Today’s ESG Updates
- Countries target private jet emissions with new tax plan: A new tax on private jets and premium flights will fund sustainable development.
- U.S. bill threatens renewable energy growth: Hidden tax provisions in a Senate bill could end subsidies for wind and solar by 2027.
- Australia launches $1.5B battery program: A new incentive cuts battery installation costs by 30%, helping households stabilize clean energy use.
- Apple to stand trial over alleged smartphone monopoly: A U.S. judge denied Apple’s motion to dismiss DOJ claims it blocks third-party devices and apps to stifle competition.
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Countries pledge to tax premium flying and private jets
Kenya, Barbados, Spain, France, and other countries have agreed to begin taxing private jets and flights in premium classes. This taxation system was announced at the U.N. development summit in Seville, Spain. The primary objective of this aviation tax is to increase green financing methods. The countries hope to take the funds generated from the tax and funnel that money into sustainable development in more vulnerable countries. Rebecca Newsome, global political lead at Greenpeace, said that the plan is “an important step towards ensuring that the binge users of this undertaxed sector are made to pay their fair share.” Further sectors that could be taxed in the future include oil and gas, cryptocurrency, shipping, and the super-rich.
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Further reading: France, Spain among countries to agree to tax premium flyers, private jets
New domestic policy bill could threaten renewable energy in the United States
The United States Senate Republicans have hidden tax provisions in a new domestic policy bill. The proposed provisions would end federal subsidies for wind and solar energy by 2027 and impose a new excise tax on future projects. Industry leaders warn that these measures could hinder renewable energy growth, create market uncertainty, and reverse billions of dollars in planned investments. The bill also eliminates tax credits for electric vehicles and home solar, with experts suggesting that the removal of federal subsidies could result in a 72% decrease in wind and solar installations. This shift could raise electricity prices and worsen climate change risks, as the use of fossil fuels is alternatively encouraged.
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Further reading: Surprise Tax in G.O.P. Bill Could Cripple Wind and Solar Power
Australia to invest $1.5 billion in household batteries
The Australian government has launched an A$2.3 billion (approximately $1.5 billion) project to encourage homeowners to purchase batteries. To motivate the adoption of these batteries, the government is offering a 30% discount on battery and installation costs. The batteries must be connected to a household solar system, capturing excess energy. Currently, only one in 40 households has both solar panels and battery storage systems. The renewable energy market in Australia is highly volatile, as wholesale power rates often drop below zero during periods of peak sunshine and spike during the evenings. The use of these batteries in the home will reduce these fluctuations and provide a more efficient use of renewable energy.
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Further reading: Australia Launches $1.5 Billion Plan to Boost Home Batteries
Apple to face monopoly lawsuit, despite motion to dismiss
The United States Department of Justice (DOJ) has accused tech giant Apple of unlawfully creating a monopoly in the smartphone market. In 2024, Apple made $201 billion in smartphone sales alone. Although the company filed a motion to dismiss, it was denied by the U.S. District Judge Julien Neals. The lawsuit will hold Apple accountable for its current roadblocks to third-party devices, such as digital wallets and smartwatches, as well as the restrictions placed on these third-party apps. The DOJ claims that these restrictions and roadblocks undermine competition, as Apple attempts to replace third-party technology with its own. This is one in a string of antitrust lawsuits affecting the tech industry. Google, Meta, and Amazon are all facing similar lawsuits.
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Further reading: Apple loses bid to dismiss US smartphone monopoly case
Editor’s Note: The opinions expressed here by the authors are their own, not those of impakter.com — Cover Photo Credit: Chris Leipelt
