SpeedRead Sustainability #24: 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:

Global Public Sees Extreme Heat and Rising Food Prices as Key Climate Impacts

GlobeScan ’s latest research reveals that 64% of people worldwide feel climate change personally through extreme heat, while 59% link it to rising food prices. Additionally, 68% are concerned about climate change’s future impact on food production, underscoring the need for climate adaptation and food system transformation.

Business Spotlight:

TPG Secures $1.25 Billion for Global South Climate Initiative

TPG Rise Climate announced $1.25 billion in initial capital commitments for its Global South Initiative (GSI), launched in partnership with ALTéRRA. This strategy aims to accelerate climate investments in high-growth opportunities across the Global South. Anchored by UAE-based ALTéRRA, the initiative targets $2.5 billion in total commitments, focusing on clean energy and emissions reduction projects.

LFC Hosts Sustainability Panel with US Sports Leaders at New York Climate Week

Liverpool FC hosted a panel during New York Climate Week , joined by leaders from the NHL, NFL, and NASCAR, to discuss the role of sports in driving sustainability. Representing LFC, Rishi Jain highlighted the club's sustainability strategy, The Red Way, which aims for net zero by 2040. The event coincided with Global Goals Week, further showcasing LFC's support for the UN’s Sustainable Development Goals.

Nvidia and G42 Partner to Advance AI Climate Technology

Nvidia and UAE-based G42 have partnered to leverage AI for climate-related challenges . Central to the collaboration is Nvidia's Earth-2 platform, which uses high-resolution simulations to improve weather and climate forecasts. The partnership will establish a Climate Tech Lab in Abu Dhabi, focusing on creating precise weather models to aid in agriculture, urban planning, and disaster management.

Italy Investigates Shein for Possible Greenwashing

Italy’s antitrust watchdog has launched an investigation into Shein over potential greenwashing . The probe will assess whether Shein's sustainability claims, particularly around its “EvoluShein” collection and decarbonization targets, are misleading consumers. The investigation comes as Shein faces criticism for rising greenhouse gas emissions despite its sustainability pledges.

California Sues ExxonMobil Over Misleading Plastics Recycling Claims

California Attorney General Rob Bonta has filed a lawsuit against ExxonMobil, accusing the company of overstating the recyclability of its plastic waste. Despite claims that most plastic is recyclable, only 8% of the waste processed becomes recycled plastic. The lawsuit alleges ExxonMobil violated laws related to false advertising and pollution, seeking civil penalties that could reach billions.

How Sodexo Engages Stakeholders to Achieve Net Zero Goals

Sodexo’s sustainability director, Katherine Walker, emphasizes the critical role of stakeholder engagement in driving the company’s decarbonization strategy. With 95% of Sodexo’s carbon footprint linked to client sites, the company works closely with employees, clients, and suppliers to reduce emissions. By integrating sustainability into job roles, partnering with suppliers, and engaging clients across sectors, Sodexo aims to meet its goal of reducing carbon emissions by 34% by 2025.

IOC Announces 2024 Climate Action Award Winners

The IOC has awarded the 2024 Climate Action Awards to Olympic rower Imogen Grant, beach volleyball player Lina Taylor, Swiss Olympic, and the International Hockey Federation for their efforts in reducing sports’ environmental impact. Supported by Deloitte, the awards recognize innovative climate initiatives that inspire the Olympic Movement to address climate change.

Trends & Insights:

Why Climate Change is Driving Up Home Insurance Rates

Homeowners across the U.S. are facing rising insurance premiums and shrinking coverage, with rates increasing by 34% between 2017 and 2023. Climate change , causing more severe weather events such as hurricanes, wildfires, and floods, is a key factor. As extreme weather becomes more frequent, insurers are adjusting their risk models, leading to higher payouts and rising premiums. In some areas, insurers are withdrawing from markets altogether, further complicating homeowners' ability to secure affordable coverage.

Global Spending on Harmful Subsidies Reaches $2.6 Trillion

New research shows that $2.6 trillion is spent annually on environmentally harmful subsidies (EHS), making up 2.5% of global GDP. The rise is largely driven by increased fossil fuel subsidies due to the war in Ukraine, with agriculture also contributing significantly as governments address food insecurity.

Portugal’s Wildfires Set Emissions Record, Smoke to Impact France and Spain

Wildfires in northern Portugal have produced record emissions, with carbon and particulate matter levels at their highest in 22 years, according to the Copernicus Atmosphere Monitoring Service (CAMS). The fires, which began on 14 September, have burned 100,000 hectares and degraded air quality across the region.

Earth Nears Seventh Planetary Boundary Breach, Says New Report

A new report by the Potsdam Institute for Climate Impact Research reveals that Earth is close to breaching its seventh planetary boundary, with ocean acidification nearing a critical threshold. The report highlights the interconnected nature of planetary systems, warning that breaches in climate stability, biosphere integrity, and ocean acidification threaten marine ecosystems and global sustainability. Scientists stress the need for a more holistic approach to address these environmental crises, as human impact on the planet intensifies.

Investing in Climate Action: An Economic Imperative

Failure to act on climate change could lead to a loss of 10% to 15% of global GDP by 2100. However, investing just 2% of GDP in mitigation efforts can limit temperature rise to under 2°C, avoiding significant economic losses and generating long-term value for the global economy.

The Great Green Business Rethink: Transforming Markets for Sustainability

As corporate sustainability faces scrutiny, experts are calling for a shift from focusing on individual companies to reforming entire markets. Leaders argue that current green business strategies aren’t enough to address the climate crisis, and broader regulations and market reforms are needed to drive lasting climate action.

Bridging the Sustainability Skills Gap Across Supply Chains

To meet sustainability targets, organizations must invest in reskilling their workforce, collaborate with public and private sectors, and shift toward long-term value creation. Closing this skills gap is crucial to transforming global supply chains and achieving the UN’s Sustainable Development Goals by 2030.

IFRS Foundation Releases Guide for Voluntary Application of ISSB Standards

The IFRS Foundation has published a guide to help companies voluntarily apply ISSB Standards , responding to investor demand for globally comparable sustainability information. Released during New York Climate Week, the guide supports companies in jurisdictions without mandatory requirements, offering a global baseline for sustainability disclosures to inform investment decisions.

EU Launches Public Consultation on Flight Emissions Label

The European Commission has initiated a public consultation on the proposed EU Flight Emissions Label (FEL), which will provide passengers with standardized CO2 emissions data for flights. Set to be available for voluntary airline use by 2025, the FEL aims to ensure transparency and comparability, helping passengers make informed decisions and encouraging airlines to invest in cleaner fuels and more efficient aircraft.

A Greener Future with Generative AI

As climate change pressures businesses to reduce their environmental impact, IT plays a critical role. Generative AI offers new opportunities for sustainable IT operations, but its impact depends on how organizations use it. Companies embracing sustainability by design and optimizing cloud and automation are leading the way toward a greener IT future.

Mental Health Now Seen as Top Health Concern Globally

According to Ipsos' 2024 Health Service Report , mental health is now the biggest global health concern, with 45% of respondents across 31 countries identifying it as a top issue, compared to 27% in 2018. Despite 44% rating healthcare quality positively, major challenges include limited access to treatment and staff shortages.

Campaigns and Initiatives Roundup:

Hello Kitty Transforms Into Algae for 2025 Osaka-Kansai Expo

At the 2025 Osaka-Kansai Expo , Hello Kitty will be reimagined as 32 different types of algae at the Japan Pavilion. This exhibit will showcase algae’s potential to address global issues, highlighting its applications in biofuels, plastics, and food, while combining entertainment with sustainability education.

DyslexicU Launches Free Courses to Highlight Dyslexic Thinking

DyslexicU, a new UK initiative by Made By Dyslexia and The Open University, offers free courses to showcase the strengths of dyslexic thinking, such as lateral thinking and innovation. These courses aim to help both dyslexic and non-dyslexic individuals develop essential skills for the future workforce.

BBVA Uses Wearable Tech to Improve Employee Sleep

Spanish bank BBVA has launched "Atrando tu sue?o ," a program that uses wearable technology to track the sleep patterns of 100 employees. By analyzing data on sleep quality and circadian rhythms, participants receive personalized reports and expert recommendations, building on the success of BBVA's earlier sleep initiatives.

ASICS and Brian Cox Urge Employees to Prioritize Mental Health with 'Desk Break' Initiative

ASICS has teamed up with Brian Cox to encourage office workers to take short movement breaks for their mental health . The campaign highlights the negative impact of prolonged sedentary behavior on mental wellbeing, offering a 15-minute 'Desk Break Clause' to support employee movement during the day. ASICS aims to promote both physical and mental health through this initiative.

Woolmark Warns of Fast Fashion’s 'Zombie Apocalypse' in New Campaign

Woolmark's latest PSA, Wear Wool, Not Waste , highlights the environmental benefits of wool, showcasing its natural, renewable, and biodegradable qualities. The campaign, featuring a film about a 'zombie invasion' of synthetic clothes, urges consumers and the fashion industry to choose sustainable fibres like Merino wool, as legislative changes aim to reduce throwaway fashion culture driven by cheap, synthetic materials.