase. General-purpose AI system providers must comply with sweeping transparency, risk and documentation requirements, facing fines up to €35 million for non-compliance.
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APG commits A$1 billion to Octopus Australia’s energy platform. The partnership will enhance Octopus Australia’s renewable energy projects, marking a significant step in Australia’s clean energy transition with a focus on solar, wind, and battery storage developments….
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Britain’s steelmakers regain EU tariff-free access for Category 17. From 1 August, UK producers can export up to 27,000 tonnes of structural steel to Europe each quarter, restoring trade volumes and offering vital certainty for the sector after years of Brexit-linked restrictions.
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A new transatlantic trade era begins with a 15% tariff. European business leaders face lasting uncertainty as the US and EU strike a high-stakes deal that averts a full trade war but cements tariffs at levels unseen in nearly a century.
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US state officials warn investment firms against ESG integration. State treasurers and financial officers from 21 US states have cautioned major investment firms against incorporating sustainability and climate considerations into their strategies, expressing concerns about the erosion of traditional fiduciary duty….
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Planted Solar secures $12 million to enhance solar project deployment. The California-based firm aims to accelerate solar development with its integrated software and hardware platform, reducing costs and land use. The funding will enhance digital solutions and expand international market presence….
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Greenvolt secures €150 million investment from KKR for growth. The capital will support Greenvolt’s expansion, focusing on large-scale battery storage. The transaction, occurring in two phases, aligns with KKR’s acquisition strategy to enhance Greenvolt’s utility-scale capabilities….
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Barclays reports £500 million in sustainable finance revenues. The bank’s sustainability presentation outlines progress towards its net zero goals, with significant achievements in emissions reduction across various sectors, although challenges remain in automotive and aviation….