CleverAdviser
Market recap.
ESG strategies declined in-line with the broader market, with the ESG Universal strategy leading whilst the unconstrained MSCI ACWI was middle-of-the-road.
(1 week performance from 19/08/24 to 23/08/24)
Taking stock of the year so far, the Universal strategy leads again, whilst the unconstrained ACWI strategy is second to last.
(Year to date performance from 01/01/24 to 23/08/24)
News.
Meta (Facebook) signs renewable energy agreement to power buildings
Power producer RWE announced it has signed two, long-term power purchase agreements (PPA) with Meta from two solar farms under construction in the U.S., providing renewable energy for Meta’s operations including data centres and offices.
Onsite construction is underway on RWE’s 274-megawatt (MWac) County Run Solar project in Illinois and on its 100 (MWac) Lafitte Solar project in Louisiana, with commissioning planned for both sites in late 2025.
GM Signs its Largest Renewable Energy Deal
Automotive giant GM announced today that it has signed a 15-year renewable energy purchase agreement with NorthStar Clean Energy, a unit of CMS Energy, to fuel three GM assembly plants.
With the new purchase agreement in place, GM said that it now has sourcing agreements from 17 renewable energy plants across 11 states, making the company the automotive industry’s largest buyer of renewable power by capacity.
Ambercycle Raises $10 Million for Circular Materials Plant from Shinkong
Taiwanese polyester manufacturer, Shinkong Synthetic Fibers Corporation, has announced that it has invested $10 million in circularity-focused materials sciences company Ambercycle’s first commercial plant, aimed at producing premium materials from end-of-life textiles, expected to open in 2026.
Founded in 2015, Los Angeles-based Ambercycle takes end-of-life fabrics, shreds them, separates them into their base materials, removes dyes and finishes, and resells the materials to manufacturers.
KLA Sets New 2030 Scope 3 Goal to Reduce Emissions from Use of Products
Global semiconductor equipment and services company KLA today announced that its near-term targets to reduce greenhouse gas (GHG) emissions have been approved by the Science Based Targets initiative (SBTi) including its new Scope 3 goal targeting emissions from the use of its products by customers.
Sources:
Anthony Walters – Head of ESG at Clever Adviser Technology Ltd (Clever)
Market recap Data sourced from FE FundInfo & Koyfin (quoted in Pounds Sterling).
News Meta Signs PPAs with RWE to Power Data Centers, Offices from New U.S. Solar Farms by ESG News, 15/08/24
News GM Signs its Largest Renewable Energy Deal, by ESG today, 15/08/24
News Ambercycle Raises $10 Million for Circular Materials Plant from Shinkong by ESG Today, 14/08/24
News KLA Sets New 2030 Scope 3 Goal to Reduce Emissions from Use of Products, by ESG News, 15/08/24
Risk Warning:
These are Anthony’s views at the time of writing and should not be construed as investment advice. The opinions expressed are correct at time of writing and may be subject to change. Capital is at risk. The value and income from investments can go down as well as up and are not guaranteed. An investor may get back significantly less than they invest. Past performance is not a reliable indicator of current or future performance and should not be the sole factor considered when selecting funds.
