EU Watchdog Eases Rules for Green Bond Fund Labeling
ESMA (the European Securities and Markets Authority) has introduced new rules for green bond fund labeling rules. The move is intended to help energy-intensive sectors receive more access to funding in exchange for their decarbonization efforts.
At first, the rules received a significant amount of backlash because they barred funds from holding bonds that are tied to the oil and coal industries. The updated guidelines, however, include a ‘look-through’ provision that permits investments for companies who are involved in certain kinds of green projects. The only exception is for companies that are found to have violated the UN Global Compact principles or the OECD guidelines.
The move has been welcomed by Agnes Gourc, the BNP Paribas' Head of Sustainable Capital Markets.
“In Q1 we would have seen some issuers hold back on green bond issuance until they had more clarity,” she said. “The timing is good.”
Seafood Supply Chains Face Investor Pressure Over Sustainability and Transparency
Global seafood demand is expected to double by the year 2050. At the same time, there has been greatly increased concern from investors over opaque supply chains, increased illegal fishing, and a loss in biodiversity.
A recent report conducted by the investor network Fairr, which involved thirty-five investors with a combined $6.5 trillion in combined assets, found that only two of the largest seafood companies in the world have full traceability commitments throughout their operations.
Dai Yamawaki, the Senior Portfolio Manager at Nomura Asset Management, emphasized the urgency for action by stating that “we are requesting the companies to introduce full-chain digital and interoperable traceability,” as it protects laborers and reduces environmental risks.
With seafood-related assets worth up to $3 trillion at risk over the next fifteen years due to overfishing and sustainability challenges, the report was also clear to warn that ‘business-as-usual’ could threaten the industry's survival and lead to a collapse of ocean systems.
Iowa’s Kung Fu Panda Turtle Faces Extinction
The Blanding turtle, which is a species that has been made somewhat famous due to its appearance in the animated Kung Fu Panda films, is facing the threat of extinction in the state of Iowa. There are now less than 3,000 confirmed specimens in the state, according to the U.S. Fish and Wildlife Service.
To help stop the decline, the Iowa Department of Natural Resources (DNR), Iowa State University, and the Blank Park Zoo have launched a ‘head-starting’ initiative where five dozen baby Blanding turtles were hatched and raised in the zoo over the winter.
This approach is aimed to give the turtles a better chance at survival.
Karen Kinkead, the Wildlife Diversity Coordinator for Iowa DNR, explained the strategy: “They keep them awake and keep feeding them so they grow larger. Then when they’re released into the wild the next summer, they’re a bigger size.”
Photographer Enzo Barracco Teams Up with Prada to Champion Conservation in the Ocean
Renowned photographer Enzo Barracco, who has long been inspired by his deep connection to the sea, has turned his lens towards documenting Earth’s natural beauty as well as its fragility.
After an expedition to Antarctica shifted his focus away from fashion photography, Barracco began using his art to spotlight environmental conservation. He now collaborates with Prada Group through its Sea Beyond initiative to raise awareness about climate change and preserving the ocean.
His latest exhibition, which is called The Blue on Fire, is on display at Prada’s Tokyo Aoyama store. The Blue on Fire showcases breathtaking photos of Hawaii’s natural landscapes.
Francesca Santoro, UNESCO's senior program officer, highlighted the significance of partnerships like this: “A brand like Prada that shows they can use their influence and expertise to change production processes is very important.”
This collaboration underscores how photography, fashion, and education can be utilized together to help drive meaningful conservation efforts.
First Federal Report on Fast Fashion Exposes Textile Waste Crisis in the U.S.
The first federally mandated report on fast fashion’s environmental impact, which was requested by Rep. Chellie Pingree (D-ME), has released the significant rise in textile waste across the U.S.
According to the Government Accountability Office’s findings, polyester-based materials in landfills have surged by 50% over the past two decades alone. This is due to fast fashion brands and shifting consumer habits.
Representative Pingree explained the problem, “People are buying so many more clothes now, wearing them for a much shorter period of time, throwing them away… they can turn into harmful elements, whether it’s methane gas in the atmosphere or plastic microfibers in the groundwater or ocean.”
We must however point out: The pieces that the more affordable clothing brands are now producing are not made with quality and longevity in mind. Instead most are focused on trends and high production rates which adds to the rate at which textiles end-up in landfill.
The report discusses the lack of infrastructure to regulate waste and recommended measures such as coordinating Federal efforts (led by agencies like the EPA) to advance textile recycling and reduce waste. While there are legislative proposals like the Americas Act and Fabric Act that are aiming to tackle these issues, political gridlock and potential future budget cuts to the EPA could continue to get in the way.
