Today’s ESG Updates
- Greenpeace Exposes Widespread Amazon Gold Fraud: Investigators find “ghost permits” used to launder gold mined from protected rainforest areas.
- France Faces Backlash Over TotalEnergies Investment: Demonstrators criticize $2.8bn holding in oil major ahead of AGM, calling it a climate and democratic scandal.
- Wall Street Regulator Rolls Back Climate Reporting Plan: SEC says proposed rule exceeds authority and adds unnecessary compliance costs.
- Caudal Energy Raises $5.6m for Tidal Power Tech: Startup secures seed funding to scale oscillating-fin technology inspired by marine mammals.
Fraudulent mining permits drive illegal gold trade in Brazilian Amazon, Greenpeace finds
Illegal miners have extracted billions of dollars’ worth of gold from Brazil’s Amazon rainforest despite a government crackdown, according to a new Greenpeace study.
Researchers analyzed 187 mining permits issued near Indigenous territories and protected areas and found that 98 showed no signs of mining activity. Despite this, the permits were used to justify the sale of 26.8 metric tonnes of gold worth an estimated $3.88 billion between 2018 and March 2026. Greenpeace said miners were using so-called “ghost permits” to disguise the origin of illegally extracted gold.
The findings highlight the challenges facing President Luiz Inácio Lula da Silva’s efforts to eliminate illegal mining on protected lands. Brazil’s mining agency said it was reviewing the permits flagged by Greenpeace, while Indigenous leaders warned that mining continues to drive deforestation, pollute rivers, and damage local communities.
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Further reading: Illegal miners extract billions in Amazon gold despite Brazil crackdown, Greenpeace finds
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Activists protest France’s $2.8bn TotalEnergies stake
Climate activists protested outside TotalEnergies’ headquarters in Paris ahead of the company’s annual shareholder meeting, criticizing the French state’s undisclosed accumulation of a $2.8 billion stake in the oil major.
The holding, equivalent to about 1.33% of TotalEnergies, makes France the company’s 10th-largest shareholder and was disclosed in a U.S. regulatory filing rather than announced domestically. The stake is held via the Caisse des Dépôts et Consignations, which said its holdings are intended to support economic stability and align with France’s energy transition objectives.
Activists said the investment amounted to a “democratic scandal”, arguing public funds should not support fossil fuel expansion by “one of the planet’s largest polluters”. The protest took place as TotalEnergies faces ongoing scrutiny over “superprofits” linked to elevated oil prices due to the war in Iran.
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Further reading: Activists protest French state’s surprise major stake in TotalEnergies outside AGM
Related Articles
Here is a list of articles selected by our Editorial Board that have gained significant interest from the public:
SEC proposes repeal of Biden-Era climate disclosure rule
The U.S. Securities and Exchange Commission (SEC) has proposed scrapping a Biden-era rule that would have required public companies to disclose climate-related risks and emissions, marking a major rollback of federal climate reporting requirements.
The regulation, adopted in 2024 but never implemented due to legal challenges, was designed to provide investors with standardised information on how climate change could affect corporate finances. The SEC said the rule exceeded its statutory authority and imposed unnecessary compliance costs, arguing disclosures should be limited to information that is materially relevant to investors.
The proposal, led by SEC Chair Paul Atkins, opens a 60-day public comment period before any final decision. The move is part of a broader shift in U.S. regulatory policy under President Donald Trump.
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Further reading: Wall St regulator proposes to scrap Biden-era climate rule
Caudal Energy raises $5.6m for bio-Inspired tidal power
UK-based clean energy startup Caudal Energy has raised £4.3 million ($5.6 million) in seed funding to develop tidal power technology designed to generate predictable baseload renewable electricity.
The company, a 2024 spinout from the University of Oxford, is developing a bio-inspired system that replaces conventional tidal turbines with oscillating fins modeled on marine mammal movement. It says the design can operate in mid-flow tidal environments, expanding the number of viable deployment sites beyond the limited conditions required by existing systems.
Caudal argues that its modular platform could reduce installation and maintenance costs, improving commercial scalability and targeting electricity costs competitive with those of offshore wind.
The round was co-led by Oxford Science Enterprises and Empirical Ventures. Funds will support engineering development, testing, and early commercial partnerships.
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Further reading: Caudal Energy Raises $5.6 Million to Generate Power from Marine Mammal-Inspired Tidal Tech
Editor’s Note: The opinions expressed here by the authors are their own, not those of impakter.com — In the Cover Photo: Aerial view of a large open-pit mine in Brazil. Cover Photo Credit: Vlad Chețan.
