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ESG International Weekly News
Microsoft Signs One of the Largest Ever Carbon Removal Deals
Microsoft and Danish energy provider Ørsted have announced one of the largest carbon removal off-take deals, for the purchase of 2.76 million tonnes of carbon removal. Ørsted will capture and store biogenic carbon emissions from its Asnæs Power Station in Denmark over a period of 11 years. The deal forms part of Microsoft's initiative to become carbon negative by 2030 and to remove all of its historical emissions by 2050. Ørsted, Microsoft, and Aker Carbon Capture formed a collaboration in 2021 to explore possibilities in developing carbon capture at biomass-fired heat and power plants, with Aker serving as the carbon capture provider for the new project.
微軟與丹麥能源供應商Ørsted宣布了一項最大規模的碳回收協議，購買276萬噸的碳回收。Ørsted將在11年內捕捉並存儲在其丹麥Asnæs電站產生的生物質碳排放。該協議是微軟實現2030年碳負增長並在2050年移除所有歷史碳排放目標的一部分。Ørsted、微軟和Aker Carbon Capture於2021年共同合作，探索在生物質發熱和發電廠開發碳捕捉的可能性，Aker將為新項目提供碳捕捉服務。
Over 40% of Gen Z, Millennials Would Switch Jobs Over Climate Concerns: Deloitte Survey
超過40%的 Z 世代與千禧世代會依據氣候變遷的考量考慮是否轉換工作：德勤報告
According to a new survey from Deloitte, climate change and environmental sustainability are becoming increasingly important for companies' recruitment and retention of employees. The survey found that over 40% of Gen Z and Millennials have changed jobs or sectors due to climate concerns, or plan to do so. The survey involved nearly 23,000 Gen Z and Millennial participants across 44 countries. It found that climate change is a major concern for these groups, with about 60% feeling anxious about the environment and more than 70% actively trying to minimize their environmental impact. Approximately 55% research a company's environmental impact and policies before accepting a job. In addition to employment matters, about 60% of respondents reported being willing to pay more for sustainable products and services.
EU Parliament Proposes Ban on Green Claims Based Solely on Carbon Offsetting
The European Parliament has voted to adopt new rules requiring companies to substantiate and verify their environmental claims to prevent greenwashing. The rules are in response to a study that found more than half of the green claims made by companies in the EU were vague or misleading, and 40% were completely unsubstantiated. The rules would require companies to independently verify their environmental claims and identify relevant environmental impacts. The rules also propose banning green claims based solely on carbon offsetting schemes. Additionally, the rules prohibit generic claims like 'environmentally friendly' and 'carbon neutral' without detailed evidence, and they ban product design features that promote early obsolescence.
Morgan Stanley Raises $500 Million for Climate Solutions Strategy
Morgan Stanley Investment Management (MSIM) announced the first close of its climate private equity strategy, 1GT, raising $500 million. The strategy, launched in 2022, aims to invest in climate solutions companies with the objective of eliminating 1 billion tons of CO2 emissions by 2050. Investors in the strategy include public and private pension funds and an insurance company from the Nordic region, Germany, and the UK. 1GT primarily invests in North American and European private companies that provide products and services enabling significant improvements in carbon footprints and can yield substantial financial returns. Half of the 1GT team’s incentive compensation will be tied to achieving the platform's climate objectives.
Ørsted Awarded $1 Billion Deal to Capture and Store Over 8 Million Tonnes of Carbon
Ørsted, a Danish energy provider, has won a 20-year contract for its "Kalundborg Hub" carbon capture and storage (CCS) project from the Danish Energy Agency (DEA). The project aims to capture and store over 400,000 tonnes of CO2 annually, commencing operations in 2025. The project is part of Denmark's Climate Agreement targeting a 70% emission reduction by 2030, with 16 billion DKK ($2.3 billion) allocated for CCS initiatives. The captured carbon will be shipped to the Northern Lights storage reservoir in the North Sea. In related news, Ørsted has secured a 2.76 million-tonne carbon removal agreement with Microsoft, supporting Microsoft's goal to become carbon-negative by 2030.