Written by Anthony Walters – Clever‘s Head of ESG, ESG in 5 is a roundup of 5 key pieces of ESG news and performance, from the past week.
EU Lawmakers Plant Seeds of Change
Green Premium or Greenwash? Consumers Weigh the Eco-Cost
BlackRock’s Carbon Capture Coup: $550 Million for Cleaner Air
$4 Billion Splash in Quebec’s Green Pool
Key markets produced symmetrical moves last week as both the MSCI ACWI ESG Focus and the MSCI ACWI Indices gained 1.75% for the week.
EU Lawmakers Agree on New Nature Restoration Law
Lawmakers in the European Parliament and Council announced that they have reached a provisional agreement on new legislation aimed at restoring and protecting natural habitats and ecosystems. This includes a mandated target for EU countries implement measures to restore at least 20% of the EU’s land and sea areas by 2030, and for all ecosystems in need of restoration by 2050.
Consumers Willing to Pay 12% Premium for Sustainable Products: Bain Survey
Consumers globally are willing to pay more for products with a lower environmental impact, as they express increasing concern over climate change and environmental sustainability. Despite this willingness, many still find sustainable consumption too expensive and focus on different aspects of product sustainability than the companies producing the products, according to a new study released by global management consultancy Bain & Company.
BlackRock Invests $550 Million in World’s Largest DAC Carbon Capture Project
Investment giant BlackRock and energy major Occidental (Oxy) announced today a new partnership which will see BlackRock invest $550 million on behalf of clients in STRATOS, set to become the world’s largest Direct Air Capture (DAC) facility, currently under construction by Oxy’s carbon capture-focused subsidiary 1PointFive. 1PointFive is currently constructing Stratos in Ector County Texas, which it expects to be the largest DAC facility in the world to date, designed to capture 500,000 tonnes of CO2 per year when fully operational.
TES Launches $4 Billion Green Hydrogen Project in Canada
Green energy developer TES Canada announced the launch of Projet Mauricie, a new C$4 billion (USD$2.9 billion) green hydrogen project in Quebec, Canada, aimed at supporting the decarbonization of hard-to-abate industries and contributing to the province’s climate goals. Hydrogen is viewed as one of the key building blocks of the transition to a cleaner energy future, particularly for industrial and transport sectors with difficult to abate emissions, in which renewable energy solutions such as wind or solar are less practical.