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Nordea’s divestment, along with pressure from other institutions, such as Norwegian pension fund KPL, led to a pledge from JBS to use blockchain to monitor its entire supplychain by 2025, including the problematic "indirect suppliers" that have been linked to illegal deforestation.
Funds marketed as environmentally friendly are being used by major asset managers to funnel millions of dollars to the world’s largest meatpacker, JBS, a company notorious for its links to deforestation and human rights abuses via its supplychain. JBS is widely regarded as an ESG pariah.
KLA Commits to Cut Emissions in Half by 2030, Reach Net Zero by 2050. Texas Places BlackRock, Credit Suisse & UBS on Divestment List for “Boycotting” Fossil Fuel Companies in Anti-ESG Backlash. Canada Signs EV and Battery SupplyChain Agreements with Volkswagen, Mercedes-Benz. Government & Regulators.
Billion From BlackRock Over ESG Investing BlackRock Calls Texas Decision to Divest $8.5 This week in ESG news: Texas pulls $8.5 Renewables Developer Avantus Renovare Raising $7.5 Million to Turn Landfill Waste into Renewable Biofuels ESG Investing Texas Pulls $8.5
When the wind farm has been fully commissioned, Ørsted will divest the transmission assets to a new owner. According to Ørsted, Hornsea 3 will play a key role in the development of a larger UK supplychain to support the next phase of the UK’s offshore wind success. GW from onshore wind and solar PV and 2.5
Manufacturers embarking on transformational journeys are challenged by complex supplychains, heavy assets, and legacy technology. Benedetto realized that retailers often become paralyzed when faced with objectives like becoming 100% sustainable by 2030.
(“O-I Glass” or “O-I”) has announced the launch of a lightweight glass wine bottle with reduced carbon impact in the French market, the latest proof point in O-I's pursuit of its approved SBTi (Science Based Targets Initiative) target to reduce GHG (greenhouse gas) emissions 25% by 2030. dollar, (18) changes in tax laws or U.S.
The Investor Alliance for Human Rights (IAHR), together with Anti-Slavery International and Sheffield Hallam University’s Helena Kennedy Centre for International Justice, has released investor guidance on how to address Uyghur-linked human rights risks in the green technology supplychain.
In 2020, Microsoft pledged to become carbon negative by 2030 , remove historic carbon emissions by 2050, and invest $1B in a climate innovation fund. In early 2020, CEMEX committed to reaching net-zero by 2050 and increased their 2030 emissions reduction target from 30% to 35%.
The company is targeting 40 percent renewable electricity use by 2030 and to reduce total energy consumption by 9 percent globally. O-I’s sustainability roadmap has set challenging, but attainable goals for energy efficiency technology advancement, along with the sourcing of renewable electricity and emissions reduction.
LAPFF focused on changes to executive pay and discussed Persimmon’s commitment to ensure that all new homes are net-zero by 2030. Disputing divestment. We cannot just divest from fossil fuels; we need a fair and just transition to the net zero economy.”. That is why governance is so important.
In the year to October 2022, more than 85 million tons of carbon capture capacity were announced, leading to a 44% hike in the forecast for installed capacity by 2030. By the end of 2023, the cumulative CCUS capacity expected by 2030 could be almost 420 million tons, a 50% increase. The divestment movement will wane.
Most of these cases can be taught within multiple business disciplines such as leadership, strategic management, supplychains and marketing, to name a few — making them useful tools not only for emerging entrepreneurs themselves, but for the educators who are training them. million tons of batteries will need disposal.
For financial institutions such as banks, insurance companies and investment managers, scope 3 emissions from supplychains and lending/investment portfolios are often more complex than for other industries. They can also divest from high-emitting industries such as thermal coal production.
We’re five years on from signing [the act] into law, and we have five years now to meet our 2030 goal of 68% of emissions reduction,” he said. However, the bigger challenge for the UK government is that it’s not on track beyond 2030.” It would also create supplychains that can support the wider economy.
Over the past decade, many asset owners have made divestments out of fossil fuels. In fact, the total value of the institutions divesting is estimated to be US$40.5 trillion, according to data provided by the Global Fossil Fuel Divestment Commitments Database.
Immediately and gradually – The IMF’s latest World Economic Outlook calculated that keeping on track to meet the goals of the Paris Agreement by 2030 would cost between 0.15-0.25% Divestment from Russian investments was a complex affair and an incomplete one. 0.25% of GDP growth and an additional 0.1-0.4% of inflation a year. “If
Ceres CEO Mindy Lubber opened her testimony asserting: “Climate change, water scarcity and pollution, and nature loss … pose material financial risks to investment portfolios, business operations and supplychains, thus to the long-term stability of our markets and the economy.”
“Any decision made to disengage or divest must be done in a responsible fashion, including scrutinising for any unintended human rights consequences.” . The biggest reverberations are going to be felt along corporate supplychains, as they look to untangle themselves from Russian suppliers,” he said. “The
Disorderly transition and portfolio risks loom large. 2025 will cause a fundamental re-appraisal For investors with 2030 and net zero commitments, the Stocktake / Ratchet cycle will show that success from significant company and policy engagement since 2015 has been difficult to spot.
Recent findings from the Forest Declaration Assessment show a concerning trend: global efforts to reduce deforestation are falling significantly short of 2030 targets, trailing by 21% last year. Divestment, while a contentious strategy, should be considered a last resort.
Nature is at the base of every supplychain. trillion across the region by 2030. For now, business understanding and disclosure of nature risk – both from investee firms’ direct operations and along their supplychains – is patchy at best, with firms in the APAC region lagging global peers.
Will Martindale, Group Head of Sustainability at fiduciary manager and pension provider Cardano , has been on the front-line helping pension funds to implement their disclosure requirements and says this has been made more challenging by a lack of data from investee companies, particularly on Scope 3 (supplychain) emissions.
The European Parliament this week backed a robust version of the Corporate Sustainability Due Diligence Directive (CSDDD), which includes the finance sector in rules to hold firms accountable for human rights and environmental harms along their supplychains.
This compares to a second quarter 2021 Net Loss of $486 million and non-GAAP Operating Earnings of $47 million, which included results of the divested fossil and solar assets. Carbon-Free, Infrastructure & Other (CFIO) reported a Net Loss of $174 million ($0.35 per share). changes in tax laws and regulations.
The Canada Pension Plan Investment Board (CPP Investments) has committed to making its entire portfolio net zero by 2050 by increasing investment in green and transition assets to at least C$130 billion (US$96 billion) by 2030 and building on its decarbonisation investment approach.
C temperature rise by the end of the century, suggesting a need for urgent system-wide transformation to deliver the enormous cuts needed to limit greenhouse gas emissions by 2030. That does not mean divesting to ensure the portfolio looks good in the quarterly report. Sustainability also needs to extend to the supplychain. “As
Angelini was instrumental in setting two signature goals for 2030. As of the latest count, 102 corporations have committed to the 2030 (or better) goal — including Ikea, Genentech and Lyft — and more than 170,000 EVs have been deployed. The first is for 100 percent of products to be designed with the circular economy in mind.
These goals include net-zero GHG emissions economywide by 2045 and net-negative emissions thereafter, along with a 40% reduction in statewide GHG emissions from 1990 levels by 2030 and 80% by 2050. This commitment covers the power SCE delivers to customers and Edison International’s enterprisewide operations, including our supplychain.
The low cost of fast fashion in general has long been linked to potential labour exploitation, and the precariousness of outsourcing fashion production to the cheapest supplier within a global supplychain was evident during the pandemic. They will also have to develop plans to reduce their social and environmental impact.
As is their wont, many companies used the occasion to proclaim updated commitments — the buzzword du la semaine was "net-zero" with Walmart declaring a zero-emissions target by 2040 along with a big clean fleet promise and a pledge to "protect, manage or restore" at least 50 million acres of land and 1 million square miles of ocean by 2030.
On Earth Day, President Biden pledged to reduce global warming emissions by 50 percent by 2030 compared to 2005 levels. The letter also seeks a net-zero electricity grid by 2035, a 50 percent target for electric vehicle sales by 2030, and a renewed commitment to international climate finance. Pennsylvania made the U.S.’s
For sustainable tech to be possible, funders, including investors, philanthropists, and foundations, must develop a two-pronged approach of intentional investments in those leading justice-centered approaches to technological and economic transitions and informed divestments from extractive and fossil-fuel-dependent systems and enterprises.
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