In a recent development, 40 Members of the European Parliament (MEPs) proposed a motion to reject the European Sustainability Reporting Standards (ESRS). These MEPs advocated for simpler, less burdensome sustainability disclosure rules. The Parliament ultimately voted against this motion, with 359 votes against out of the 631 MEPs. On the same day however, the European Commission did announce plans to delay the ESRS implementation timeline.

The Task Force on Climate-Related Disclosures (TCFD) recently published its sixth and final status report, shedding light on both the progress in corporate climate reporting and the persisting data collection challenges. The TCFD, formed in 2017, aimed to enhance consistency and comparability in climate-related financial information among companies.

The U.S. Department of Energy (DOE) has unveiled a significant investment of $7 billion to establish seven Regional Clean Hydrogen Hubs (H2Hubs) across the nation as part of President Biden's "Investing in America'' agenda. These hubs are a central component of the Bidenomics strategy and will accelerate the large-scale deployment of clean hydrogen, playing a crucial role in achieving the President's climate and energy security goals.

On October 7, 2023, California Governor Gavin Newsom made a significant move in the fight against climate change by signing into law two landmark bills - SB-253, the "Climate Corporate Data Accountability Act," and SB-261, "Greenhouse Gases: Climate-Related Financial Risk." These laws represent the first industry-agnostic climate regulations in the United States, and mandate the disclosure of greenhouse gas emissions and climate-related financial risks by large public and private companies operating in California.

BlackRock, the world's largest asset manager, is introducing a new fund to the private credit market that embraces the burgeoning trend of ESG (Environmental, Social, and Governance) investing in the US. Known as the Climate Transition-Oriented Private Debt (CPD) Fund, this initiative is part of BlackRock's extensive investment platform, valued at over $100 billion.

The EU took a pioneering step on October 1st by launching the world's first Carbon Border Adjustment Mechanism (CBAM), a system designed to impose CO2 emissions tariffs on carbon-intensive goods imported into the EU.

A recent KPMG survey found that just 25% of surveyed business leaders express confidence in meeting future ESG reporting requirements, despite an increasing reliance on ESG strategies for added business value. The "KPMG U.S. ESG Survey" involved over 200 business leaders responsible for their companies' ESG strategies, primarily from North American companies with revenue exceeding $1 billion across diverse industries.

Today, Sustaira, a leading provider of sustainability software solutions, announces its strategic partnership with TimeToAct, a prominent software and consulting group based in Germany, specializing in diverse software solutions and consulting services.

Sustaira’s Sustainability and ESG app platform offers a portfolio of customizable apps that help companies in their sustainability and ESG journey. TimeToAct has joined Sustaira’s rapidly growing Sustainability ecosystem to resell the platform as well as offer expert ESG and Sustainability consulting in the DASH region. With a focus on consulting and sharing Sustaira’s low-code ESG solutions, this is an essential and strategic partnership to provide local expertise and truly tailored solutions to the organizations in this region.

Yesterday, The European Commission adopted a detailed set of reporting regulations for the transitional phase of the Carbon Border Adjustment Mechanism (CBAM). Set to begin on October 1, 2023 and extend through the year 2025, this transitional phase aims to lay the groundwork for the CBAM's full implementation.

In efforts to combat climate change, the Biden-Harris Administration has announced an investment of $1.2 billion dedicated to launching the nation's first-ever Direct Air Capture (DAC) program. This program will launch two new demonstration projects in Texas and Louisiana to essentially vacuum carbon dioxide out of the air. Once captured, this carbon dioxide will be stored underground or used in industrial materials such as cement. This initiative, unveiled on August 11th, 2023 truly highlights the Biden administration's unwavering commitment to innovative solutions aimed at curbing greenhouse gas emissions and preserving our planet for future generations.

Sustainability and ESG across the globe has become a massive priority to businesses. KPMG recently released their 2022 EMA ESG Due Diligence Study where they shared the results of their survey to find out what Environmental, Social, and Governance (ESG) due diligence (DD) means for dealmakers across Europe, the Middle East, and Africa. After surveying more than 150 active dealmakers the insights were profound. From struggling to define ESG DD, to division on how to integrate ESG DD into existing frameworks and strategy, all the way to seeing very clearly that ESG DD is a key priority, KPMG provides EMA dealmakers and strategy leaders with new ideas and motivation to drive forward their ESG DD capabilities. Today, Sustaira summarizes these findings for you!

Here at Sustaira, we get to know all of our employees very well and we want you to know them too! For every new team member, we ask them the following questions to learn about who they are and why sustainability matters to them. Today, we introduce Radhi Gokiladasan. Read Radhi’s interview and enjoy!

This summer, across the globe we have seen record-breaking temperatures that are leaving scientists concerned, many saying that these climate records are unprecedented given their speed and timing. Records broken include the hottest day on record globally in June and July, extreme marine heatwaves in the North Atlantic, highest Ocean temperatures, and record low Antarctic sea ice.

This month, Amazon published its 2022 Sustainability Report. This report touches on renewable energy, electric fleets, waste, total emissions including supply chain emissions, sustainable design, supplier diversity, human rights, and sustainable products, clearly highlighting how the company is building a more sustainable future. One of the most notable highlights is Amazon’s decision to update its supply chain standards to require regular reporting and emissions goal setting. The decision to require reporting within their supply chain is one that is likely to create change across the board. Let’s dive in!

In a recent blog post, The Evolving Role of Chief Sustainability Officers published in the Harvard Business Review, the authors explore how the responsibilities and influence of Chief Sustainability Officers (CSOs) have changed. Notably, this role has become increasingly critical as organizations worldwide grapple with the challenges of sustainable development and corporate social responsibility. Today, we will summarize that article for you, highlighting the key takeaways you need to know!

This week, Singapore has proposed mandatory climate reporting for both private and public companies. This new regulation represents a significant move towards Sustainability and ESG in the Asia Pacific Region and aims to drive greater transparency, accountability, and responsible corporate behavior. Aligned with the International Sustainability Standards Board (ISSB) this new regulation is lining Singapore up to rapidly become a sustainability leader in the region.

This week, global management and consulting firm, McKinsey & Company released a new report highlighting that a $4 trillion investment would be required to tackle the material shortages of key materials and achieve global decarbonization targets. This investment would be required to bridge the materials gap that is crucial to sustainability.

This week, The World Bank approved $1.5 billion in financing to support India's low-carbon transition. This approval represents a massive step towards addressing climate change and promoting sustainable development in India.

Since June 2019, the concept of achieving net zero emissions has gained significant traction across the globe. In 2021 following the UN Climate Summit in Glasgow (CO26) 90% of the global economy was on board with net zero plans. As the urgency to combat climate change grows, governments, subnational entities, and corporations are setting net zero targets to align with the goal of limiting global warming. As defined by the Net Zero Stocktate 2023 report there are three phases of net zero; accepting the principles of net zero, pledging to get there, and delivering on those pledges. Today we will provide a brief summary of the Net Zero Stocktake 2023 report, which analyzes the status and trends of net zero target setting.

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Sustaira Summarizes: Net Zero Stocktate 2023

Collision is a leading tech conference where industry leaders, entrepreneurs, and investors come together to explore the latest in technological innovation. With a diverse range of topics such as AI, blockchain, cybersecurity, digital marketing, and sustainability, Collision provides a platform for networking, learning, and showcasing groundbreaking ideas and technologies. Attendees can partake in keynote presentations, panel discussions, and workshops while also discovering potential business opportunities. Collision is sure to foster collaboration and knowledge-sharing, making it a must-attend for professionals, startups, and tech enthusiasts alike. With that in mind, Sustaira is thrilled to announce our attendance alongside Siemens at Collision June 26-29th 2023.