February 2025 - ESGWireNews

FridayFeb 28, 2025 10:00 am

IKEA Holding Company Adjusts Key ESG Target it Had Set for its Deliveries

Ingka Group, the largest IKEA franchisee holding company, recently announced that it had modified its goal of hitting 100% emission-free home deliveries this year with a new target to reach over 90% of home deliveries made by zero-emissions vehicles by 2028. The company based these adjustments on various factors, including the availability of charging infrastructure and electric vehicles, as well as a significant increase in online orders. Currently, home deliveries make up roughly 14% of the company’s mobility emissions. The aforementioned objectives form part of the firm’s targets to reach net zero by 2050, decrease greenhouse gas emissions across its…

ThursdayFeb 27, 2025 10:00 am

The EU Plans to Scale Back Some of its Toughest ESG Rules

A recent draft proposal presented by the executive arm of the European Union asks that some primary points in the Corporate Sustainability Due Diligence Directive be amended. The Corporate Sustainability Due Diligence Directive is focused on fostering responsible and sustainable corporate behavior in firms’ operations and across their international value chains. This ESG regulation entered into force on July 25th last year and applies to large limited liability companies and partnerships in the European Union, as well as large non-EU enterprises. The proposed changes to the directive include: Abolish aspects of the civil liability clause and the regulations concerning representative…

WednesdayFeb 26, 2025 10:45 am

SolarBank Corp. (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: GY2), Viridi Partner on Buffalo, NY Solar and Battery Project

SolarBank and Viridi are collaborating on a 3.06 MW solar and 1.2 MWh battery energy storage system in Buffalo, New York, repurposing a closed landfill, converting unused land into a source of clean energy. Pending approvals and financing, SolarBank is set to begin construction, while Viridi will provide the battery storage system. Viridi's battery systems include integrated fire suppression and anti-propagation technology to enhance safety. Once operational, the project will function under a community solar model, where residents can subscribe to the project, earning credits on their electricity bills without installing personal solar panels. Disseminated on behalf of SolarBank Corporation…

TuesdayFeb 25, 2025 10:00 am

Canadian Investors Remain Steadfast Despite Headwinds Against ESG

A new study has determined that over 90% of institutional investors in Canada are integrating ESG considerations into their strategies, with a focus on long-term engagement and risk management. The study, which was carried out by Millani, comes as shifts in sustainability policies, climate regulations and trade relations rock America. The return of President Donald Trump to the White House has seen pushback against ESG grow significantly as companies come under fire for ESG and DEI policies. Just recently, major financial institutions like Wells Fargo, Goldman Sachs and Morgan Stanley pulled out of the Net Zero Banking Alliance. Additionally, Meta,…

MondayFeb 24, 2025 12:15 pm

SolarBank Corp. (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: GY2) Reports Substantial Revenue, Gross Profit Growth, with Key Developments Painting Positive Outlook

The company’s six-month revenue reached $20.1 million CAD ($14.15 million USD), reflecting steady long-term growth despite seasonal fluctuations. Gross profit margin increased to 29.2%, up from 18.4% in the prior year, signaling improved margins. Assets surged 372% to $185.3 million CAD ($130.47 million USD) during the six month period, following the acquisition of Solar Flow-Through Funds Ltd. Recent $70.3 million CAD ($49.5 million USD) deal with Qcells will drive revenue in upcoming quarters. Share price more than doubled in early February, signaling investor interest. Disseminated on behalf of SolarBank Corporation SolarBank (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: GY2), a premier…

FridayFeb 21, 2025 10:00 am

Report Shows Falling Investor Support for ESG Proposals

A recently released report has determined that investor support for environmental, social and governance (ESG) proposals is declining, especially in America. These proposals are usually introduced by activists and campaigners urging companies to address issues including possible human rights abuses, their climate impact, diversity and inclusion policies. Despite not being legally binding, they can influence the board to employ measures to address these issues. The report was compiled by ShareAction, an investment campaign group focused on improving corporate behavior on ESG issues. According to the report, only four out of 279 resolutions tabled at AGMs in the past year in…

ThursdayFeb 20, 2025 10:45 am

SolarBank Corp. (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: GY2) Begins Construction on First Battery Storage Project in Ontario

$25.8 million financing from the Royal Bank of Canada will be used for a 4.99 MW Ontario-based battery energy storage system consisting of two projects, SFF-06 and 903. The projects mark SolarBank’s first foray into energy storage, a market expected to reach $31.2 billion USD by 2029. The project benefits from a 22-year contract with Ontario’s electricity operator, ensuring stable revenue. SolarBank is leveraging government incentives, including a 30% Clean Technology Investment Tax Credit. Anvil Crawler Development Corp. was awarded a $1.85 million contract for civil and electrical work on the project. Disseminated on behalf of SolarBank Corporation SolarBank (NASDAQ:…

ThursdayFeb 20, 2025 10:00 am

America Looks to Be on a Collision Course with the EU Over its ESG Rules

During a recent U.S. Senate hearing, Howard Lutnick stated that the Corporate Sustainability Due Diligence Directive would place significant burden on companies in America. Lutnick, who was selected by President Trump to fill the Secretary of Commerce position, explained that they were looking to use available trade tools to challenge these regulations. He added that he’d take whatever action was necessary to prevent the imposition of rules that negatively affected American firms. The Corporate Sustainability Due Diligence Directive is a measure adopted by the EU to promote responsible behavior by companies, focused on adherence to environmental standards and human rights…

FridayFeb 14, 2025 10:00 am

DeepSeek’s Emergence Raises Questions About AI and the Direction of ESG

DeepSeek recently rolled out its large language model designed to improve reasoning capability using less computing power and fewer chips dubbed R1. In its announcement, the Chinese company revealed that it had used about $6 million to develop its model. This amount, while still huge, is minute in comparison to the multi-billion-dollar costs of other AI models. Following the announcement, AI stocks and firms associated with the space saw massive drops. For instance, Nvidia lost nearly $600 billion in market capitalization as investor concerns that demand for the firm’s chips would reduce soared. Additionally, analysts observed a 20-30% decrease in…

ThursdayFeb 13, 2025 10:00 am

State AGs Renew Their Fight Against ESG

Towards the end of last year, attorneys-general from different GOP states filed an antitrust suit against investment firms linked to ESG initiatives, led by Texas. This trend continued into the new year, with opposition against ESG growing while opposition to Diversity, Equity and Inclusion programs also increased. Just last month, another group of GOP state attorneys-general led by Attorney General Ken Paxton of Texas wrote a letter detailing contractual and legal violations by different financial institutions. In their letter, the attorneys-general called attention to the fact that financial institutions were violating their fiduciary duties by working towards their climate commitments…

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Month: February 2025