Brexit Reset: EU and Britain Reach an Agreement

Today’s ESG Updates

• UK and EU Reset Brexit: The EU and Britain agree to renew trade and security ties, easing Brexit barriers and increasing cross-border collaboration.
• EU Invests €1.25B in Climate Research: The European Commission launches a major fund to attract global talent and support displaced and emerging scientists.
• EGA to Build U.S. Aluminum Plant: Emirates Global Aluminum announces a $4B new aluminum production plant in Oklahoma, the first in the U.S. since 1980.
• ReNew Energy Commits $2.57B to Renewables: ReNew Energy Global will expand renewable capacity in India as it moves toward 2030 net-zero targets.

Britain and EU reach a Brexit reset agreement

This morning, Britain and the European Union reached a remarkable agreement at the UK-EU Summit. This agreement aims to strengthen both security and trade relations between the two sides by dissolving some of Brexit’s barriers. With the United States pulling back on European security, there is a need for stronger collaboration across the continent. British Minister for the Constitution and European Union Relations, Nick Thomas-Symonds, stated that today is a “historic day” that will strengthen borders and benefit the workforce. As the EU returns to working closely with Britain, ESG solutions are essential for industries on both sides of the English Channel.

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Further reading: Britain and E.U. Strike Landmark Brexit Reset Deal

Climate scientists welcomed to Europe with a €1.25 billion investment

While the United States removes funding from climate research, the European Union is doing the opposite. Taking strategic advantage of the current political instability in the U.S., the European Commission is investing €1.25 billion for researchers and scientists across the globe. It aims to become a world leader in climate research, while placing special focus on displaced researchers from Ukraine and scientists who are just starting out in their careers. The Commissioner for Startups, Research and Innovation, Ekaterina Zaharieva, said, “Science has no passport, gender, ethnicity, or political party. We want Europe to be the best and most attractive place in the world for science and researchers. We want Europe to continue to be at the forefront of fundamental research.“

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Further reading: Commission invests €1.25 billion in researchers and invites them to ‘Choose Europe for Science’

Emirates Global Aluminum to bring first aluminum plant since 1980 to United States

Friday, Emirates Global Aluminum (EGA) announced plans to develop an aluminum production plant in Oklahoma, USA. This will be the first plant to produce aluminum on U.S. soil since 1980. EGA is the largest producer of premium quality aluminum, and the company plans to invest $4 billion into developing this plant. Currently, the US imports 85% of its aluminum needs. This new plant is expected to create 1,000 jobs and produce over 600,000 tonnes of aluminum annually. Construction is estimated to commence at the end of next year. This announcement comes after U.S. President Donald Trump’s Middle East tour. 

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Further Reading: EGA progresses plans to build first new primary aluminium production plant in the US since 1980, in Oklahoma

India’s ReNew Energy invests $2.57 billion in renewables

ReNew Energy Global is a renewable energy company based in India. As one of India’s top green energy companies, they aim to “create a carbon-free world by accelerating the clean energy transition.” They recently announced an investment of 220 billion rupees ($2.57 billion) to create wind and solar infrastructure in eastern India. The new infrastructure will add up to 2.8 GW of energy to the area. As the country did not meet its 2022 climate goals, India is elevating its efforts to increase sustainability. Its current 2030 goal is 500 GW of renewable energy capacity, aiming to eliminate much of the need for fossil fuels. ESG tools can help businesses stay on track to reach net-zero emissions goals.  

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Further reading: ReNew Energy to set up $2.57 billion solar, wind project in India

Editor’s Note: The opinions expressed here by the authors are their own, not those of impakter.com — Cover Photo Credit:  Matt Brown