EU Delays Proposals to Limit Reliance on Russian Nuclear Fuel

Today’s ESG Updates

• EU Delays Proposals to Limit Reliance on Russian Nuclear Fuel: The EU Commission will not limit the EU’s reliance on Russian nuclear fuel nor ban Russian gas
• Oil Prices Fall Despite Israel-Iran Strikes: Tensions rise following strikes exchanged between Israel and Iran as oil straits and routes at risk.
• OPEC Predicts Steady Second-Half of 2025 World Economy: Despite trade conflicts, the world economy is set to remain resilient in the second half of 2025.
• ESG Startups Based in Australia Captured 41.5% of Early Stage Venture Capital: Climate technology startups outrun other sectors in VC funding.

EU delays proposals to limit reliance on Russian nuclear fuel

Despite the EU Commission previously aiming to limit the EU’s reliance on Russian nuclear fuel as well as completely ban Russian gas, the Commission has decided to delay such proposals. Instead, according to a senior EU executive, the Commission is due to propose legal measures this week that will end the EU’s gas imports by the end of 2027. The Commission also announced that it would propose measures targeting enriched uranium, making Russian imports appear less attractive. Russia supplied 28% of the EU’s enriched uranium and 23% of its raw uranium in 2023, as revealed by the think tank Bruegel. Although Brussel’s recent announcement includes a fixed end date for the EU’s reliance on Russian gas, there has been no clear deadline for the EU quitting Russian nuclear supplies. This highlights how there is an at times conflicting relationship between the EU’s reliance on Russia for fuel and the risk to security of supply in the case that these are annulled. 

***

Further reading: EU pushes back proposals to curb reliance on Russian nuclear fuel

Oil prices fall despite Israel-Iran strikes

Oil prices inched down on Monday, following Friday’s 7% increase as Israeli and Iranian air strikes oil production and export facilities remain unaffected. Harry Tchilinguirian, head of research at Onyx Capital Group, said, “it all boils down to how the conflict escalates around energy flows… So far, production capacity and export capacity have been spared and there hasn’t been any effort on the part of Iran to impair flows through the Strait of Hormuz”. An exchange of strikes between Israel and Iran on Sunday resulted in civilian casualties. Since the onset of these recent strikes, some gas infrastructure has been hit. Iran partially suspended gas production at its South Pars field following an attack by Israel on Saturday. It must be noted that there are particular concerns that the conflict will lead to disruptions in the Strait of Hormuz through which a fifth of the world’s total oil consumption passes. Although oil prices remain unaffected for now, there is no certainty for the future as the region faces political instability.

***
Further reading: Oil slips as Israel-Iran strikes spare key energy infrastructure

OPEC predicts steady second-half of 2025 world economy

OPEC (Organisation of the Petroleum Exporting Companies) announced on Monday that it expected the global economy to remain steady in the second half of this year despite concerns about trade conflicts this year. It lowered its forecast for growth in oil supply from producers outside the wider OPEC group in 2026. OPEC stated in the report that, “This strong base from the first half of 2025 is anticipated to provide support and sufficient momentum into a sound second half of 2025. However, the growth trend is expected to moderate slightly on a quarterly basis”. OPEC also said that supply from countries outside the Declaration of Cooperation will rise by about 730,000 barrels per day in 2026. 

***

Further Reading: OPEC expects solid second-half of 2025 for world economy, trims 2026 supply

ESG startups based in Australia captured 41.5% of early stage venture capital

According to a new report, ESG startups based in Australia attracted 41.5% of all early-stage venture capital in 2024. The report, Impact Startups Benchmark Report 2025, has been published based on data from impact investor Giant Leap and more than 2,800 startup investment deals over the course of three years. The percentage, though higher than the 38.9% share logged in 2022 but lower than the 55.6% share recorded in 2023. A clearly positive sign that startups with sustainability at their core are being listened to and invested in. ESG solutions can help investors better understand sustainability compliance and ever changing standards. 

***

Further reading: California Sues Trump Administration Over Right to Clean Air

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