Day: 13 March 2023

New report explores how the ‘social’ dimension of ESG is interpreted by businesses today 

Stuart Mitchell

A new report from The Young Foundation, the UK’s home for community research and social innovation, explores how the ‘social’ dimension of ESG is interpreted by businesses in the UK.  The report, The Quest for the ‘S’ in ESG, draws on analysis of FTSE100 companies and a large survey of SME and large UK businesses and finds strong evidence that UK businesses have been seized by the material, moral – and regulatory – responsibility to take action on the climate crisis, but uncovers a lack of attention, measurement and commitment to social outcomes as part of ESG…

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Carbonplace Announces New CEO; Secures USD 45 Million in Funding  

Stuart Mitchell

Carbon credit transaction network Carbonplace has raised USD 45 million in a strategic round of investment and formed its own entity, it was announced today.  Carbonplace, which connects buyers and sellers of carbon credits through their banks, secured the seed funding from the financial institutions which founded the fintech: BBVA, BNP Paribas, CIBC, Itaú Unibanco, National Australia Bank, NatWest, Standard Chartered, SMBC and UBS. Through the investment, each bank shares equal equity ownership in the new company which is expected to launch its platform later this year.   Headquartered in London,…

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WFW advising RMI and leading banks on development of aviation climate-aligned finance framework

Stuart Mitchell

Watson Farley & Williams (“WFW”) is advising RMI and a group of leading banks on the development of a climate-aligned finance (“CAF”) framework to support decarbonisation in the aviation sector. The lenders involved include Bank of America, BNP Paribas, Citibank, Crédit Agricole CIB, Société Générale and Standard Chartered Bank who are partnering with RMI’s Centre for Climate-Aligned Finance as part of an Aviation Climate-Aligned Finance Working Group (the “Working Group”) to create the CAF framework. The CAF framework represents a commitment by participating financial institutions to annually assess and disclose,…

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New CDP data shows companies are recognizing the need for climate transition plans but are not moving fast enough amidst incoming mandatory disclosure.

Stuart Mitchell

The CDP, the world’s environmental disclosure platform, launched a report analyzing disclosure from 18,600+ companies across 13 industries in 135 countries. The report assesses climate transition plan disclosure against 21 key indicators within CDP’s climate change questionnaire and found that only 81 companies (0.4%) disclosed to all relevant [SEE NOTES TO EDS]1. In the 2021 assessment 135 companies disclosed against all relevant indicators. The reduction seen this year is based on CDP raising the bar, in accordence with latest science, on what constitutes a credible climate transition plan. CDP’s report…

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Compass Group UK & Ireland announce FoodCycle as key charity partner

Stuart Mitchell

Compass Group UK & Ireland, the UK’s largest food and support services business, has announced a partnership with the charity FoodCycle. The partnership not only sees Compass provide a grant through the newly launched Compass Group Foundation, but also will see its teams fundraise, volunteer and train FoodCycle cooking volunteers. FoodCycle was set up to tackle food poverty, loneliness and food waste. It provides weekly community dining, using food donations from the local communities it works in. It runs community meals at 66 locations around the country and is looking…

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