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Consider this: In April, Royal Dutch Shell, one of the largest companies in the world, announced its intent to become a net-zerocarbon company by 2050. No doubt Shell is counting on some miracle like carbon capture to preserve its adherence to a century-old business model of selling oil. Is that possible?
By pledging to grow its portfolio of oil and gas assets, CPPIB is making an alarming bet on the world failing to limit global heating to safe levels, putting the CPP at risk from an accelerating energy transition and our retirement security at risk from catastrophic climatechange. This “consensus” is imaginary.
The leading proposed solution, carbon capture utilization and storage (CCUS), has not measured up to hype , with oil companies unwilling to invest profits into this expensive technology that increases production costs. There’s no taking the carbon out of the barrel.
From companies looking to select cleaner manufacturing suppliers, to investors seeking to divest from polluting industries, to consumers making choices about which businesses to patronize, one thing is clear: a reliable way to measure where emissions are coming from is necessary," they wrote. ClimateChange. Innovation.
trillion under management, has jumped on the net-zero-emissions bandwagon , it is only a matter of time before it becomes the standard, placing a 100% sustainable and zero-carbon economy within our grasp. To date, financial firms have pledged that more than US$130 trillion of assets will be net-zero by 2050.
DESCRIPTION: Last year marked a global shift in corporations adopting low-carbon and net-zero pledges as experts at the United Nations ClimateChange Conference , COP26, declared that the climate crisis is at a critical inflection point. C commitment and 7,126 companies have joined the Race to Zero.
In 2016, we created the Clean200 in response to investors saying, ‘If we divest fossil fuels, there is nothing to invest in.’” Steel (177) – which recently committed to being zero-carbon by 2050. through those years. And that’s the big deal, says As You Sow CEO Andrew Behar, who co-authored the 2024 study. “In
Regulators recently published results of their analyses of UK corporates’ 2021 filings on climate risks and governance. Reporting in line with the TCFD framework, which measures financial risk linked to climatechange, ought not to be the full story for pension schemes, added Martindale. Ignoring a major risk”.
The biggest national-level news of the week came out of the United Nations General Assembly, where Chinese President Xi Jinping announced that the country aims to achieve carbon neutrality before 2060. Given the country’s status as the world’s largest emitter, the development is essential for progress against climatechange. .
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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