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Banks flout net-zero targets to cash in on the next LNG boom

Corporate Knights

A new report published by Reclaim Finance on Thursday calculates that, between 2021 and 2023, 400 banks put $213 billion toward LNG expansion and 400 investors funded the buildout with $252 billion as of May 2024. Instead of winding down financing, these banks are winding it up, as LNG funding increased by 25% from 2021 to 2023.

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New framework for CO2 offsets could create "cowboy carbon markets," critics warn

Corporate Knights

For the first time carbon credits will be recognized under the Paris Agreement, enabling countries and companies to use offsets to meet their carbon reduction targets, potentially giving a huge boost to carbon credit trading. The market in 2023 was only a fraction of this total at US$723 million, according to Ecosystem Marketplace.

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Who are the top PR firms greenwashing Big Oil at COP29?

Corporate Knights

Since the start of 2023, these 10 agencies have collectively held at least 91 contracts to burnish the reputations of companies involved in the fossil fuel industry, according to research by DeSmog and Clean Creatives. The Saudi government, which has worked to hinder U.N. Twenty-two employees from the U.S.-based

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Use of Employee Incentives to Hit Climate Goals More than Doubles Over Past Year: Accenture

ESG Today

The report found that most companies are making progress on decarbonization, revealing a 6% annual decrease in average emissions intensity, or emissions per unit of revenue, since the 2016 Paris Agreement. over the prior year, after growing from 27% in 2021.

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OECD Warns of Climate-alignment “Blind Spot”

Chris Hall

By 2023, 77 countries had adopted climate-related transparency and information policies, like environmental taxonomies. The OECD report analysed how the climate alignment of finance globally is assessed, the current degree of alignment, and how financial sector and real economy policies and actions influence alignment with Article 2.1c

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Brazil Cuts Amazon Deforestation by 31%, Sets New 2035 Climate Goals

ESG Today

The new decarbonization goal, to be officially presented at the COP29 climate conference currently underway in Baku, Azerbaijan, will form Brazil’s second Nationally Determined Contribution (NDC) under the Paris Agreement.

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GRI, CDP to Strengthen Alignment of Sustainability Reporting Frameworks

ESG Today

In 2023, a record of more than 23,000 companies disclosed through CDP, up 24% over the prior year, and representing companies worth $67 trillion, or more than 66% of global market capitalization.

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