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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?
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.
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.
both earned spots in the Global 100 ranking, as did telecommunications giants BCE Inc., The Corporate Knights ranking allocates spots by sectors to reflect the globaleconomy. Canadian insurers Sun Life Financial Inc. and Manulife Financial Corp. Telus Corp. and Cogeco Communications Inc. CLIMATE COMMITMENTS 1.5C
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.
Since late 2021, OMERS has announced it would sell its 25% stake in Scotia Gas Networks (SGN), the second-largest gas distribution network in the United Kingdom, as well as its 80% joint stake in GNL Quintero, Chile’s largest fossil gas import terminal. And OMERS might finally be listening. .
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.”?.
The proposed solution for netzero targets and progress aims to improve transparency and accountability, but will need to consider existing guidance. But there is still room for hope that netzero commitments – and subsequent progress on decarbonisation – can be transparent, aligned and ambitious.
Financial regulators should make the tax subsidies banks and pension funds receive conditional on alignment with the net-zeroeconomy. This could help unlock $80 to $200 billion of fresh annual investment into global climate solutions from the pension fund sector alone. The barrier is an incrementalist mindset.
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.
While some recognise carbon offsets markets as key for us to achieve net-zero emissions world by 2050 by funnelling cash into cost-effective projects, others believe credits are a dangerous distraction that allows polluters to pay their way out of the problem. Introduction. 1 – 1.5ºC emission pathway (Source McKinsey & Co).
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
Tourism is projected to make up nearly 12% of the globaleconomy by 2033, but it is also poised to consume a troubling 40% of the world’s remaining 1.5°C trillion to global GDP in 2022, and the WTTC forecasts [pdf] that figure doubling to represent 11.6% Travel and tourism added US$7.7
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
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.
With global trade highly dependent on shipping, achieving netzero may put wind in the sails of other industries’ climate ambitions. For the first time, the IMO has also agreed on an overarching objective to achieve netzero greenhouse gas (GHG) emissions by or around 2050.
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.
Utilities accused of gaslighting investors and policymakers over transition role, as report challenges viability of hydrogen on path to netzero. Canadian pension funds are putting beneficiaries at risk by failing to scrutinise global gas utilities plans to utilise hydrogen to forge a role in the low-carbon transition.
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.
The EU only built 11GW of new wind farms in 2021, with plans to expand this by 18GW a year over the course of 2022-26, according to a report by WindEurope, a Brussels-based association. Instead of slowing down the decarbonisation of the globaleconomy, now is the time to accelerate the energy transition to a renewable energy future.”.
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). .
Both were speaking at a panel session on putting netzero commitments into practice on the second day of the event, hosted by the UN-convened Principles for Responsible Investment (PRI) this week in Toronto, Canada.
That’s over one third of the globaleconomy. Similarly, in 2021, the We Mean Business Coalition mobilized 400 American businesses to sign a letter in support of President Biden’s 50% emission reduction target by 2030. It is safe to say that climate ambition has become mainstream. C pathway .
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