Today’s ESG Updates
- Bloomberg to Fund UN Climate Body: Bloomberg Philanthropies steps in to support the UNFCCC after Trump’s Paris exit.
- AllianzGI and EIB Raise €450 Million: €450 million fund launched for climate projects in emerging markets.
- Investment in Solar Slows: Renewable energy funding drops amid uncertainty under Trump’s policies.
- Corporate Knights’ Top 100 List: Schneider Electric leads Global 100 sustainable companies ranking.
Micheal Bloomberg to help fund UN Climate Body amid Paris Agreement exit
In reaction to Trump’s withdrawal from the Paris Agreement, Bloomberg Philanthropies and other climate funders, are stepping in to ensure the US meets its climate obligations. The US is responsible for funding around 21% of UNFCCC’s core budget. Whilst, a Reuters analysis revealed that the UN body is experiencing severe budget shortfalls that are affecting climate action. Philanthropy’s role is crucial now in maintaining US commitment to climate goals with ESG solutions aiding in meeting these climate goals.
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Further reading: Michael Bloomberg steps in to help fund UN climate body after Trump withdrawal
AllianzGI and EIB raise €450 million for emerging markets climate action fund
A fund created by the European Investment Bank (EIB) and Allianz Global Investors (AllianzGI) has reached €450 million with a final contribution from the German government. The fund aims to encourage climate financing in emerging markets whilst mobilising €7.5 billion worth of climate projects in emerging and developing countries. Projects include supporting more sustainable practices in the form of renewable energy development, sustainable transport and investment in water supply.
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Further reading: Emerging markets climate fund created by EIB and Allianz Global Investors reaches final size of €450 million
Investment in solar and energy storage slowing amid Trump’s administration
According to data from Mercom Capital Group, the last quarter of 2024 saw an overall yearly decline in renewable energy financing. Venture capital was down 36% in Solar and 60% in energy storage, whilst public market financing saw a drop of 59% in Solar. These trends correlate with solar companies posting a record $5 billion in securitisation deals. The downturn in the market most likely reflects uncertainty about how Trump’s administration will affect clean energy.
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Further Reading: Investor interest in solar, storage cools amid Trump administration uncertainty
Corporate Knights reveal Global 100 sustainable businesses ranking
Leading research sustainability research organisation’ Corporate Knights’ has published its ‘Global 100 Most Sustainable Corporations’ list. Companies are ranked based on their environmental and ethical performances in a variety of ESG categories, including carbon emissions, pay and gender equality. European firms fared strong, with French and Danish businesses topping the list, and French firm Schneider Electric took the top position. Businesses wanting to attract investment and become more sustainable can do so with ESG tools.
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Further reading: The Global 100 list: How the world’s most sustainable corporations are driving the green transition
Editor’s Note: The opinions expressed here by the authors are their own, not those of impakter.com — Cover Photo Credit: Wikimedia Commons
