Over the past few years, renewable energy sources (RES) have shown remarkable growth, solidifying their position in the global energy sector. According to a recent report by the Ember think tank, renewable energy accounted for a record 32% of global electricity generation last year. However, overall electricity demand has continued to rise, driven by extreme weather events and the energy needs of data centers.
Brazilian state oil company Petrobras, in partnership with the country's development bank BNDES, has announced a visionary initiative aimed at conserving the Amazon ecosystem. The project, named ProFloresta+, focuses on financing and supporting restoration efforts in one of the world's most critical natural regions.
On Tuesday, the leading organization assessing corporate climate goals introduced new recommendations aimed at improving the quality of emission reduction plans. These changes affect business sustainability in light of global climate shifts; however, the organization confirmed that it does not intend to ease regulations concerning the use of carbon credits.
In light of security threats and an increased need for defense, the automotive industry in Europe is facing new challenges. Recently, the chairman of Stellantis stated that the sector should not shift towards defense production. This comment comes amid discussions about significant increases in defense spending across European countries.
BBVA $BBVA.MC has announced a significant step forward in the development of sustainable lending, raising its target for financing sustainable enterprises to 700 billion euros over the next five years. This news follows the bank’s creation of a global financial division focused on clean technologies and innovation. BBVA’s initiative clearly demonstrates its commitment to supporting sustainable business growth in a time of increasing environmental and climate-related challenges.
Nestle $NESN.SW, a prominent player in the packaged foods industry, has announced plans to invest $1 billion in Mexico over the next three years. This substantial investment aims to expand the company's production capabilities and enhance the efficiency of various product categories.
