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Members of Alberta’s governing United Conservative Party are debating whether to abandon existing net-zero targets at the party’s annual general meeting in Red Deer this week – a move that would further signal the province’s departure from global and national priorities for mitigating emissions.
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.
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.
Transitioning the globaleconomy to net-zero emissions may be the most Herculean task modern society has faced. To sustain a healthy society, strong economy and dignified life on earth, there is no other viable option.
Another landmark report by the Intergovernmental Panel on Climate Change provides stark warnings but stresses that rapidly putting the globaleconomy on course to net-zero emissions by 2050 could hugely reduce escalating impacts.
VANCOUVER, British Columbia, July 23, 2024 /3BL/ - DP World , a global leader in supply chain solutions, is pleased to engage as a Pilot Partner in the NetZero Supply Chain (NZSC) Initiative, a collaborative effort dedicated to advancing the decarbonization of Canada's freight-transportation supply chains.
HSBC , for example, recently pushed back its own target to achieve netzero emissions in its operations and supply chain by 20 years to 2050, and placed its interim financed emissions targets under review, all major U.S. In the report, UBS said that its assets under management with a netzero ambition reached $64.4
As a global technology company supporting the vast majority of the world’s business, SAP needs to lead from the front with our ambitions and actions. That is why SAP has committed to achieve net-zero emissions across our value chain by 2030. What Does NetZero Mean? C science-based emissions reduction target.
A third of the world’s largest public-listed companies are still yet to set an emissions reduction target, according to a new report from NetZero Tracker. The tracker, the world’s only open-source independent review in terms of quality and quantity, has assessed the 1,000th company with a netzero target.
Herweijer joined HSBC in 2021 as Group Chief Sustainability Officer and a member of the Group Executive Committee, and has overseen the development of the bank’s netzero strategy, including its portfolio decarbonization targets. Prior to joining HSBC, she served as Global Sustainability and Innovation Leader at PwC.
Such a supply gap would have broader consequences across the globaleconomy, disrupting supply chains for both energy transition and non-energy transition industries, the study says. The post Copper Supply Gaps to Challenge Net-Zero Goals, Study Predicts appeared first on Environment + Energy Leader.
Morgan Stanley has joined several of its peers in exiting the Net-Zero Banking Alliance (NZBA), a UN-backed coalition of banks dedicated to advancing globalnetzero goals through their financing activities,ESG Today has confirmed. Morgan Stanleys commitment to net-zero remains unchanged.
With more than one quarter of the globaleconomy committed to achieving net-zero emissions over the coming decades, it follows that the shipping sector will be under increased pressure from governments and private players to clean up its act. It is also working to introduce net-zero emissions ships in U.K.
At this point, the question is not whether major companies will commit to net-zero emissions, but how they plan to achieve this target. Nations that have abundant natural capital such as more hours of sunshine, or that invest in technological, human, and physical capital, will be well positioned to prosper in the net-zeroeconomy.
The company was one of the first oil majors to commit to being net-zero in 2050 and was showing signs it was open to speeding up its transition to a low-carbon future. The company is still committed to being net-zero by 2050, but observers say it’s a lot harder to see a pathway to reach such a goal without a stronger target for 2030.
Asset managers’ netzero targets depend on governments living up to their commitments, says Rebecca Mikula-Wright, CEO of AIGCC and IGCC and NZAM Chair. In the past 12 months, signatories have been taking a range of actions to implement their individual netzero commitments.
Such a supply gap would have broader consequences across the globaleconomy, disrupting supply chains for both energy transition and non-energy transition industries, the study says. The post Copper Supply Gaps to Challenge Net-Zero Goals, Study Predicts appeared first on Environment + Energy Leader.
We must look to the future by enabling an economy-wide transition to net-zero; and focus on the present by helping society to adapt and become more resilient to climate risks. This will help to mobilize the capital required to enable the net-zero transition.
Updated and more ambitious Benchmark used to assess focus companies on their netzero transition plans. C pathway set out in the International Energy Agency’s NetZero Emissions by 2050 Scenario (NZE). The Alignment Assessments further underpin this, with low evidence of companies adopting strategies in line with a 1.5°C
The Monetary Authority of Singapore (MAS), the central bank and financial regulator of Singapore, announced today the issuance of a set of consultation papers with proposed guidelines on netzero transition planning for financial institutions, including banks, insurers and asset managers.
both earned spots in the Global 100 ranking, as did telecommunications giants BCE Inc., The Corporate Knights ranking allocates spots by sectors to reflect the globaleconomy. Canadian insurers Sun Life Financial Inc. and Manulife Financial Corp. Telus Corp. and Cogeco Communications Inc. CLIMATE COMMITMENTS 1.5C
The maritime sector plays a major role in the globaleconomy, transporting a high volume of freight around the world. percent of global greenhouse gas emissions 1 and moves freight with some of the lowest carbon emissions per tonne.kilometre (t.km) 2 of any transport sector. SOURCE: WSP. DESCRIPTION: By James Peet.
Net-zero" became a key commitment during 2020 — goals that aim to eliminate, at least on paper, a company’s greenhouse gas emissions, water extractions, fossil-fuel use or deforestation activities by a given date. Given this, it was not surprising to see an uptick in corporate ambition on sustainability issues.
DP World is targeting net-zero emissions across all its operations by 2050. "We DP World exists to make the world’s trade flow better, changing what’s possible for the customers and communities we serve globally. We continue to prioritize sustainability in all our operations.
Lehman said these sectors were picked because of their outsized potential to decrease the carbon footprint of the globaleconomy, pointing to estimated emissions reductions related to transitioning to clean energy and to industrial production. The latter area might include, for example, carbon credit exchanges and marketplaces.
As the lynchpin of the globaleconomy, financial institutions not only carry a responsibility to help mitigate climate change, they are also vulnerable to its financial risks. KEYWORDS: NetZero, SEC, Climate Risk, CERES. Senior Associate, Ceres Company Network. Technical Analysis by FutureProof.
The new Deloitte Center for Sustainable Progress report, “Work toward netzero: The rise of the Green Collar workforce in a just transition,” presents a detailed look at the impacts of decarbonization, with a particular focus on the workforce., ” Click here to access the Deloitte report.
Manufacturing is going electric, too, as companies ratchet up their net-zero-carbon goals. All of these represent the surest pathways toward decarbonizing the globaleconomy, and all are ramping up to meet the commitments by governments to align with the goals of the Paris climate agreement. Surge protection.
Financial organisations thus have a major role to play in the decarbonisation of the globaleconomy, yet it is estimated that since the Paris Agreement in 2015, the 60 largest banks have instead invested $5.5 Financial institutions have a major role to play in decarbonising the economy toward netzero over the coming three decades.
HSBC Asset Management announced the launch of the first vintage of its Global Transition Infrastructure Debt strategy, aimed at providing investors with opportunities to finance infrastructure assets facilitating the transition to netzero, in sectors such as clean power, energy efficiency and clean industry.
DESCRIPTION: Two weeks ago, global business and political leaders met at the annual World Economic Forum in Davos to discuss geopolitical and environmental challenges. The need to move towards a net-zeroeconomy, regenerative businesses, and an inclusive globaleconomy were the key topics on the agenda.
Continuing such investments increases the risk of asset stranding, locks in carbon pollution and heightens the risk of catastrophic global heating outcomes. . Financial regulators in Canada and elsewhere warn that the fossil-fueled climate crisis threatens the stability of the globaleconomy and financial system.
A new report sets out a strategy for achieving netzero concrete and cement. The sector currently generates 8% of global CO2 emissions: more than aviation and shipping combined. The challenge of increasing emissions is becoming more urgent as production of concrete and cement is increasing to meet global needs.
With ESG gaining more attention and more companies committing to reaching net-zero emissions in the coming decades or otherwise pledging to do better by people and the planet, it’s inevitable that the next generation of professionals in the field will define the future of sustainable finance. Deonna Anderson. Mon, 05/10/2021 - 01:30.
Investors have made pledges towards netzero, they are taking action by engaging with companies, and are increasingly vocal and responsible stewards of the capital they manage. As 200 governments meet, COP28 offers a crucial opportunity to forge a meaningful global public-private partnership for the climate.
As the largest port operator in Canada, with a total of five terminal locations (Fraser Surrey, Nanaimo, Prince Rupert, Saint John and Vancouver), DP World is on a mission to become carbon neutral by 2040 and netzero by 2050.
It outlines how, despite greater corporate climate disclosure and commitments to greenhouse gas emissions reduction targets, netzero targets and other climate-related goals, many companies fail to adequately disclose sufficient information to investors on how they intend to achieve said ambitions.
It is also a significant carbon emitter, estimated to account for up to 10 percent of all global emissions. Like the overall globaleconomy, fashion is characterized by a vast, interconnected supply chain, with brands at one end and tiers of suppliers at the other.
The letter, signed by BlackRock Head of External Affairs Dalia Blass, was sent in response to a letter from the Attorneys General sent in August accusing BlackRock of acting with “mixed motives” in its pursuit of an anti-fossil fuel and pro-netzero agenda, indicating “rampant violations” of its fiduciary duty to the states’ pension investors.
The proposed solution for netzero targets and progress aims to improve transparency and accountability, but will need to consider existing guidance. But there is still room for hope that netzero commitments – and subsequent progress on decarbonisation – can be transparent, aligned and ambitious.
The transition to a just, resilient, net-zero future is not possible without small and medium-sized businesses, known as SMEs. They are the engine of today’s economy and the backbone of global supply chains, accounting for about 90% of all businesses and around 70% of jobs worldwide.
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