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 Qaainat Issa. Read Qaainat’s interview and enjoy!

For the first time, the average global temperature has surpassed the critical benchmark of 1.5 degrees Celsius above pre-industrial levels over 12 months. The findings from the Copernicus Climate Change Service (C3S) indicate that the global mean temperature for February 2023 to January 2024 reached an unprecedented 15.02 degrees Celsius, exceeding the 1.5C threshold set in the 2015 Paris Agreement.

Global investment in the low-carbon energy transition hit a record $1.77 trillion in 2023, up 17%, according to BloombergNEF's Energy Transition Investment Trends 2024 report. Electrified transport, growing 36% to $634 billion, outpaced renewable energy spending at $623 billion. China led in investment with $676 billion, but the EU, US, and UK collectively exceeded China with $718 billion. The report underscores the need for an annual average of $4.8 trillion from 2024 to 2030 to achieve net-zero goals. Clean energy supply chain investment reached $135 billion in 2023, projected to rise to $259 billion by 2025. Trends in climate-tech equity raising ($84 billion) and energy transition debt issuance ($824 billion) show declining equity and rising debt, with utilities leading in debt issuance, and oil and gas companies' issuance decreasing.

A recent Harvard Business School article explored the impact of ESG issues on corporate profitability, presenting a framework tracing their evolution to pivotal factors. Using Purdue Pharma as a case study, it highlights increased understanding of ESG materiality, with companies measuring and reporting on ESG data. The framework offers insights for entities balancing financial and societal motivations, stressing the catalyst role of designating ESG issues as "financially material." The authors aim to shift perception towards proactive management of emerging ESG issues in corporate decision-making.

The European Council approved legislation to slash greenhouse gases, aiming for a 500 million-tonne CO2-equivalent emissions reduction by 2050. Heralded as the world's most ambitious, the rules target a complete phase-out of hydrofluorocarbons (HFCs) by 2050 and a 95% reduction by 2030, restricting the use of F-gases in favor of climate-friendly alternatives.

Sustainability and ESG software provider, Sustaira shares their 2023 year-end review, accelerating growth with a marketplace announcement and API focus in 2024.

Global business leaders are increasingly optimistic about sustainability, with 52% planning to boost investments in 2024. The survey by Capgemini Research Institute involved 2,000 leaders across 15 countries, revealing a rise in confidence, with 56% anticipating future sustainability investments. This shift is driven by increasing awareness of climate disruptions' impact on businesses and government incentives. Government programs like the Inflation Reduction Act and the Green Deal Industrial Plan are influencing climate awareness and sustainable investment plans, with a great number of organizations planning to invest in clean energy technologies.

The European Parliament passed an anti-greenwashing law (593-21) to combat deceptive environmental claims. Pending EU Council approval, the law focuses on clearer product labels, restricting generic environmental claims, and promoting sustainability. Member states have a two-year integration period. The EU Commission also proposed a "Directive on Green Claims" for additional consumer protection.

A new Report by the Oxford Sustainable Law Programme finds that both investors and policymakers may not be paying sufficient attention to the risks of legal risk of fossil fuel investments. Noting that the number of cases before courts worldwide is at 2500 and rising. The Oxford group says is a relatively new field and is mostly focused on physical risk to companies, and investors and regulators who do not account for the possibility of large payouts from climate litigation

First Solar has achieved a significant breakthrough in the solar industry by finalizing Tax Credit Transfer Agreements (TCTAs) with Fiserv, marking the first major credit transfer in solar manufacturing. The agreements involve the sale of $500 million and up to $200 million of 2023 Inflation Reduction Act tax credits. Executed eight days after the proposed rulemaking for Section 45X credits, Fiserv will pay $0.96 per $1 of tax credits in H1 2024. Aligned with the IRA's goal of incentivizing domestic manufacturing, the move is expected to have a financial impact of up to $28 million for 2023, potentially reducing diluted earnings by $0.26 per share. First Solar's strategic plans include substantial investments, expansion, and achieving 14 gigawatts of fully integrated US solar manufacturing capacity by 2026.

2023 set record-breaking temperatures as the hottest year in history. This broke records as 2022 was one of the hottest years in history. This poses severe worry as we advance further in the climate crisis.

The article dives into the hurdles of implementing carbon pricing in the US, highlighting challenges such as upfront costs, political resistance, and the debate over effectiveness. Drawing from successful cases, it suggests tying policies to public concerns, fostering innovation, and emphasizing state-based approaches to avoid federal debates. Despite concerns about global competitiveness, successful US implementation could set a climate leadership example. While immediate political gains might be elusive, the strategy could leave a transformative legacy for future administrations. Overall, it explores strategies and challenges, proposing a state-based approach as the way forward.

In 2023, renewable energies power over half of Germany’s electricity consumption, a 5 percentage point increase from the previous year. This is a monumental step as months like July, May, October, and November showcased high peaks in renewable electricity generation, with record-breaking figures in solar and onshore wind energy. Lower overall electricity consumption contributed positively to the renewable energy quota, reaching 52 percent, while the total renewable energy production surged by 6 percent to 267.0 billion kWh. Leaders emphasized the crucial need for continued policy support and global scaling of renewables, particularly for green hydrogen and direct air capture systems, to meet climate targets and foster a sustainable energy future.

As the year is coming to a close, it is important to learn about “Earth Overshoot Day”. This day occurs every year and it marks the date when humanity’s demand for ecological resources and services in a given year exceeds what Earth can regenerate in that year. In 2023, this date fell on August 2nd, which means that the world exceeded its annual renewable resources four months before the year ended.

A new investing framework called the “Ecological Benefits Framework” can provide a new sense of transparency and accountability in the investing industry.

A research project sampling 428 wind farms and around 500,000 property sales within 5 miles of the farms have found that property values do in fact decline when in close proximity to a wind farm. However, this study does not factor in the social and economic benefits that wind farms bring to a community.

A lack of US climate reporting regulation may pose negative side effects to US companies in the long run as they will have to adhere to stronger EU compliances.

A historic agreement where over 200 nations agreed upon the transition away from fossil fuels, tripling the amount of renewable energy, halting deforestation, and curbing the release of methane by 2030.

As Cop28 is halfway done there has been massive discussion over urgent climate policies. A discussion over a loss and damages fund as well as a fossil fuel reduction plan that mirrors the Paris Agreement.

The EU recently passed a new “eco-design” framework that will redefine the sustainability within product development for the future.