This week in ESG news: HSBC ends financing of new oil & gas projects; EU agrees to a carbon tax on imports; Australia to introduce mandatory climate reporting for companies; Dow Jones Sustainability annual index changes released; Barclays sets $1 trillion sustainable finance goal; Annual CDP environmental scores released; Biden invests $3.7 billion in carbon removal; EU bank regulator unveils sustainable finance plans; ISSB to add biodiversity to climate disclosure requirements; Microsoft hires new Chief Sustainability Officer; McDonald’s purchases renewable energy for 100% of US logistics electricity needs; ECB to step up climate risk action at banks, and more.

See below for the highlights of the past week, and get all your ESG news at ESG Today:

Sustainability Goals, Initiatives and Achievements

BorgWarner Adds Scope 3 Value Chain Emissions to Climate Goals

McDonald’s Covers 100% of US Logistics Supply Chain Electricity Load with Renewable Energy

Diageo to Use Net Zero Glass Bottles from Hydrogen-Powered Furnace

CDP Environmental Scores Released: Only 12 of Over 18,000 Companies Achieve Top Scores Across All Categories

Iberdrola Launches Biodiversity Plan, Pledges Net Positive Impact by 2030

Kering, L’OCCITANE Launch Nature Protection Fund for Luxury Fashion & Beauty Sectors

Dow Jones Sustainability Indices Results Announced: Walmart, Disney In, Starbucks, UPS Out

Government & Regulators

EU Regulator Stress Test Finds Pension Funds Have Material Exposure to Climate Risk

Biden Administration Allocates $3.7 Billion to Carbon Removal Projects

EU Bank Regulator Outlines Plans to Address ESG Risks, Disclosure, Greenwashing

UK Regulator FCA Launches ESG Committee

EU to Implement a Carbon Tax on Imports

ECB to Step Up Action on Climate Risk at Banks as a Top Priority

ESG Reporting & Disclosure

ISSB to Add Biodiversity, Just Transition Disclosures to Climate Reporting Standard

PCAF Adds Sovereign Debt, Emissions Removals to Financed Emissions Reporting Standard

Guest Post – The Bottom Line: Why CFOs Need to Lead ESG Reporting in 2023

Australia Plans Mandatory Climate Reporting for Companies

ESG Services and Tools

MSCI Launching Tools to Identify Companies at Risk on Biodiversity, Deforestation

ESG Investing

M&G Backs Launch of Sustainable Food-Focused Impact Investment Funds with £200 Million Commitment

Texas Lawmakers Grill BlackRock, State Street over ESG Investing: “We Wish You Weren’t There”

HSBC-Backed Natural Capital Investment Fund Raises $650 Million

Investor Group Launches Initiative to Engage Companies on Biodiversity and Nature Loss

Sustainable Finance

Barclays Ramps Sustainable Finance Goal to $1 Trillion by 2030

HSBC Ends Financing for New Oil and Gas Projects

Private Equity & Venture Capital

Circular Metals Provider Continuum Raises $36 Million to Meet Demand for Sustainable Materials

Energy Transition

Stellantis Addresses 50% of its North America Emissions Through Massive Renewable Energy Deal

Volvo Expands Heavy Duty Electric Truck Lineup

Exec Moves

Microsoft Appoints Former Biden Admin Climate Leader Melanie Nakagawa as Chief Sustainability Officer

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