Today’s ESG Updates
- ArcelorMittal Set to Face Charges in Pollution Case: The world’s second largest steel maker has been indicted for environmental and other damages
- Google Announces 4 New Global Partnerships Refilling 8 Billion Gallons of Water Every Year by 2030: Google announces 2025 Water Stewardship Project Portfolio summary report
- Iberdrola Issues €400M Green Bond: Renewable energy giant announces huge deal.
- KPMG Research Finds 62% of First ESRS Reporters Propose Net-Zero Targets: Research is positive but shows wide disparities in approaches to sustainability reporting
ArcelorMittal steel making giant indicted in Fos-sur-Mer pollution Case
The world’s second largest steelmaker has been put on trial for endangering the lives of others, forgery, and environmental damages due to its industrial activities in the Fos-sur-Mer region. It has been placed under judicial supervision and is being forced to pay a €250,000 deposit and a €1.75M bank guarantee. This is not their first run in with legal authorities as they were first sued in November 2018 by French NGO Association de Défense et Protection du Littoral du Golfe de Fos (ADPLGF) as well as local residents, unions and other NGOs. ADPLGF has welcomed this recent indictment. ArcelorMittal stated to Reuters that it “fully cooperates with the authorities responsible for handling complaints filed by residents and environmental associations related to the Fos-sur-Mer site.” The Luxembourg based group claims that modernisation of facilities and technological innovation have reduced emissions by 70% compared with 2002, but clearly this is not enough. For companies looking to stay in line with ESG demands and standards, see ESG solutions.
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Further reading: ArcelorMittal indicted in Fos-sur-Mer pollution case in France
Google announces 4 new global partnerships in 2025 water stewardship project portfolio
On World Water Day, Google announced four new global partnerships as part of their Water Stewardship Project Portfolio. The summary report highlighted progress and presented these global partnerships focused particularly on sustainable agriculture. The four global partnerships announced are based in: Chile, California, Taiwan and France. In Chile, Google has partnered with Agua Segura and Bonneville Environmental Foundation to enhance water security in the Maipo Basin. In California, Google has joined forces with Sustainable Conservation supporting a manure drip irrigation system. In Taiwan, Google has teamed up with N-Drip to combat water scarcity impacting Taiwanese rice farmers. In France, Google has partnered with xFarm Technologies, advancing irrigation efficiency in potato farming by the Seine River basin. Supporting global pioneering companies, Google is combatting water wastage on a global yet focused scale.
Photo Credit: Pawel Czerwinski
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Further reading: Google Announces 4 New Global Partnerships to Replenish 8 Billion Gallons of Water Yearly by 2030
Iberdrola issues €400M green bond
Iberdrola, a global leader in renewable energy, has secured €400M via a green bond tied to share price performance. The green bond is indexed to its share price, maturing in five years with a coupon rate of 1.5%. Investors will benefit from appreciation in the share price but will only receive the payment difference. This prevents a dilution effect on existing shareholders. In order to prevent risk and secure an ideal financial structure, Iberdrola has also purchased an identical hedging option. Iberdrola continues to be a pioneer in the structured bond market and a trailblazer in innovative financial structuring.
Photo Credit: Nicholas Doherty
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Further Reading: Iberdrola Issues €400 Million Share-Linked Green Bond
KPMG research finds 62% of first ESRS reporters propose net-zero targets
KPMG researchers have noted that ESRS reporting (European Sustainability Reporting Standards) varies greatly amongst companies. There was great variety in reporting practices but climate related reporting proved to be much more mature compared to other areas. For example, 86% of companies disclosed climate scenario analyses, and 62% committed to net-zero targets primarily aiming for 2050. The research however found that there was a clear lack of focus amongst companies linking sustainability with overall business strategy. Diversity in approaches to sustainability is to be expected however the report presents that there is a clear need for companies to reassess these. Ensuring clear alignment with business strategy and increasing stakeholder engagement should be at the top of their priorities.
Photo Credit: Paula Prekopova
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Further reading: KPMG Finds 62% of First ESRS Reporters Set Net-Zero Targets
Editor’s Note: The opinions expressed here by the authors are their own, not those of impakter.com — Cover Photo Credit: Ant Rozetsky
