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Oil and gas companies are betting their future on LNG projects, but every single one of their planned projects puts the future of the Parisagreement in danger," Reclaim Finance campaigner Justine Duclos-Gonda said in a statement. Many large banks have pledged to reach net-zero emissions, yet they are still financing the LNG boom.
To achieve net-zero, let’s agree on one definition of success. Reaching the 2015 ParisAgreement goals requires bold action from all sectors and levels of our society. But any chief sustainability officer will fall short of their responsibility if they simply cite net-zero as a strategic goal. Peter Boyd.
Is 'netzero' much ado about nothing? Netzero is the near-universal goal of nations, states, provinces, cities, companies, universities and others. The five questions below represent just a sampling of issues surrounding what netzero means — and doesn’t. First, what is netzero? Joel Makower.
HSBC is latest bank to pledge net-zero financed emissions by mid-century. HSBC has become the latest bank to commit to achieving net-zero financed emissions, announcing Monday that it intends to align its portfolio of investments and debt financing with global climate targets by mid-century. Cecilia Keating.
Strategy firm BCG pledges net-zero impact, eyes ‘carbon positive’ future. billion company’s new commitment to achieve net-zero status for its own operations by the end of this decade. . billion company’s new commitment to achieve net-zero status for its own operations by the end of this decade. .
Despite net-zero pledges, banks used $750 billion to finance fossil fuels in 2020. Net-zero commitments may have ricocheted across banking sector over the last 18 months, but big banks' attestations of climate concern did not stop many from expanding financing for the world's top fossil fuel firms during the pandemic year.
Infinium, spun out of another company called Greyrock Energy , says because the biofuel (dubbed an "electrofuel") is made with clean energy and CO2, it's a "net-zero carbon" fuel. Featured in featured block (1 article with image touted on the front page or elsewhere). Sponsored Article. Transportation & Mobility.
The financial services firm recently completed the purchase of the first tranche of reef credits and plans to continue buying them as part of its net-zero commitment. Featured in featured block (1 article with image touted on the front page or elsewhere). Sponsored Article. Pollution Prevention. Regenerative Agriculture.
Airlines have faced "flygskam" — or flight shame — which has seen some travelers shun air travel, heightening pressure for the sector to demonstrate that it can develop a flight path to net-zero emissions. As with all of the PR firms contacted by BusinessGreen for this article, WPP declined to comment.
Campaigners maintain that stronger ambition is required given that the 2030 target the IMO is working towards — a 40 percent reduction in carbon-intensity emissions — is not aligned with the ParisAgreement in the first place. A statement provided by Shell welcomed signs that some form of new regulatory regime was on the way.
“If the Competition Bureau’s inquiry confirms that RBC’s statements are misleading and false, RBC could be forced to stop advertising itself as supporting the principles of the ParisAgreement and aiming to achieve net-zero emissions targets by 2050.”. This article is republished from The Energy Mix.
The OECD report analysed how the climate alignment of finance globally is assessed, the current degree of alignment, and how financial sector and real economy policies and actions influence alignment with Article 2.1c By 2023, 77 countries had adopted climate-related transparency and information policies, like environmental taxonomies.
DWS, one of the largest asset managers in Europe, announced the launch of three new climate-focused ETFs for its exchange-traded funds business Xtrackers, expanding its suite of ParisAgreement-focused product series with funds providing exposure to US, European and Japanese equity markets.
After all, through their product offerings, lending activities and client engagement, financial institutions can play a key role in influencing the transformation necessary for a net-zero emissions economy. What we have given the market is an ambition that our total financing by 2050 will be netzero. Pull Quote.
So failure to address one issue is just going to exacerbate the risk of another," said Kristen Lang, senior director of the Ceres Company Network and lead author of the nonprofit’s latest set of suggested strategic, operational and policy change actions necessary for the corporate world to meet the warming-mitigation goals of the ParisAgreement.
How about June, when Unilever committed to zeroing-out emissions from all its products by 2039 ? billion over the next five years as it moves toward a 2050 net-zero target? This article was adapted from the GreenBiz Food Weekly newsletter. Sponsored Article. Or back in March at Horizon Organic, a U.S.
are facing growing pressure to clean up their lobbying activity, with a host of institutional investors this week issuing an urgent call to 47 of the largest greenhouse gas emitters to disclose how their corporate advocacy aligns with the most ambitious climate goals of the ParisAgreement. Carbon intensive companies in the U.S.
degrees Celsius goal of the ParisAgreement; to develop and implement a plan to reduce “the carbon footprint and the environmental impact” of any products or services provided to Salesforce; and to publicly disclose their Scope 1, 2 and 3 emissions. Sponsored Article. Supply Chain. Leadership. Featured Column. Two Steps Forward.
Biden already has rejoined the ParisAgreement, committed to advocating for environmental justice and rolled out a government-wide focus on racial justice. This includes committing to net-zero climate targets and changing their business models, products and services to accelerate the transition to a clean energy economy.
NDCs are national climate action plans and targets, ushered in under the 2015 ParisAgreement. Investable NDCs have the potential to send important signals to global markets and facilitate greater flows of capital into the economic transition to netzero and climate resilience. Will NDCs send a clearer investment signal?
In this Q&A, EY’s Ben Taylor highlights the developments most likely to shape and accelerate the netzero transition, as well as the climate-related investment strategies of asset owners and managers. ESG Investor: In what way did COP29 improve the likelihood of delivery of comprehensive, investible and Paris-compliant NDCs?
For the past few months, there have been countless media articles breathlessly anticipating a far-right breakthrough in last week’s European parliamentary elections and pondering the demise of Western democracy and global climate policy. and China are the more appealing destinations for net-zero industries.”
It’s the pontiff’s first major declaration on climate and the environment since the ParisAgreement was negotiated in 2015, although he has frequently opined less formally on the urgency of climate action. This article originally appeared in Grist at [link].
COP28 may have not delivered all it promised, but investors now have a clearer idea of how the path to netzero will impact their portfolios. In this summary article, ESG Investor covers some of the areas with the biggest implications for asset owners. The official verdict was clear. C of climate change by 2100.
Adding to the regulatory challenge, the Science Based Targets initiative (SBTi) will review its Corporate NetZero Standard this year. This will be ISO’s first international standard providing requirements for the netzero transition, developed through collaboration with thousands of experts across more than 170 countries.
This article is sponsored by Tetra Pak. The race to netzero is on. Companies can drive collaborative actions towards preserving nature and reducing climate impact. SOURCE: Tetra Pak. DESCRIPTION: By Gilles Tisserand. Without immediate action and emissions reductions across all sectors, limiting global warming to 1.5
This is the third in a three-part series exploring how Article 6 of the ParisAgreement can spur the clean energy transition. The new market-based instruments approved by Article 6 encourage international carbon trading, long seen as the likeliest way to incentivize global climate action.
bank to commit to net-zero emissions generated from its financing activities by 2050. . Signatories agree to implement decarbonization strategies in line with the ParisAgreement. This article is adapted from GreenBiz's newsletter Energy Weekly, running Thursdays. Zero Emissions. Sponsored Article.
COP, which stands for Conference of Parties, is the series of formal meetings, where governments assess global efforts to advance the ParisAgreement and the Convention. Financing for Net-Zero (or How to Fund the Trilemma?) The bill for achieving netzero will total into the trillions of dollars.
The number of companies proclaiming their intent to go net-zero by 2050 has expanded exponentially in the past 12 months, but the ones short-cutting that commitment by a decade are a rarer breed. How do we end up at net-zero? Featured in featured block (1 article with image touted on the front page or elsewhere).
Similarly, Accenture has found – as exemplified by assessing the 1,000+ largest listed European companies – that the vast majority are not on track to hit their netzero climate goals. Reaching netzero. Still however, there is no standardisation on how to evaluate and validate forthcoming targets.
Looking at Cooperative Approaches as a Market-Based Path Toward NetZero. DESCRIPTION: Tetra Tech’s Rodrigo Chaparro, senior climate advisor, looks at three Cooperative Approaches as a market-based path toward netzero in advance of the 2022 United Nations Climate Change Conference (COP27). SOURCE: Tetra Tech.
When global leaders gathered at COP26 last year, governments pledged ambitious 2030 emissions reduction targets to achieve netzero by 2050. An ideological shift demanded that addressing the impact of climate change be a holistic global effort across both the public and private sectors as codified by Article 6 of the agreement.
While consumer action is helpful, climate experts say the actions of businesses are far more important in reducing carbon emissions to meet the ambitious targets set by the ParisAgreement in 2016 (45% reduction by 2030 from 2010 levels and netzero by 2050). Securities and Exchange Commission.
The document also holds out the possibility of subsidies for carbon trading deals under Article 6 of the Parisagreement, and for Indigenous participation in fossil fuel projects. I think we’ve got to be very careful about the LNG argument,” he told the Globe and Mail.
The COP28 decision text, released Wednesday morning, included language about “transitioning away from fossil fuels in energy systems” and “reducing both consumption and production of fossil fuels in a just, orderly and equitable manner so as to achieve netzero by, or before, or around 2050 in keeping with the science”.The
How to Set Business Targets That Help Address Climate Change (Photo by Andreas Gücklhorn on Unsplash ) This article by Matthew Lynch , Rob Klassen , and Chelsea Hicks-Webster is part of “ The Basics ” series by the Network for Business Sustainability (NBS) that provides essential knowledge about core business sustainability topics.
Brighton and Hove appears to be the UK city closest to becoming netzero, according to a recent analysis 1 of emissions per capita from alldayPA , a UK call-answering customer services company. Currently, the city’s CO2 levels are below 3.0t (2.8t), which is in line with the UN’s netzero sitemap.
The fund also failed to require its owned companies to publish science-based net-zero targets with plans to achieve them, encourage those companies to reduce fossil fuel production, or to explain how it “escalates its engagement” with companies that don’t align their practices with the demands of the climate crisis.
There has been a shift recently: more and more countries are working on Article 6 of the ParisAgreement, specifically on making sure that they have the necessary plans, capabilities, and instruments in place to attract the potential investments that market-based mechanisms under Article 6 can provide.
Indices that are labelled as Paris-aligned Benchmarks (PABs) under EU rules must meet criteria for asset selection that results in the index aligning with the long-term climate goals of the ParisAgreement.
Net-zero emissions companies is one of the fastest-growing business trends. According to scientists achieving net-zero before 2050 is critical to keeping us safe from the catastrophic consequences of climate change. Still, many organizations struggle to make their first steps to become Net-Zero companies.
Last year, Ecolab set a goal for net-zero carbon emissions by 2050, getting halfway there by 2030. The company’s "Commitment to Life" vision for 2030 includes net-zero GHG emissions by 2030, and raising by 7.4 In 2019, Gutierrez issued a new goal of net-zero emissions by 2050, expecting to reach it halfway by 2025.
Only urgent, short-term actions can deliver the temperature targets fixed in the ParisAgreement. For Mastercard, playing a role in driving the wider decoupling of emissions and growth is a vital part of our responsibility as a business and as important to us as delivering on our own net-zero targets.
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