The European Securities and Markets Authority (ESMA) has unveiled its first Climate Transition Plan, setting ambitious emissions reduction targets for 2027 and 2030. This move signals a strong internal alignment with the EU’s climate goals and sets a precedent for regulatory bodies across Europe.

The European Commission has proposed a new climate target: a 90% reduction in net greenhouse gas emissions by 2040, compared to 1990 levels. This ambitious move aims to solidify Europe’s leadership in clean energy, boost industrial innovation, and ensure a fair, resilient transition to climate neutrality by 2050.

Countries have reached a historic agreement to cut greenhouse gas emissions from global shipping, aiming for net-zero emissions by 2050. This landmark deal introduces mandatory fuel standards and a carbon pricing mechanism to drive the shipping industry towards cleaner practices.

Decarbonization is not just a necessity for the planet but a strategic opportunity for businesses. This article explores how companies can align their decarbonization efforts with growth, profitability, and stakeholder trust.

New Zealand has set an ambitious target to reduce its greenhouse gas emissions by 51-55% below 2005 levels by 2035. This commitment aligns with the Paris Agreement and aims to position New Zealand as a leader in global climate action.

Boston Consulting Group's (BCG) latest report reveals that 85% of investors plan to prioritize sustainability in the next three years, driving private equity firms to accelerate their net-zero efforts.

The latest GRESB (Global Real Estate Sustainability Benchmark) 2024 ESG Benchmark reveals a significant increase in net zero targets among real estate participants, with 65% now committed to achieving net zero emissions. This marks a notable shift towards sustainability in the real estate sector.

The Science Based Targets initiative (SBTi) has removed the net-zero commitment status for 239 companies, including major players like Microsoft, Procter & Gamble, Unilever, and Walmart, due to challenges in meeting ambitious emission reduction targets. These companies collectively represent over $4 trillion in market capitalization and struggle particularly with reducing Scope 3 emissions. SBTi is reviewing its Corporate Net-Zero Standard to provide clearer guidelines by 2025. Despite the setback, companies are reaffirming their sustainability commitments and engaging with SBTi to validate their targets, emphasizing ongoing efforts to align with the Paris Agreement goals.

The World Resources Institute recently published, “The State of Climate Action 2023”. This report provided insight into a roadmap that the world can follow to reach the agreed-upon 1.5℃ degree target in each high-impact area of the market.

On November 20th, the United Nations released its 2023 Emissions Gap Report with an eye-catching headline, “Broken Record; Temperatures hit new highs, yet world fails to cut emissions (again)”. This report is the 14th annual edition in a series written by the world’s top climate scientists to look at future trends in global warming.