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A new report renders a damning portrait of Canada’s Big Five banks on their path to net-zero emissions by 2050. The banks racked up $275 billion in loans and bond and equity underwriting to fossil fuel companies between 2020 and 2022, which represents 16.9% of total financing in 2022, up from 15.5% in 2020. .$72.4
The Canadian oil and gas industry is engaging in greenwashing by endorsing a 2050 net-zero target while actively lobbying against measures that would achieve that climate goal, international non-profit InfluenceMap says in a report. C,” the report said. Meanwhile, they’re hiking dividends and share buybacks.
degree Celsius pathway, joining NetZero Asset Managers Initiative. and LONDON, July 29, 2022 /3BL Media/ - AllianceBernstein L.P. (“AB”) Our netzero strategy addresses both the corporate and investment levels. AB to align operations and range of investment strategies with 1.5-degree SOURCE: AllianceBernstein.
Date/Time: March 10, 2022 (2-3PM ET / 11AM-12PM PT) As public pressure for action to tackle climatechange grows, companies are increasingly expected to set and execute on emissions targets aligned with science. The speakers will consider questions including: What is the current state of play in corporate climate action?
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 May, the court found the government’s inadequate climate strategy to be unlawful for the second time. Lord Deben was a principal witness for the prosecution.
It also helps greatly that the country’s climate policies are underpinned by the world’s first climatechange law, introduced in 2008, and a ClimateChange Committee (CCC) that holds the government to account on its targets and progress in reducing greenhouse gas emissions. Others are calling for the U.K.
DESCRIPTION: STOCKHOLM, March 7, 2022, /3BL Media/ - The hygiene and health company Essity has been recognized as Supplier Engagement Leader by the global non-profit environmental organization CDP. The award addresses how Essity successfully has worked with its suppliers in the fight against climatechange. SOURCE: Essity.
DESCRIPTION: FORT WORTH, Texas, April 22, 2022 /3BL Media/ - Last summer, American Airlines made a public commitment to develop a science-based, intermediate target for reducing greenhouse gas (GHG) emissions — the first airline in North America to do so. KEYWORDS: NASDAQ:AAL, American Airlines, NetZero.
Canada is already seeing the effects of climatechange, and the insurance industry is paying close attention. Government and consumer responses to climatechange also affect the insurance industry. What role should the insurance industry play in addressing climatechange? billion to $5 billion per year.
Climatechange is both an urgent issue needing immediate action and a topic that requires long-term planning for positive transformation. Aligned with the work we will do to reach netzero, one of the key pillars in our strategy is accelerating the transition to clean energy.
DESCRIPTION: PARIS and SHARM EL-SHEIKH, Egypt, November 10, 2022 /3BL Media/ — The Consumer Goods Forum (CGF) has launched the NetZero Playbook for Consumer Industries in collaboration with its members, Accenture and the Race to Zero. However, now is the time for action and to make sustainability a force for change.
DESCRIPTION: May 4, 2022 /3BL Media/ - Franklin Templeton has released its annual Corporate Social Responsibility (CSR) Report that addresses its commitment to responsible corporate citizenship and outlines its efforts to build a better future for clients, shareholders and employees as well as the communities it serves around the world.
Italians get climatechange. A broad 2020 climate 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.
The Science Based Targets initiative (SBTi), one of the key organizations focused on aligning corporate environmental sustainability action with the global goals of limiting climatechange,announced a key milestone, reaching more than 10,000 businesses that have set science-based emissions reduction targets, or made commitments to do so.
On January 19, 2023 Lenovo announced its commitment to reach net-zero emissions by 2050, in alignment to the Science Based Targets initiative’s Net-Zero Standard. One year later, Lenovo is on-track to meet its near-term 2030 emissions reduction goals, the first milestone in the journey to net-zero.
The IPCC is expressing the need for urgent action on climatechange and society is expecting sustainability leaders to answer the call. Corporations play an important role in helping tackle climatechange in this critical decade, through emission reductions targets and ambitious netzero goals.
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.
As the costs of renewable energy drop and countries begin their march to the better future of net-zero, we believe this pattern will become even more pronounced,” says Corporate Knights CEO Toby Heaps. According to Bloomberg NEF , global investment in the energy transition surpassed US$1 trillion for the first time in 2022.
“We are here today to address the dire situation we find ourselves in [so we can] tell our children that we did all we could, while we could, to change our trajectory,” said co-plaintiff Shaelyn Wabegijig of the Rama First Nation at a press conference ahead of the hearing. They’re in good company. Kurtis Layden. 28, Ottawa. Pratap Sandhu.
This means changes for how California's entire energy infrastructure is planned and operated. Countdown to 2045: Realizing California's Pathway to NetZero updates and expands Southern California Edison's 2019 analysis, Pathway 2045.
Climatechange and affordability are closely intertwined. The impacts of the climate crisis already cost Canadians an average of $720 per year for things like repairs after flooding or wildfires – and that price tag is expected to double or triple by 2050. Consider how much you spend each year refuelling your vehicle.
In order to avoid the worst impacts of global warming, scientists agree that the world needs to reach net-zero greenhouse gas emissions by midcentury. The idea is that if everyone aims for net-zero by 2050 and comes reasonably close to achieving it, the world will be spared a climate nightmare.
Updated and more ambitious Benchmark used to assess focus companies on their netzero transition plans. Benchmark assessments are a cornerstone of Climate Action 100+ and are intended to help inform investors’ engagement strategies and wider public debate. C remains possible due to the growth of clean energy technologies.
Download the Schneider Electric™ Sustainability Research Institute report Buildings are today responsible for 37% of emissions when considering both direct and indirect emissions (United Nations Environment Programme, 2022), and should be at the core of decarbonization policies worldwide.
Mars said it had reached its goal after a concerted effort to trim the number of mills it works with from 1,500 last year, and it expects to be working with less than 100 in 2021 and under 50 in 2022.
Following on from last November’s COP26 in Glasgow, Climate Innovation Forum (CIF) was seeking continued climate innovation collaboration this year, uniting senior public and private sector decision makers to accelerate the delivery of netzero commitments.
DESCRIPTION: Today marks global Earth Overshoot Day 2022, a reminder that we have reached the limit of Earth’s budget yet another day earlier in the year. While opportunities are clearly seen and resource shortages and climatechange are rated among the top risks to be prepared for, execution is still lacking. by Daniel Schmid.
Globa lly, emissions will need to decrease by 4% every year if the planet is going to reach net-zero by 2050. But early indications from the International Energy Agency are that emissions were up again in 2022. “If If G20 countries meet their pledges , their collective emissions will sh r ink to 25.3
To achieve net-zero emissions by 2050 , the Government of Canada has invested billions of dollars in practical efforts to lessen the effects of climatechange and encourage clean economic growth. But timeliness is essential.
-based think tank InfluenceMap of the 45 biggest asset managers, which collectively hold US$72 trillion in assets under management, found that many are not only far off track from meeting their climate goals – they have regressed. Climatechange is here. But only with dramatic, immediate climate action.” It is terrifying.
The organizations’ key functions include defining and promoting best practice in emissions reductions and net-zero targets in line with climate science, providing technical assistance to companies who set science-based targets, and providing companies with independent assessment and validation of their emissions reduction targets.
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.
Deepki will use the funding to continue to help the real estate sector reach its netzero goal while securing over 200 new hires in 2022. Vincent Bryant, CEO and Co-founder of Deepki, said: “The global real estate sector needs to act now if it is to halve its emissions by 2030 and meet the netzero target by 2050.
Mondelēz 2022 Snacking Made Right Report A more sustainable supply of key raw materials such as cocoa, wheat, dairy, and palm oil is critical to the continued growth and success of our business, to the resilience and prosperity of the communities producing these raw materials, and to the protection of the landscapes the ingredients are grown in.
Launched in 2022, Nellie Technologies produces biochar from algae, using proprietary technology to grow microalgal biomass at speed and at scale, and processing the biomass into biochar and biofertiliser, permanently sequestering carbon and generating carbon dioxide removal certificates (CORCs) for sale in voluntary and compliance markets.
A convoy of tractors was making its way to a Dutch government building in February when Tesla CEO Elon Musk tweeted out his support for farmers revolting against the EU’s regulatory push to drive down climate emissions: “I’m pro-environment, but I support the farmers! Farming has no material effect on climatechange.”
Annual Impact Report Details NetZero, Human Capital Management and Diversity Engagements. billion in assets under management (AUM) as of March 31, 2022, is a top 20 shareholder in more than 275 public companies. Commitment to NetZero by 2050. The entire 2022 Stewardship Report can be found here.
In recent years, some of the group’s largest members – including Microsoft, Ford, Meta, even Shell – have publicly challenged the trade organization’s advocacy around climatechange. Climate-forward corporations the world over are starting to raise their voices against trade groups that actively undermine climate policy.
Adam Scott is d irector and Patrick DeRochie is s enior m anager for Shift Action for Pension Wealth and Planet Health, a charitable initiative that tracks the climate strategies of Canadian pension funds and works to protect pensions and the climate by bringing together beneficiaries and their pension managers to engage on the climate crisis. .
Ahead of COP29, report calls for systemic risks of climatechange to be viewed through both real economy and financial sector lens. Climate-related systemic risk will not be properly reflected by financial markets until governments ensure both real economy and financial sector policies support climate alignment, recent research suggests.
While environmental groups zero in on animal agriculture as a top driver of climatechange, deforestation , biodiversity loss and ocean degradation , a growing number of consumers and governments have been demanding more from the sector to cut its carbon footprint.
Shift Action’s findings are similar to reports released in July from Carbon Tracker , a global advocacy organization on climate and finance, and the Institute and Faculty of Actuaries (IFoA) and the University of Exeter, all based in the United Kingdom. C increase in global temperatures than in 2°C and 3°C scenarios.
president will be taking aim at legislation that resulted in nearly US$300 billion in private-sector investments in clean energy, battery manufacturing and clean power generation, most business leaders recognize that concerns about a worsening climate crisis will grow regardless of shifting political winds. CLIMATE COMMITMENTS 1.5C
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