Today’s ESG Updates
- Google’s Carbon Deal: Google buys 100,000 tonnes of carbon offsets from Indian farms to support net-zero emissions goals.
- EU & Société Générale Wind Partnership: €8B investment to boost Europe’s wind energy projects.
- IKEA’s Recycling Investment: IKEA pledges €1B to expand recycling infrastructure by 2030.
- Agreena’s Verra Certification: Agreena becomes the first agricultural project to gain Verra certification for soil carbon credits.
Google signs major carbon removal deal with Indian farms
In a move to further its sustainability goals, Google has signed a landmark deal to purchase carbon removal credits from Indian farms. The agreement will include Google buying 100,000 tonnes of carbon offsets from Indian supplier Varaha. The offsetting includes turning large amounts of agricultural waste into biochar, a type of charcoal that removes carbon dioxide from the atmosphere. Businesses seeking to meet their own carbon neutrality goals can do so with the use of ESG tools.
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Further reading: Google signs deal to buy carbon removal credits from Indian farms
EU and Société Générale announce wind energy investment partnership
The European Investment Bank (EIB) and Société Générale have teamed up to inject €8 billion into the wind energy industry, marking a major step toward accelerating Europe’s energy transition. The joint initiative will fund both onshore and offshore wind projects, helping to further decarbonize the continent’s energy grid. The investment aligns with the EU’s long-term sustainability goals, promoting a shift to renewable energy sources and advancing its commitment to meet carbon reduction targets.
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Further reading: France: EIB and Societe Generale announce agreement to stimulate up to €8 billion investment in the wind industry
IKEA pledges €1 Billion for recycling infrastructure development
IKEA has unveiled plans to invest €1 billion into recycling infrastructure to support its circular economy ambitions. The investment, part of the Ingka Group’s broader sustainability efforts, will help increase the capacity for recycling materials, allowing IKEA to use more sustainable resources in its products. The company aims to reduce its environmental footprint and increase the reuse of materials, aligning with its commitment to becoming a more sustainable business by 2030.
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Further Reading: Ingka Group aims to invest €1 billion to increase recycling infrastructure
Agreena achieves Verra registration milestone for soil carbon market
Agreena has reached a significant milestone by obtaining Verra certification for its soil carbon credits. With this development, AgreenaCarbon has become the first large-scale agricultural cropland project registered under Verra’s Verified Carbon Standard. The certification means that Agreena can now sell carbon credits generated through its innovative soil carbon sequestration practices. The project works with farmers across Europe to implement regenerative farming practices. Businesses wanting to achieve similar certification status can make use of ESG solutions.
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Further reading: Agreena achieves Verra registration landmark for soil carbon market
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