11. Who is delivering on their climate goals? And who has been caught out?
Welcome to the eleventh edition of the xtonnes? Sustainability Scoop, your gateway to the latest insights and updates on climate change, carbon regulations and green industry practices. Providing you with bitesize chunks of the latest headlines, it's designed to support you in your journey to decarbonise with confidence.??
Firstly,?some exciting news... We have released a free report on - ‘Product Carbon Footprints ’. Understanding the strategies and tools to support the sustainable development of the manufacturing industry has never been so important. One such lever is Product Carbon Footprints (PCFs) - the systematic approach that models the total greenhouse gas emissions generated by a product, from extraction of raw materials to end-of-life.?
In our report, alongside our expert contributors, we explore the growing demand for PCFs, the importance of mapping product emissions to an organisation's footprint, and tips on how to tackle PCF data challenges.?
Right, let's check out this week’s news... ? ?
??Climate check-in????
A group of researchers have released a paper stating that emissions reductions will not be enough for the EU to reach their climate goals . "We have painted humanity into a corner. It's no longer possible to solve the climate crisis simply by reducing emissions. We also need to clean the atmosphere of carbon dioxide," says Mathias Fridahl , associate professor at Link?pings universitet , Sweden. ?
Record breaking marine heatwaves will cause devastating mass coral bleaching worldwide in the next few years , according to?Professor Ove Hoegh-Guldberg ?at the?University of Queensland, Australia - "We were shocked to find heat stress conditions started as much as 12 weeks ahead of previously recorded peaks and were sustained for much longer in the eastern tropical Pacific and wider Caribbean." ?
A study of six locations within mangrove ghost forests in Queensland examined the environmental conditions that result when a mangrove forest dies . It was found that as the root systems degrade, the sediment sinks and seagrasses colonise the newly inundated land. Any remaining root systems aboveground may also attenuate waves, creating a stable environment for the seagrass to grow.? Overall, the results suggest that “degraded mangroves may transition to seagrass under future sea level rise scenarios”. ?
The UN Food and Agriculture Organisation (FAO) has released the first instalment of a new “roadmap” for reforming the world’s food systems in line with 1.5°C of warming . Published at COP28, the initial?document?“contains 20 key targets to be met between 2025 and 2050, but little detail on how they can be met”. The targets include: reducing methane emissions from livestock by 25% by 2030; ensuring all the world’s fisheries are sustainably managed by 2030; safe and affordable drinking water for all by 2030; halving food waste by 2030; eliminating the use of traditional biomass for cooking by 2030.” It notes that further detail on how the aspirations can be achieved will be set out in future instalments at the next two COP summits. ?
??Industry insights????
BlackRock announced the release of its 2024 Private Markets Outlook , identifying the low-carbon transition as one of a few key “mega forces” that it expects to drive “major investment opportunities” over the next year, and calling out specific infrastructure-related areas including clean energy and electrification. The firm said that according to its BlackRock Investment Institute Transition Scenario (BIITS), capital investment in the global energy system could double to $4 trillion annually through 2050 driven by the adoption of low carbon energy sources, which it expects to make up 70% of the world’s energy by 2050. ?
领英推荐
Amazon has revealed that it has grown its use of rail and sea transportation by 50% in 2023 in Europe , resulting in significant reductions in carbon emissions, as well as speeding up customer deliveries and inventory transfers. The company has set a goal to achieve net zero carbon emissions by 2040 across its value chain, an important goal as Scope 3 emissions account for over three quarters of 亚马逊 ’s emissions footprint. ?
Thermo Fisher Scientific has announced a new commitment to achieve 80% renewable electricity globally by 2030 . The new goal follows the launch of 赛默飞世尔科技 ’s target in 2022?to achieve a reduction of more than 50% in Scope 1 and 2 operational emissions by 2030, with one of the initiatives highlighted to reach its goal including transitioning away from fossil fuels by accelerating the adoption of renewable electricity in its facilities. ?
Nestlé has announced a series of agreements enabling the company to shift the equivalent of half of its global shipping needs to alternative, lower-emission fuels, effective immediately. Through agreements signed with logistics companies Hapag-Lloyd AG , 马士基 and 达飞轮船 , 雀巢 said that it will use green fuels, such as those made from waste, for its cargo shipping, reducing greenhouse gas emissions by approximately 200,000 tonnes annually, and avoiding the use of around 500 000 barrels of crude oil.?
The UK’s Advertising Standards Authority (ASA) ruled that online ad campaigns on Google paid for by Air France, Lufthansa and Etihad “gave a misleading impression” of these business’s environmental impacts . The Air France advert which has been running since July stated that the airline is “committed to protecting the environment” and nudged customers to choose its long-haul flights between the UK and Thailand to “travel better and sustainably”. Lufthansa, meanwhile, was rapped by the ASA for an ad campaign this summer stating that passengers could “fly more sustainably” by choosing its “Green Fares”. The fares come with a built-in payment for carbon offsetting and to fund the carrier’s investment in alternative aviation fuels, but the ASA rules that the claim was unquantified due to a lack of detail. ?
??Regulatory round-up???
The UK Government has set out further details on new due diligence rules intended to ban imports of commodities linked to illegal deforestation . The Department for the Environment, Food and Rural Affairs (Defra) set out the scope of the due diligence requirements. They will apply to all organisations with a global turnover of at least ￡50 million, with potential exemptions for firms using less than 500 tonnes of any of the listed commodities each year. Palm oil, cocoa, soy and cattle products are covered by the new rules. These businesses will need to report every year on deforestation risks in supply chains. Defra has not yet confirmed when the requirements will come into force. ?
The European Commission welcomed the provisional agreement reached between the European Parliament and Council on updated EU rules to decarbonise the gas market and create a hydrogen market .?The new rules will facilitate the uptake of renewable and low carbon gases, including hydrogen, while ensuring security of supply and affordability of energy for all citizens in the EU. ?
In addition, the European Commission welcomed the provisional agreement reached between the European Parliament and the Council to reduce the emissions and energy use of buildings across the EU . The strengthened Energy Performance of Buildings Directive (EPBD) will support the EU's efforts to decarbonise buildings across the whole Union. ?
Australia’s competition regulator the Australian Competition and Consumer Commission (ACCC) has announced the release of its final guidance on environmental claims , aimed at helping companies comply with rules to avoid misleading green marketing and advertising green claims, and protecting consumers from greenwashing. The new guidance follows the?publication of a study by ACCC earlier this year?that found that 57% of companies examined made concerning claims about their environmental credentials. Following the release of the study, the regulator said that it will be investigating companies for potential greenwashing, and that it will conduct education activities with businesses and update guidance to help improve the integrity of environmental claims. ?
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We look forward to seeing you next week!??