This week’s developments highlight intensifying disputes over emissions rules, finance pledges, and corporate accountability. Governments from Australia to Canada adjusted climate strategies, while U.S. regulators advanced controversial rollbacks. African leaders pressed for new investment, and business giants pushed back on sustainability requirements. With COP30 approaching, the stakes for finance and policy continue to rise.
Australia sets 2035 emissions goal at 62-70% cut, below expert advice
Australia has set its 2035 emissions reduction target at 62-70% below 2005 levels, below expert modelling that recommended 65-75%. The government also committed A$5 billion for industrial decarbonisation and A$2 billion for the Clean Energy Finance Corporation. According to ABC News. Read more
Critics called the target timid, arguing it leaves little room for unexpected emissions growth. The government insisted the number reflects “maximum achievable ambition” while balancing economic concerns.
Exxon presses U.S. to block EU supply-chain sustainability law
Exxon Mobil has urged Washington to challenge the EU’s Corporate Sustainability Due Diligence Directive, which requires companies to address human rights and environmental risks across supply chains. CEO Darren Woods warned the law imposes excessive burdens. According to Financial Times. Read more
Exxon asked U.S. officials to raise the issue in transatlantic trade talks. Environmental groups argue the directive closes loopholes that allow abuses and pollution in global supply chains.
Trump administration tries to nullify Vermont’s polluter-pays climate law
The U.S. Department of Justice has filed a lawsuit to overturn Vermont’s 2024 Climate Superfund Act. The law requires major fossil fuel companies to pay for a share of climate damage costs. Federal lawyers argue the statute is unconstitutional. According to AP News. Read more
Environmental advocates say repealing the law would shield polluters from accountability. Vermont’s attorney general pledged to defend the statute in court.
Galvanize launches $1.3B fund to step in where green policy retreats
A new $1.3 billion fund, Galvanize, backed by Tom Steyer and John Kerry, will target clean energy and infrastructure projects affected by U.S. policy reversals. According to Financial Times. Read more
The fund aims to provide non-bank finance where private markets hesitate, using structured debt and equity. Its focus is U.S. projects, with scope for Canada and Europe.
U.S. EPA proposes end to mandatory greenhouse gas reporting
The U.S. Environmental Protection Agency has proposed ending its mandatory Greenhouse Gas Reporting Program. About 8,000 plants, refineries and industrial facilities would no longer submit annual data. Some methane reporting rules would remain. According to Reuters. Read more
Environmental groups say the move weakens transparency and oversight of corporate emissions. Industry groups welcomed reduced reporting costs.
U.S. judge rules climate advisory panel must follow transparency laws
A federal judge in Boston ruled that a climate-skeptic advisory group formed under the Trump administration must comply with the Federal Advisory Committee Act. The panel had prepared reports behind closed doors. According to The Guardian. Read more
The ruling requires open meetings and public access to documents. Campaigners welcomed the decision, calling it a safeguard against biased influence on regulation.
EU countries delay decision on 2040 emissions target
EU member states postponed agreement on a binding 2040 climate goal. Some support a 90% cut from 1990 levels, while others demand further study. The delay risks missing UN deadlines ahead of COP30. According to Euractiv. Read more
Diplomats said political divisions make consensus unlikely before year-end. Environmental groups criticised leaders for “stalling on climate ambition.”
BlackRock and Vanguard scale back sustainability engagements
BlackRock and Vanguard have reduced corporate engagements on climate and diversity. Disclosures show they attend many meetings in “listen-only mode” due to new U.S. regulatory rules. According to Bloomberg. Read more
Critics say the pullback limits investor pressure on corporate sustainability. Asset managers cite legal risks from increased scrutiny of ESG practices.
Democrats oppose U.S. plan to repeal vehicle emissions limits
More than 100 Democratic lawmakers urged the administration to abandon plans to repeal vehicle emissions standards. The rollback would end rules for light, medium, and heavy-duty vehicles dating back to 2012. According to Politico. Read more
Lawmakers said repealing standards would worsen pollution and harm public health. The administration argues the rules impose heavy costs on automakers.
Clean energy jobs growth under threat from regulatory rollbacks
The U.S. clean energy workforce added more than 100,000 jobs in 2024, growing 2.8% to 3.5 million. A new study warns that policy rollbacks now threaten further gains. According to Canary Media. Read more
Researchers found growth strongest in solar, wind, and energy efficiency. But uncertainty around federal rules could stall investment and hiring in 2025.
