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This disruption, like that from the pandemic, highlights some of the risks built into our highly efficient, trade-dependent food supplychain. Sustainable supplychain standards and guidance for food and agriculture companies are currently evolving, meaning that the plane is being built as it flies.
A new platform allows companies and landowners to monitor the ecosystems in their supplychains, as governments around the world increasingly consider regulations that require businesses to account for biodiversity. I think it’s the opposite of greenwashing — it’s adding integrity to the processes, and that’s what we all want.
Are you greenwashing, wishing or walking? Some boards approve, some feel comfortable doing so and are hoping for the best; others are afraid to be called out on greenwashing but approve them anyway, because "everyone else" are setting goals. Supplychains are, and will likely be, more disrupted "than normal." Pull Quote.
The demand for sustainable and transparent supplychains is at an all-time high, but multiple recent studies have shown that nearly three-quarters of manufacturers rate themselves as being at the beginning or foundational stages of supplychain sustainability program maturity. The market is cracking down on greenwashing.
rePurpose says it “collects chain-of-custody documentation from all stakeholders involved in the supplychain. Greenwashing risk Critics see plastic credit systems as little more than window dressing, giving firms an excuse to continue making and using plastic rather than finding alternatives.
Noting that investors and other stakeholders will be increasingly relying on these reports, SEBI’s consultation paper said that “assurance becomes key for enhancing credibility of disclosure and investor confidence,” and that more transparency is required in the supplychains of reporting companies.
Without ‘one true view’ of ESG risk, your business is less likely to be able to connect remote workers, supplychains and your day-to-day operations which help to identify weaknesses or make improvements. When it comes to the integrity of your ESG programme and achieving your objectives, access to data is a key priority.
million pounds of plastic from flights; KKR, ECP to invest $50 billion in datacenter capacity and power generation; law firms ramp up ESG training for lawyers; capital raises for sustainable heating, industrial decarbonization, energy sector emissions solutions, and more. Copper Mine Operations to Renewable Diesel Southwest Airlines Eliminates 1.5
Besides smart, reliable regulation also accurate data on emissions along the supplychain is paramount to trigger the necessary investment. Only by moving from averages to actuals audited at reasonable assurance can freeriding and greenwashing be avoided, thereby protecting such valuable investment and our planet.
This week in ESG news: Canada to require oil & gas industry to slash emissions; California’s climate reporting law survives legal challenge; Mizuho invests in climate solutions provider Pollination; new clean energy deals signed by H&M, Meta, Saint-Gobain; incoming EU finance Commissioner calls for sustainable investment labels, reduced SFDR (..)
As companies respond to demands for both mandatory and voluntary ESG disclosures, the risk of greenwashing grows. Investors and customers are also initiating litigation to hold companies accountable for greenwashing. Why evaluate greenwashing risks? Recent studies highlight how prevalent greenwashing has become.
Australia’s competition regulator the Australian Competition and Consumer Commission (ACCC) said that it will be investigating companies for potential greenwashing, after it conducted a study that found concerning environmental or sustainability-related claims from over half of businesses reviewed.
In addition, obligations to track issues like human rights and carbon emissions in company supplychains will apply to direct business partners only, rather than the entire chain of suppliers. Supplychain audits will be required once every five years rather than annually.
The supplychain that takes apart our stuff is sometimes just as complicated as the ones making them in the first place,” he said. The supplychain that takes apart our stuff is sometimes just as complicated as the ones making them in the first place.
The investigation follows environmental sustainability-focused non-profit Stand.earth in February focused on claims made by the company regarding the green attributes of its products, operations, goals and supplychain, and Be Planet the environmental pillar of lululemon’s sustainability strategy.
Landmark due diligence directive marks an “increasingly aggressive” regulatory approach in assessing textile firms’ supplychain impacts amid green claims clampdown. It also noted a rise in international efforts to crack down on disingenuous ‘green credentials’.
The EU’s landmark sustainability due diligence directive marks an “increasingly aggressive” regulatory approach in assessing textile firms’ supplychain impacts amid green claims clampdown. It also noted a rise in international efforts to crack down on disingenuous ‘green credentials’.
Are we addressing the fragmented supplychains, culture of subcontracting, unliveable wages, systemic racism, sexism and infrastructural overhaul needed to protect garment workers? The act will mandate supply-chain mapping, impact disclosures and the implementation of science-based climate targets. Yes and no.
As NYU’s Hayek points out, the Scope 3 emissions that Maple Leaf doesn’t include are “the largest slice of their supplychain.” Over 90% of most major meat and dairy companies’ emissions – representing Scope 3 third party supplychain emissions – are mostly omitted from their climate goals.”
That means avoiding “greenwashing,” or false communications about environmental action. Greenwashing is a big problem. You’ve probably heard of greenwashing. We define greenwashing and explain why it hurts your company. What Is Greenwashing? Greenwashing can be either intentional or unintentional.
See below for the highlights of the past week, and get all your ESG news at ESG Today: Sustainability Goals, Initiatives and Achievements Microsoft Purchases Carbon Credits Helping U.S.
But Scope 3 emissions are much more complex, as they encapsulate the environmental impact of a company’s entire supplychain. However, it’s difficult to gather reliable data on these emissions, and without solid evidence, this reporting can be an exercise in greenwashing.
This week in ESG news: Microsoft signs record-breaking carbon removal deal; EY survey finds over half of CEOs say sustainability a higher priority vs one year ago; BCG sustainable aviation deal to cut 100,000 tons of emissions; ERM launches carbon credit consulting business; KKR & HASI launch $2 billion sustainable infrastructure investment partnership; (..)
An audit will reveal gaps and opportunities, which may lead to recommendations for new investments, supplychain shifts, searches for different vendors and more. Lack of visibility and perceptions of “greenwashing”. No one should mistake these energy transition commitments as short-term, passing endeavors.
In May 2022, Carlos Calvo Ambel, a senior director of the Transport & Environment environmental campaign group, called the band Coldplay “useful idiots for greenwashing” Neste’s image. The company did not specifically deny that deforestation had occurred in its supplychain.
We will cut our own emissions by 30% in 2030 and eliminate Amazon deforestation from our supplychain within five years.” “JBS JBS USA’s greenwashing exploits the pocketbooks of everyday Americans and the promise of a healthy planet for future generations. Bacon, chicken wings, and steak with net zero emissions.
We’ve globalized culture (films, books, TV series) and supplychains. Professor Yilin Shi (a CSRHub subscriber) reported evidence that many companies may be “greenwashing” their supplychains. They disclose good supplychain ESG behavior and suppress bad information. SOURCE: CSRHub.
Only when climate change adaptation at the farm level becomes a shared responsibility across the supplychain will global market prices stand a chance of stabilizing. Supplychains are global. This is a challenge because concern for greenwashing has grown alongside rates of general corporate distrust. Even if U.S.
More than 90% of executives and investors agreed that “AI is a friend of ESG,” with top cited benefits including better data estimation, improved supplychain traceability, and the ability to track controversies.
EcoVadis has a long track record helping major manufacturers like Henkel, Husqvarna, and PSA Group drive sustainability in their supplychains, reflected in the breadth of private companies EcoVadis has ESG data for and its many integrations with supplychain software.”. “As
Billion for Sustainable Food Chain Fund Infrastructure Tech Startup Neara Raises $24 Million to Help Utilities Deploy Renewable Energy, Reduce Climate Risk InterContinental Energy Raises $115 Million to Develop Green Hydrogen Projects
Since the environmental, social, governance (ESG) ratings used in the investment world are contingent on not only your business meeting sustainability requirements but also the sustainability of your supplychain, sustainable marketing can increase your visibility to both investors and those seeking more sustainable supplychain opportunities.
Tim Nash, founder, Good Investing Morningstar says that after three years of high growth, managers are being more selective and tactical in their approach ahead of anti-greenwashing regulations in the United Kingdom and Europe. Retail investors push for green funds Its not all doom and gloom.
He noted that environmental footprint labels may not be as effective to drive positive change up the supplychain, and referenced a 2020 Compare Ethics study which found that only 20 percent of consumers trust eco labels.
Most large company carbon emissions come from their supplychains and the SMEs in them. Supplychain emissions are on average 11 times higher than those produced by a corporation’s own direct activity, according to CDP.
This week in ESG news: EU Parliament approves new anti-greenwashing law; investors urge Shell to set Paris-aligned climate targets; Barclays launches new sustainable banking, energy transition investment banking teams; PwC CEO survey finds companies upskilling workers for climate megatrend; Australia drafts law requiring mandatory climate reporting; (..)
They will also have a hard time complying with the new European regulation on deforestation , which requires companies selling products in the EU market to conduct due diligence to eliminate deforestation and human rights abuses from their supplychains.
This week in ESG news: EU adopts new law against greenwashing; Walmart reaches 1 billion ton supplychain emissions reduction milestone; S&P forecasts $1 trillion sustainable bond market in 2024; Airbus, TotalEnergies launch sustainable aviation fuel partnership; Verizon invests $1 billion in renewable energy; EU lawmakers agree to certification (..)
Connecting demand – supplychain – and delivery is the first step, but evolving a great customer experience takes it a step further and puts sustainability front and center. Many organizations are implementing technology to connect commerce, marketing, sales, and service data in order to create engaging customer experiences (CX).
Solar Inverter Market Oxy Acquires DAC Carbon Removal Provider Carbon Engineering for $1.1 Million in bp-led Funding Round Exec Moves KKR Launches New Leadership Team for Global Climate Strategy Nuveen Appoints Ted Maa Managing Director of Private Equity Impact Investing
Alexandra Mihailescu Cichon, Chief Commercial Officer at RepRisk, said: “For a long time, banks, investors, and businesses have been searching for readily deployable thematic risk metrics to streamline their due diligence processes when making financing or investment decisions, engaging new suppliers, or expanding operations.
Apple to Track Suppliers’ Emissions, Targeting a Decarbonized SupplyChain by 2030. UK Regulator Targets Greenwashing with New Sustainable Investment Labels and Disclosure Rules. Greenwashing Top of Mind for Execs, as War & Inflation Threaten Corporate Climate Progress: Deloitte. Government & Regulators.
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