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Foundation News

Key management committee members of ESG Future Foundation have successfully developed a new IEEE standard:

P2781-2022 “IEEE Guide for Load Modeling and Simulations for Power Systems” is now released by the IEEE Standards Association.

Prof. Junhua ZHAO from the Chinese University of Hong Kong has 11 years of experience in the power industry in Australia. His research area includes smart grid, electricity market, energy economics, data mining and artificial intelligence.

The IEEE standard P2781-2022 provides comprehensive policies and procedures of load modeling and simulations, and includes guidance for developing load models, identifying load model parameters, and utilizing measurement data for load model development at various voltage levels. This standard enables more accurate simulations of power system operation. Based on this standard, more accurate approaches and results of power system carbon intensity and carbon accounting will be achieved, and the high proportion of renewable energy integration in the power system will develop towards a more stable and economic direction.

News

S&P Dow Jones Indices Announces Launch of Innovative Biodiversity-Focused Benchmarks

S&P Dow Jones Indices’ approach to index design reflects a holistic view of the vast sustainability ecosystem and biodiversity is an important part of this equation,” said Jas Duhra, Global Head of Sustainability Indices at S&P DJI. “The S&P Biodiversity Indices are designed to help offer additional insights for our clients and market participants who are seeking to measure, analyze and better understand their investments’ impact on the natural world, and support their goals to create a more resilient and ecologically conscious investment landscape.”

Canada to Issue Innovative Green Bond Including Nuclear Energy

The Government of Canada’s green bonds will meet demand from investors seeking green investment opportunities backed by Canada’s AAA credit rating, while contributing to the development of a stronger sustainable finance market in Canada.

Brazil Partners with Largest Climate Finance Alliance to Scale Climate Finance for Green Growth Plans

Brazil’s historic commitments and its track record of innovation have made it a global climate leader. Now its renewed ambitions are creating the unique opportunity to accelerate strong, sustainable, and inclusive growth,” said Mark Carney, UN Special Envoy on Climate Action and Finance and GFANZ Co-Chair. “The Climate Transition Platform and the GFANZ Country Chapter will bring together the best in Brazilian finance and industry to support the essential data, transition planning and investment that this ambitious, essential transition requires.”

How To Recognize ESG Reporting Risks And Opportunities In 2024

According to Gartner, 85% of investors consider ESG factors in their due diligence. And employees and customers are also paying close attention, with 66% of consumers saying they would pay more for sustainable products.

With this shift in mind, our research found that 90% of senior accounting and finance executives are looking to implement new sustainability goals over the next two to five years. 

Green finance experts unveil blueprint for mobilising net zero investment

The report highlights the growing need for private finance to meet the UK’s net-zero goals, estimating an annual requirement of £50bn to £60bn by 2030. To attract this investment, the report recommends:

  • Deeper public-private collaboration
  • Investable transition pathways
  • Catalytic public finance
  • Addressing policy and regulatory barriers

Biden-Harris Administration Invests $5.8 Billion in Clean Water Infrastructure

President Biden and I believe that every person in our country should have a right to clean water no matter where they live or how much money they make. That is why our Administration made clean water a national priority and delivered the largest investment in America’s water infrastructure in history,” said Vice President Harris. “Today, I am proud to announce more than $5.8 billion from our Investing in America agenda for states, Tribes, and territories to upgrade water infrastructure in communities across our nation…”

ESG Regulations Are Here — 5 Actions Companies Should Take Now

ESG has long been a nice-to-have, an opportunity for businesses to showcase purpose over profit. Now, a rapidly evolving regulatory landscape means that companies will have to embrace innovation and start implementing, monitoring, and reporting on their ESG efforts—or face penalties down the road.

EU Sets New Standards to Combat Greenwashing with Verification Requirements

The so-called green claims directive complements the already-approved EU ban on greenwashing. It defines what kind of information companies have to provide to justify their environmental marketing claims in the future. It also creates a framework and deadlines for checking evidence and approving claims, and specifies what happens to companies who break the law.

Barclays Revises Climate Policy to Strengthen Support for Sustainable Energy Transition

London, 09 February 2024 – Barclays today publishes a revised Climate Change Statement to progress its climate strategy and continues its focus on clients actively engaged in the energy transition. Following Barclays’ commitment to finance $1trillion of Sustainable and Transition Finance by 2030, Barclays also releases a Transition Finance Framework to support us to meet that target and facilitate the transition finance needed to decarbonise high-emitting sectors.

HSBC and Google Cloud Launch Partnership to Boost Climate Technology Ventures

  • Collaboration to support companies in “Google Cloud Ready – Sustainability” ecosystem, through financing and tech support
  • HSBC delivers partnership’s first venture debt funding, to LevelTen Energy

Amazon Fund for Rainforest Achieves Record $640 Million in New Pledges in 2023

The Fund’s revitalization saw new donations from Germany, Norway, the USA, Switzerland, and the UK, totaling R$3.5 billion. Additionally, announced resources from the European Union, Norway, the USA, the UK, and Denmark are in negotiation, reflecting a robust commitment to Brazil’s forest restoration efforts. Campello affirmed, “We will be happy to receive the missing resources, and Brazil needs it, even more so with the new forest restoration front in the Amazon.”

Successful ESG Strategies Can Be A Path For Growth

ESG and sustainability strategies are no longer nice to have—they are becoming central to successful business strategies as external stakeholders put increased pressure on organizations to demonstrate how they are making a positive impact in the communities they serve. These strategies are quickly becoming key differentiators for leaders around the world.

IESBA Launches Public Consultation on New Ethical Benchmark for Sustainability Reporting and Assurance

Two new exposure drafts set forth the first comprehensive suite of global standards on ethical considerations in sustainability reporting and assurance

Proposed standards aim to foster greater trust in all publicly communicated sustainability information through the application of a consistent ethical approach

The IESBA welcomes comments from the entire sustainability community – professional accountants, all other sustainability practitioners, regulators, and investors

HSBC Unveil Their First Net Zero Transition Plan

HSBC’s Net Zero Transition Plan demonstrates a comprehensive and ambitious approach to navigating the path towards a net zero future. Its focus on real-world impact, sector-specific strategies, and collaborative partnerships positions the bank as a key player in shaping the financial landscape of the low-carbon economy.

Navigating Telecoms In 2024: ESG Commitments, The Digital Trust Race And More

This year, more than ever before, consumers are defining the direction of ESG. As an example, products with ESG credentials on their labels grew at a rate of 6.4% per year, in comparison to 4.7% yearly growth for products that didn’t, according to research from McKinsey. Making it clear that ESG credentials are crucial for driving sales growth. Consumers want to see businesses not only doing right by the planet but right by them, too.

EU Freezes F-Gases, Paving Way for Cleaner Future

With 457 votes in favour, 92 against and 32 abstentions, MEPs endorsed a deal reached with the Council to further cut emissions from fluorinated gases. The text foresees a total phase-out of hydrofluorocarbons (HFCs) by 2050, including a trajectory to reduce the EU consumption quota between 2024-2049.

PwC CEO Survey: Climate Concerns Drive Transformation Agenda

As CEOs establish priorities, many are seeing the climate transition as an industry disruptor containing distinct opportunities in addition to risks. Nearly one-third expect climate change to shift the way they create, deliver, and capture value over the next three years – up from less than one-quarter who said as much regarding the past 5 years.

Digital Solutions For A Greener Tomorrow: Harnessing Technology For ESG Strategies

Across the world, companies are taking steps to ensure a more ESG (environmental social governance) approach to their business. One Edelman report found that 92% of U.S. investors stated that “a company with strong ESG performance deserves a premium valuation to its share price.”

The Intersection Of Fintech And ESG

While a common assumption is that fintechs have minimal negative environmental impact, it is not entirely absent. There is a need to establish future requirements for companies to manage their operations with a focus on ESG principles.

Nonetheless, stakeholders are increasingly concerned about the performance of companies, which has led to governments, investors, customers and employees requesting more information about how they address these issues.

Germany Hits 70-Year Low in CO₂ Emissions, Agora Energiewende Study Reveals

Germany’s CO₂ emissions fell to their lowest level in 70 years in 2023. A large part of this reduction is due to an unexpectedly sharp decline in coal use. At the same time, emissions fell at the expense of energy-intensive industry as the economic situation and international crises prompted a drop in production. To achieve lasting emissions cuts, the German government must close gaps in its climate policies in 2024 – particularly in the transport and buildings sectors.

First Solar and Cleantech Solar to Offset 7,000 Kilotons of CO2 with 150 MW Renewable Energy

First Solar, Inc. announced that it has entered into a 15-year, captive Power Purchase Agreement (PPA) with Cleantech Solar, a leading provider of renewable energy solutions to corporations in India and Southeast Asia. Under the agreement, Cleantech Solar will construct 150 megawatts (MW) of photovoltaic (PV) solar and 16.8 MW of wind-generating assets in Tamil Nadu, India, supplying approximately 7.3 gigawatt-hours (GWh) of clean electricity to First Solar’s new 3.3-gigawatt (GW) vertically integrated solar manufacturing facility, also located in Tamil Nadu.

Germany’s Renewable Energy Milestone: Over 50% of 2023’s Electricity Sourced Sustainably

Renewable energies covered almost 52 percent of gross electricity consumption in 2023. This is shown by preliminary calculations by the Center for Solar Energy and Hydrogen Research Baden-Württemberg (ZSW) and the Federal Association of the Energy and Water Industry (BDEW). This means that the share has increased by 5 percentage points compared to the same period last year and is above the 50 percent mark for the first time for a full year.

Morningstar Debuts Transatlantic SDG Index with Sustainalytics and Citi for ESG Impactful ESG Investing

The new index joins Morningstar Indexes family of sustainable investing index solutions, a global range of market indexes designed to help investors address a variety of sustainable investment goals including ESG risk, climate and impact. Morningstar continues to develop a broad range of market data, insights, investment tools and research to help a wide spectrum of sustainable investment goals across markets.

SHEIN Customer Study Reveals Growing Embrace of Circular Fashion Practices

A recent study conducted by SHEIN, in partnership with Alchemer, delves into the fashion habits and sustainability attitudes of its customer base. Surveying over 3,500 individuals across the US, Mexico, Brazil, the UK, France, and Germany, the research sheds light on five key insights into SHEIN customers’ understanding and engagement with circularity in fashion.

  • Rob Almond
  • Dec 19, 2023

Leading With Purpose: Living Beyond The ESG Report

In recent years, the spotlight on environmental, social and governance (ESG) reporting has intensified. Shareholders, customers and the global community expect more from businesses than just profits. They demand ethical and sustainable practices, robust governance and a commitment to social welfare. While publishing an ESG report is a step forward, leadership goes beyond documentation—it requires living these principles every day.

AI And ESG Linkages Are Critical To Our Society

AI ESG specializations will become a new career path for many – and I for one will be learning beside them. With the emerging AI laws we will need more compliance and auditing on high risk AI models, so expanding the ESG operating mandate should be a priority for all boards of directors and have CEO attention.

  • Jorge Gonzalez Henrichsen
  • July 11, 2023

ESG Principles: Why Manufacturers Must Embrace Sustainability

Large manufacturers increasingly demand that their suppliers also adhere to these standards, ensuring that goods are produced sustainably and that employees are held in high regard. As a result, small suppliers who do not incorporate ESG into their business model may risk losing their clients to competitors who have already made these changes.

Pfizer Announces Commitment to Accelerate Climate Action and Achieve Net-Zero Standard by 2040

  • Pfizer aims to achieve net-zero targets ten years earlier than the expectations of the Net-Zero Standard
  • Commitment is aligned with Pfizer’s Environmental, Social and Governance (ESG) priorities
  • Pfizer also signs voluntary U.S. Department of Health & Human Services (HHS) pledge committing to reduce Greenhouse Gas (GHG) emissions and accelerate climate action 
  • June 30, 2022
  • Corporate
  • July 05, 2022

HKEX LAUNCHES HONG KONG INTERNATIONAL CARBON MARKET COUNCIL, UNVEILS CARBON MARKET PLANS

Hong Kong Exchanges and Clearing Limited (HKEX) is today (Tuesday) pleased to announce the launch of the Hong Kong International Carbon Market Council (the Council). HKEX is partnering with a number of leading corporates and financial institutions as inaugural Council members to explore carbon opportunities in the region.

PwC Australia launches 130-strong new business to help Australia with its $500bn transition to a clean energy economy

PwC Australia has formed a new dedicated Energy Transition business, establishing a hub of 132 experts to help facilitate Australia’s successful transition to a decarbonised economy by 2050.

  • PWC
  • 2022
  • Glenda Korporaal
  • July 04, 2022

ASX 200 companies respond to rising pressure for ESG disclosure: ACSI chief executive Louise Davidson

Rising pressure from investors, regulators, and society is pushing many ASX 200 companies to improve disclosure on environmental, social and governance (ESG) risks, according to Louise Davidson, the chief executive of the Australian Council of Superannuation Investors (ACSI).

ESG issues covered at QME event

Mining industry thought leaders will gather from July 19-21 at the Queensland Mining and Engineering Exhibition in Mackay to inspire and share insights at the Seminar Series, sponsored by Komatsu.

On Thursday, July 21 at 10:10am, a panel that’s both timely and topical will focus on mining leadership in environmental, social and governance (ESG) issues, with contributions from ESG leaders across industry, academia, public sector and consulting backgrounds.

  • Ray Chan
  • June 14, 2022

  • Timothy Rahill; Maureen Schuller; Jeroen van den Broek
  • July 05, 2022

European Central Bank takes a swing at ESG

On Monday, the ECB lifted a further corner of the veil on how it will integrate climate change into its monetary policy operations. The ECB announced that it will begin to decarbonise its corporate bond holdings. We take a look at the specifics of the collateral framework, and what this means for the ESG credit market