Today’s ESG Updates
- Net-Zero Banking Alliance Dissolves: Established in 2021 to drive banking’s climate commitments, the alliance has voted to wind up after major member exits and U.S. antitrust concerns.
- India Cancels Rushed Solar Tenders: The renewable energy ministry has instructed agencies to scrap and reissue tenders pushed through to bypass clean energy rules, reinforcing a shift toward local solar manufacturing.
- Thai Industry Pushes for Climate Action: Businesses are urging the new government to accelerate the Climate Change Act and Power Development Plan to provide clarity for investment in decarbonisation.
- Global Cement & Concrete Net-Zero Drive: The GCCA has launched a new membership category to involve the wider construction ecosystem in efforts to decarbonise one of the world’s most carbon-intensive industries.
Net-Zero Banking Alliance collapses after wave of member exits
Established in 2021, the Net Zero Banking Alliance is the banking industry’s primary body leading the sector’s global effort to reduce carbon emissions. Following the departure of many major banks in August, an overhaul was proposed to create a “framework initiative” rather than a membership-based organization. The alliance has voted to dissolve the group, which has already lost many of its members after allegations from some U.S. lawmakers that its membership breaches antitrust regulations. “As a result of this decision (vote), NZBA will cease operations immediately,” a spokesperson for the group said. The resources developed by the group over several years will remain accessible to banks seeking guidance on setting decarbonisation targets.
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Further reading: Net-Zero Banking Alliance folds after mass exodus by members
India tells renewable agencies to cancel hasty solar tenders
According to a circular posted on its website on Friday, India’s renewable energy ministry has asked clean energy agencies to cancel and reissue tenders for government projects that were rushed through in an attempt to circumvent certain rules. While most Indian companies currently use cheaper solar cells made in China, rules under India’s clean energy policy, which come into effect on 1 June, require the use of locally made modules and cells in government projects. Tenders are issued by renewable energy agencies, which are intermediaries between the government and private companies. Once these projects have been completed, the electricity is sold to state-owned power companies. In the circular, the ministry said that some agencies had given companies only seven days to submit bids, but did not provide details on the values of the projects or which agencies were involved.
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Further reading: India tells renewable energy agencies to cancel rushed solar tenders
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Thai Industry Expects New Government to Fast-Track Climate Law, Power Plan
Eager for the country’s new government, which came into power last month, to implement long-awaited regulatory frameworks aimed at tackling climate change and accelerating decarbonisation, Thai businesses are calling for action. The two policies that the industry is most anticipating are Thailand’s Power Development Plan (PDP), which could pave the way for greater adoption of renewable energy, and the country’s Climate Change Act, according to Dr Thanyaporn Krichtitayawuth, Executive Director of the United Nations Global Compact Network (UNGC) Thailand. Speaking at the Thailand edition of Eco-Business’s flagship summit, Unlocking Capital for Sustainability 2025, on Tuesday, she said that regulatory uncertainty had thus far been the biggest hindrance to Thai companies increasing their investments in decarbonisation agendas and solutions.
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Further reading: Thai industry hopes new government will hasten climate change act, power development plan
Global Cement and Concrete Association Launches Membership to Accelerate Net-Zero Transition
The Global Cement and Concrete Association (GCCA) has announced a new membership category designed to strengthen collaboration across the building and construction value chain, with the goal of accelerating the industry’s net-zero ambitions. According to the association, decarbonising cement and concrete — the second most widely used material after water — cannot be achieved without the active engagement of the wider building ecosystem and policymakers. This new initiative, called the Net Zero Value Chain Partners (NZVCP), aims to extend the GCCA’s reach beyond cement and concrete producers by opening membership to organisations that play a key role in construction and decarbonisation efforts.
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Further reading: Global Cement and Concrete Association Launches New Membership to Drive Net Zero in Industry
Editor’s Note: The opinions expressed here by the authors are their own, not those of impakter.com — In the Cover Photo: Skyscrapers in Los Angeles. Cover Photo Credit: Wikimedia Commons
