Today’s ESG Updates
- EU Reduces Red Tape for Small Firms – The Simplification Omnibus will bolster smaller EU firms to help them compete on the global market.
- Puro.earth Reaches 1 Million Tonne Milestone – Businesses working with Puro.earth have collectively removed 1 million tonnes of carbon.
- British Government Cracks Down on Pesticides – New plan introduces techniques to lower pesticide usage, National Farmers Union raises concerns.
- UK Sports Broadcasters Fined £4 Million – BBC, IMG, ITV and BT fined for sharing information on pay rates for camera operators and sound technicians.
EU plans red tape cuts for small firms to strengthen global competition
The EU’s recent “Simplification Omnibus” reforms will reduce red tape for smaller businesses in an effort to bolster their presence on the global market. Large companies, like Austrian Manufacturer RHI Magnesita, remain dissatisfied with the new regulations, stating the changes do little to cut costs – RHI spends €1 million annually on EU corporate sustainability compliance. Some argue that reducing regulations undermines corporate accountability, especially regarding human rights and environmental issues. Businesses aiming to align with sustainable practices can do so with ESG solutions.
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Further reading: EU’s red tape cuts leave big businesses wanting more
1 million tonnes of carbon removed by Puro.earth
The carbon-crediting platform, Puro.earth, has issued over 1 million CO2 Removal Certificates (CORCs), representing more than 1 million tonnes of verified carbon removal. Founded in 2018 and acquired by Nasdaq in 2021, the platform connects carbon removal suppliers with companies aiming to reduce their carbon footprints. The market has grown exponentially, with a significant increase in issuances from 500,000 CORCs in Q1 2024 to 1 million within a year. Puro.earth focuses on scalable, high-impact solutions like Direct Air Capture and Biochar, with strong buyer interest from sectors such as aviation, steel, and shipping.
Photo Credit: Jan Huber
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Further reading: Nasdaq-backed Carbon Credit Platform Puro.earth Passes 1 Million Tonne Carbon Removal Milestone
British government unveils plan to lower pesticide risk
The UK government has introduced a plan that encourages farmers to use alternative pest control methods and adopt Integrated Pest Management (IPM) techniques. Aiming for a 10% reduction in pesticide-related harm by 2030, it also includes stricter enforcement of regulations and the use of a Pesticide Load Indicator to monitor progress. The National Farmers Union (NFU) has raised concerns about a lack of clarity on supporting farmers, especially without Sustainable Farming Scheme options, and stressed the need for a balance between environmental goals and agricultural productivity.
Photo Credit: Veronica White
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Further reading: Government launches action plan to reduce risk from pesticides
UK Regulator fines sports broadcasters £4 million for freelance pay collusion
Britain’s competition regulator, the CMA, found five sports broadcast companies sharing sensitive information on freelance pay rates; BT, IMG, SKY, ITV, and the BBC. The companies admitted to colluding on fees for camera operators and sound technicians. Sky self-reported and was exempt from any fees while the other companies received reduced penalties for their cooperation totalling £4 million. The CMA found 15 instances of unlawful pay information sharing in total, stating it undermined competitive pay rates for freelancers. Companies can keep in line with sustainable practices using ESG tools.
Photo Credit: Norbert Braun
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Further Reading: UK antitrust watchdog fines sports broadcasters $5.2 million over freelance pay
Editor’s Note: The opinions expressed here by the authors are their own, not those of impakter.com — Cover Photo Credit: Antoine Schibler
