Today’s ESG Updates
- Investors Urge EU to Keep Green Rules: Investors managing 6.6 trillion euros warn that weakening green regulations could harm investment.
- New Zealand Sets 2035 Emission Goals: New Zealand targets a 51-55% emissions reduction by 2035, aiming for net zero by 2050.
- Amazon & Iberdrola Expand Renewable Partnership: Amazon and Iberdrola add 476 MW of renewable energy in Spain and Portugal.
- Shell’s North Sea Projects Halted: A court blocks Shell’s projects over insufficient climate impact measures.
6 trillion euros-worth investors warn EU not to weaken green rules
Investors managing 6.6 trillion euros have urged the EU not to weaken sustainability rules as it plans to simplify green finance regulations. They warn that reopening the regulations risks regulatory uncertainty and potentially jeopardising the aim to attract investment. EU officials have proposed to limit changes to ease reporting for businesses, but some countries are still against the changes. Businesses can make use of ESG tools to adhere to reporting standards.
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Further reading: Investors with 6 trillion euros warn EU not to weaken green rules
New Zealand commits to new 2035 emissions targets
New Zealand has committed to reducing emissions by 51-55% below 2005 levels by 2035, aligning its domestic and international climate goals with the Paris Agreement. The strategy focuses on clean energy, agricultural emissions reduction, and innovation in low-emission technologies. Strengthening the Emissions Trading Scheme and accelerating electrification are key initiatives. The government aims for net-zero emissions by 2050, potentially achieving it as early as 2044, positioning New Zealand as a leader in climate action and green investment.
Photo Credit: Kerin Gedge
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Further reading: New Zealand targets cutting emissions by 51% to 55% by 2035
Amazon and Iberdrola partner to expand renewable energy portfolio
Amazon and Iberdrola have expanded their renewable energy partnership, adding 476 MW of power purchase agreements (PPAs) in Spain and Portugal. The new projects include wind and solar energy, enough to power 300,000 homes annually. Amazon now contracts over 66,000 GWh of renewable energy from Iberdrola. The partnership also integrates cloud services, leveraging AWS for AI and HPC to improve energy efficiency. This collaboration supports Amazon’s net-zero carbon goal by 2040 and accelerates Iberdrola’s renewable energy innovations.
Photo Credit: Iberdrola
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Further Reading: Iberdrola and Amazon further expand their global renewable energy partnership and harness the AWS cloud to scale Iberdrola’s business
Scottish court halts major Shell project for insufficient climate consideration measures
A Scottish court rejected approvals for major Shell oil and gas projects in the North Sea, citing a lack of accountability for the climate impact of the projects. Whilst the ruling approved the continuation of the project, it has forbidden oil and gas extraction until further action. While Shell has put considerable investment into the redevelopment of infrastructure, work is still required to hit sustainability targets. Experts recommend using ESG solutions to reach such targets.
Photo Credit: Jestus Menke
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Further reading: Court Ruling Halts UK Approval of Major Shell, Equinor Oil and Gas Projects Over Lack of Climate Considerations
Editor’s Note: The opinions expressed here by the authors are their own, not those of impakter.com — Cover Photo Credit: Markus Spiske
