12. Are we winning the climate battle?

Welcome to the twelfth 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.?

As always, we are looking for your feedback. Reach out to us if there is something in particular you would like to learn more about – or just with any questions or ideas!?

But for now, let's dig into this week’s round-up...? ?

??Climate check-in???

The United Nations Climate Change Conference (COP28) closed with an agreement that signals the “beginning of the end” of the fossil fuel era by laying the ground for a swift, just and equitable transition, underpinned by deep emissions cuts and scaled-up finance. Negotiators from nearly 200 Parties came together in Dubai with a decision on the world’s first ‘global stocktake’ to ratchet up climate action before the end of the decade – with the overarching aim to keep the global temperature limit of 1.5°C within reach.?

“Whilst we didn’t turn the page on the fossil fuel era in Dubai, this outcome is the beginning of the end,” said UN Climate Change Executive Secretary Simon Stiell in his closing speech. “Now all governments and businesses need to turn these pledges into real-economy outcomes, without delay.” The global stocktake is considered the central outcome of COP28 – as it contains every element that was under negotiation and can now be used by countries to develop stronger climate action plans due by 2025.?

The European Commission says that European Union countries are falling behind on their core climate change target and without stronger emissions-cutting policies risk missing the goal. Overall, countries are moving in the right direction. EU emissions have been falling since 1990, and installations of renewable energy have soared. But neither are happening fast enough to meet Europe’s climate ambitions.”?EU climate commissioner, Wopke Hoekstra, said: “It is clear we need stronger commitments in the final plans to put us firmly on the right track to climate neutrality, build resilience to climate impacts and to capitalise on the gains that come from the climate and energy transition.”?

New research has explored the influence of powerful stakeholder groups on shaping online communication around climate change and sustainability. Using machine learning, the study examined historical Twitter interactions relating to climate change over seven years (2014-21) for eight fossil fuel firms, 14 non-governmental organisations (NGOs) and eight inter-governmental organisations (IGOs). The findings showed that fossil fuel companies are “more likely to respond to IGOs’ and NGOs’ online messaging changes, especially regarding environmental justice and climate action topics”. ?

A new study found that the extensive seagrass meadows in the coastal Bahamas may store up to 590 million tonnes of organic carbon in the top metre of sediment, representing a substantial global blue carbon hotspot. However, the amount of organic carbon in the sediments has decreased since 1980, suggesting disturbance of seagrass ecosystems, likely caused by tourism and maritime traffic activities.?

??Industry insights????

The Commission selected 17 small-scale innovative clean tech projects to receive over €65 million in project support under the EU Innovation Fund. These funds will help companies in Europe, including small businesses, to bring breakthrough technologies to the market in energy-intensive industries, renewable energy, and energy storage. The selected projects cover a wide range of sectors, with a particular focus on manufacturing of components for renewable energy and glass, ceramics, and construction materials. The selected projects are expected to avoid over 1.8 million tonnes of CO2e emissions within the first ten years of their operations, contributing to Europe's decarbonisation and clean energy transition.?

OKAY Engineering has announced plans to become fully carbon neutral within ten years. Thanks to ￡187,000 of funding from Lloyds Bank, the business boosted its green credentials by installing 425 solar panels on its factory roof. The 200 MWh system now provides two-thirds of the company’s energy demand, reducing energy bills by ￡1 million over the panels’ 25-year lifetime. The new measures are set to save 40 tonnes of CO2?production each year, the equivalent of planting 1,728 trees.?

The Compleat Food Group has announced that its targets to reach net zero across its own operations and value chain by 2040 have been validated by the Science Based Targets initiative (SBTi) in a key milestone for the company’s ESG strategy.?The near-term net zero targets approved by the SBTi include a commitment to reduce absolute Scope 1 and 2 GHG emissions from its own operations by 50% by 2030 and to reduce Scope 3 emissions from its wider supply chain by 50% within the same timeframe. ?

Similarly, The Gym Group, has confirmed that its near- and long-term carbon reduction goals have been approved by the SBTi. These targets include reducing Scope 1 and 2 emissions by 50% before 2030, and 90% by 2045. David Melhuish, The Gym Group Chief Development and Sustainability Officer, said: “Minimising our environmental impact across our operations has always been fundamental to our business, and having our targets validated by the SBTi is a hugely important milestone in our journey to net-zero.”?

??Regulatory round-up???

The UK government announced that a Carbon Border Adjustment Mechanism (UK CBAM) will be introduced by 2027. The tax aims to protect British manufacturers and match similar measures in the EU. Imports of iron, steel, ceramics, cement and other goods from countries with weaker climate regulations than Britain will be subject to a levy to prevent UK companies from being undercut by foreign rivals. Ministers also view the levy as key to preventing the UK from becoming a dumping ground for carbon-intensive goods once the EU brings in its levy in 2026. Further details on the design and delivery of a UK?CBAM?will be subject to consultation in 2024.?

The Council of the EU and the European Parliament have reached a compromise on the Corporate Sustainability Due Diligence Directive (CSDDD), paving the way for its formal adoption by both institutions and thus the CSDDD's entry into force before year end. Approximately 13,000 companies inside the EU and 4,000 additional companies incorporated outside the EU are in scope of the CSDDD.?Next to its protection of human rights, the CSDDD adopts a holistic approach to climate protection. Companies will have to develop plans aligning their business strategies with sustainability and limiting global warming to 1.5 C°. The scope of due diligence obligations under the CSDDD extends to the entire value chain, upstream and downstream.?

For more resources, check out our blog and free online learning courses.??

We look forward to seeing you next week!??

?