– Microsoft, Aker Carbon Capture, and CO280 join forces for carbon removal market
– Biden announces $7 billion for residential solar on Earth Day
– U.S. CEOs Prioritize ESG Investments: KPMG Survey
– Record-Breaking Year for Global Wind Energy Installation in 2023
Market Recap
In a challenging week for markets, there was an interesting symmetry between ESG strategies as the ESG Focus and Universal strategies (-1.83%) and the ESG Screened and Leaders strategies (-2.05%). This stands to reason as there is deep cross-over between the top 10 holdings of each strategy.
(1 week performance from 15/04/24 to 19/04/24)
Microsoft to help scale Carbon Removal Market
Microsoft, carbon capture technology company Aker Carbon Capture and carbon removal project developer CO280 have announced the launch of a new collaboration aimed at scaling up the carbon removal market across the full value chain.
Aker Carbon Capture (ACC) offers proprietary carbon capture technology to reduce and remove CO2 emissions from industrial plants, which can be applied to existing or new build facilities. The company’s solution uses a mixture of water and organic amine solvents to absorb CO2, which can be applied to a broad range of sectors.
US announces $7bn funding for rooftop solar
President Biden celebrated Earth Day by announcing $7 billion in grants for residential solar projects that will power nearly a million low-income households.
The funding, through the Environmental Protection Agency’s Solar for All grant competition, was included in Biden’s landmark climate change law, the Inflation Reduction Act. It will create 200,000 jobs and save households in the program about $400 a year, according to the White House.
U.S. CEOs Expect Significant Returns from Sustainability Investments
The majority of U.S. CEOs expect to see significant returns from their company’s sustainability investments within three to five years, and the corporate leaders continue to rank ESG as their top operational priority, even in the face of inflationary and supply chain challenges and Gen AI-related opportunities, according to a new survey released by professional services firm KPMG US.
For the study, the 2024 KPMG U.S. CEO Outlook Pulse Survey, KPMG surveyed 100 CEOs from large companies with annual revenue greater than $500 million, including one third with more than $10 billion in revenues, on the key challenges and opportunities in driving business growth and managing the combination of near-term risks and structural economic changes.
Record installations for Wind power
The global wind industry installed a record 117GW of new capacity in 2023, making it the best year ever for new wind energy. Despite a turbulent political and macroeconomic environment, the wind industry is entering a new era of accelerated growth driven by increased political ambition, manifested in the historic COP28 adoption of a target to triple renewable energy by 2030.
Sources.
Anthony Walters – Head of ESG at Clever Adviser Technology Ltd (Clever)
Market recap Data sourced from FE FundInfo & Koyfin (quoted in Pounds Sterling).
Microsoft Partners with Aker Carbon Capture, CO280 to Scale Carbon Removal Market, by ESG Today, 22/04/24
Biden unveils $7 billion for rooftop solar in Earth Day message, by ESG today, 22/04/24
KPMG: Majority of U.S. CEOs Expect Significant Returns from Sustainability Investments Within 3-5 Years by ESG today, 16/04/24
Highlights Need for Policy-Driven Action by ESG News 24/04/24
Risk Warning: These are Anthony’s views at the time of writing and should not be construed as investment advice. The opinions expressed are correct at time of writing and may be subject to change. Capital is at risk. The value and income from investments can go down as well as up and are not guaranteed. An investor may get back significantly less than they invest. Past performance is not a reliable indicator of current or future performance and should not be the sole factor considered when selecting funds.
