EU Approves First-Ever Certification Framework for Carbon Removals and Farming
Key Impact Points: Comprehensive Framework: The EU Council approved the first certification framework for permanent carbon removals, carbon farming, and carbon storage in products to help meet the 2050 climate neutrality target. Robust Certification Criteria: The framework mandates measurable carbon benefits, additionality, long-term storage, and sustainability safeguards for certification. Transparency via EU Registry: A digital […]
EU Regulators, ECB Release Climate Stress Test Results Highlighting Transition Risks
The “Fit-for-55” climate stress test shows that transition risks alone pose limited threats, with first-round losses of 5.2%-6.7% across EU financial sectors over an 8-year horizon. Combined transition and macroeconomic shocks could increase losses significantly, with first-round impacts ranging from 10.9% to 21.5% depending on the sector. Coordinated policy action and climate risk integration in […]
EU Approves New ESG Ratings Regulation to Enhance Transparency and Investor Trust
Boosting transparency: The new regulation requires ESG rating providers in the EU to be authorized and supervised by the European Securities and Markets Authority (ESMA) and comply with strict transparency standards. Preventing conflicts of interest: A clear separation of business and activities is mandated to ensure the integrity and reliability of ESG ratings. Global alignment: […]
Indonesia, Germany Invest €1.2 Billion Green Funding for Clean Energy Development
€1.2 Billion Agreement Signed: Indonesia’s PT PLN (Persero) and Germany’s KfW signed an MoU to fund the development of a Pumped Storage Hydropower Plant (PLTA) and related transmission projects, marking a major step toward Indonesia’s renewable energy goals. Accelerating Energy Transition: The partnership supports Indonesia’s strategy to increase renewable energy capacity by 75% over 15 […]
Starbucks Appoints Marika McCauley Sine as Chief Sustainability Officer
Leadership Transition: Marika McCauley Sine, a sustainability leader from Mars Inc., has been named Starbucks’ Chief Sustainability Officer, succeeding Michael Kobori, who will retire at the end of 2024. Sustainability Goals: McCauley Sine will drive Starbucks’ ambitious sustainability agenda, including achieving carbon neutrality in its coffee supply chain by 2030 and certifying 10,000 Greener Stores […]
