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EU announces climate insurance alliance and new resilience measures
The European Commission has announced a Climate Insurance Alliance, a European Heatwave Plan and a European Water Initiative as part of its State of the Union programme. The Commission also announced plans for a climate-resilience framework covering 100 vulnerable European territories. Around 25% of catastrophe-related economic losses are currently privately insured, leaving national governments to cover much of the remaining risk.
Veralto sets SBTi-validated climate targets
Veralto has received Science Based Targets initiative validation for its near-term climate targets, including a commitment for 60% of suppliers to have science-based targets by 2030 and a 61% reduction in Scope 3 emissions from use of sold products per dollar of value added by 2033, against a 2024 baseline. The company is also targeting a 54.6% reduction in combined Scope 1 and 2 emissions by 2033. “Veralto’s climate targets reflect our commitment to significantly reduce emissions from our businesses over time,” commented Jennifer L. Honeycutt, president and chief executive, Veralto.
Google backs 2Mt Brazil carbon-removal and methane programme
Google has agreed its largest carbon-removal purchase to date with Terradot for agricultural projects across Brazil. The programme will target one million tonnes of methane-abatement credits by 2030 and one million tonnes of permanent carbon-removal credits by 2040, combining methane elimination from rice production with enhanced rock weathering.
Study finds ESG ratings can overlook companies’ deforestation exposure
Researchers at the National University of Singapore have suggested that major ESG rating systems can fail to reflect companies’ actual exposure to deforestation. The study compared corporate ESG assessments with satellite-based environmental information, with the researchers proposing integrating geospatial environmental data into sustainable-investment assessments. “There is a need for ESG providers to integrate objective, spatially explicit deforestation information derived from satellite observations into future assessments, allowing investors to better contribute to reducing deforestation,” said Yingtong Zhu of the NUS Sustainable and Green Finance Institute.
Scotland makes environmental assessments mandatory for data centres above 50MW
The Scottish Government has introduced a planning direction requiring Environmental Impact Assessments for new data-centre developments exceeding 50MW of power capacity. The requirement means applications must assess potentially significant environmental effects from the outset. Developments below 50MW remain subject to case-by-case assessment under existing environmental-impact regulations.
Spain’s Onuba green hydrogen project gains €1bn investment partnership
Hy24 and Spain’s COFIDES have agreed to acquire a combined 29% stake in Moeve’s Onuba green hydrogen project in Huelva. The first phase has 300MW of alkaline electrolysis capacity, with an option for another 105MW, and represents more than €1 billion of investment. Moeve will retain a 51% stake in the project.
Kyndryl cuts emissions 34% while renewable electricity reaches 63%
Kyndryl reduced its Scope 1, Scope 2 market-based and applicable Scope 3 emissions by 34% against its FY2023 baseline, according to its FY2026 Corporate Citizenship Report. Purchased electricity fell 30% over the same period, while renewable sources supplied 63% of electricity in FY2026. The company retains a Science Based Targets initiative-validated 2030 pathway and a net-zero greenhouse-gas ambition for 2040. “Kyndryl is committed to operating responsibly while advancing human progress,” said Faith Taylor, senior vice president, global citizenship and sustainability, Kyndryl.
Arm maintains 100% renewable electricity across direct operations
CPU designer Arm has published its FY2026 Sustainable Business Report, reporting 100% renewable electricity sourcing across its direct global operations. The company also said that its Arm AGI CPU delivers more than twice the performance per rack compared with x86 platforms, based on internal estimates.
Arevon advances 250MW/1,000MWh California battery project
Arevon Energy has reported construction progress on its 250MW/1,000MWh Cormorant Energy Storage Project in Daly City, California, which is scheduled to begin operations in 2027. The lithium-iron-phosphate system is expected to be able to power 321,000 homes for up to four hours during peak demand. Arevon estimates the project will save more than 4.2 billion gallons of water annually and avoid 174,000 tonnes of CO₂ each year.