ESG is Here to Stay!
Thanks for subscribing, and welcome to Good.News! In this weekly sustainability & ESG (Environmental, Social and Corporate Governance) newsletter, we aim to?give you a boost of positivity.
Sustainability isn’t all rainbows ?? and unicorns ??, but at Good.Lab , instead of piling on with the negativity, we’re here to celebrate the sustainability highs, ESG triumphs, and climate champions!
Ready for your weekly dose of good news? Here are five compelling, good news stories to send you off into your weekend with some wind in your sails.
1. Global Companies Embrace Ongoing Sustainability Initiatives
Despite the possibility of climate action decreasing at the federal level in the US in the coming years, companies will still report on their environmental and social performance and push commercial pressure on their suppliers to do the same. Research shows that the number of S&P 500 companies sharing workforce demographic data rose from 5.3% in 2019 to 82.6% in 2024, and the number of mid-sized public companies reporting Scope 1 and 2 rose from 22% to 53% in the same period. The number of companies doing sustainability reporting has increased yearly for the last ten years, regardless of leadership at the top. We expect these trends to continue as global regulations for sustainability reporting kick in and companies attempt to meet their sustainability targets.
We’ve unpacked these insights in more detail in our newsletter. Check it out here: https://hubs.ly/Q02YgCml0
2. Down Ballot Votes Show There Is Still Desire for US Climate Action
While national election results might seem unfavorable for climate action, down-ballot victories across states tell a different story. California passed a $10 billion climate adaptation fund, Rhode Island approved climate investments, and Washington's attempt to reverse its climate commitment was defeated. These outcomes show that climate action remains a priority at state, corporate, and individual levels, even amid federal uncertainty.
3. California Climate Rule Overcomes First Legal Hurdle
The California Climate Rule SB 219 (Previously SB 253 and 261) is currently fighting a lawsuit from the US Chamber of Commerce and other business groups. Last week, it cleared the first hurdle in the case, with the presiding judge disagreeing with the first part of the lawsuit, which claims the rule is unconstitutional and against the First Amendment, saying the court did not have sufficient information to determine “which of the laws’ applications violate the First Amendment.” This is a huge step towards US-wide climate risk and emissions reporting, and companies should begin preparing accordingly.
4. Climate Investments Continue to Rise
This week's new report from the Net Zero Asset Owners Alliance (NZAOA) found that investment in climate solutions increased by 38% ($127 billion to $175 billion) from 2022 to 2023. This growth indicates that investors are backing the transition to a low-carbon economy and supporting companies that are contributing to this shift.
5. EU Emissions Shrinking
Emissions in the EU dropped by a little over 8% in 2023, with renewable energy now making up 45% of the continent’s energy mix. The EU is setting an example of how countries and companies can reduce emissions while continuing to grow. Since 1990, the EU has grown by 68% and has reduced emissions by 37%.
Stay tuned for next week's edition of Good.News, where we will bring even more uplifting tales of sustainability successes. Feel free to spread the positivity by sharing this newsletter with someone who could use a burst of good vibes in their day!
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