News in the spotlight: Macquarie Group exits Net-Zero Banking Alliance (NZBA)
Australia’s Macquarie Group has announced its withdrawal from the UN-backed Net-Zero Banking Alliance (NZBA), joining a growing list of North American banks that have exited following Donald Trump’s return to the U.S. presidency.
ESG Data & Analytics
Clarity AI and Green Growth Futura announce partnership for sustainability consulting
Clarity AI has partnered with German consultancy Green Growth Futura (GGF) to enhance sustainable finance consulting services. GGF will use Clarity AI’s data and analytics to monitor controversies and exclusion criteria for the B.A.U.M Fair Future Fund, ensuring compliance with ESG standards. This includes screening companies for involvement in controversial sectors like coal and weapons, as well as assessing alignment with UN and OECD frameworks. Beyond fund management, GGF will leverage Clarity AI’s insights to support asset managers, family offices, and foundations in sustainable investment strategies. The partnership aims to improve transparency, efficiency, and impact-driven decision-making.
Achilles launches new analytics tool for supply chain sustainability tracking and reporting
Achilles has launched “Achilles Analytics”, a real-time supply chain intelligence tool designed to enhance sustainability tracking and regulatory compliance reporting. The platform enables businesses to monitor supply chain performance against carbon, ESG, and other key metrics while identifying risks like political instability, climate disasters, and social unrest. The “ESG dashboard” provides insights into supplier sustainability scores and financial performance, helping businesses proactively manage risks. Achilles Analytics also simplifies “regulatory reporting”, ensuring compliance with global disclosure standards such as CSRD, CSDDD, and LkSG. Additionally, it offers “real-time alerts”, “carbon tracking”, and “health and safety risk assessments”, allowing companies to drive sustainability improvements efficiently (source: achilles.com).
Regulations, Law and Frameworks
SBTi announced new Expert Working Groups and a second public consultation
The SBTi has announced new Expert Working Groups and a second public consultation for revising the Corporate Net-Zero Standard, ensuring broad stakeholder input. The revision will introduce key improvements, including clearer categorization, enhanced transparency, and strengthened scope 3 and neutralization approaches. A draft will be released for consultation no earlier than March 2025, followed by pilot testing and a second consultation. The final version will clarify its relationship with other standards and frameworks to improve interoperability. Businesses are encouraged to set net-zero targets now, with future alignment ensured. Experts can apply to join working groups by February 28, 2025. The final Standard’s launch timeline will depend on stakeholder feedback and analysis.
US SEC will not defend climate rule
The U.S. SEC will not defend its climate disclosure rule in court, signaling a potential rollback under acting chair Mark Uyeda. Uyeda, a Republican, ordered SEC lawyers to delay oral arguments in an appeal against the rule, calling it “deeply flawed” and harmful to capital markets. The rule, introduced under former chair Gary Gensler, required companies to disclose climate-related risks but faced opposition from business groups and Republican state attorneys general. Critics argue it is overly burdensome, while supporters say it provides crucial transparency for investors. With the SEC now leaning Republican, enforcement priorities are shifting, including curbing staff subpoena powers. The decision has drawn criticism from Democratic Commissioner Caroline Crenshaw and climate advocates, who warn it undermines investor protections.
GIIN launches Forestry Investors Benchmark
The Global Impact Investing Network (GIIN) has introduced a new forestry benchmark to help investors assess and improve the impact of their forestry-related investments. This tool provides a snapshot of impact performance, allowing investors to compare their results anonymously against industry peers. It focuses on key areas such as forest conservation, sustainable timber harvesting, reforestation, and carbon mitigation, supporting strategic decision-making. Investors can track essential impact metrics, including the percentage of protected and restored land, job creation, investee revenue growth, and greenhouse gas emissions reduction. The benchmark aims to enhance transparency and accountability in the sector, enabling investors to refine their strategies and maximize their positive impact. Currently, it includes data from 13 investors managing an average of $357 million USD in assets, primarily in Latin America, North America, and Oceania. GIIN encourages forestry impact investors to contribute their data to strengthen the tool’s insights and promote industry-wide progress (source: ginn-com).
Leadership Announcements
Louise Kooy-Henckel appointed EMEA Head of Sustainable and Transition Solutions (STS) at BlackRock
BlackRock has appointed Louise Kooy-Henckel as the new Head of Sustainable and Transition Solutions for its EMEA business, reflecting the region’s strong demand for sustainable investing. The firm manages over $1 trillion in sustainable and transition assets across 500+ strategies. This move comes amid political pressures, as BlackRock navigates criticism from U.S. politicians over its sustainability strategies while European clients push for low-carbon investments. In January, the firm withdrew from the Net Zero Asset Manager alliance, citing confusion over its investment approach. Kooy-Henckel previously led sustainability at Wellington Management and held senior roles at JP Morgan Asset Management.
HSBC appoints Julian Wentzel new Chief Sustainability Officer
HSBC has appointed Julian Wentzel as its new Group Chief Sustainability Officer, confirming his role after serving as interim CSO since November 2024. With over 25 years in banking, including senior leadership roles at HSBC, Wentzel brings extensive experience in sustainable finance and transition strategies. He succeeds Celine Herweijer, who led HSBC’s Net Zero Transition Plan and major sustainability initiatives. HSBC remains committed to achieving net-zero emissions by 2050, mobilizing up to $1 trillion in sustainable finance by 2030. Wentzel aims to expand these efforts, supporting clients in their sustainability transitions.
Net Zero Commitments
Macquarie Group exits Net-Zero Banking Alliance (NZBA)
Australia’s Macquarie Group has announced its withdrawal from the UN-backed Net-Zero Banking Alliance (NZBA), joining a growing list of North American banks that have exited following Donald Trump’s return to the U.S. presidency. The NZBA, launched in 2021, was designed to encourage financial institutions to commit to net-zero emissions, but Trump’s withdrawal from the Paris Agreement and the UN Green Climate Fund has led to a wave of departures. Goldman Sachs was the first to leave in December 2024, followed by major U.S. banks such as JPMorgan, Wells Fargo, and Citigroup, as well as several Canadian banks. Macquarie did not specify its reasons for leaving but stated it would provide an update on its climate strategy in its annual report in May 2025. Critics argue that Macquarie, once seen as a leader in green finance, is stepping back from global climate commitments. Despite these exits, Australia’s major banks, including ANZ, Westpac, and Commonwealth Bank, remain part of the coalition, maintaining their net-zero commitments.