The Business & Climate Monthly Newsletter (May 2024)
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Understanding sustainability & carbon for SMEs and supply chains | B Corp Advisory | ESG | Decarbonisation
Our round up of this month's HOT NEWS on business, sustainability, carbon and climate over the last month
With news of Mexico City’s key water source is drying out, heatwaves across India and Asia, May’s headlines show us climate change is not something “in the future”, with its early impacts already here and devastating some communities. What did May’s new bring from the corporate and government sectors? Here's our round-up of the top climate and business stories...
1. Largest oil and gas firms’ climate pledges are failing on all counts
No surprises here, perhaps. Despite high profile pledges and campaigns rife with greenwash, research and advocacy group Oil Change International has shown that the eight largest US and European oil and gas producers do not have any plans compatible with limiting global warming to 1.5C.
2. Record breaking increase in level of CO2 in atmosphere
The largest ever recorded leap in the amount of carbon dioxide in the world’s atmosphere has just occurred, according to researchers who monitor the relentless accumulation of the primary gas that is heating the planet.?
3.?Despite 11 bn USD profit in 2023, Colgate Palmolive likely to miss plastic commitments
Colgate-Palmolive won’t meet its own packaging commitments. It had committed to making all packaging recyclable, reusable or compostable by 2025 (and let’s face it, that’s still doesn’t mean no virgin plastic or ownership of what actually happens at the end point). Weak ambition, poor execution, or not enough financial penalty to change a highly lucrative strategy? More here.
4.?LEGO group incentivise climate reduction among staff
TThis is something all corporates should have: sustainability KPIs linked to pay and bonuses. Well done LEGO. Now if only they could work out how not to be made of plastic… Read more here.??
5.?Almost half European ESG funds to fall foul of greenwashing rules
Following new EU guidelines for the use of ESG and sustainability-related terms for investment fund names, analysis suggests over 40% of investment funds in the EU using ESG or sustainability-related labels may be required to change names or sell assets in order to comply.
Quote of the month
“There is no evidence that big oil and gas companies are acting seriously to be part of the energy transition.”
- David Tong, global industry campaign Manager at Oil Change International.
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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 ESG?
ESG stands for Environment, Society and Governance. It is a collective term for a business's impact on the environment and society as well as how robust and transparent its governance is in terms of company leadership, executive pay, audits, internal controls, and shareholder rights.?It measures how your business integrates environmental, social, and governance practices into operations, as well as your business model, its impact, and its sustainability. It does diverge from "sustainability" or "impact" as it is derived from a set of standards and metrics from the financial sector, and doesn't contextualise how much of an impact a company should be having, only that it has processes or activities in certain areas.?
ZeroBees News
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ZeroBees launches Business Impact Tracker
Diversity Media Sales (DMS) are the first media SME to achieve a verified ESG score and identify their improvement plan through the ZeroBees’ Business Impact Tracker process, aiming to measure impact and encourage improvement in sustainability the media sector. Read more here.
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