Sustainability
Microsoft has signed an offtake agreement with Crew Carbon, a climate tech startup, to acquire up to 23,602 verified carbon removal units from its wastewater-based technology. The deal, announced earlier this month, supports Crew's approach of enhancing alkalinity in wastewater treatment to permanently capture biogenic CO2. This follows Crew's previous agreements with corporate buyers including JPMorgan Chase, Google, Stripe, and Autodesk, and comes amid ongoing scrutiny of Microsoft's carbon removal commitments.
Walmart's fiscal year 2026 ESG report reveals a significant reduction in supplier standard violations, with total opened cases down 35% from the prior year. Unauthorized production allegations saw the steepest decline, while third-party audits indicate improved compliance levels.
The U.S. government has formally requested that the European Union make additional adjustments to its corporate sustainability laws, arguing that current reforms fail to address key concerns affecting American businesses. Ambassador Andrew Puzder's letter highlights issues with the directives' scope, double materiality standards, and extraterritorial application, and warns of potential actions if no solution is found.
The SEC will no longer respond to no-action requests under Rule 14a-8, a significant shift in proxy process oversight. The Division of Corporation Finance and the Division of Investment Management will adopt a similar approach, though companies must still file required notices. The decision comes amid broader rule review and legal pushback.
Bank of America will deploy $250 billion over 18 months to finance critical infrastructure projects, including data centers, energy, transportation, water systems, and critical minerals. The bank says the effort will drive job creation and economic growth, with leadership from Karen Fang. The announcement follows similar patriotic initiatives on Wall Street amid political scrutiny of banks.
A new lifecycle assessment by Textile Exchange and SCS Consulting Services shows that recycled polyester is not a silver bullet for fashion's environmental woes. Electricity consumption drives impacts, thermomechanical recycling often emits more than chemical recycling, and 98% of recycled polyester comes from bottles, not textile waste. The report also highlights social issues and the need for systemic change.
The Lego Group is advancing its decarbonization strategy by expanding renewable energy capacity, including solar installations in Vietnam, Denmark, and Virginia, while transitioning vehicle fleets to electric power.
A 110-MW solar project in Hill County, Texas, has begun commercial operations with financial backing from thousands of individual gamers via a subscription-based virtual power purchase agreement (VPPA). The arrangement, facilitated by Ever.green and SuperPower, highlights the potential for broader VPPA adoption beyond hyperscalers and large corporates.
Google and RWE announced a 15-year PPA covering 100% of the output from the 155-MW Crooked Creek Solar project in McCurtain County, Oklahoma. Construction begins later this year, with commercial operation expected in 2028. The project is projected to generate significant local tax revenue and support community services.