Latest news with #EuropeanSustainabilityReportingStandards
Business Wire
10-07-2025
- Business
- Business Wire
Nebius Group 2024 Sustainability Report highlights importance of sustainability to long-term value creation in AI infrastructure
AMSTERDAM--(BUSINESS WIRE)--Nebius Group N.V. (NASDAQ: NBIS), a leading AI infrastructure company, today published its 2024 Sustainability Report, reinforcing its position as a sector leader in transparency around sustainability issues and underscoring how sustainability delivers wins for Nebius, our customers, and society more broadly. Prepared referencing European Sustainability Reporting Standards (ESRS), the report shows how Nebius embraces sustainability as a core element of its business strategy. This translates directly into competitive advantages including operational cost leadership through energy efficiency; regulatory readiness for emerging standards; and differentiation in an increasingly sustainability-conscious market. John Boynton, Chairman of Nebius, said: "Sustainability is not something we do on the side — it is integral to how we are building our business to be competitive. This is a strategic approach in which every efficiency gain we engineer into our infrastructure translates directly into better performance. When we save 10 GWh of energy through hardware optimization or achieve a PUE of 1.1 at our data centers, we are delivering superior economics that enable long-term value creation while reducing environmental impact." The 2024 Sustainability Report shows how Nebius's strong performance across key sustainability metrics translates directly to business advantages. The company achieved approximately 20% lower TCO through infrastructure efficiencies, including resilient hardware design and energy efficiency solutions, while its custom-designed servers saved 10 GWh of energy in 2024 alone compared to off-the-shelf alternatives. Nebius's flagship data center in Mäntsälä, Finland, showcases the company's approach to marrying high performance with outstanding efficiency in its infrastructure, including in-house designed hardware optimized for thermal management, water- and refrigerant-free air cooling, and recycling of server heat. The data center's innovative heat recovery system covers 65% of the local municipality's heating needs, transforming what other providers consider waste into a valuable community resource. The Company's commitment to low-carbon operations is reflected in its energy sourcing, with 94% of electricity consumed coming from low-carbon sources. This results in a market-based emissions intensity of just 0.04 tCO₂-eq per 1 MWh of energy used — among the lowest reported in the technology sector. Nebius also recycled nearly 100% of its retired hardware, addressing growing concerns over e-waste as GPU generations evolve rapidly. You can read more about Nebius's comprehensive approach to sustainability — including our approach to sustainable computing, social impact through educational initiatives, and how our highly performant infrastructure integrates the highest standards of security and reliability — in our 2024 Sustainability Report, available at About Nebius Group Nebius (NASDAQ: NBIS) is a technology company building full-stack infrastructure to service the rapid growth of the global AI industry, including large-scale GPU clusters, cloud platforms, and tools and services for developers. Headquartered in Amsterdam and listed on Nasdaq, the company has a global footprint with R&D hubs across Europe, North America, and Israel. Nebius's AI Cloud has been built from the ground up for intensive AI workloads. With proprietary software and hardware designed in-house, Nebius gives AI builders the compute, storage, managed services and tools they need to build, tune and run their models. As well as its core AI infrastructure business, Nebius Group also operates additional businesses under their own distinctive brands: Avride — one of the most experienced teams developing autonomous driving technology for self-driving cars and delivery robots. TripleTen — a leading edtech player in the U.S. and certain other markets, re-skilling people for careers in tech. It also holds equity stakes in other businesses including ClickHouse (open-source column-oriented DBMS) and Toloka (a data partner for AI development).
New Straits Times
03-07-2025
- Business
- New Straits Times
More practical sustainability reporting, Asean-style
KUALA LUMPUR: The Asean Business Advisory Council (Asean-BAC) Malaysia has unveiled a regional policy statement calling for a unified approach to sustainability reporting across the region. The statement, issued in collaboration with Asean-BAC Malaysia's partners Asean Sustainability Reporting Advocacy Collaborative (Asrac), aims to reduce duplication and make reporting more practical for businesses of all sizes throughout the region. It also calls for the adoption of the International Sustainability Standards Board standards as a global baseline, implemented through a building-blocks approach that enables jurisdictions to add other requirements beyond climate related financial disclosures. The statement also advocates for transition relief for businesses to minimise the reporting burden required by other regulators such as European Sustainability Reporting Standards and emphasises the importance of proportionality. This ensures that reporting frameworks remain practical and scalable for businesses of all sizes especially small and medium-sized enterprises. The statement also outlines practical implementation pathways including engagement with finance ministries, capital market regulators, and international standard-setters; support for a unified platform for environmental, social and governance (ESG) data, and capacity-building through regional partners. Asrac chair and Asean-BAC Malaysia executive director Jukhee Hong said the statement reflects the collective position of the private sector on how standard setters and regulators can help address the challenges faced in meeting the climate reporting requirements "By confronting the 3Cs challenges in, compliance, cost, and capacity; and advocating for scalable, proportionate disclosure requirements, we are urging a shift from reporting complexity to clarity. "This is Asean-led collaboration in action, pragmatic, inclusive, and aligned with the needs of all businesses, especially SMEs," he said in a statement. Asean-BAC Malaysia chairman Tan Sri Nazir Razak said Malaysia now has a unique opportunity to advocate how the future of sustainability reporting in our region should be shaped. "Asrac is precisely the kind of forward-looking advocacy initiative that Asean-BAC is proud to lead. "It reflects the collective voice of the private sector and professional bodies on how reporting standards should evolve," he added. ACCA director of Asia Pacific Pulkit Abrol said today's finance leaders are stewards of people, planet and prosperity. He added that the statement offers a timely call for alignment around ISSB standards, grounded in proportionality and global relevance. "As a knowledge partner to Asean-BAC, we are pleased to contribute to a path that safeguards regional competitiveness while ensuring Asean's voice is heard in shaping the future of global disclosure frameworks," he noted.
Fibre2Fashion
30-06-2025
- Business
- Fibre2Fashion
South Korea's Misto unveils 2024 ESG report under new brand identity
Misto Holdings announced today the release of its sixth annual sustainability report for 2024 and the first under its new brand identity, following its name change earlier this year. Reflecting the company's renewed brand identity of Redefining Boundaries , the report outlines Misto's key strategies and execution frameworks across three ESG pillars: Resilient Planet, Empowering Society, and Responsible Governance. In its latest report, the company adopted a Double Materiality Assessment aligned with the International Sustainability Standards Board (ISSB) and European Sustainability Reporting Standards (ESRS), identifying key sustainability issues, including climate action, sustainable product expansion, chemical management, greenwashing prevention, and supply chain management. Misto Holdings released its 2024 sustainability reportâ€'its first under the new brand identityâ€'detailing ESG strategies across planet, society, and governance. Highlights include expanded Scope 3 emissions data, circular product launches, strengthened supplier compliance, global social initiatives, and a 158.7% rise in shareholder returns, reinforcing its renewed sustainability commitment. In the Environmental (E) section, Misto expanded its Scope 3 greenhouse gas emissions disclosure categories from four to five, and, for the first time, disclosed emissions data across its supply chain. Biodiversity risk assessments were also conducted at key entities in South Korea, Mainland China, and Italy. Circular economy initiatives included the upcycling campaign Return to Care , reuse of sample materials into shoe risers and floor mats, and the official launch of FILA Re:Deuce —a sustainable product line under the FILA brand. In the Social (S) area, Misto strengthened supply chain compliance through the introduction of third-party audits and held 25 supplier sustainability roundtable meetings and trained 27 suppliers in sustainable management practices. The company, along with Misto Korea and the FILA Museum Foundation, demonstrated strong social commitment through global initiatives such as Türkiye earthquake relief, support for underserved youth, and psychological care for cancer patients. From a Governance (G) standpoint, Misto Holdings delivered notable progress to enhance shareholder value. Total shareholder returns in 2024 increased 158.7% year-over-year, with a payout ratio of 201.2%. Since last year, the company has strengthened cross-organizational alignment and execution by establishing 'Global Compliance Network,' an internal task force composed of compliance officers from Misto Holdings and its major subsidiaries, to share group-wide sustainability initiatives and strategies. A Misto Holdings representative stated, 'With our recent name change, we are embracing our corporate responsibility for a sustainable future with greater responsibilities,' adding, 'We will continue to strengthen ESG management with unwavering determination and company-wide accountability to deliver real results and achieve sustainable growth.' Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged. Fibre2Fashion News Desk (RM)
Forbes
12-06-2025
- Business
- Forbes
New York Fails To Adopt Climate Reporting Requirement In 2025 Session
The New York state Assembly Chamber is seen on the opening day of the 2023 legislative session at ... More the state Capitol Wednesday, Jan. 4, 2023, in Albany, N.Y. (AP Photo/Hans Pennink) When California adopted climate reporting requirements in 2023, it opened the door to a potential wave of state level regulations relating to sustainability and climate change that could build on federal requirements. With Trump winning the 2024 elections and the U.S. Securities and Exchange Commission ending the climate-related risk rule, activists shifted focus to Democrat controlled states. In early 2025, the New York State Senate introduced legislation that mimicked California's requirement. However, when the legislative session closed on June 12, those proposals had failed to make it out of committee, closing the door on mandatory sustainability reporting until 2026. Climate reporting, sustainability reporting, and environmental, social, and governance reporting experienced a surge of interest starting in 2019. These reporting requirements are designed to work in tandem with regular financial reports to provide information to investors on other activities of the company not directly related to finances. Climate reporting, or climate-related risk reporting, is the main driver of new reporting requirements. It stems from the Paris Agreement and the goal to reduce greenhouse gas emissions to 'net zero' by 2050. During the 2019 United Nations Conference of Parties in Glasgow, the International Financial Reporting Standards Foundation announced the creation of the International Sustainability Standards Board to create global reporting standards. In March 2022, the SEC announced they would begin the rulemaking process to create a climate-related risk rule requiring publicly traded companies to report GHG emissions and climate risks. In the European Union, the Corporate Sustainability Reporting Directed was adopted in September 2022, mandating the creation of European Sustainability Reporting Standards. The IFRS Sustainability Reporting Standards were released by the ISSB in June 2023, with a focus on GHG emissions and climate action. The next month, the European Union adopted the ESRS, incorporating the IFRS standards for environmental issues, while adding human rights and governance issues for a broader ESG reporting requirement under the CSRD. After years of delays, in March 2024, the SEC adopted a climate-related risk rule, but it was promptly met with legal challenges and implementation was postponed. Following the election of President Trump to a second term, the SEC began taking steps to rollback the reporting requirement. With the certain death of sustainability reporting at a federal level, advocates shifted focus to states to get them to follow California's lead. Given its international reputation as the business hub of the U.S., New York was a major focus for this changes. As the second largest Democrat controlled state, behind California, it was more likely that they would follow California's lead. New York's proposal were introduced in the Senate in the form of Senate Bill 3456, titled the Climate Corporate Data Accountability Act, and Senate Bill 3697, titled the Climate-Related Financial Risk Reporting Bill. The proposals mimicked the California legislation, requiring GHG emission reporting for Scope 1 and Scope 2 starting in 2027, for FY 2026, and Scope 3 starting in 2028, for FY 2027. For most state legislatures, they are considered part time. As a result, they only meet for limited periods annually, or in some cases biennially, to conduct business in a 'legislative session.' The New York legislature meets for approximately 60 days every year. The 2025 legislative session started on January 8 and concluded on June 12. Within the respective chamber, bills must work through a committee process that requires approval from committees that are deemed to have an interest in the legislation. Once approved by the committees, the bills are sent to the floor for a vote by all members, then sent to the other chamber for their approval. New York's climate reporting bills were originally sent to the Senate's Environmental Conservation Committee and passed unanimously. That is as far as they got. Both bills were then sent to the Finance Committee, where they never called for a vote. The bills have, for all intents and purposes, died in committee. This is even more surprising when you consider the make up of the Senate. The New York State Senate is composed of 63 members. Currently, 41 are Democrats and 22 are Republicans. The Democrats have a super majority of the Senate, giving them near full autonomy to pass what legislation they deem fit. That climate reporting bills failed to make it out of committee is significant. It should be noted that the New York legislature never officially ends session. Unlike Florida that typically only meets for 60 days, then holds a ceremony signalling the official end of the legislative session, New York does not officially gavel the session closed. Instead, they go into recess. It is a procedural technicality that allows them to re-adjourn without the intervention of the Governor. However, they only meet outside the typical legislative session in exceptional circumstances. What isn't passed by June 12 will not pass. As climate activists are facing major setbacks on sustainability reporting requirements internationally, including a current debate to reduce the reporting requirements in the European Union's CSRD, the failure of New York to consider the proposal is a signal of a broader, bipartisan pushback. A similar failure in Democrat controlled Colorado further highlights the issue. It was assumed that what was lost at the federal level would be gained at the state level, that appears to be a fallacy. The question is shifting from what states will join California, to whether California will continue to stand alone.
Yahoo
27-05-2025
- Business
- Yahoo
ICAEW calls for alignment with ISSB in ESRS
The Institute of Chartered Accountants in England and Wales (ICAEW) has called for the European Sustainability Reporting Standards (ESRS) to align with and build from the International Sustainability Standards Board's (ISSB) standards. With more than 6,500 ICAEW members situated in the European Economic Area and various UK companies potentially subject to these standards, the organisation emphasised the need for clarity and alignment in sustainability reporting. ICAEW expressed its support for the ambitions of the European Green Deal and the provisions outlined in the Corporate Sustainability Reporting Directive. However, the institute highlighted that the ESRS development in an accelerated manner led to flaws that could weaken the Green Deal objectives. The organisation expressed concerns regarding the principal purpose and objectives of ESRS, which are not easily understood. According to ICAEW, the prescribed information often lacks value for decision-making, and there are contradictions and ambiguities within the standards. Other concerns highlighted by the organisation include the overly detailed requirements which it says are not in line with public messaging on interoperability, and a lack of clarity over important aspects of the double materiality requirements. The European Financial Reporting Advisory Group's (EFRAG) standard-setting process has been unduly rushed, leaving insufficient time to properly consider stakeholder feedback. ICAEW's head of corporate reporting, audit and assurance Nigel Sleigh-Johnson said full alignment with ISSB standards would remove duplication of effort in standard-setting and allow the EFRAG time to focus on addressing the most challenging provisions. Incorporating the ISSB's work could simplify the development of standards applicable beyond the EU, according to Sleigh-Johnson. He also emphasised the importance of aiming for equivalence rather than mere interoperability to foster stakeholder trust in global sustainability reporting. Sleigh-Johnson said: 'We therefore support calls for the European Commission to prioritise the work needed to enable equivalence to be possible.' While acknowledging the pressure on the EFRAG to expedite the workplan, ICAEW insists on due process procedures that ensure quality and stakeholder engagement. These procedures should include a full public consultation and careful consideration of feedback, crucial for the success and credibility of the reporting standards. "ICAEW calls for alignment with ISSB in ESRS" was originally created and published by The Accountant, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
