Innovation Watch: Law & (Dis)order
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Last week, the US Securities and Exchange Commission announced it had approved rules that will require large, publicly traded businesses to disclose climate-related information to investors. Given that two years, and many amendments, have passed since the SEC first proposed the rules, the news has provided clarity – and some relief – to sustainability professionals. Finally, teams that have spent months preparing for the new standards, despite not knowing precisely what will be required of them, have the information they need to press ahead with their compliance plans.
But for how long? With the ink on the rules barely dry, representatives on both sides of the debate were threatening to challenge them. Reuters reports 10 states have already filed a petition to overturn the “crushing” regulatory burden they claim companies will face. On the other side of the debate, campaigners who have criticised the Commission for not going far enough have said they are also considering legal action after the SEC withdrew plans to mandate Scope 3 emissions reporting.
As the lawyers prepare their arguments, Sustainability Leaders members should read the findings of our working group on preparing for the new regulatory environment to understand how they can ensure they have the governance and tools in place to prepare for the final, final rules – whatever they may be.
Plastics microfactory looks to make a big impact
A first-of-its-kind plastics recycling and remanufacturing “microfactory” in Phoenix, Arizona, will convert waste materials into new products as the US city looks to develop a circular regional economy.
The facility – developed through a partnership between Arizona State University (ASU), the city of Phoenix, Goodwill of Central and Northern Arizona, and Hustle PHX – takes sorted plastic waste, processes it into pellets, and uses these to create items such as flat-pack furniture, skateboards and plastic components for larger products.
Although plastic collection, processing and remanufacturing facilities exist across the world, this is the first time anyone has brought the entire process under one roof.
At present, the site can process type 2 and 5 plastics, including toys and food packaging, but hopes to expand to include types 1 and 4 plastics in future. 美国亚利桑那州立大学 estimates the facility will save 550 tonnes of plastic waste from landfill each year.
ASU’s long-term goals for this project extend beyond the city. Once the team determines the microfactory’s success in Phoenix, it?hopes to expand the project to support women internationally.
“Seventy per cent of waste pickers around the world are women. They collect enough valuable plastic, metal or glass to sell for their family’s next meal,” said Rajesh Buch, director of business development at ASU’s Rob and Melani Walton Sustainability Solutions Service. “If you can move them up the value chain so that they not only collect the material, but process and manufacture it into a new product, then they start making a livable income."
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