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BP hits the brakes on transition away from fossil fuels

Corporate Knights

Follow This plans to introduce a resolution at BP’s annual general meeting in May calling for the company to align its 2030 targets with the Paris Agreement. This was an increase from the 19% of BP's investments that were classified as sustainable in 2021, according to Corporate Knights sustainable economy intelligence.

Net Zero 330
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The biggest carbon losers

Corporate Knights

As a group, over the course of the past decade (2012 to 2021) these 20 companies slashed their net GHG emissions (Scope 1 and 2) by 43%, from 862 million tonnes to 489 million tonnes. Yet the pace and scale of their reductions is in the realm of what every company and country must do by 2030 to keep the faith of the Paris Agreement.

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Shell Sets 2030 Goal to Reduce Emissions from Customers’ Use of Gasoline and Diesel

ESG Today

Introduces new target, but eliminates 2035 goal due to energy transition “uncertainty” Energy giant Shell announced today the release of “Energy Transition Strategy 2024,” the first update to its “Powering Progress” strategy, launched in 2021, outlining the company’s climate transition roadmap and goals.

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How to Re-establish the UK’s Lead on Climate Change

Chris Hall

When Glasgow hosted COP26 in 2021, bringing together 120 world leaders and more than 40,000 participants, the UK was seen as a world leader in the battle against climate change. Back then, I wouldn’t have believed that we would come so far in international collaboration on climate change, such as the Paris Agreement,” he said.

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The Climate Blockers: BASF quietly lobbies against strong climate policy while talking a big game

Corporate Knights

It has publicly endorsed the Paris Agreement on climate change as well as the EU’s target of being net-zero by 2050. In 2021, BASF purchased a major share of the world’s largest wind farm – Hollandse Kust Zuid – which is currently under construction in the North Sea, some 50 kilometres off the Dutch coast.

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Glencore Abandons Coal Demerger at Investors’ Request

Chris Hall

Anglo American sold its thermal coal portfolio in 2021, while BHP announced in 2022 that it would close its last such mine in 2030. This leaves it heavily exposed to reputational, regulatory and stranded-asset risk, leading many investors to avoid it.

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Litigation Surge Reflects Evolving Climate Duties

Chris Hall

The report cites a global total of 2002 cases, brought by May 2021, according to the Climate Change Laws of the World (CCLW) database, maintained by the London School of Economics’ Grantham Research Institute on Climate Change and the Environment, supplemented by the United States Climate Litigation Database. Vital role of non-execs.