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Despite net-zero pledges, banks used $750 billion to finance fossil fuels in 2020. Net-zero commitments may have ricocheted across banking sector over the last 18 months, but big banks' attestations of climate concern did not stop many from expanding financing for the world's top fossil fuel firms during the pandemic year.
Transform to NetZero: Microsoft, Nike, Starbucks team up on corporate climate alliance. Wed, 07/22/2020 - 00:20. They also have committed to share information on investing in carbon-reduction technologies and to collectively push for public policies that accelerate the netzero transition. Cecilia Keating.
To achieve net-zero, let’s agree on one definition of success. Mon, 09/28/2020 - 01:30. But any chief sustainability officer will fall short of their responsibility if they simply cite net-zero as a strategic goal. After all, it is the world that needs to achieve net-zero emissions. Peter Boyd.
In stopping climatechange, time is as important as tech. The only sure path to stop climatechange is to zero out greenhouse gas emissions as soon as possible. To keep within the remaining carbon budget for 2 degrees C, we have to cut our emissions drastically, reaching net-zero emissions as soon as possible.
HSBC is latest bank to pledge net-zero financed emissions by mid-century. Tue, 10/13/2020 - 00:46. HSBC has become the latest bank to commit to achieving net-zero financed emissions, announcing Monday that it intends to align its portfolio of investments and debt financing with global climate targets by mid-century.
A new report renders a damning portrait of Canada’s Big Five banks on their path to net-zero emissions by 2050. The Big Five banks have taken little voluntary action to align their business practices with their own net-zero commitments,” states the report by InfluenceMap , a global corporate research think tank based in London.
Is the golf industry doing enough to combat climatechange? Sports leagues are seeing the impacts and the surge of climate-responsible athletes using their platforms to promote positive environmental and social impact — it’s something for the history books. Aubrey McCormick. Fri, 04/09/2021 - 02:00. Particularly, Laguna L?ng
2020: Fossil fuels are dead, long live the sun. Thu, 08/13/2020 - 00:15. Consider this: In April, Royal Dutch Shell, one of the largest companies in the world, announced its intent to become a net-zero carbon company by 2050. Hunter Lovins. We’re female entrepreneurs and environmentalists. Is that possible?
DESCRIPTION: On the heels of COP26, investors are not only thinking about the climate-related risks of companies within their portfolios, but they are also considering whether to make new investments or maintain existing investments in high-emitting companies or countries going forward. Engaging for NetZero.
Former chair of the Committee on ClimateChange Lord Deben believes the country can get back on track to netzero and regain its status as a global leader. In 2020, her successor Boris Johnson launched a 10-point plan for a Green Industrial Revolution. Lord Deben was a principal witness for the prosecution.
Many of the world’s biggest banks face the enormous challenge of realigning their entire loans and investment operations in the coming years to put themselves on a credible path to achieve net-zero carbon emissions by 2050. “We Ultimately, best practices come down to are we seeing year-over-year changes in their capital flows?”.
Over the last decade and a half, a standard form has emerged in which governments and corporations have made their promise to do so: the net-zero target. As a strategy, the net-zero target has been criticized by climate advocates; at its worst, it can be a vague, unenforceable greenwashing program. In the U.S.,
Despite this pressure, there is precious little guidance or best practices to guide a company who is just approaching this work for the first time, or those struggling to convince the C suite that carbon reduction goals are now just table stakes en route to a netzero science based target. Wed, 09/02/2020 - 21:35. taylor flores.
Companies and countries all over the world are committing to net-zero goals and pledges to the SDGs; diversity, equity and inclusion goals; human rights — the list goes on. We need to put a lot of zeros on the "More than 1,000 businesses" in order to get to a net-zero carbon economy. Helle Bank Jorgensen.
Canada is already seeing the effects of climatechange, and the insurance industry is paying close attention. As extreme weather events become stronger and more frequent, the Insurance Institute predicts that average annual severe weather claims paid by insurers in Canada will more than double between 2020 and 2030, increasing from $2.1
Apple creates $200 million fund for nature-based climate solutions. Nature-based solutions to climatechange are having a moment, and Apple is riding the trend with a $200 million fund dedicated to related investments. . What started as a $10 million investment became the $100 million Right Now Climate Fund. Jesse Klein.
Italians get climatechange. A broad 2020climate survey by the United Nations Development Programme came as no surprise to Italians, even if it did to other Europeans: 81% of Italian respondents expressed belief in the climate emergency, and 78% said their country should do everything possible to respond to it.
Mon, 12/07/2020 - 01:45. Behind climatechange, the biggest threat to the Great Barrier Reef is poor water quality. Behind climatechange, the biggest threat to the Great Barrier Reef is poor water quality. Behind climatechange, the biggest threat to the Great Barrier Reef is poor water quality.
London-based HSBC Holdings says it will cease financing for the development of new oil and gas fields in order to tackle climatechange while carving out its Canadian unit from the policy change.
The climate crisis needs climate leadership from businesses now. Tue, 09/29/2020 - 01:00. As the world grapples with the effects of the COVID-19 pandemic, racial inequality and more, the impacts of climatechange cannot be ignored. They’re a reminder that climate action cannot wait for calmer times. .
What does 'climate risk' actually mean? Mon, 08/31/2020 - 02:11. Some of those memes get traction — “zero waste” and “netzero” are two relatively recent examples that are having their moment. That is, it’s no longer just about “What business is doing to the climate.” Joel Makower. Business as usual?
DESCRIPTION: Last year marked a global shift in corporations adopting low-carbon and net-zero pledges as experts at the United Nations ClimateChange Conference , COP26, declared that the climate crisis is at a critical inflection point. C commitment and 7,126 companies have joined the Race to Zero.
Mon, 11/30/2020 - 01:00. As fossil fuel companies' social license to operate becomes increasingly frayed, more industries in their orbit are getting entangled in the reputational quagmire that is now part and parcel of any activity that exacerbates the climate crisis. Michael Holder.
Jeremy Lardeau, vice president Higg Index at the Sustainable Apparel Coalition (SAC), joined the “NetZero and Well-Being in Life” virtual workshop jointly organized by the G20 Presidency of India and the G7 Presidency of Japan, and hosted by Boston Consulting Group.
Mon, 06/01/2020 - 00:00. Let’s begin with a few headlines: Southern Company commits to net-zero emissions by 2050. Shell plans to achieve net-zero emissions across its product manufacturing operations. In that case, here are some headlines from May: Total pledges to deliver net-zero operations by mid-century.
Thu, 09/24/2020 - 01:15. businesses, states and cities accelerated their action on climate in 2020. Businesses are increasingly seeing that climate action is not only the right thing to do but it brings material benefits such as increased investment, improved reputation and overall competitive advantage. Erin Billman.
That was one of the central conclusions of Corporate Knights’ latest Earth Index * analysis, which found that G20 countries as a whole were not on track to meet their stated reduction targets from 2020 to 2021. Globa lly, emissions will need to decrease by 4% every year if the planet is going to reach net-zero by 2050.
Originally published in the SEE Impact Report 2022 To mitigate the impacts of climatechange across the value chain, global packaging provider SEE drives strategic initiatives to manage and reduce greenhouse gas (GHG) emissions. Our net-zero road map is a key component to our pledge to leave our world better than we find it.
“If the Competition Bureau’s inquiry confirms that RBC’s statements are misleading and false, RBC could be forced to stop advertising itself as supporting the principles of the Paris Agreement and aiming to achieve net-zero emissions targets by 2050.”. What’s necessary to create more systemic change is stronger regulations.
Green groups urge UN to raise climate ambition on global shipping. Tue, 10/20/2020 - 00:15. With more than one quarter of the global economy committed to achieving net-zero emissions over the coming decades, it follows that the shipping sector will be under increased pressure from governments and private players to clean up its act.
Italians get climatechange. A broad 2020climate survey by the United Nations Development Programme came as no surprise to Italians, even if it did to other Europeans: 81% of Italian respondents expressed belief in the climate emergency, and 78% said their country should do everything possible to respond to it.
DESCRIPTION: As the world’s population grows and more people are lifted out of poverty, society faces a dual challenge—meeting the increasing global need for affordable, reliable energy, while reducing GHG emissions to address the pressing threat of climatechange. Reducing GHG emissions from our operations on a net basis (netzero).
Vanguard, one of the largest investment managers in the world, announced today that it is withdrawing from the NetZero Asset Managers initiative (NZAM), a major multi-trillion dollar group of investment managers committed to supporting the goal of netzero greenhouse gas emissions by 2050.
Wed, 10/07/2020 - 00:15. The destruction of rainforests to make way for palm oil plantations is a major contributor to climatechange and nature loss, due to the crucial role of richly biodiverse tropical forests in sequestering carbon dioxide, absorbing rainfall and releasing water into rivers. Cecilia Keating.
DESCRIPTION: Over a fifth of the world’s largest companies have pledged to reach netzero greenhouse gas emissions by 2050. Based on the numbers it has racked up so far, the company may very well offer others a model on how to craft a net-zero program. A starting point on the road to netzero.
Taking action to achieve NetZero right now is more important than ever, as we only have a narrow window of opportunity to keep the increase in temperature within 1.5?C. The industry has made a commitment to reach netzero by 2050 at the latest. Now is the time to act and realize a NetZero ambition.
Fri, 12/11/2020 - 01:45. billion in alternative proteins during 2020, according to the latest data from the Good Food Institute. How about June, when Unilever committed to zeroing-out emissions from all its products by 2039 ? billion over the next five years as it moves toward a 2050 net-zero target?
Join us for a conversation about the power of companies (big and small) coming together to tackle the climate crisis, and hear why Global Optimism and Amazon co-founded The Climate Pledge—a bold commitment to become netzero carbon by 2040—10 years ahead of the Paris Agreement. . Thu, 08/20/2020 - 08:42.
And then 2020 happened. To our immense satisfaction, we saw little carnage within corporate sustainability departments during 2020 relative to previous economic downturns, when such functions were often among the first to be downsized or jettisoned. That’s changing. And the year ahead certainly would bring more of the same.
Mon, 12/14/2020 - 02:11. Although it certainly wasn’t planned, the interviews I conducted during 2020 largely coincided with the aviation sector’s worst downturn in history. Can Shell help pilot a new era of sustainable aviation? Joel Makower. In some respects, this couldn’t have been a worse time for these conversations.
Buried beneath the dour daily headlines on COVID-19 infections, lockdowns and travel bans, the latest science about our planet released during 2020 makes for tough reading. Despite the reductions in air travel and the global economic slowdown caused by the pandemic, climatechange sadly has not slowed down this past year.
Originally published in Paramount's 2021-2022 Environmental, Social, and Governance Report The impacts of climatechange continue to accelerate around the world and are projected to worsen each year unless we take serious collective action on a global scale. This is likely because they rebounded from 2020 lows.
Taking stock of Chase, HSBC, and Morgan Stanley's recent climate commitments. Tue, 11/24/2020 - 00:40. Recent months have seen major moves on climate action by some of the world’s largest private banks, including JPMorgan Chase, HSBC and Morgan Stanley. They won’t have changed their business model. Whitney Mann.
Amazon, Google, Microsoft and the climate cloud. Thu, 10/01/2020 - 01:30. As part of its long-term strategy, Shell declared a net-zero emissions target by 2050 back in April. . Heather Clancy. But there's a lot more to the relationship.
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