Today’s ESG updates feature Mercedes-Benz opening a technologically advanced battery recycling factory and Mercedes F1 cutting 500 tonnes of CO2e with biofuels. Additionally, WWF and TNFD are launching a new platform for nature-related financial data, and ICC is introducing principles for sustainable trade finance to combat greenwashing.
Mercedes F1 cuts 500 tonnes CO2e with biofuel in 2024 races
Mercedes F1 achieved 98% biofuel coverage for its 2024 European races, saving over 500 tonnes of CO2e. Using HVO100 biofuel in trucks and generators, up from 74% in 2023, this aligns with their goal of reaching Net Zero by 2030. In partnership with PETRONAS, the team plans to expand biofuel use to global races next season, as part of their broader sustainable fuels strategy.
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Further reading: Mercedes F1 Cuts 500 Tonnes of CO2e with Biofuels in European Season
Mercedes-Benz opens Europe’s first battery recycling factory with innovative recycling process
Under the watchful eye of Chancellor Schulz, Mercedes-Benz has launched its innovative battery recycling plant in Kuppenheim, Germany. Powered by cutting edge technological advancements called mechanical-hydrometallurgical process, The facility can recover over 96% of valuable raw materials. The plant will recycle 2,500 tons of batteries annually, producing materials for 50,000 new battery modules. This project, supported by the German government, is part of Mercedes-Benz’s commitment to a circular economy and CO₂-neutral production.
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Further reading: Battery cycle closed with our own recycling factory
WWF and TNFD partner to advance nature-related financial data solutions
The WWF and Taskforce on Nature-related Financial Disclosure (TNFD) have teamed up to create a platform that handles nature data, aiming to improve how financial institutions assess biodiversity risks. This collaboration combines TNFD’s data expertise with WWF’s geospatial ESG tools. The platform will provide valuable insights into the natural value, promoting biodiversity conservation.
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Further reading: WWF and TNFD unite to launch nature data public facility
ICC launches principles for sustainable trade finance to combat greenwashing risks
The International Chamber of Commerce (ICC) has introduced its Principles for Sustainable Trade Finance (PSTF) at Sibos 2024 in Beijing. The overarching goal is to mitigate the risk of greenwashing and to address gaps in existing frameworks. The guidelines were developed in collaboration with major trade banks and industry leaders, providing clear guidelines for sustainable trade finance. Keeping sustainability data aligned with the latest regulations is challenging, which is why many industry leaders opt for AI-powered ESG-reporting software.
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Further reading: ICC introduces new principles for sustainable trade finance to combat greenwashing
Editor’s Note: The opinions expressed here by the authors are their own, not those of impakter.com — Cover Photo Credit: Sandor Foszto
