EFRAG Targets 50% Cut in ESRS Reporting Burden in Progress Update to EU Commission
Key Impact Points: 50% Reduction Goal: EFRAG aims to cut the number of mandatory data points in the ESRS by over half to ease the reporting burden on companies. Six Simplification Levers: Reforms include simplifying the double materiality assessment, streamlining disclosures, and improving clarity and interoperability with IFRS standards. October Deadline: EFRAG will publish draft […]
UK Commits £700 Million to Clean Energy Manufacturing in New Industrial Strategy
Clean energy investment to more than double to £30B annually by 2035, backed by £1.7B in public-private funding for supply chains. Advanced manufacturing receives £2.8B in R&D over five years to accelerate innovation, automation, and digitalisation. New industrial strategy integrates digital tech, life sciences, and services, positioning the UK as a global clean energy and […]
Virgin’s Net-Zero Targets Approved by SBTi, Signaling Bold Climate Commitment
SBTi validates Virgin’s net-zero pathway, aligning with climate science to halve emissions by 2030 and reach net-zero by 2050. Virgin commits to a 90% reduction in scope 1, 2, and 3 emissions by 2050 across its value chain. By 2029, 68% of Virgin’s licensees (by emissions) will set science-based targets. Virgin Holdings Limited has received […]
Eni Sells 20% of Plenitude to Ares for $2.3B in Renewables
$2.3B stake sold: Eni sells 20% of Plenitude to Ares Management, valuing the company at over €12B including debt. Strategic partnership: Move aligns with Eni’s long-term strategy to scale its energy transition platform through partnerships. Global expansion: Ares strengthens its footprint in Italy while backing a renewables and EV charging leader with 10M+ customers. Italian […]
GRI Launches Machine-Readable Taxonomy to Streamline Global Sustainability Reporting
Digital Efficiency: GRI’s new Sustainability Taxonomy uses XBRL to make sustainability reports machine-readable, improving data collection, comparability, and analysis. Global Interoperability: The taxonomy aligns with ISSB and ESRS standards, facilitating cross-border regulatory compliance and standardization. Enhanced Transparency: Filing tools and upcoming training will help companies produce more consistent, trustworthy, and accessible sustainability disclosures. The Global […]
