Today’s’ ESG Updates
- COP29 concludes: Key agreements include a $300 billion climate finance pledge and operationalization of the Loss and Damage Fund.
- HSBC appoints new CSO: Julian Wentzel steps in as interim Chief Sustainability Officer, focusing on advancing the bank’s sustainability goals.
- Carbon accounting takeover in Europe: Normative acquires Eivee, expanding its market presence and enhancing compliance solutions for major corporations.
- ESG Reporting Summit in Dubai: Middle East ESG Reporting & Data Summit 2024 begins, addressing sustainability strategies and regulatory trends in the region.
COP29 finance deal criticized despite carbon market progress
The COP29 climate finance pledge of $300 billion annually from wealthy nations to aid vulnerable countries faces criticism for being insufficient compared to the estimated $1.3 trillion deemed as necessary by many experts. Progress on carbon markets was marked by the approval of Article 6.4 and 6.2 mechanisms, enhancing emission reduction collaboration. Additionally, the Loss and Damage Fund, operational from 2025, secured $730 million in commitments to support climate-affected nations.
***
Further Reading: Key takeaways from COP29: a contentious finance deal, carbon markets, more
HSBC appoints Julian Wentzel as interim group chief sustainability officer
HSBC has announced the appointment of Julian Wentzel as Interim Group Chief Sustainability Officer. Wentzel, with over 25 years of banking experience, brings expertise in global challenges and relationships. With this appointment, HSBC hopes to align its strategies with its sustainability commitments.
***
Further reading: Senior Management Changes
Normative acquires Eivee to expand carbon accounting reach in Europe
Normative, a Danish carbon accounting and net-zero solutions provider, has acquired Eivee to strengthen its position and help clients comply with regulations. Normative can now help larger European clients track emissions and meet carbon reduction targets. The Eivee acquisition builds on Normative’s existing carbon accounting and compliance strategies. To stay ahead of all regulation changes and track all their company’s sustainability efforts, organizations increasingly use AI-powered ESG rating software.
***
Further reading: Normative Acquires Eivee to Strengthen Carbon Accounting
Middle East ESG Summit 2024 kicks off in Dubai
The 2nd Middle East ESG Reporting & Data Summit begins today in Dubai, bringing together industry leaders to discuss sustainability strategies and regulatory trends. Featuring speakers from Atlantis Dubai and Expo City Dubai, the event is backed by sponsors like StepChange and My ESG Planet. This summit underscores the region’s commitment to advancing ESG practices. To stay on top of all regulation changes regarding ESG ratings, industry leaders use automated ESG rating software.
***
Further reading: Middle East ESG Reporting and Data Summit 2024 Kicks Off Today in Dubai
Editor’s Note: The opinions expressed here by the authors are their own, not those of impakter.com — Cover Photo Credit: marinabridger
