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The State of Green Business 2021. Mon, 01/25/2021 - 02:11. The report, published in partnership with S&P Global Trucost, is a free download. As we dare to look ahead, however tentatively, at 2021 and beyond, we see more of the same. Joel Makower. Now, where were we?
Herweijer joined HSBC in 2021 as Group Chief Sustainability Officer and a member of the Group Executive Committee, and has overseen the development of the bank’s netzero strategy, including its portfolio decarbonization targets. Prior to joining HSBC, she served as Global Sustainability and Innovation Leader at PwC.
Let’s begin with a few headlines: Southern Company commits to net-zero emissions by 2050. Microsoft committed to protect more land than it operates on globally by 2025. Shell plans to achieve net-zero emissions across its product manufacturing operations. Pernod Ricard moves up ban on single-use plastics to 2021.
The company was one of the first oil majors to commit to being net-zero in 2050 and was showing signs it was open to speeding up its transition to a low-carbon future. The company is still committed to being net-zero by 2050, but observers say it’s a lot harder to see a pathway to reach such a goal without a stronger target for 2030.
In the last week of 2021, we lost three giants of humankind. Financial firms have pledged that more than US$130 trillion of assets will be net-zero by 2050. And 130 countries have also promised to reach net-zero emissions by 2050, including all the G7 countries and South Africa. What is the right speed?
With more than one quarter of the globaleconomy 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. It is also working to introduce net-zero emissions ships in U.K.
JPMorgan Chase wants to be the commercial bank for ‘green economy’ companies. Mon, 04/12/2021 - 00:05. investment banks — Bank of America, Citibank, Goldman Sachs, JPMorgan Chase and Wells Fargo — have adopted net-zero financing pledges, both for their own operations and their investment portfolios. Heather Clancy.
Updated and more ambitious Benchmark used to assess focus companies on their netzero transition plans. C pathway set out in the International Energy Agency’s NetZero Emissions by 2050 Scenario (NZE). The Alignment Assessments further underpin this, with low evidence of companies adopting strategies in line with a 1.5°C
Mon, 01/25/2021 - 00:30. Despite the reductions in air travel and the global economic slowdown caused by the pandemic, climate change sadly has not slowed down this past year. Despite the reductions in air travel and the global economic slowdown caused by the pandemic, climate change sadly has not slowed down this past year.
Tue, 04/20/2021 - 02:11. The push to quickly transition carbon-intensive activities away from fossil fuels while meeting the world’s growing energy needs has put electricity producers and consumers squarely in the forefront of the emerging clean economy. Electrification gets down to the wire. Joel Makower. Subscribe here.
As the lynchpin of the globaleconomy, financial institutions not only carry a responsibility to help mitigate climate change, they are also vulnerable to its financial risks. KEYWORDS: NetZero, SEC, Climate Risk, CERES. Senior Associate, Ceres Company Network. Technical Analysis by FutureProof.
Mon, 05/10/2021 - 01:30. With ESG gaining more attention and more companies committing to reaching net-zero emissions in the coming decades or otherwise pledging to do better by people and the planet, it’s inevitable that the next generation of professionals in the field will define the future of sustainable finance.
Net-zero commitments exploded last year, with the number of companies making them doubling. Race to Zero, part of the U.N. Framework Convention on Climate Change, estimated that net-zero commitments covered about 68 percent of the globaleconomy in 2021, compared to just 16 percent in 2019, a more than fourfold increase.…
Lenovo set a vision to reach net-zero emissions by 2050, with targets currently under review for validation from the Science Based Targets initiative. . Lenovo is committed to our vision to provide smarter technology for all and helping to decarbonize the globaleconomy – one of humanity’s greatest challenges.”?.
Ninety One’s Global Environment strategy is a high conviction, concentrated global equity portfolio that provides exposure to the multi-decade structural growth opportunity from decarbonization, by investing in the equities of companies expected to contribute to the transition to a lower-carbon globaleconomy.
This will create positively reinforcing ambition loops that can drive the scale required: the right government policies and incentives allow companies to decisively invest in net-zero solutions, which in turn gives governments confidence to step up ambition. . Mitigation: Business and governments must go all in to cut emissions. .
Global management consulting firm McKinsey & Company’s sustainability-focused platform McKinsey Sustainability and Moody’s financial intelligence and analytical tools unit Moody’s Analytics announced today the launch of a suite of solutions aimed at helping banks identify, measure, and act on climate change-related risks and opportunities.
The company is aiming to halve greenhouse gas emissions by 2030 and reach net-zero emissions by 2040. billion in net sales were influenced by its Sustainable Impact efforts in 2021 — a threefold increase from a year earlier. In 2021, HP set its aggressive and comprehensive 2030 agenda, taking that complexity into account.”
A Strategy Rooted in Decarbonization Emphasizing DP World's broader sustainability strategy, these cranes are fully powered by electricity, aligning with the company's global objective of achieving 100% carbon neutrality by 2040 and net-zero carbon status by 2050.
DESCRIPTION: As the world continued to experience the direct and indirect impacts of the COVID-19 pandemic, including global supply chain disruptions, resource shortages, employment challenges and inflation – these have not been easy times. In 2021, 50 billion cartons, equivalent to 1.2
Investor network seeks to enhance netzero alignment in hard-to-abate industry. A new report from the Institutional Investors Group on Climate Change (IIGCC) – ‘I nvestor expectations of chemical companies’ transition to netzero ’ – targets increased disclosures and transparency from the highly polluting sector.
The NetZero Asset Owner Alliance (NZAOA) has called on governments to swiftly implement and intensify climate-related policy that facilitates capital flow towards the netzero transition. C no/low overshoot scenarios to set the ambition level for sub-portfolio and sector targets. At the global level, IPCC 1.5°C
Despite net-zero pledges, banks used $750 billion to finance fossil fuels in 2020. Fri, 03/26/2021 - 00:05. The green groups behind the report have warned of an "alarming disconnect" between the global scientific consensus on climate change and the ongoing practices of the world's leading banks. Cecilia Keating.
According to a government statement announcing the launch of the new framework, the initiative forms part of Canada’s commitment under the Glasgow Statement, a 34-nation agreement signed at the 2021 COP 26 summit , to shift public finance away from fossil fuels and in support of the energy transition.
Climate Action 100+ (CA100+) has launched the NetZero Standard for Diversified Mining to provide its signatories and investors with a “transparent, systematic, and evidence-backed” engagement tool. Gardiner said that current volumes of mined coal are “well above ” what is needed in a netzero world.
The group behind the FiveT Hydrogen Fund suggest it will play a major role in the decarbonisation of the globaleconomy. Accelerating the build-out of hydrogen infrastructure will radically improve national and corporate abilities to meet netzero and decarbonisation targets.
percent of the globaleconomy is circular. To reach our NetZero carbon ambition across our value chain by 2040, we need to reduce carbon emissions also in the supply chain and enable circularity through reuse and recycling. This is where the concept of circular economy enters the stage. SOURCE: Ericsson.
To achieve this goal, participants agreed that GHG emissions must be halved by 2030 and fall to “net-zero”—meaning that emissions still being generated are offset by reduction of the same amount elsewhere—by 2050. 2°C reduction target, on the way to achieving science-based netzero targets by 2050. Net-zero targets.
UK asset owner now 10 years ahead of netzero target; switches climate engagement focus to auto sector. The CEPB has significantly cut back on exposures to “companies that are not aligning to the transition” to a low-carbon global energy system. On the road to netzero.
The number of firms taking a science-based approach to CO2 emission reductions doubled in 2021, according to a new report by the Science-Based Targets initiative (SBTi). In Q4 2021, the organisation launched the Net-Zero Standard to provide guidance, criteria, and recommendations in order to drive a shift towards 1.5°C-aligned
The energy industry and many corporations believe the hydrogen economy needs to build scale at speed to become a key part of the net-zeroglobaleconomy. We are very pleased to receive such interest from these highly respected firms.
Government responses could accelerate or delay the global transition to netzero emissions, according to Joe Noss, Senior Director at the WTW Climate and Resilience Hub. The conflict has also had severe implications for the globaleconomy and energy markets. Inflation has soared in many economies.
It is through good stewardship that corporate engagement can drive high carbon emitting companies to develop and implement a netzero transition plan, which will ultimately help to decarbonise the globaleconomy,” says Stephanie Pfeifer, CEO at the Institutional Investors Group on Climate Change (IIGCC). .
While the non-profit acknowledged that economic prosperity is linked to energy access, it argued that transitioning the globaleconomy doesn’t hinge on demand being met, but rather on how it is met.
2021 was an uncommon and tough year due to COVID19 guiding our lives. In this article, I’ll summarise key sustainability events defining 2021 and then present four sustainable ESG trends that will settle companies’ environment in 2022. 2021 Sustainability Summary. ESG trends in 2022: Net-Zero ambition.
Despite the precariousness of the pathway to netzero, COP26 generated a renewed sense of urgency and optimism as to how to support emerging markets and deal with heavy greenhouse gas emitters. Subsidies for the production and consumption of coal, oil and natural gas was already increasing in 2021 before the invasion of Ukraine.
According to An, the coming together of the finance sector in support of the global transition to netzero has been responsible for propelling sustainability into the mainstream. In 2019 and 2020, health and safety emerged as the top priority due to the Covid-19 pandemic.
As of November 2021, more than 1,000 companies spanning 53 sectors in 60 countries have set 1.5 At COP26, the Science Based Target initiative (SBTi) launched the Net-Zero Standard , the first credible and independent assessment of corporate net-zero target setting. Go All-In for 1.5C. Collaboration is key.
With the globaleconomy heavily reliant on ocean health, a sustainable future is paramount. To date, the ocean and its ecosystems have provided significant benefits to the global community, including climate regulation, coastal protection, food, employment, recreation and cultural well-being. What is the scale of the problem?
Only a root-and-branch transformation of our economies and societies can save us from accelerating climate disaster.” gigatonnes of CO2 equivalent, less than one per cent, off projected global emissions in 2030. NDCs submitted this year take only 0.5 C increase, so there is hope.
The cost of climate change is rising at an alarming pace, with ripple effects being felt across communities and the globaleconomy. According to the International Energy Agency’s (IEA) World Energy Outlook in 2021, air pollution contributes to more than 5 million premature deaths each year.
Countries, cities and regions representing over 50 percent of world GDP have net-zero targets in place, as do more than 1,500 companies with combined revenues of $12.5 For that outcome to occur, worldwide emissions must reach net-zero by 2050 at latest. . trillion USD. . C of warming.
The UK government has set a target of achieving netzero emissions by 2050. The UK’s commitment to achieving netzero in general is enshrined in the Climate Change Act of 2008 (as amended). To help achieve this, it has introduced mandatory climate-related disclosure requirements for large UK companies.
Over the last five years, the FTSE Environmental Opportunities All Share (EOAS) Index outperformed the FTSE Global All Cap by 5.9%. However, investment in the green economy must grow markedly faster in order to meet global climate targets, the report highlighted. Sectoral splits. Growth drivers.
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