š” 4.7x the margin for ESG-centric companies
+ a week after Mass. passed climate bills, Maryland is following suit with sweeping legislation of its own...
Happy tax dayā¦
If youāre reading this, hopefully youāve paid up or filed for your extension. If not, good luck today ;)
Nothing crazy going on in the past week, but letās dive in to some developments of note!
Todayās newsletter will take ~ 2.5 minutes
Trends
Both individuals and companies are buying up large swaths of land in Scotlandās highland communities, aiming to create new forestation projects that will sequester carbon and thereby generate carbon credits which can then be sold to polluters.
Deals & Developments
JP Morgan unveils shiny new net zero HQ
The new 2.5m SF office building, scheduled to be complete by summer 2025, will incorporate various technologies, minimizing electricity usage, and enabling complete power by renewables to achieve its target of net zero operations.
The project plans to use 97% upcycled construction materials from demolition of current building at 270 Park Ave.
Toronto breaks ground on 84,000 SF net zero community center
The building aims to be the first in Ontario to achieve the Zero Carbon Building Certification, using a variety of technologies including bifacial solar, enabling reflected light to be absorbed and used.
Technology
Passive Logic, a smart building platform, raises $15m
Their digital-twin-based building management system enables property owners to optimize all building systems from one platform, creating a solution for highly efficient building design and operations.
Legislation
Maryland passes sweeping climate legislation
A week after Massachusetts passed similar legislation, Maryland has followed suit with their own Climate Solutions Now Act, outlining a roadmap for state buildings and infrastructure to obtain at least 75% of their energy from zero-carbon resources.
Quick Takes
The growing carbon sequestration market
The sustainable entertainment network
Fact for Thought
Per Accenture, between 2013-2019, companies with consistently high environmental, social and governance (ESG) performance enjoyed 4.7x higher operating margins and lower volatility than low ESG performers over the same period.
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