Today’s ESG Updates

• Hamburg Backs Blended Finance: New Asia-Pacific platform to help close $4.2T SDG funding gap despite investor concerns.
• Europe’s Biggest E-Fuel Plant Opens: INERATEC starts 2,500-tonne annual output to boost green transport fuels.
• Saithe Loses MSC Certification: North Sea saithe fishery deemed unsustainable, prompting ESG and regulatory concerns.
• Top Cities for Green Tourism: Paris, Kyoto, Cape Town, and Medellín named leading eco-friendly travel destinations.

Hamburg Sustainability Conference calls for a need to boost blended finance

A global conference initiated to speed up the implementation of the United Nations Sustainable Development Goals (SDGs) will launch a new Asia Pacific-focused platform this year called the Asia-Pacific Blended Finance Community of Practice. The platform aims to mobilise resources for blended finance and boost deal origination for stakeholders in the region whilst further improving collaboration and knowledge exchange. The estimated funding gap to achieve the SDGs is around $4.2 trillion, with the new platform scaling sustainable investments to align with SDG targets. Private investors remain skeptical about the risks and uncertainty around blended finance. 

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Further reading: Blended finance must evolve to do more with less: Hamburg Sustainability Conference head

INERATEC opens Europe’s largest E-Fuel production plant

INERATEC’s ERA ONE planet, Europe’s latest E-Fuel production plant, is now operational. The Frankfurt-based e-fuel facility marks Europe’s largest investment in hydrogen fuel. The plant aims to produce up to 2,500 tonnes of e-fuel annually, including SAF, marine fuels, and e-diesel. The plant utilises green hydrogen and biogenic CO2 in a process called power-to-liquid technology to produce synthetic fuels. The project aims to boost Europe’s sustainable fuel production, with transportation and trade industries desperately needing sustainable fuel growth to meet emissions targets. 

📊 Insight: Boosting sustainable fuels will reduce supply chain costs both for transportation businesses (aviation and shipping) and consumers as transportation industries grow closer to regulated sustainability standards.

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Further reading: INERATEC Opens ERA ONE: Europe’s Largest E-Fuel Production Plant Goes Into Operation in Frankfurt

North Sea saithe loses MSC certification

The North Sea saithe fishery will no longer be able to use the Marine Stewardship Council (MSC) certification as it loses its credentials. The decision comes as a recent evaluation by the International Council for the Exploration of the Seas (ICES) concluded that saithe stocks are outside the MSC’s “green zone”. The “green zone” indicates a sustainable amount of fishing practice for fish species, with the North Sea saithe fishery now indicating unsustainable levels. The fishery comprises around 45,000 tons of saithe caught annually. 

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Further Reading: North Sea saithe losing MSC label following latest stock assessment

Paris, Kyoto, Cape Town, and Medellin are among the most sustainable travel destinations 

The TOURISE awards, launched by Saudi Arabia’s Ministry of Tourism, have highlighted Paris, Kyoto, Cape Town, and Medellin as amongst the most sustainable destinations worldwide. The award honors destinations that excel in sustainable, cultural, and experiential tourism. The award aims to highlight cities that redefine tourism, focusing more on conservation and connection rather than consumption. Nominations are now open, and the winners will be announced at the TOURISE summit in Riyadh in November. Cities with ESG credentials can demand a premium, with consumers prepared to pay more for an eco-friendly holiday destination. 

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Further reading: Paris, Kyoto, Cape Town, and Medellín Among Destinations Spotlighted in New TOURISE Awards for Sustainable Travel

Editor’s Note: The opinions expressed here by the authors are their own, not those of impakter.com — Cover Photo Credit:  Hamburg Sustainability Conference