Companies Embrace Sustainability Amid Greenwashing Worries
Hey, Sustainability Enthusiasts!???
In this issue, we're pulling back the curtain on corporate eco-claims. Are companies truly going green, or is it just greenwashing?? From net-zero pledges to carbon offsets, we'll dig into the truth behind the sustainability buzz. Ready to spot the real climate champions? Let's dive in!?
A new survey by Fidelity International reveals that investment companies are still prioritising sustainability efforts, despite concerns about "greenwashing" and potential ESG fatigue.
Key Findings
Climate change: Cos need some big changes on compliances
As per data sourced from Prime Database, only 122 companies among the top listed 1,000 companies disclosed of having conducted environmental impact assessments (EIAs) of projects undertaken by them in their FY23 business responsibility and sustainability report.
EIAs are typically required for projects involving industrial manufacturing, mining, infrastructure, power, waste management, water resources and handling of hazardous substances. The objective is to ensure that potential environmental impacts are considered and mitigated before project approval and implementation. Companies such as Adani Ports & SEZ, Ambuja Cements, Coal India, GMDC, Patel Engineering, Ramco Cements, Tata Steel and Ultratech Cement have undertaken a high number of EI?.
Corporate Reports for an ESG-Conscious Audience
NEW rules mandating climate-related disclosures have taken effect in Singapore. Listed companies in the financial, agriculture, food and forest products, and energy sectors are required to include such disclosures in their sustainability reports from the 2023 financial year.
These disclosures must be consistent with the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD). TCFD is an international grouping of industry experts from financial institutions, large companies and professional services firms.
The TCFD’s recommendations, contained in a 74-page report, cover governance, strategy, risk management, metrics and targets related to climate-driven risks and opportunities.
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For years, the conversation around corporate sustainability has been dominated by a narrow focus on risk mitigation and compliance.Companies have viewed environmental and social issues as a cost of doing business, a box to be checked to avoid negative publicity or regulatory penalties.
But as the scale and urgency of the climate crisis becomes impossible to ignore, a new paradigm is emerging - one that recognizes sustainability not as a burden, but as a source of competitive advantage and long-term value creation.
Need Help with Corporate Sustainability?
Businesses across the world are ramping up their sustainability efforts to safeguard their future. You are not alone in this. Schedule a call to understand how Newtral AI can empower your sustainability teams.
This newsletter was curated by Anjali from Newtral. Reach out to her at [email protected] or on LinkedIn.
CEO at All On
9 个月Thank you for shedding light on this important topic, Newtralio! It's crucial for businesses to be transparent and honest about their sustainability efforts. As consumers become more environmentally conscious, it's important for companies to not just make claims, but to back them up with concrete actions. Let's continue to hold businesses accountable and encourage them to truly walk the talk when it comes to being eco-friendly.