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But 40% of the reductions came from divesting, or selling off, dirty assets, which from the atmosphere’s perspective is akin to rearranging deck chairs on the Titanic. Divestments (8%). 0.124 Retirements and divestments (100%). Divestments (25%). 4 BP PLC Oil & Gas 35,600,000 32,600,000 -0.48 -0.583 Divestments (87%).
For example, Sims finally divested itself of part of its municipal recycling business – a large blue-box operation in New York City. In 2022, the firm sold much of its stake to Closed Loop Partners, a New York–based circular economy fund, and then divested the rest last year.
“If we took out that revenue stream, the leg of that table would sort of collapse,” Errett says, “because factory farms operate on razor-thin margins as it is, and if they can’t sell all the offcuts or B-meat into pet food, it becomes biohazardous waste, and they would have to pay to have it removed.”
Suncor had already divested from solar and wind assets last year, reportedly to focus on hydrogen and renewable fuels. The former Imperial Oil CEO came out of retirement in May only to steer the company “ back to being a good old-fashioned oil company,” as Western Standard noted.
This week in ESG news: Microsoft launches new multi-framework ESG reporting solution; Goldman Sachs exits Climate Action 100+ as political pressure builds; World Bank issues bond with interest linked to reforestation-based carbon removals; GM signs its largest-yet renewable energy deal; Texas expands its divestment list of financial companies “boycotting” (..)
Outdoor clothing giant Patagonia has been a leader in sustainable fashion, using 100% recycled materials for packaging and catalogues and partnering last year with Eastman, an American chemical company, to create sustainable fibers from unusable pre- and post-consumer textile waste.
Indeed, nearly half (49%) of investors globally would divest from companies that are not taking sufficient action on environmental, social, and governance (ESG) issues. Reduce Waste. Market and investor pressure, business impact, and customer pressure are shaping the demand for sustainable business practices. Embrace Circularity.
It is more urgent than ever to shift from linear take-make-waste models to a circular economy, where waste and pollution are designed out, products and materials are kept in use for longer, and natural systems can regenerate. Our consumption of natural resources has devastating effects for humans, wildlife, and the planet.
In 2016, we created the Clean200 in response to investors saying, ‘If we divest fossil fuels, there is nothing to invest in.’” Although they underperformed the MSCI ACWI broad market index, which grew 114.4%, the Clean200 trounced the key index of global fossil fuel companies (the MSCI ACWI/Energy Index), which gained only 64.5%
In 2016, we created the Clean200 in response to investors saying, If we divest fossil fuels, there is nothing to invest in, says Andrew Behar, CEO of As You Sow and co-author of the Carbon Clean 200 report that accompanies the ranking. They include sustainably certified tech hardware, electric vehicles and electric rail equipment.
This January marked the three-year anniversary of the Brumadinho Dam disaster in which 272 people lost their lives and millions of tonnes of toxic waste flooded local villages, becoming Brazil’s worst ever industrial disaster. Disputing divestment. And McMurdo’s caution about divestment is not limited to the energy sectors.
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. Their housing, by and large, is not the same.
Understanding emission sources in your portfolio For some organisations, scope 3 emissions may be easy to calculate, understand and reduce, such as those deriving from business flights and waste. They can also divest from high-emitting industries such as thermal coal production.
Our Environmental Sustainability Specialization , which was launched in April, trains Partners in how customers can participate in the Circular Economy, migrate to cloud-enabled solutions, and generally drive sustainable outcomes, like reducing energy use and waste. Our programs are a perfect entry point to reduce waste.
The fund was previously under pressure to divest from carbon-intensive oil and gas companies but, like other asset owners, CalSTRS is choosing to engage, with divestment serving as a last resort. . If engagement and voting fails to promote positive change amongst investee companies, NBIM has demonstrated its willingness to divest.
From its net-zero by 2030 ambition and the development of science-based targets to its energy efficiency programs to transportation and waste minimization goals, Powering Progress embodies PSEG’s aspirations for today and ensures it will be here to support communities into the future.
Waste generated in operations. In the statement announcing the plan , Vodafone Group CEO Nick Read said, “We are committed to reduce our carbon footprint through improved energy efficiency, renewable energy supply, reducing our network waste and new environmental criteria when we select suppliers. Purchased goods and services.
By divesting its 20% stake in Rosneft, BP also disposed of around a third of its oil supplies. As divestment sceptics know, there’s a big difference between reducing portfolio and real-world CO2 emissions.
But this is not all as there are many solutions to when the wind doesn’t blow or the sun doesn’t shine: Sustainable biogas from a variety of sources, Waste-to-energy plants as seen in China, Batteries (from ion lithium to flow cells…). Ending fossil fuels subsidies and divesting away from coal will put the final nails in the coffin.
At a time when we should be committing to more climate action, we simply do not have any more time to waste promoting the future production of fossil fuels, which is the ultimate cause of the environmental crisis that we are facing.” “I cannot vote for the [Offshore Petroleum Licensing] bill next week.
For the first time, the study by non-profit Planet Tracker goes beyond tracking fossil fuel clients that the world's ad heavyweights work for, but also look at advertisers that have a high waste and water footprint.
Outdoor clothing giant Patagonia has been a leader in sustainable fashion, using 100% recycled materials for packaging and catalogues and partnering last year with Eastman, an American chemical company, to create sustainable fibers from unusable pre- and post-consumer textile waste.
The University of Michigan Endowment Fund: Divesting from Fossil Fuels (Published 9.9.2020) In September 2019, there were climate change strikes at the University of Michigan.
Biomass takes many forms and is typically defined as any renewable organic waste from plants and animals that can be replenished and regrown. Gathered waste is then either used directly as biofuels or converted into other forms of bioenergy, generating electricity, through combustion. . Waste not, want not .
It has completely divested the fast fashion sector over its poor record on sustainability and the payment of decent wages but maintains engagement through PLWF. “We speak through the platform to several supply chain actors,” says Schmidt.
For Sydstrand, the energy transition is too complex and multifaceted to simply divest its holdings in the oil and gas sector, but acknowledges that a fundamental question remains: What do we do with these assets that are likely to become stranded?
As more and more institutions and people are divesting from fossil fuels globally, climate responsible finance is booming. Water and Waste make up 14 and six percent, respectively. Part of this revolution is the meteoritic growth of green bonds, which were started in 2007 by the World Bank and the European Investment Bank.
“One of the preferred methods for improving the sustainability of a building is to replace boilers with heat pumps – but, if the building isn’t renovated at the same time and energy waste isn’t accounted for, then it still won’t be energy efficient,” Hunziker pointed out. Or do they stick with the investment and bring it up to speed?
Pantys’ products cut down on plastic waste — one person uses up to 15,000 pads and tampons over a lifetime, most of which wind up in landfills, estimates show. Transform Program Leader, Fight Food Waste Co-op Research Center; Brisbane, Australia. You have to be aware of what others are doing to do your best within your own lane.".
Reducing overall energy consumption and waste is key to enabling a more sustainable future. . It confirms the material importance of divesting from fossil fuels and decarbonising real estate.” . The EU’s REPowerEU plans need to push further on promoting energy efficiency in the built environment. .
Patel argues that the expression of wish is “a complete waste of effort and time”, as asset managers “don’t have the time or capacity to consider every individual expression of wish from all trustees”. . Trustees are expected to indicate in their ISs whether their expression of wish has been followed. .
Investors are also deploying venture capital into earlier stage higher risk/return opportunities such as nature-based waste/resource recovery, and materials technology. That said, the evidence clearly shows that climate-aligned investment needs to accelerate, and that takes a supportive policy environment,” says Pitt.
These technologies reduce waste heat and increase electrification, making the furnaces more energy efficient and reducing both direct and indirect emissions. The proposed rebuilds plan to combine five cutting-edge furnace technologies on each furnace, marking the first time that all five technologies have been implemented simultaneously.
O-I Glass” or “O-I”) plans to install a waste heat recovery system at its Veauche, France operations. Heat recovered from the facility’s glassmaking furnace will feed a new internal energy distribution network and will supply up to 94 percent of the plant’s heating needs. dollar, (18) changes in tax laws or U.S.
Since the 2019 investment, waste heat from glass packaging production has been recovered to be used in domestic homes in the local community. An average of about 90% of its raw material consists of scrap and locally recycled glass (“cullet”). dollar, (18) changes in tax laws or U.S.
The new emissions disclosure bill was introduced as part of a package of climate-focused proposals, including a bill requiring state pension funds to divest from fossil fuel companies introduced by Senator Lena Gonzalez, and a bill requiring stronger corporate climate risk disclosure introduced by Senator Henry Stern.
Environmental impact is relatively easy to measure: carbon emissions, deforestation, waste management, and water usage are all tangible factors lending themselves to quantitative assessment. ESHG-minded Investors can leverage their financial power by divesting from companies that aren’t doing healthy business.
which recently saw 19 Attorneys General sign a letter accusing BlackRock of acting with “mixed motives” in its pursuit of an anti-fossil fuel and pro-net zero agenda, and Texas Comptroller Glenn Hegar place BlackRock and several other asset managers on a list for potential divestment for allegedly boycotting energy companies.
And the mayors of 12 cities — representing 36 million residents — announced their plans to divest from fossil fuels. Formidable food purveyors forsake food waste. which calls for a 50 percent reduction in food loss and waste by the end of this decade. . The effort is part of Champions 12.3, The effort is part of Champions 12.3,
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.
This law will help America to reduce energy waste, and improve resiliency. The fossil fuels divestment movement continues to grow and as indicated in a recent report by DivestInvest, 1,500 investment institutions, responsible for $39.2 trillion in assets, have committed to divest. Plastic waste management and a circular economy.
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