April 2025 Newsletter

Here is our latest selection of sustainability stories from April 2025.

New York State Mandates GHG Reporting for Major Emitters

New York State is stepping up its climate efforts with new proposed regulations requiring large emitters to report their greenhouse gas (GHG) emissions annually. From 2027, facilities producing over 10,000 metric tons of CO₂ per year, including power plants, landfills, and fuel suppliers, would need to start reporting emissions based on 2026 data. This proposal supports New York’s upcoming cap-and-invest programme, which aims to cut emissions through a declining cap and market-based incentives. To ease the transition, the Department of Environmental Conservation (DEC) will provide several support tools including an online reporting platform and training.

Climate Transition in Finance: NYC Pension Funds Hold Asset Manager Accountable

New York City’s public pension funds are warning asset managers to deliver credible climate transition plans or risk losing their mandates. Comptroller Brad Lander has set a June 30 deadline for firms like BlackRock to submit detailed strategies, including full emissions disclosures that cover scope 3. The city’s pension system manages $284 billion in assets and is prepared to reassign funds if expectations are not met. The move reflects growing concern that asset managers are retreating from climate commitments under political pressure. NYC aims to ensure its long-term investments align with its net-zero emissions goal by 2040.

DWS Fined €25 Million Over Misleading ESG Claims

Deutsche Bank’s asset management arm, DWS, has been fined €25 million by German authorities for misleading claims regarding its sustainability practices. An investigation revealed that DWS promoted itself as an ESG leader without sufficient evidence to support its claims. The fine follows a $19 million penalty from the U.S. SEC last year over similar concerns. The case dates to 2021, when whistleblower allegations triggered raids on DWS and Deutsche Bank offices and led to the CEO’s resignation. DWS has since acknowledged its shortcomings and says it has improved oversight and its monitoring of sustainability claims.

Study Shows Most People Want Stronger Climate Action

A global survey of 130,000 people across 125 countries shows that support for climate action is far stronger than most believe. An overwhelming 89% want governments to increase their efforts, but many wrongly believe they are in the minority. This "silent majority" effect is also reflected in climate finance, with 69% reportedly willing to donate 1% of their income while underestimating others' willingness to do the same. Researchers warn that these misperceptions are holding back public momentum. Closing this perception gap could unlock a powerful tipping point, giving policymakers the public backing to implement more ambitious climate policies.

Harvard University Challenges Trump’s Attempt to Dismantle DEI

Harvard University has filed a legal challenge against President Trump over demands to dismantle its diversity, equity, and inclusion (DEI) policies. Earlier in 2025, President Trump signed an executive order calling on federally funded institutions to end their DEI programmes or risk losing grants and contracts. Harvard's refusal led to the freezing of $2.2 billion in research grants. Harvard is the first university to defy Trump DEI policies, though several companies and financial institutions including Apple, Coca-Cola, Costco, and Goldman Sachs have also rejected his demands.

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