Sustainability Weekly 16 – 20 June

Last week, we initiated the coverage of Bravida with a Neutral ESG opinion. Responsible Investor shared the EU Council's proposed amendments to the European Due Diligence Directive (CSDDD), including a restriction of the scope. The European Commission adopted the Defence Readiness Omnibus, and proposed to clarify the concept of controversial weapons based on prohibitions under international conventions. The Paris Air Show was held from June 16 to 22, 2025, with ESG insights on 1/ decarbonization and the increasing need for civil aviation labor, and 2/ the growing reputational risks associated with defense exports. Unsurprisingly, ArcelorMittal confirmed that it shelves decarbonization measures at its German sites, citing an unfavorable market. The Spanish government has published an initial report on the causes of the April 2025 power outage. The insurance sector is facing increasing pressures related to the climate and digital transitions, according to the Swiss Re Institute. In its annual oil report, the IEA highlighted new uncertainties related to the evolution of global oil supply and demand growth drivers. Banks have increased their financing of fossil fuels in 2024, according to the latest Banking on Climate Chaos report. The European People's Party has called for the withdrawal of the Green Claims Directive. A study published in Earth System Science Data suggests that limiting global warming to 1.5°C is now virtually impossible. On the social front, Pernod Ricard will undertake a restructuring with job cuts, according to Le Monde. Unions are contesting changes to the compensation policy of Soitec's CEO. In governance, Luca de Meo announced his departure from Renault to become CEO of Kering.