Latest Industry News: Edition 33

Salesforce’s $25 Million Carbon Removal Initiative??

Salesforce, the American cloud-based software company, has disclosed its carbon dioxide removal (CDR) commitments.??

CDR refers to the technologies and processes designed to remove carbon dioxide from the atmosphere and store it, mitigating climate change by reducing greenhouse gas (GHG) emissions.???

As a member of the First Movers Coalition, a global alliance of companies leveraging their collective influence to reduce carbon emissions, Salesforce aims to address climate change by investing $25 million into CDR technologies, through the Frontier initiative, which aims to accelerate the development of permanent CDR technologies.??

Salesforce intends to prioritise purchases through Frontier for solutions that securely store carbon for over 1,000 years, can become affordable on a large scale, and not compete for agricultural land.??

This aligns with Salesforce’s net zero commitments as it reduces emissions across its value chain, by offsetting remaining emissions effectively.??

The tech giant company has also established a partnership with Qualitas Energy to develop Salesforce’s renewable energy portfolio with a newly developed 27-megawatt (MW) solar project located in Italy.??

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Prominent Fashion Brands Unite to Decarbonise Supply Chains??

In an effort to reduce supply chain emissions, renowned fashion brands H&M, Mango, Gap and Bestseller have joined forces to support suppliers financially and practically in transitioning to clean energy.??

On the 13th of June, these major fashion brands disclosed The Future Supplier Initiative, a new project focusing on reducing the impact of production within the fashion industry.??

The dependence on fossil fuels in fashion has been an ongoing issue, with an estimated 10% of global GHG emissions attributed to the industry, surpassing the combined energy consumption of the aviation and shipping sectors, according to the UN.??

This scheme is beneficial as it provides a collaborative financing approach for brands to support apparel suppliers in achieving significant decarbonisation efforts.??

The first programme is set to debut in Bangladesh, aiming to tackle climate issues as approximately 99% of total fashion brand emissions originate from the supply chain, with a focus on accelerating the transition to reach zero emissions.??

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Novotel Announces Ocean Protection through WWF France Partnership??

Hotel chain Novotel has recently entered a 3-year collaboration with WWF (World Wildlife Fund) France, beginning in 2024.??

The hotel company aims to tackle issues regarding the world’s oceans and all 580 of Novotel’s hotels around the world will be included in this agreement.??

The initiative includes supporting 5 key ocean protection and restoration projects and strengthening its corporate sustainability efforts related to marine ecosystems.??

As outlined by the UN, the key areas for this initiative will focus on include marine pollution, ocean acidification, overfishing, and addressing knowledge gaps by enhancing research on ocean health.???

The ocean protection plan involves implementing new sustainable seafood and supply chain policies for purchased goods, guided by WWF, building on existing efforts to reduce meat and fish on menus while promoting plant-based alternatives.??

In addition, guests will also be exposed to ocean awareness campaigns, with staff becoming increasingly educated on how to make the best changes.??

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Sainsbury's Sustainability Commitment??

In a bid to significantly reduce plastic use on meat and fish packaging, Sainsbury’s is set to decrease its annual plastic production by 649 tonnes, by replacing plastic trays across a wide range of fish and chicken dishes.??

The supermarket company has swapped its original rigid plastic trays, which contributed to environmental waste and pollution, to a pulp cardboard substitute, and is the first retailer in the UK to do so.??

Subsequently, this will cut the amount of plastic used in fish and chicken packaging by 70%, and the new packaging will be easily recyclable.??

In addition, the supermarket retailer is set to introduce cardboard trays for its Taste the Difference and By Sainsbury’s breaded chicken products, which are projected to reduce annual plastic usage by 300 tonnes. Sainsbury’s is also implementing this change for its Taste the Difference breaded fish fillets, which is expected to save 48 tonnes of plastic per year.??

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Kingfisher’s Decarbonisation Commitment??

Kingfisher has set out ambitious aims with its vendors for decarbonisation, aligning with its overall aims to reduce Scope 3 (indirect) emissions.???

The multinational retailing company’s targets include ensuring that its 100 largest vendors by Scope 3 emissions develop a Science Based Targets initiative (SBTi) aligned roadmap and decarbonisation target by 2028.???

In addition, the next 450 vendors are expected to establish an SBTi-aligned roadmap and decarbonisation target by 2030, with the remaining vendors required to implement a carbon reduction plan by the same year.??

Vendor manufacturing contributes to around 20% of Kingfisher’s Scope 3 emissions, underscoring its importance in the company’s efforts to reduce emissions.??

With approximately 45% of Kingfisher’s group sales that come for its Own Exclusive Brands, the company is in a strong position to lead advancements in addressing Scope 3 challenges.???

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West Midlands Investment Zone Receives Approval??

The West Midlands Combined Authority (WMCA) approved the delivery plan of the West Midlands Investment Zone on the 14th of June, which will incorporate tax incentives, direct funding, and business retention rates for the zone.??

This initiative is set to create 30,000 jobs alongside attracting ￡5.5bn worth of investment.??

The plan targets growth in advanced manufacturing, green industries, health technology, and foundational digital technologies.??

Whilst the Investment Zone will span the entire West Midlands, it will be driven by three specific sites offering specialised funding and incentives for businesses that establish operations there.???

The sites include the Coventry-Warwick Gigapark, featuring a proposed gigafactory; the Birmingham Knowledge Quater; and the Wolverhampton Green Innovation Corridor.???

Located at Coventry Airport, Coventry-Warwick Gigapark will receive tax incentives and business rate retention, along with a ￡23m investment for land remediation and infrastructure.??

The Birmingham Knowledge Quater and Wolverhampton Green Innovation Corridor will also receive tax incentives, with Birmingham getting a ￡9m investment; and the Wolverhampton Green Innovation Corridor, set to secure ￡7m.??

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