Today’s ESG Updates
- NGO Research Unveils Greenwashing in European ESG Funds – 14,291 funds in the Article 8 and Article 9 categories were investigated.
- Trump Suggests U.S. Takeover of Ukrainian Power Plants – Trump tells Zelenskyy that U.S. control would ensure security for Ukraine.
- Judge Blocks Trump Administration Effort to End ‘Green Bank’ Grants – $14B in grants funding clean energy and climate-friendly projects in the U.S. remain.
- Coreshell Raises $24M for Domestically-Sourced Batteries – U.S. company aims to replace imported graphite and lower costs for EV batteries.
Fossil fuel investments discovered in European ESG funds
Financial research by NGOs Urgewald and Facing Finance has unveiled greenwashing in Article 8 and Article 9 ESG funds. Investments of €123B in fossil fuels were discovered, including €4.5B in coal companies, and the biggest investments in TotalEnergies. The findings unveil gaps in EU regulation of ESG funds and highlight the need for stronger oversight of naming funds. Companies wishing to stay on track with ESG guidelines and avoid greenwashing can utilize ESG Tools.
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Further reading: New NGO research uncovers massive greenwashing in European ESG funds
Trump proposes US ownership of Ukrainian power plants
During a Wednesday call with President Zelenskyy, Donald Trump suggested that the U.S. take ownership of Ukrainian power plants to safeguard energy infrastructure amid the ongoing conflict. He argued that U.S. utility expertise could help Ukraine, but the proposal raises concerns over sovereignty and foreign control of energy assets. The call between Zelenskyy and Trump lasted half as long as Trump’s previous conversation with Putin, who agreed to halt attacks on Ukrainian energy sites, though Kyiv reported continued strikes.
Photo Credit: American Public Power Association
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Further reading: Trump suggests to Zelenskyy that U.S. take ownership of Ukrainian power plants for security
Judge blocks Trump Administration effort to end $14B in ‘green bank’ grants
On Tuesday, a U.S. federal judge temporarily blocked a Trump Administration effort to end funding of clean energy and climate-friendly projects. Earlier this month, the Environmental Protection Agency (EPA) denied Climate United Fund and other groups access to $14 billion awarded last year through the “green bank” Greenhouse Gas Reduction Fund. EPA Administrator Lee Zeldin froze the grants, citing “mismanagement, fraud and self-dealing,” but U.S. District Judge Tonya Chutkan ruled that the claims of fraud were vague and insufficient.
Photo Credit: Saúl Bucio
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Further Reading: Judge blocks Trump administration from terminating $14 billion in ‘green bank’ grants
Coreshell secures $24M to scale domestic silicon-based EV batteries
U.S. battery company Coreshell secured $24M to scale production of its 60 Ah EV battery cells made with 100% domestically-sourced silicon. Backed by Ferroglobe and Zeon Ventures, the funding supports a new California facility and plans for further expansion. Coreshell’s mission to replace imported graphite with more sustainably-sourced silicon promises longer range, lower costs, and a more sustainable supply chain. With commercial deliveries set for 2025, the company aims to help automakers overcome key barriers to EV adoption. For companies looking to further their commitment to ESG, see ESG tools.
Photo Credit: JUICE
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Further reading: Coreshell Raises $24M To Commercialize the Lowest-Cost and Domestically-Sourced Lithium-Ion Battery Anode
Editor’s Note: The opinions expressed here by the authors are their own, not those of impakter.com — Cover Photo Credit: Chris LeBoutillier
