Today’s ESG Updates
- EPA Loses Bid to Reclaim Green Funding: Court restores protections for $20 billion in clean energy grants awarded under Biden administration.
- China Allocates $319 Million for Agricultural Resilience: The Swedish state-owned energy company will build projects in the North Sea and Kattegat.
- BP Profit More Than Doubles to Highest Level Since 2022: The oil giant reported a $5.73 billion quarterly profit, driven by higher oil prices, trading and refining margins.
- Lithium Boom Sparks Backlash in Rural South Africa: Communities warn that incoming mining projects will damage agricultural land, displace families and threaten up to 30,000 jobs.
US appeals court blocks EPA attempt to reclaim $20 billion in Biden-era clean energy grants
A U.S. appeals court has blocked the Environmental Protection Agency (EPA) from reclaiming nearly $20 billion in clean energy grants awarded under the Biden administration.
The grants were issued in 2022 through the $27 billion Greenhouse Gas Reduction Fund to finance renewable energy projects and expand access to green lending. Zeldin sought to freeze the funding in March 2025 because they did not align with EPA policies. A lower court later blocked the move, allowing the funds to proceed, but the decision was temporarily paused while the EPA appealed.
On Tuesday, a federal appeals court in Washington, D.C. reinstated the injunction, saying that the EPA’s attempt to cancel the grants “based solely on a policy disagreement” likely violated the Inflation Reduction Act. The EPA is now considering whether to appeal to the Supreme Court.
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China allocates $319 million to strengthen agricultural climate resilience
China has allocated $319 million to strengthen agricultural disaster prevention and repair water infrastructure as extreme weather increases risks to food production.
The funding, announced by the Ministry of Finance on Monday, will support disaster relief measures and the restoration of damaged irrigation, drainage and flood-control systems.
The investment aims to improve climate resilience by protecting agricultural output from floods, droughts, and other weather-related disruptions while strengthening long-term food security.
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BP reports highest profit since 2022 as conflict drives surge in oil prices
BP reported second-quarter profit of $5.73 billion, more than double the $2.35 billion recorded a year earlier and above analysts’ expectations of $5.11 billion. The company said higher oil prices, stronger trading results and improved refining margins drove the increase.
The quarterly profit is the highest recorded by the oil giant since 2022, driven by market volatility caused by the U.S.-Iran conflict, which continues to disrupt energy supply chains and tighten demand. Brent crude prices averaged $97 a barrel during the quarter, compared with $78 in the previous three months. Last week, Shell similarly reported a doubling of second-quarter profit to $9.8 billion.
BP CEO Meg O’Neill also announced plans to sell its US biogas business Archaea, as the company continues to scale back renewable investments and refocus on oil and gas.
South African farmers challenge lithium mining expansion
South African farmers are opposing a surge in lithium mining projects, warning that open-pit mines could threaten agricultural land and local livelihoods.
The country is expanding lithium extraction as part of efforts to capitalize on rising demand for battery minerals and use the clean energy transition to revive its economy. But the push has sparked resistance from farming communities in the southeast, where one lithium mine is already operating and more than a dozen prospecting licenses have been issued since 2023.
The licenses cover around 73,000 hectares across 117 farms in KwaZulu-Natal. The South Coast Guardians Association warn the projects could put up to 30,000 farming and related jobs at risk. Some long-established communities have already been relocated as mining expands.
Editor’s Note: The opinions expressed here by the authors are their own, not those of impakter.com — Cover Photo Credit: Wikimedia Commons
