SpeedRead Sustainability #17: Weekly Highlights

Explore the latest sustainability updates and trends in this edition, which highlights the impacts and risks of social and environmental challenges, alongside innovative solutions that benefit both people and the planet.

Top Story:

July Breaks Records as California's Hottest Month Ever

California experienced its hottest month on record in July, with an average temperature of 81.7°F (27.6°C). Some areas saw temperatures soar above 100°F for days, fueling wildfires and drying out vegetation. Death Valley recorded its hottest month ever, and cities like Palm Springs and Redding broke temperature records. The extreme heat not only posed serious health risks, especially to vulnerable populations, but also intensified wildfires across the state.

Business Spotlight:

BBC Prioritizes Climate Change in Broadcasting

The BBC is enhancing its focus on sustainability, committing to halve emissions by 2030 and achieve net-zero by 2050. As a signatory of The Climate Content Pledge, the BBC aims to use its content to educate and inspire viewers on climate issues. Notable efforts include integrating climate change themes into popular programs like Blue Planet and Top Gear, reflecting the urgency of environmental challenges across diverse genres.

Pivot Energy and Microsoft Partner on 500 MW Solar Projects for Local Communities

Pivot Energy has entered a 5-year agreement with 微软 to develop up to 500 MW of community-scale solar projects across the U.S. between 2025 and 2029. This collaboration, Microsoft's first major distributed generation portfolio, aims to reduce Scope 3 emissions and deliver significant community benefits.

BBVA Sets Record with €26 Billion in Sustainable Business in Q2 2024

BBVA channeled €26 billion in sustainable business in Q2 2024, marking a new quarterly record. This achievement contributes to a total of €46 billion mobilized in the first half of 2024, a 37% increase from the same period in 2023. The bank's efforts are driven by significant growth in project finance for renewable energy and cleantech.

MIT Engineers Develop Sustainable Hydrogen Fuel from Aluminum and Seawater

美国麻省理工学院 engineers have created a sustainable method for producing hydrogen fuel using aluminum, seawater, and coffee grounds. This innovative process, which can lower carbon emissions, involves treating aluminum with a rare metal alloy to generate hydrogen when mixed with seawater.

Paris Olympic Pool Heated by Data Center Waste Heat

At the 2024 Paris Olympics, the pool used for artistic swimming, diving, and water polo is heated by waste heat from a nearby Equinix data center. This innovative approach captures heat generated by servers, which is then transferred to the pool, maintaining the water at around 80°F. The data center also features sustainability initiatives like a rooftop garden and solar panels.

How Mars Cut Emissions by 16% While Growing Business by 60%

玛氏食品 , the company behind brands like Ben's Rice and M&Ms, achieved a 16% reduction in emissions since 2015 while growing its business by 60%. Key strategies include sustainable sourcing of ingredients like cocoa and soy, eliminating deforestation in supply chains by 2025, and incentivizing executives and suppliers to meet climate goals. Mars has invested $1 billion in sustainability innovations and ties 40% of executive incentives to emissions reductions.

Ancient Rice Terraces Inspire Modern Flood Solutions in Asian Cities

In response to increasing climate challenges, Asian cities are adopting ancient agricultural techniques like rice terraces to manage flooding. Landscape architect Kotchakorn Voraakhom, motivated by her experiences with devastating floods in Bangkok, has designed nature-inspired solutions such as green rooftops that mimic rice terraces, helping cities absorb and purify rainwater.

New Tool Highlights Top U.S. Regions for Cleantech Manufacturing Growth

RMI has launched the Clean Growth Tool, a new platform designed to help policymakers and investors identify the best U.S. states and cities for cleantech manufacturing and investment. The tool highlights key regions in states like Arizona, Georgia, and Michigan that are poised to lead in industries such as solar, batteries, and electric vehicles, fueled by the Inflation Reduction Act (IRA).

Salesforce Prioritizes Trust with "Shift Left" Compliance Strategy

Salesforce has embraced a "shift left" approach to compliance, integrating security measures early in the software development process to ensure trust remains central to its operations. Lokesh Ramani, VP of Security Compliance, explains that by involving compliance teams from the start, Salesforce reduces the need for costly retrofits and accelerates certification processes.

Paris Olympics Showcase the Potential of Reusable Packaging on a Massive Scale

The 2024 Paris Olympics have set a new standard by replacing single-use beverage cups with reusable alternatives, marking the largest sports event ever to do so. Partnering with Re-uz, the initiative aims to demonstrate that large-scale reuse is achievable, reducing waste and raising awareness about sustainable practices. While not without challenges, the effort has inspired global interest, with requests from regions like South America and the Middle East to adopt similar systems.?

Paris Olympics Sets New Standard for Plant-Based Dining

The 2024 Paris Olympics has set a new precedent by doubling the amount of plant-based food served compared to previous Games, making it the most vegan-friendly Olympics to date. The initiative aims to balance environmental concerns with local agricultural interests, offering two-thirds plant-based options in most venues and committing to sourcing 80% of products from within France.

Nissan Tests Cool Paint Technology to Lower Cabin Temperatures

日产 is trialing a new automotive paint developed with Radi-Cool that incorporates metamaterial to significantly lower cabin temperatures and reduce energy usage for air conditioning. In testing, the paint reduced exterior surface temperatures by up to 21.6°F and interior temperatures by up to 9°F compared to traditional paint.

Trends & Insights:

Investors Still See Climate Action as Key to Business Success Despite Anti-ESG Pushback

Despite recent backlash against ESG policies, new research shows that investors remain committed to climate action as essential for business performance. A survey of affluent investors revealed strong support for companies that invest in clean energy and address climate risks, with 88% believing that environmentally responsible businesses are more likely to succeed financially.

Key Insights on Sustainability: What Businesses Need to Know

益普索 highlights the growing importance of sustainability for businesses, revealing that 71% of consumers choose brands that align with their personal values. A global survey shows 80% of people believe urgent action is needed to avoid environmental disaster, yet many, particularly in the U.S., struggle to integrate environmental priorities into their daily lives.

Private Equity Drives Growth in Impact Investing

Private equity is leading the impact investing market, which reached $495.82 billion in 2023. Major firms like KKR and TPG are making significant commitments, driving growth through strategic leadership, sustainability integration, and impact measurement. While private equity firms are pioneering impact value creation, many investors still miss opportunities by not fully monitoring their contributions.

UK to Introduce Law Regulating ESG Rating Providers in 2024

Britain plans to propose a law in 2024 to regulate ESG rating providers, aiming to enhance transparency and solidify its leadership in sustainable finance. Currently, ESG raters follow a voluntary code of conduct, but new legislation will align with EU regulations and IOSCO recommendations.

Over 70% of Global Workforce at Risk from Extreme Heat, UN Report Warns

A UN report highlights that more than 2.4 billion workers worldwide are at risk from severe heat due to the ongoing climate crisis. Heatwaves are predicted to claim 1.6 million lives by 2050, with workers in Africa and the Arabian Peninsula among the most vulnerable.

Making the Global $9 Trillion Food Supply Chain Sustainable

The global food supply chain, valued at $9.12 trillion, faces significant challenges in integrating sustainability due to its complex, multi-tiered nature. Issues like lack of visibility, trust, and sustainability infrastructure hinder progress. However, improving collaboration, adopting sustainable innovations, mapping supply chain impacts, measuring performance, and building capacity can drive sustainable practices.

Coexisting with Wolves: A Tradition in Portugal's Montesinho

In the Montesinho region of Portugal, shepherds like Miguel Afonso coexist peacefully with wolves, a relationship that has persisted for centuries. While wolves are often seen as a threat to livestock in other parts of Europe, Montesinho's shepherds use traditional methods, such as guard dogs and fencing, to protect their animals. This approach has kept wolf attacks to a minimum, even as the region supports 40% of Portugal's wolf population.

Ban on Virgin Atlantic's SAF Ad

The Advertising Standards Authority banned Virgin Atlantic's ad for claiming its flight used 100% sustainable aviation fuel, which still emits significant CO2 and has environmental trade-offs. Future ads must disclose these impacts, reflecting the challenges of marketing airline sustainability efforts.

Paris Olympic Heatwaves 'Virtually Impossible' Without Climate Change

A report by World Weather Attribution concludes that the extreme temperatures experienced during the Paris 2024 Olympics would not have occurred without human-induced climate change. The analysis reveals that July's heatwaves were 2.5°C to 3.3°C hotter due to the climate crisis, emphasizing the urgent need to reduce fossil fuel consumption.

Campaigns and Initiatives Roundup:

Thomas Cook Urges Tourists to Rethink Beach Inflatables

Thomas Cook, in partnership with the Marine Conservation Society, is encouraging customers to reconsider purchasing new beach inflatables this August. Through a campaign delivered by McCann Birmingham, the holiday company is working with hotel partners to promote recycling, borrowing, and sharing beach toys, aiming to reduce plastic waste and promote sustainability among tourists.

Noah Lyles Uses Olympic Victory to Highlight Mental Health Awareness

After winning the 100-meter gold at the Paris 2024 Olympics, Noah Lyles shared a message on X about his struggles with asthma, dyslexia, ADD, anxiety, and depression, generating over 12 million impressions and 300,000 likes in 48 hours. His post underscores the importance of mental health awareness, resonating strongly amid the high engagement seen during the Paris games.