Powered by RebelMouse

EU sustainable funds invest in major polluters

EU-regulated "sustainable" funds invest billions in polluting companies, including fast fashion and fossil fuel firms, misleading investors about their environmental impact.

Ajit Niranjan, Giorgio Michalopoulos, and Stefano Valentino report for The Guardian.

In short:

  • EU-regulated sustainable funds have invested $18 billion in the 200 biggest polluters.
  • Funds marketed as environmentally-friendly include significant investments in high-emission sectors.
  • Campaigners call for stricter regulations to prevent greenwashing and misleading labels.

Key quote:

"Pension savers and the general public are being misled when it comes to sustainable finance."

— Lara Cuvelier, sustainable investment campaigner at Reclaim Finance

Why this matters:

The allure of sustainability has attracted a significant number of investors seeking to align their portfolios with their values. However, the lack of stringent criteria and transparency within the EU's regulatory framework has allowed companies with questionable environmental practices to slip through the cracks. Fast fashion, notorious for its massive carbon footprint and waste generation, and fossil fuel firms, the main contributors to climate change, are among the top beneficiaries of these "sustainable" funds.

www.theguardian.com
A closeup view of a citibank sign in red, white and blue
Credit: BGStock72/Big Stock Photo

Banks are financing the fossil fuel industry’s next growth strategy

New research shows major lenders are accelerating their investment in Big Oil as the industry turns toward plastics and petrochemicals.
Read the Full Article on grist.org
Two workers installing rooftop solar on a curved-tile roof
Credit: Getty Images/Unsplash+

5 questions answered as solar tax credits phase out

Many utility-scale developers planned ahead, signaling the looming deadline may not be a massive disruption.
Read the Full Article on www.eenews.net
Rendering of planet earth depicting energy pathways against a setting or rising sun
Credit: Getty Images/Unsplash+

German startups compete in global race for nuclear fusion

Companies around the world are competing to see who can build the first commercially viable nuclear fusion reactor. German startups are also in the race, supported by major corporations and private investors.
Read the Full Article on www.dw.com
Aerial view on old working coking plant. Smokestacks, coal waste, flaring in progress.
Credit: plantic/BigStock Photo ID: 202556464

Echoes of the past in Pennsylvania coal towns’ fight against data centers

As the data center buildout escalates, rural Pennsylvanians urge lawmakers not to repeat past mistakes.
Read the Full Article on insideclimatenews.org
Blue-green diesel generator with signage reading: "DIESEL NO SMOKING OR OPEN FLAMES"
Credit: Fr0ggy5/Unsplash

‘We are screwed’: People near data centers dread heat wave pollution

Extreme temperatures threaten to strain the grid as data centers are increasing energy demand. What could go wrong?
Read the Full Article on www.politico.com
Downed power lines in a flooded area of New Orleans in the aftermath of Hurricane Katrina.
Credit: jpegisclair/BigStock Photo ID: 192269

New Orleans residents on warning to abandon sinking city: ‘Nobody wants to leave home’

After a recent study found New Orleans is at a ‘point of no return’ amid the climate crisis, some locals say they will ‘only leave if forced to’. But what would it take to stay?
Read the Full Article on www.theguardian.com
An aerial view of a body of water with a bridge crossing it
Credit: Getty Images/Unsplash+

Global oceans break June temperature record with fears they’re headed into ‘uncharted territory’

The planet’s oceans are at unprecedented temperatures for this time of year, breaking the all-time June record, according to new data, with alarming implications for global weather and marine life.

Read the Full Article on www.cnn.com
From our Newsroom
Multiple Houston-area oil and gas facilities that have violated pollution laws are seeking permit renewals

Multiple Houston-area oil and gas facilities that have violated pollution laws are seeking permit renewals

One facility has emitted cancer-causing chemicals into waterways at levels up to 520% higher than legal limits.

www.ehn.org
Pennsylvania health advocates say Trump’s first 100 days in office have caused “100 harms” to local communities

Pennsylvania health advocates say Trump’s first 100 days in office have caused “100 harms” to local communities

“They're terrorizing these scientists because they want to keep them silent.”

www.ehn.org
Regulators are underestimating health impacts from air pollution: Study

Regulators are underestimating health impacts from air pollution: Study

"The reality is, we are not exposed to one chemical at a time.”

www.ehn.org
Pennsylvania governor Josh Shapiro speaks with the state flag and American flag behind him.

Two years into his term, has Gov. Shapiro kept his promises to regulate Pennsylvania’s fracking industry?

A new report assesses the administration’s progress and makes new recommendations

www.ehn.org
silhouette of people holding hands by a lake at sunset

An open letter from EPA staff to the American public

“We cannot stand by and allow this to happen. We need to hold this administration accountable.”

www.ehn.org
wildfire retardants being sprayed by plane

New evidence links heavy metal pollution with wildfire retardants

“The chemical black box” that blankets wildfire-impacted areas is increasingly under scrutiny.

www.ehn.org
Stay informed: sign up for The Daily Climate newsletter
Top news on climate impacts, solutions, politics, drivers. Delivered to your inbox week days.