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This week in ESG news: SBTi publishes first draft of new corporate netzero standard; Canadas new PM cancels consumer carbon tax; Amazon launches service to sell carbon credits to companies; UBS pushes back netzero goals after acquiring Credit Suisse; BlackRock enhances sustainability characteristics for funds ahead of new regulations; global accounting (..)
A lack of engagement with key stakeholders and timing of greenwashing investigation among criticisms levelled at European Supervisory Authorities. Enforcement needed to tackle greenwashing Fixler said on LinkedIn that these actions “did more to tackle greenwashing than the entirety of SFDR [EU Sustainable Financial Disclosure Regulation].”
C-Aligned Climate Transition Plans Jumps 44% in a Year: CDP C-aligned climate transition plans; BNP Paribas AM requires portfolio companies to integrate climate component into executive compensation, and more.
This week in ESG news: Deloitte study finds over 70% of companies have abandoned M&A deals over ESG concerns; CDP launches new sustainability reporting platform; EU regulators call for action on greenwashing in financial sector; H&M warns against use of carbon credits in corporate netzero plans; Climeworks unveils carbon removal tech breakthrough; (..)
As the focus sharpens on how governments and businesses are turning netzero commitments into action, We Mean Business Coalition, CDP, Ceres and Environmental Defense Fund have this week released a new report to help companies accelerate their climate journey – via credible climate transition action plans (CTAPs). of warming.
This week in ESG news: Shell’s board of directors sued over climate strategy; UK regulator to test asset managers for greenwashing claims; Nordea ties top exec compensation to ESG goals; CDP says only 1 in 200 companies have credible climate plans; KPMG & Workiva partner on ESG reporting solutions; Aviva Investors to require climate transition (..)
The Science-Based Targets Initiative (SBTi) has set out four guiding principles for financial institutions (FIs) to follow to ensure their netzero strategies are consistent with action required to meet “planetary level” emissions targets, in keeping with wider sustainability and societal climate goals. Addressing greenwashing.
Will Jenkins, Director at Carbon Intelligence , which helps corporates identify, manage and mitigate carbon emissions across their operations, says the IPCC has once again laid bare the importance of achieving netzero. However, “existing legal and regulatory frameworks remain in the way” of achieving some netzero ambitions, he adds.
You man run the risk of being accused of greenwashing, only acting sustainably when it is cheap or convenient. This messaging must be corrected to avoid potential greenwashing accusations. Continued internal momentum: Carbon neutrality is often a stepping stone to a more ambitious climate action goal, such as net-zero emissions.
Transition” refers to activities that do not meet the green thresholds now but are on a pathway to netzero or contributing to netzero outcomes. The measures in sum: The package of measures is intended to improve trust and transparency in the market for sustainable investment products and minimize greenwashing.
Join thousands of companies seizing the opportunities of climate action for a netzero, 1.5°C-aligned To ensure we halve global emissions by 2030, companies need to set science-based targets , following the NetZero Corporate Standard , including five to ten-year targets for deep, rapid emissions cuts across their value chains.
Supply chain emissions are on average 11 times higher than those produced by a corporation’s own direct activity, according to CDP. Most large company carbon emissions come from their supply chains and the SMEs in them. This includes setting a clearer decarbonisation trajectory, as well as identifying carbon emission data gaps by industry.
As the fallout continues over the Science Based Targets initiative’s approach to offsets, is the netzero target-setting landscape for corporates fit for purpose? SBTi, a UK-registered charity, is a collaboration between the UN Global Compact and NGOs CDP, World Resources Institute and the WWF.
The SBTi is part of the World Resources Institute (WRI) Center for Sustainable Business and a collaboration of WRI, the Carbon Disclosure Project (CDP), the World Wildlife Fund (WWF) and the UN Global Compact. 2°C reduction target, on the way to achieving science-based netzero targets by 2050. Net-zero targets.
The transition to a netzero economy is underway but – as the UN Intergovernmental Panel on Climate Change warns – far greater efforts are needed from governments and business to limit global warming to 1.5°C C and avoid the most disastrous impacts of climate change. C trajectory. CTAPs aren’t just for the largest corporations though.
Fink urged them to try harder, not only to deal with the “1,000 unicorns” of the net-zero transition, but also to adapt to a “new world of work” heralded by the ‘ Great Resignation ’ experienced most markedly in the US and UK. US CEOs have been trying and largely failing to embrace stakeholder capitalism for some time.
Speaking at COP27 in Egypt last year, UN Secretary General António Guterres was clear: “the criteria and benchmarks for… netzero commitments have varying levels of rigor, and loopholes wide enough to drive a diesel truck through. We must have zero tolerance for netzerogreenwashing.” C within reach.
In 2022, the voice against “greenwashing” practices was clear and loud. Moreover, companies will use voluntary frameworks and surveys such as GRI, SASB, CDP, UNGC, and Ecovadis to answer requests from customers, investors and other stakeholders. Sustainability trends 2023: Net-Zero roadmaps.
A greater focus on phasing down fossil fuels and ensuring transparency around netzero goals emerged in Sharm El Sheikh, writes We Mean Business Coalition CEO María Mendiluce. Business welcomes greater transparency in reporting on netzero goals. This will require a credible netzero roadmap for the oil and gas industry.
Many companies are actively planning and implementing policies to reach netzero by 2050, for instance. While others, in addition to setting net-zero goals, are using ESG to help them create innovative products and services that are good for the environment and good for business.
Barriers to progress Companies and governments are under increasing scrutiny to deliver on their climate goals, and concerns around corporate greenwashing are rife, as our recent survey produced with Conservation International, Corporate Minds on Climate Action , highlighted.
Potential evidence of greenwashing. These differences could be evidence of greenwashing.”. She added: “You can see an increase in ambitions from companies, in their goals and targets for netzero by 2050 or sooner, but we are not seeing that reflected in financial statements. How balance sheets could change.
In a huge step forward for netzero economies and supply chains, the U.S. government – the world’s largest purchaser – proposed that all federal contractors must set science-based targets and disclose their environmental impact through CDP, following in Norway’s recent footsteps. C-aligned science-based targets.
In this respect, they echoed other sustainability reporting frameworks, such as those provided by the Global Reporting Initiative (GRI), the Carbon Disclosure Project (CDP), and the Sustainability Accounting Standards Board. Second, communication and transparency are essential, given that transitioning to netzero is not a linear process.
Since we started tracking corporate climate commitments in the Russell 1000 , Net-Zero pledges have tripled and science-based commitments have doubled, but emissions have not fallen. Will it keep temperatures under 1.5 If corporate pledges are anything to go by, unlikely. I don’t pretend there’s an easy or obvious path here.
In its recent report on environmental disclosures by firms in Southeast Asia, covering climate, water and deforestation, disclosure platform CDP found a 25% increase in forest-related disclosures, with growth rates in the region outstripping global trends.
Netzero signals of change this week include billions of euros for industrial decarbonization in Germany. NetZero Economy / Finance The European Securities and Markets Authority (ESMA) has published a new report that helps to define ‘greenwashing’ from the authority’s point of view.
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.
See below for the highlights of the past week, and get all your ESG news at ESG Today: Sustainability Goals, Initiatives and Achievements Arkema to Cut Emissions Across Value Chain by More than Half by 2030 New York Bans Fossil Fuels in New Buildings Starting 2026 TotalEnergies Sues Greenpeace Over Claims that Energy Giant Significantly Understates (..)
Built environment This month, we look at global developments around heat pump technologies: First up, the UK Department for Energy Security and Net-Zero has committed nearly £80 million in funding for four green heating projects across England. Currently, the global agrifood system accounts for 31% of greenhouse gas emissions.
This week in ESG news: HSBC ends financing of new oil & gas projects; EU agrees to a carbon tax on imports; Australia to introduce mandatory climate reporting for companies; Dow Jones Sustainability annual index changes released; Barclays sets $1 trillion sustainable finance goal; Annual CDP environmental scores released; Biden invests $3.7
It is a truth universally acknowledged that a company transitioning to netzero greenhouse gas (GHG) emissions by 2050 or sooner is in want of a detailed plan. . How do they translate on a netzero journey? UK proposals to mandate climate transition plans are part of wider scrutiny effort. .
ESG trends in 2022: Net-Zero ambition. As a result, 90% of the global economy and a third of the 2,000 largest companies have net-zero pledges. The initiative set guidelines and established a verification process to increase the credibility of corporate net-zero targets. Conclusions.
Is 'net-zero' greenwash? This year, there has been much ado about zero. It’s becoming hard to read the green media, or even the mainstream media, without seeing new net-zero commitments from companies, governments, institutions and others. Now, net-zero is the flavor of the month. Joel Makower.
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