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.
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Volvo’s Carbon Diet: Cars Aim for a 75% Slimmer Emission Figure by 2030
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Inks Deal for 10,000 Tons of Carbon Removal
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First Transatlantic Flight on 100% Sustainable Aviation Fuel
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$3 Billion Fund for Clean Energy in Growth Markets
Market Recap
Both the MSCI ACWI ESG and MSCI ACWI indices were positive for the week, returning 0.83% and 0.84% respectively.
Volvo Targets 75% Emissions Reduction per Car by 2030
Volvo Cars announced a new climate-related commitment, unveiling a new aim to reduce CO2 emissions per car by 75% by 2030, compared to a 2018 baseline.
The company also announced that it has joined the First Movers Coalition (FMC) to use its purchasing power towards clean technologies to help support the shift to near-zero emission aluminium.
American Airlines Signs Carbon Removal Agreement with Cleantech Startup Graphyte
Carbon removal startup Graphyte today announced that American Airlines will be its inaugural customer, with the purchase of 10,000 tons of permanent carbon removal to be delivered in early 2025. Graphyte utilizes a Carbon Casting approach to carbon removal, which dries and compresses biomass–such as residues from timber and farming operations–into dense carbon blocks, protected by an environmentally-safe, impermeable polymer barrier and stores them in monitored underground sites. The company said the process preserves nearly all the carbon captured in the biomass and consumes very little energy, creating a low cost and highly scalable carbon removal approach.
Virgin Atlantic Completes First Ever 100% SAF-Powered Transatlantic Flight on Commercial Airliner
A consortium led by Virgin Atlantic announced the successful completion of Flight100, the first ever transatlantic flight by a commercial airline using 100% sustainable aviation fuel (SAF). The flight, conducted on a Boeing 787 using Rolls-Royce Trent 1000 engines, originated in London’s Heathrow Airport, and landed at JFK Airport in New York on Tuesday evening, with Virgin Atlantic founder Richard Branson on board.
CIP Launches $3 Billion Clean Energy Growth Markets Fund
Copenhagen Infrastructure Partners (CIP) announced today the launch of Growth Markets Fund II (GMF II), focused on the development of clean energy projects in high growth middle-income markets across Asia, Latin America and EMEA.
CIP said that the fund has a target size of $3 billion, and is anticipated to enable more than 10 GW of new renewable energy capacity..
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Sources.
Anthony Walters – Head of ESG at Clever Adviser Technology Ltd (Clever)
Market recap – Data sourced from FE FundInfo & Koyfin (quoted in Pounds Sterling).
BNP Paribas Ends Financing for Metallurgical Coal Mining by Mark Segal, ESG Today, 27/11/23
H&M Launches Green Loan Program to Finance Suppliers’ Emissions Reductions Initiatives, by Mark Segal, ESG Today, 27/11/23
Amazon Achieves 100% Recyclable Delivery Packaging in Europe by Susan Lahey, ESG Today, 23/11/23
Maersk Signs its Largest-Ever Green Fuel Deal to Drive Fleet Decarbonisation, Susan Lahey, ESG Today, 22/11/23 20/11/23
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