auctusESG | Insights | July H1 2025
Data dashboard
This chart tracks India's annual issuance of aligned GSS+ debt (green, social, sustainability, and sustainability-linked) from 2015 to 2024. Green finance dominates, accounting for 85% of the cumulative GSS+ volume. From 2015 to 2019, green issuances exceeded US $9 billion. Following a dip in 2020, volumes recovered in 2021, with modest contributions from social, sustainability-linked, and sustainability instruments. In 2023, total issuance reached a record high of over US $16 billion, driven largely by green debt and supported by a small share of sustainability bonds.
In 2024, while green issuance declined slightly, social bonds saw a notable rise, becoming the second-largest component of that year’s GSS+ issuance. This shift reflects growing investor interest in social outcomes alongside environmental priorities. The trend highlights a gradual diversification of India’s sustainable debt market. While green remains the cornerstone, strengthening frameworks and investor confidence in social and sustainability-linked instruments will be crucial for scaling broader sustainable finance across sectors.
Read more here. Climate Bonds Initiative
News roundup
HSBC exits Net Zero Banking Alliance
HSBC has announced its withdrawal from the Net-Zero Banking Alliance (NZBA), citing the need for greater flexibility in shaping its own climate strategy. The bank reaffirmed its commitment to net zero, stating it will continue to support global decarbonisation through science-based targets and a clear financed emissions strategy. HSBC emphasised its intention to pursue a more independent approach, rather than adhering strictly to sector-wide frameworks, while remaining aligned with international climate ambitions and transition pathways.
HSBC’s exit signals a broader trend of large banks moving away from multilateral climate alliances toward independent pathways, potentially weakening sector-wide accountability. While the bank claims greater flexibility under a bespoke approach, critics warn this could dilute transparency, hinder peer benchmarking, and undermine investor confidence.
Read more here. Mark (Moshe) Segal ESG Today
EU to develop nature credits market to boost sustainable farming and biodiversity
The European Commission has unveiled plans to develop a voluntary nature credits market to mobilise private finance for biodiversity-friendly practices like wetland restoration and sustainable farming. The initiative aims to bridge the EU’s biodiversity funding gap by rewarding landowners for measurable nature-positive outcomes.
With pilots and stakeholder consultations underway, the roadmap emphasises robust standards and verification to ensure transparency and avoid greenwashing. The move supports the EU’s Green Deal goals while promoting rural resilience and sustainable land use.
Read more here. Mark (Moshe) Segal ESG Today
EU simplifies sustainability taxonomy to boost corporate compliance and green investment
The European Union has announced a major simplification of its sustainability taxonomy to reduce the compliance burden on companies and improve usability. The revised framework includes clearer guidance, fewer reporting requirements, and more practical criteria for identifying environmentally sustainable activities. These changes aim to make the taxonomy more accessible, particularly for SMEs, while maintaining its environmental integrity.
This move is expected to enhance corporate uptake, support sustainable investment flows, and strengthen the EU’s position as a global leader in green finance, aligning with its broader climate and sustainability objectives.
Read more here. Mark (Moshe) Segal ESG Today
Piauí state issues carbon credits to protect rainforest and combat deforestation
The Brazilian state of Piauí has introduced a jurisdictional carbon credit scheme to reduce deforestation and conserve its rainforest, in partnership with investment firm Silvania and the state agency Investe Piauí. With initial funding of up to 20 million reais, the programme aims to generate over 20 million credits by 2030, supporting global emissions targets.
The initiative involves public agencies and local communities, aiming for a 10% annual reduction in deforestation while promoting sustainable development. Amid growing scrutiny of voluntary carbon markets, Piauí’s approach seeks to ensure integrity, scale, and equitable benefits.
California issues guidance to support companies ahead of mandatory climate reporting
California has released a detailed FAQ document to assist companies in complying with its upcoming mandatory climate disclosure laws, SB 253 and SB 261. The guidance provides clarity on emissions reporting requirements, timelines, and compliance mechanisms, including the phased approach and assurance obligations. The move aims to ease the transition for businesses, enhance transparency, and align state-level reporting with global standards such as the ISSB and GHG Protocol.
By demystifying regulatory expectations, California reinforces its leadership in climate governance and sets the stage for more robust, consistent corporate climate disclosures across the United States.
Read more here. Mark (Moshe) Segal ESG Today
Microsoft emissions rise by 23%, invests in waste-to-energy project to offset carbon
Microsoft reported a 23% year-on-year increase in emissions in 2023, largely driven by its expanding AI and cloud infrastructure. In response, the company has committed to a new waste-to-energy initiative aimed at capturing 3 million tonnes of CO₂ over the next decade through carbon removal and waste management technologies.
The investment is part of Microsoft’s broader climate strategy to achieve carbon negativity by 2030 and offset all historical emissions by 2050. Despite the rise of emissions, the move signals continued efforts to innovate in carbon removal and uphold its long-term environmental commitments.
Read more here. Carbon Credits
Mars cuts emissions by 1.9% in 2024, launches US $250 million sustainability fund
Mars has announced a 1.9% reduction in absolute GHG emissions across its full value chain in 2024 and launched a US $250 million “Sustainable Ingredients Fund” to accelerate decarbonisation and regenerative agriculture. The fund will support suppliers in transitioning to climate-smart practices, focusing on key crops like cocoa, rice, and mint.
The initiative aligns with Mars’ Net Zero Roadmap, targeting 50% emissions cut by 2030 and net zero by 2050. By combining emissions reductions with targeted investment, Mars aims to scale impact, drive supply chain transformation, and contribute to global climate and nature goals.
Read more here. ESG News Alastair Child Poul Weihrauch
Spotlight
Discussions on global platforms: FFD4 and LCAW 2025
Over the past month, two global forums—the Fourth International Conference on Financing for Development (FFD4) in Seville and London Climate Action Week (LCAW 2025)—marked a decisive turn from ambition to action in the sustainable finance landscape. With world leaders, regulators, financial institutions, and civil society pushing for systemic reforms, both gatherings reaffirmed the urgency of aligning capital flows with global development and climate goals.
auctusESG was proud to contribute to these high-impact dialogues, sharing insights from emerging markets, shaping conversations on just transition and resilience, and advocating for inclusive finance innovations.
FFD4: A new era for development finance
The Fourth International Conference on Financing for Development (FFD4) in Seville culminated in the adoption of the 38‑page Seville Commitment, a landmark political framework aimed at closing the estimated US $4 trillion annual SDG financing gap. Framed as a shift from aid to investment‑led development, the declaration encompasses fiscal transformation, blended finance innovations, tax reform, debt architecture overhaul, and institutional strengthening.
A core focus was on domestic resource mobilisation and tax transparency, with countries pledging to double Domestic Resource Mobilisation (DRM) support by 2030, implement progressive taxation including on natural resources, and form a Global Coalition for Tax Expenditure Reform On debt, the conference launched a UN‑led intergovernmental process exploring state‑contingent clauses for climate shocks, backed the expansion of debt sustainability and restructuring mechanisms, and introduced new tools such as debt‑for‑development swaps, pause‑clause alliances, and a Borrowers’ Forum for nations under debt stress.
To ensure delivery, FFD4 established the Seville Platform for Action, tracking over 130 voluntary initiatives, and stressed stronger national governance, inter‑ministerial coordination, and regular UN dialogues. It introduced the SCALED blended finance platform and supported country‑owned disaster financing mechanisms moving from 2 % to 20 % by 2035. Though there was limited participation from major powers such as the United States, the document represents a renewed political consensus and positions Seville as a springboard for deeper reforms at the UN General Assembly, the 2025 Review Forum, and COP negotiations.
auctusESG at FFD4
Namita Vikas , Founder and MD of auctusESG, was invited to speak at two high-level sessions:
LCAW 2025: Delivery takes centre stage
London Climate Action Week 2025 marked a clear shift from climate pledges to implementation, with over 700 events and 45,000 participants. The focus was on resilience, just transition, and transforming climate finance.
Highlights included:
The week established London’s role as a global hub for ESG-aligned finance while underscoring the need for de-risking instruments and equitable access to climate technologies for emerging economies.
auctusESG at LCAW
As part of its mission to accelerate inclusive climate finance, auctusESG co-hosted and participated in several flagship sessions:
Other engagements
Macroeconomic resilience in small states: fiscal and monetary policy design for sustainable development and climate action
Co-hosted by The Commonwealth and auctusESG, this closed-door roundtable brought together policymakers, financial experts, and multilateral representatives to explore how macroeconomic frameworks can support climate resilience and sustainable development in small states. The dialogue centred on barriers and best practices in fiscal and monetary policy, offering actionable recommendations to enhance economic stability and long-term prosperity
As attention now turns to COP30 and the 2025 global stock take, the conversations in Seville and London have laid the groundwork for a more inclusive, accountable, and action-oriented financial system—one that is capable of meeting the scale and urgency of global climate and development goals. The coming months will be key to translating these frameworks into meaningful capital flows, institutional reforms, and implementation pathways that truly leave no one behind.
Featured events
Oxford Sustainable Finance Summit,16th - 17th July 2025, Oxford, England
The Oxford Sustainable Finance Summit 2025, convenes senior decision-makers across finance, government, academia, and civil society to explore the evolving landscape of sustainable finance. Designed as a platform for strategic dialogue, the event focuses on mobilising capital for sustainability, strengthening regulatory frameworks, integrating environmental risks into financial systems, and advancing innovation. Participants include practitioners, policymakers, regulators, and thought leaders from across the globe.
The Summit aims to drive forward practical solutions and foster collaboration across sectors to accelerate the transition to a more sustainable, resilient, and inclusive financial system, aligned with climate and development goals.
Read more here. Smith School of Enterprise and the Environment - University of Oxford Oxford Sustainable Finance Group University of Oxford
15th Meeting of the Conference of the Contracting Parties to the Ramsar Convention on Wetlands (COP15), 23–31 July 2025, Zimbabwe
The 15th Meeting of the Conference of the Contracting Parties (COP15) to the Ramsar Convention on Wetlands is scheduled for 23–31 July 2025, at Victoria Falls, Zimbabwe, convening 172 contracting parties to develop international action plans under the theme “Protecting Wetlands for Our Common Future”. COP15 will review implementation progress, launch the Strategic Plan 2025–2034, and consider around 25 draft resolutions covering wetland restoration, governance, youth engagement, traditional knowledge, and strengthening global cooperation.
Key objectives include aligning wetland conservation with climate and biodiversity agendas, addressing site delisting and conflict-related damage (notably Ukraine), enhancing synergies with other environmental treaties, and establishing robust scientific, financial, and administrative mechanisms. COP15 aims to enhance resilience in the face of global challenges by advancing wetland conservation, sustainable use, and integration into broader development and climate strategies under the Ramsar Convention.
Insights digest
auctusESG thought leadership
Read more here. Contributed by Animesh Mehta
Market updates, trends and reports
Read more here. Climate Policy Initiative - India Climate Policy Initiative Baysa Naran Pedro de Aragão Fernandes James Dixon Varun Shankar Sasha Abraham Costanza Strinati Barbara Buchner
Read more here. African Development Bank Group Asian Development Bank (ADB) Asian Infrastructure Investment Bank (AIIB) CEB - Council of Europe Development Bank EBRD European Investment Bank (EIB) Inter-American Development Bank Islamic Development Bank (IsDB) New Development Bank (NDB) The World Bank
Read more here. Ebad Ebadi Enrique Aldaz-Carroll The World Bank
Read more here. OECD - OCDE
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