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December 22, 2023

Editor’s note: regulation, reflection and relaxation

Christmas tree decorations
(Photo: John Ioannidis/Pixabay)

The latest edition of our Sustainable Views newsletter

Dear reader,

It has been an incredibly busy year in the world of ESG and regulators show little sign of slowing down, as Sustainable Views’ weekly news round-up reveals

The EU has, once again, moved forward with a raft of planned legislation, while the UK has, among other announcements, confirmed it will follow in the union’s footsteps and introduce its own Carbon Border Adjustment Mechanism, which will kick in a year later than the EU’s CBAM.

In the private sector, ING has become the first major bank to pledge to phase out upstream oil and gas financing by 2040. The Dutch bank also announced its aim to triple new financing for renewable power to €7.5bn annually, by 2025.

And the trend of pushing climate action through the courts continues.

In the US, two Native American tribes have filed lawsuits against oil majors, including ExxonMobil and Shell, for allegedly deceiving the public about the contribution of fossil fuels to climate change. Meanwhile, campaign groups Uplift and Greenpeace have launched legal proceedings against the UK government for its decision to go ahead with the North Sea Rosebank oil and gasfield, arguing that the project is incompatible with the UK’s net zero goal.

Below, as usual, you’ll find the most popular articles of the past few days, plus a suggestion from the team.

Sustainable Views, like many readers, will be taking some holiday over the next couple of weeks, but before we go we’d like to thank you all for reading and engaging with the team in 2023. 

Next week, we will review the past 12 months in three daily briefings and normal service will resume on January 3.

Until then, we hope all readers manage some end-of-year rest and relaxation. The Sustainable Views team plans to come back fully energised to help you navigate ESG policy and regulation in 2024. 

Philippa

Philippa Nuttall is deputy editor of Sustainable Views 

 

This week’s top content

COP28 review: gender progress in climate action continues to be slow

Brazil can break the carbon market deadlock

Asset managers failing to limit fossil fuel expansion – Reclaim Finance

EU defends its COP28 Article 6 negotiating position

A service from the Financial Times