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If we have any chance of heeding the Intergovernmental Panel on Climate Change’s repeated warnings and meaningfully reducing global CO2 emissions by 2030 , the business community will have to get serious about the task at hand. . Vanessa Chris is a content strategist and founder of h2h content. .
While linking corporate debt to sustainability targets sounds like a great way of incentivizing companies to make environmental, social and governance (ESG) improvements, a lack of standardized rules has quickly opened the door to greenwashing, with some companies using the funds to continue business as usual with little ESG impact. .
Where once there were claims about the companies working together to reduce their absolute emissions by 22 million tons (Mt) annually by 2030, and to net-zero by 2050, there is now a statement that Pathways is “focused on advancing environmental innovation and pursuing emissions efficiencies from our oil sands operations”.
Origin Energy's first Climate Action Transition Plan has some definite positives, but is coming under fire for greenwashing gas out of its 2030 targets. The post Origin looks to renewables and storage for climate plan, but greenwashes gas appeared first on RenewEconomy.
A coalition of environmental groups is calling on the federal government to regulate climate commitments made by banks and other financial institutions to avoid greenwashing and accelerate change. . The post Advocates urge regulation of banks’ climate commitments to avoid greenwashing appeared first on Corporate Knights.
We can't afford to give free kicks to heavy emitters, especially when Australia needs all the help it can get to reach 82% renewables by 2030. The post We must not let big emitters greenwash their emissions with renewables free kick appeared first on RenewEconomy.
That pre-emptive action is proof of that which activists in Canada say has long been in plain sight: greenwashing is rampant in the fourth-largest petroleum-producing country in the world – but will new legislative ammo effectively tackle it? That includes the kind of proof that companies will have to give to the public about their claims.
Theme: Navigating the energy transition Register today Thursday 14 November 2024 11:30am – 1:00pm (GMT+4) | Greenwashing: Are your green claims robust enough to withstand scrutiny and avoid greenwashing accusations? With sustainability and transparency at the forefront of the business landscape, the issue of greenwashing has emerged.
Published yesterday, the NESO’s Clean Power 2030 report identified two primary clean power pathways to achieve the UK government’s goal of net zero electricity generation by 2030. One requires 50 gigawatts (GW) of offshore wind by 2030, but no new dispatchable power from hydrogen or CCUS.
IBM said it would reach that milestone in 2030. Such commitments often are coupled with an interim goal of cutting emissions in half by, say, 2030. Is net zero greenwash? The term is used to greenwash business-as-usual or even business-more-than-usual," it continued. "At The bar continues to move. Some think so.
Earlier this month, Environmental Defence launched its “Canada’s climate villains” campaign , using graphic-novelesque illustrations and monikers like “Toxic Traitor” and “Ruthless Greenwasher.
In 2021, these investors accounted for 52 per cent of global assets under management in 2021 a figure expected to jump to nearly 61 per cent by 2030. The greenwashing challenge Our findings highlight both the potential and pitfalls of sustainable finance. Investors with a high-risk tolerance were more likely to invest in green bonds.
The investigation comes as EU regulators and lawmakers have taken a series of actions aimed at addressing greenwashing and protecting consumers from misleading sustainability claims. In the UK , the Competition and Markets Authority (CMA) has focused most of its greenwashing efforts to date on the fashion sector.
A legal action filed by a group of environmental organizations with greenwashing claims against energy giant TotalEnergies will be permitted to proceed in the Paris judicial court, a pre-trial judge ruled today, clearing a major hurdle for the lawsuit. It is therefore wrong to claim that our strategy is “greenwashing”.”
Climate and environmental sustainability advocacy group Global Witness announced today that it has submitted a complaint to the SEC, accusing energy giant Shell of greenwashing by misleading investors about the amount of investment it is directing towards renewable energy.
Adopted by the EU in November 2023 , and taking effect in December 2024, the EuGB regulation was launched by the European Commission to establish a gold standard for green bonds, in order to combat greenwashing and advance the sustainable finance market in the EU.
This week in ESG news: Canada to require oil & gas industry to slash emissions; California’s climate reporting law survives legal challenge; Mizuho invests in climate solutions provider Pollination; new clean energy deals signed by H&M, Meta, Saint-Gobain; incoming EU finance Commissioner calls for sustainable investment labels, reduced SFDR (..)
Back then, some members of the SIO, the precursor to today’s Responsible Investment Association (RIA), felt the lack of a sustainability label placed the industry at risk of greenwashing. The fear 20 years ago that a green investment label could itself enable greenwashing is now playing out two decades later in Europe.
DESCRIPTION: As the number of consumers seeking eco-friendly products rises each year, The Chemours Company has sought to embed sustainability throughout its organization, developing an assessment methodology called EVOLVE 2030 to set and carry out its goals. Continue reading here. KEYWORDS: NYSE:CC, The Chemours Company.
That is why we have set externally validated (SBTi) 2030 climate targets, and a goal to be Net Zero by 2050, and are taking action.” We have achieved 60% absolute reduction of greenhouse emissions in our owned and operated facilities but recognize most of the impact comes from emissions within the broader supply chain.
It also proposed to tackle greenwashing by strengthening competition law. If done well and implemented quickly, these policy promises would make the financial sector more sustainable and help Canada reach its 2030 emission-reduction commitments. What is needed now?
In the consultation response, Tulip Siddiq, Economic Secretary to the Treasury & City Minister, said: “With the global ESG market predicted to surpass $40 trillion by 2030, investors and markets are making increasing use of ESG ratings to inform investment decisions and capital allocation.
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. In statement, CAPP rejected the greenwashing charge.
That means it is tapping the earth’s heat, rather than conventional gas-fired boilers, to warm and cool the building’s interior spaces. per year but can apply for more if they’ve renovated the building significantly).
We will cut our own emissions by 30% in 2030 and eliminate Amazon deforestation from our supply chain within five years.” “JBS JBS USA’s greenwashing exploits the pocketbooks of everyday Americans and the promise of a healthy planet for future generations. Bacon, chicken wings, and steak with net zero emissions. It’s possible.” “We
Most companies support a range of sustainability projects (reducing plastic bag use, promoting local food) and make a variety of claims using buzzwords like “natural” or “green,” but without credible, internationally recognized, third-party standards and verification, the threat of greenwashing looms large. .
Apple to Track Suppliers’ Emissions, Targeting a Decarbonized Supply Chain by 2030. UK Regulator Targets Greenwashing with New Sustainable Investment Labels and Disclosure Rules. EU Proposes Rules Requiring All New Buildings to be Zero Emission by 2030. Mondelez Ramps Investment in Sustainable Cocoa Initiatives to $1 Billion.
They say they are committed to net zero, and between them, they have pledged about $2 trillion of what they call “sustainable finance” by 2030. And the Competition Bureau is already processing a complaint regarding greenwashing at RBC, which includes its sustainable finance practices.
This has included legislating a 2050 net zero target and setting a legally-binding target to reduce emissions by 43% by 2030 below 2005 levels. The report also found that greenwashing had overtaken performance concerns as the pre-eminent barrier to responsible investing.
Billion for Sustainable Food Chain Fund Infrastructure Tech Startup Neara Raises $24 Million to Help Utilities Deploy Renewable Energy, Reduce Climate Risk InterContinental Energy Raises $115 Million to Develop Green Hydrogen Projects
The European Union, China, the United Kingdom and about 20 other countries are developing such taxonomies as a way of discouraging greenwashing and channelling investment to the climate transition. The EU’s taxonomy has been particularly controversial because of its inclusion of natural gas and nuclear as “green investments.”
Market share of ESG assets is expected to remain steady at a quarter of the global market, which is expected to reach $140 trillion by 2030, according to BI’s projections. Unclear rules A third of the funds analysed by Global Witness were domiciled in the US, where ESG fund labelling is a source of debate.
The ruling comes as financial institutions and other companies increasingly face regulatory scrutiny over greenwashing concerns. Earlier this year, the CEO of Deutsche Bank’s investment arm DWS resigned after police raided the firms’ Frankfurt offices as part of an investigation into greenwashing allegations.
This week in ESG news: SEC releases long-awaited climate disclosure rules… and Republicans file lawsuit to block them; Unilever sets new value chain emissions reduction goals; EU lawmakers agree to laws targeting 100% recyclable packaging and banning products made with forced labor; Invesco joins growing list of investors exiting Climate Action 100+; (..)
In addition to the new green bond initiative, the government outlined a number of commitments aimed at advancing the development of a sustainable finance market, including backing the development of a sustainable finance taxonomy and efforts to tackle greenwashing.
See below for the highlights of the past week, and get all your ESG news at ESG Today: Sustainability Goals, Initiatives and Achievements Mercedes-Benz Pledges to Reduce Emissions from Production by 80% by 2030 United Invests in Climate Tech Provider Svante to Turn Captured Carbon into Jet Fuel Nestlé Invests in Texas Solar Project to Power U.S.
In some instances, they may amount to so-called ‘greenwashing’ with consumers effectively being deluded into thinking their ‘energy efficient’ home represents a better outcome for the environment.”. By 2030, they’ll no longer be optional. This wasn’t the first time that energy efficiency experts had challenged the EPC rating system.
The European Council today announced the adoption of two pieces of legislation today, including a directive to nearly double the share of renewable energy consumption in the EU by 2030, and a law aimed at decarbonizing the aviation sector by accelerating the adoption of sustainable aviation fuel (SAF).
Google committed to becoming powered by clean energy — in real time — by 2030. . Because yahoos such as me write critical columns about how they’re greenwashing or failing to do enough. Walmart is working hard to let the world know about its new carbon-neutrality commitment (including taking over all ads in my Podcast feed).
The reaction of major Canadian oil and gas companies to new federal anti-greenwashing rules has been telling. Fearing loss of investment, Canada’s major oil and gas companies declared that they too are committed to net-zero. But, any rudimentary analysis shows that simply isn’t true.
This week in ESG news: EU launches green industrial plan to counter US Inflation Reduction Act; California lawmakers propose rule requiring full value chain emissions disclosure from companies; survey finds large majority of companies boosting spend this year on sustainability initiatives despite headwinds; Amazon sets corporate renewable energy record; (..)
She says the inclusion of oil and gas projects in a transition framework would amount to greenwashing for an unsustainable source of energy. If it is transitional, it won’t get us where we need to be but will significantly contribute to getting us closer,” she said.
See below for the highlights of the past week, and get all your ESG news at ESG Today: Sustainability Goals, Initiatives and Achievements Google Signs 435 MW Solar PPA to Power U.S. Operations Rio Tinto Acquires Arcadium Lithium for $6.7 Solar PV Manufacturing Capacity Green Data Center Solutions Provider Submer Raises $55.5
This week in ESG news: U.S. boards lose focus on ESG, say it’s not the same as sustainability; Microsoft to restart Three-Mile Island nuclear plant to decarbonize data centers; IFRS launches guide for voluntary application of ISSB sustainability reporting standards; Brookfield raises $2.4 Billion Air France-KLM Signs Deal for 1.9
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