The Business & Climate Monthly Newsletter (April 2024)
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Our round up of this month's HOT NEWS on business, sustainability, carbon and climate over the last month
April's had highs and lows galore - never a dull moment in sustainability. Progress and resistance in spades. Whilst SBTI (Science Based Targets Initiative) hit the news for a huge governance mis-step, challenging its credibility, we've seen Unilever step back from its sustainability-leader positioning, and a landmark judgement in tthe European Court of Human Rights requiring member countries to protect citizens from climate crisis impacts. Here's our round-up of the top climate and business stories...?
1. The UK Government is under pressure ...
... and not just from local election results. The UK Government's Net Zero plans have found to be be illegal for a second time by the High Court, and its adaptation plans are up for challenge next.
2. Scottish Net Zero commitments are being rolled back...
Scottish ministers are to backtrack on their ambitious climate change targets after a damaging report warned that they are “no longer credible” and cannot be met. More here.
3. ... and Unilever signals its age of sustainability focus may be ending
Unilever is to scale back its environmental and social aims, provoking critics to say its board should “hang their heads in shame”.?The consumer goods company 's CEO, Hein Schumacher, confirmed plans to water down the company’s ethical pledges on a range of issues including plastic usage and pay.?
4. Barclays accused of greenwashing?
No surprises here, but the nature of it is outstanding... Environmental advocates are calling out Barclays for misleading the public with its financing of Eni, the Italian oil giant. Despite Eni's massive fossil fuel expansion plans, Barclays helped secure €4bn in financing, conveniently counting it towards its $1tn sustainable finance goal!
5. Whilst grandmothers in Switzerland win landmark legal case for the environment
In a landmark ruling, the European Court of Human Rights said that member countries are obligated to protect citizens from climate crisis impacts. The case was brought by 2,000 Swiss members of Senior Women for Climate Protection, who argued that their government's inadequate efforts to combat climate change put them at risk of dying during heatwaves.?
6. Coal phase out plans agreed by G7 - too little, too late?
The group of seven of the world’s biggest economies (G7) have agreed to put the end date of 2035 on coal-fired power plants in a “historic” agreement which could pave the way for other countries to do the same. About time... More here.
7. World economy as traditionally measured is set to tank?
Even if CO2 emissions were to be drastically cut down starting today, the world economy is already committed to an income reduction of 19% until 2050 due to climate change, a new study from the Potsdam Institute published in “Nature” finds, representing damages 6x larger than the mitigation costs needed to limit global warming to two degrees. More here.
Quote of the month
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“The care of human life and happiness, and not their destruction, is the first and only task of good government.”
- Thomas Jefferson, 1809.
Jargon busters
We're jargon busting to make sure climate impact is accessible and as simple as possible, one topic at a time.
What is the EU Corporate Sustainability Due Diligence Directive (CSDDD)?
The directive aims to ensure that companies take proactive measures to respect human rights and mitigate environmental impacts within their operations and supply chains. The EU parliament approved the Corporate Sustainability Due Diligence Directive (CSDDD) in 24 April 2024. Read more about it, and what it will mean for SMEs in our blog.
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That's all for this month! Do let us know any feedback, topics you'd like us to cover or visit us at ZeroBees.com