Today’s ESG Updates
- EU to Exempt 80% of Importers from CBAM Tax: EU plans to reduce its carbon border levy to 20% of companies, covering 97% of emissions.
- Bezos Halts Climate Fund Support: Jeff Bezos’s Earth Fund stops backing the SBTi amid concerns of retreating from climate action.
- Google Invests $100M in Carbon Removal: Google commits $100M to carbon removal projects, including forest restoration and direct air capture.
- Octopus Energy Launches Green Investments: Octopus Energy introduces ‘The Collective,’ allowing £25 investments in renewable projects with no fees.
EU to exempt 80% of importers from CBAM carbon tax
The European Commission may reduce its carbon border levy (CBAM) to just 20% of companies, as they account for 97% of the emissions covered. From 2026, the policy known as CBAM will put a cost on CO2 emissions embedded in imported goods at EU borders. This policy should allow for a more even playing field and keep EU companies from moving overseas. Experts agree that businesses can stay competitive with ESG solutions further.
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Further reading: EU considers exempting most companies from carbon border levy
Jeff Bezos halts major $10 billion climate and biodiversity fund
Jeff Bezos’s $10bn Earth Fund has halted its support for the Science Based Targets initiative (SBTi), a key climate certification body. The funding grant, which expired in December 2024, raised concerns about wealthy individuals retreating from climate causes due to political pressures. Critics believe the decision reflects broader trends of US billionaires distancing from climate action, influenced by Trump’s anti-climate stance. While the Earth Fund hasn’t ruled out future funding, the move has been seen as part of a larger retreat from green commitments.
Photo Credit: Wikimedia Commons
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Further reading: Jeff Bezos fund ends support for climate group amid fears billionaires ‘bowing down’ to Trump
Google invests over $100 million in carbon removal credits in 2024
In 2024, Google committed over $100 million to carbon removal credits, tripling its previous investment. This includes supporting initiatives like Symbiosis for forest restoration, enhanced rock weathering (ERW) to accelerate natural CO2 removal, and biomass capture projects. Google is also advancing direct air capture technologies to make carbon removal more cost-effective. The company aims to catalyze scalable solutions and collaborate with others to maximize global climate impact and accelerate progress toward net zero.
Photo Credit: BoliviaInteligente
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Further Reading: Our progress to accelerate carbon removal solutions
Octopus Energy launch green share investments from £25
Octopus Energy has launched “the Collective,” a groundbreaking investment platform allowing people to own a share of green energy projects like wind turbines, with a minimum investment of £25 and no fees. This scheme makes Octopus the first energy company in the UK with a retail investment platform regulated by the Financial Conduct Authority (FCA). It is in direct response to 1 in 3 Brits wanting to invest in green power, with businesses also turning to ESG tools to invest sustainably.
Photo Credit: Wikimedia Commons
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Further reading: Octopus Energy brings power to the people with the launch of ‘the Collective’ investment platform
Editor’s Note: The opinions expressed here by the authors are their own, not those of impakter.com — Cover Photo Credit: Lāsma Artmane
