17-Apr-2024
China releases regulations on ecological protection compensation
Chinese Premier Li Qiang signed a decree to introduce new regulations governing ecological protection compensation. These give full play to the role of cross-region management and market mechanisms.
17-Apr-2024
SBTi approves Mondelēz 2030 and 2050 net-zero targets
Food group Mondelēz announced that the Science Based Targets initiative (SBTi) validated its near-term 2030 greenhouse gas reduction targets and its net-zero target by 2050.
17-Apr-2024
EU agrees on first-ever law to curb methane emissions
The European Parliament and Council of Ministers reached a provisional agreement on a new regulation to reduce energy sector methane emissions in Europe and in global supply chains.
17-Apr-2024
Human rights violated by Swiss inaction on climate, ECHR rules
In a landmark decision on a case brought by a group of Swiss women against their government, the European Court of Human Rights ruled that weak government climate policies violate fundamental human rights.
17-Apr-2024
Shareholders file proposal for Japanese bank boards
A coalition of environmental groups filed shareholder proposals with Japan’s top three banks – Mitsubishi UFJ, Sumitomo Mitsui and Mizuho – calling for stricter board oversight of climate-related risks.
17-Apr-2024
Zurich stops underwriting new fossil fuel projects
Zurich Insurance has made a significant policy change, declaring that it will no longer provide new insurance underwriting for oil and gas projects.
17-Apr-2024
Toyota Ventures raises USD 300m for climate funds
Toyota Ventures, the carmaker’s early-stage venture capital arm, announced two USD 150 million funds to expand its investments in startups developing disruptive technologies: Toyota Ventures Frontier Fund II (TVFF II) and Toyota Ventures Climate Fund II (TVCF II).
17-Apr-2024
Climate recognised as a fundamental right in India
The Supreme Court of India acknowledged in a landmark ruling that climate change is intricately linked with – and a threat to – fundamental rights, particularly the right to life and to equality.
17-Apr-2024
Brazil unveils plan to end deforestation by 2030
The administration of Brazilian President Luiz Inácio Lula da Silva announced its plan to eliminate deforestation by 2030 in line with an international pledge made at COP-26 in Glasgow in 2021.
17-Apr-2024
SBTi allows carbon credits towards Scope 3 offsetting
The board of trustees of the Science Based Targets initiative said it intends to allow the use of environmental attribute certificates (EACs), including carbon credits, towards Scope 3 targets. This appears to represent a significant change in the SBTi's stance on the use of EACs. After the announcement, some staff called for the CEO and board members to resign. Late on Friday, SBTi’s board clarified that no change has (yet) been made to SBTi’s current standards, and any changes still needs to go through its Standard Operating Procedure. More details are due to be published in July.
17-Apr-2024
Enfinium to invest USD 250 million in carbon capture project
Waste-to-energy developer Enfinium is pushing forward with plans to invest around USD 250 million (GBP 200 million) in carbon capture and storage technology in North Wales.
17-Apr-2024
Climeworks to study large-scale DAC+S deployment in Norway
Developer Climeworks has clinched USD 2.4 million (CHF 2.2 million) in funding from Norwegian state-owned enterprise Enova to conduct a feasibility study for a multi-kiloton-capacity direct air capture & storage (DAC+S) plant.
17-Apr-2024
Prada invests in sustainable aviation fuel credits
Luxury goods maker Prada announced its first investment in sustainable aviation fuel (SAF) credits, using DHL’s “GoGreen Plus” environmentally-friendly freight programme. The total number of credits purchased has not yet been disclosed.
17-Apr-2024
Heinzel sees emission reduction targets validated
Pulp and paper products manufacturer Heinzel has had its near and long-term reduction targets validated by the Science Based Targets initiative (SBTi), including a 42% reduction target by 2030 from a 2021 base year and a net-zero target by 2050.
26-Mar-2024
US EPA finalises car emission standards
The U.S. Environmental Protection Agency unveiled final national pollution standards for passenger cars, light-duty trucks and medium-duty vehicles, for model years 2027 through 2032 and beyond.
26-Mar-2024
Korea pledges USD 338 billion won in climate finance to 2030
The South Korean government and local banks pledged to jointly invest 452 trillion won (USD 337.4 billion) up to 2030, to tackle the climate crisis.
26-Mar-2024
Voluntary standards not yet granted full eligibility for CORSIA Phase 1
UN aviation body ICAO has decided to keep major voluntary carbon standards under 'conditional' approval for Phase 1 of CORSIA (2024-2026). This means that such credits are not yet eligible for use by airlines during the current stage of the international offsetting scheme.
26-Mar-2024
Sainsbury’s commits to 68% emissions cut by 2030
UK-based supermarket chain Sainsbury’s has announced goals for reducing its greenhouse gas emissions by 68% across Scopes 1 and 2 by 2030. These have been validated by the Science Based Targets initiative (SBTi).
26-Mar-2024
SBTi releases updated guidance for carmakers
The Science Based Targets initiative (SBTi) released updated guidance for land vehicles, including a new method for automakers to set 1.5°C emission reduction targets.
26-Mar-2024
Saudi Aramco, Amazon, Siemens invest USD 80m in DAC
CarbonCapture, a US-based direct air capture (DAC) company, announced the completion of its USD 80 million Series A financing following the addition of strategic investors such as Amazon’s Climate Pledge Fund, Aramco Ventures, and Siemens Financial Services.