Sustainability Progress Report #12
Ana Maksimovic
corporate sustainability for responsible brands ? outdoor brands ? food & beverage brands ? fractional CSO ? B Corp certification
How is the EU managing its climate stripes?
Legend:?
??? climate change??
?? litigation?
???? regulatory/policy changes?
?? green energy
?? financing??
?? emissions?
?? claim
?? waste
?? decarbonization?
?? transportation?
?? water?
???? labour or human rights
Regulatory talks.
The EU is limiting waste exports and encouraging recycling to combat illicit household waste trafficking. However, less than 12% of EU materials come from recycling, requiring more incentives and a strong European policy to encourage manufacturers to incorporate recycled materials. (to the source) ??????
France, Austria, Finland, France, and the Netherlands propose an amendment to the Waste Framework Directive, requiring producer responsibility organisations to use EPR fee modulations for clothing companies. (to the source) ??????
The EU companies are not ready for CSRD - a study shows 84% of Europe-based corporations and 82% of regional investors are unsure about complying with the Corporate Sustainability Reporting and Due Diligence Directives, and 74% are not fully mature in environmental, social impact, or governance matters. (to the source) ??????
Industry talks.
Climeworks - who we’ve had a chance to listen to @Outdoor by ISPO this week - launched its Generation 3 direct air capture technology, utilising novel sorbent materials that consume half the energy and last three times longer. This technology aims to reduce capture time by at least two and net removal costs by 50% by 2030. (to the source) ????
Researchers warn that humanity must remove four times as much CO2 from the air by 2050 to limit global warming to 2 degrees. The University of Oxford's report suggests capturing seven to nine billion tonnes of CO2 by 2050. The carbon capture market is growing due to corporate demand for carbon credits, but funding is uncertain. (to the source) ????
The "State Of Carbon Dioxide Removal" report, released this week, assesses the carbon removal industry, identifying scenarios for 2050's removal of 7-9 GtCO2 per year, highlighting the need for new tech and the gap between Paris temperature goals and national proposals. Investments in CDR startups have grown significantly, with 961 investors participating in 803 deals. (to the source) ????
China launched the world's largest solar plant, covering 200.000 acres and generating over 6 billion kilowatt hours annually. China has increased solar power capacity by 50% in 2023 and is expected to install over half of global capacity by 2030. (to the source) ????
Solar panel prices have fallen by half in the past year due to Chinese supply surge, causing European manufacturers to shut down factories and seek policy support. (to the source) ????
Stockholm-based startup Paebbl has mineralized carbon dioxide, turning it into decarbonized raw materials for construction. The company aims to remove 1 billion tons of CO2 annually by 2050, with plans to increase capacity tenfold this year. (to the source) ????
Isometric released its first protocol for durable carbon dioxide removal through Ocean Alkalinity Enhancement (OAE), aiming to accelerate CO2 sequestration in the ocean. The protocol, approved by public consultation and peer reviews, involves human intervention to combat ocean acidification. (to the source) ????
H&M Group is opposing SBTi's plan to use environmental attribute certificates to offset Scope 3 value chain emissions in corporate net zero target setting standard. The company believes the focus should be on absolute emissions reduction within corporate value chains, suggesting science-based targets for beyond value chain mitigation. (to the source) ????
A group of 10 West African countries called the SBTi to include carbon offsets in net-zero guidance for companies, arguing they are crucial for attracting financing for climate and conservation efforts. The lack of certainty in SBTi's guidance is damaging corporate confidence and slowing financing, as it is seen as a key player in global efforts. (to the source) ????
China's Ministry of Ecology and Environment plans to implement a new "carbon footprint management system" in 2027, requiring carbon emissions measurements for around 100 key Chinese economy products. (to the source) ????
Environmental campaigners warn Europe's steel industry may miss ambitious climate targets despite EU government aid pledges, despite €8bn in grants since 2022. (to the source) ????
领英推è
OPEC+ plans to phase out deep oil output cuts in 2025 to stabilise the market amid global demand growth, high interest rates, and rising US production. The group approved crude oil production levels for participating nations, with the UAE receiving a higher quota. (to the source) ????
A Deloitte survey shows that sustainability is becoming a key factor in M&A dealmaking, with over 70% of leaders abandoning potential acquisitions due to ESG concerns. The majority are willing to pay more for targets with strong ESG attributes. Over 90% of respondents have confidence in accurately evaluating potential acquisition targets' ESG profiles, and 83% are willing to pay a premium for high ESG assets. (to the source) ????
A federal court in Australia has ruled that Active Super trustee LGSS Pty Limited violated the law by making misleading ESG investing representations to its members. The ruling follows a suit by the Australian Securities & Investments Commission, which claimed the company invested in securities it claimed to have eliminated or restricted from ESG investment screens from 2021 to 2023. (to the source) ????
The European Securities and Markets Authority emphasised the need to combat greenwashing risks in the financial sector, urging financial market players to provide transparent and non-misleading sustainability information. National competent authorities are taking steps to supervise sustainability claims, but face constraints on resources, expertise, and data access. (to the source) ?????
Abu Dhabi National Oil Company (Adnoc), led by the UN climate summit chair, sought ï¿¡80 billion in fossil fuel deals last year, a fivefold increase from 2022. Adnoc negotiated deals with 12 countries, including the UK, and plans to increase oil and gas output by 42% by 2030. (to the source) ?????
Chinese-made electric vehicle registrations in Europe rose by 23% between January and April 2024, accounting for one in five imported vehicles. The EU's 10% tariff on Chinese imports, along with the US's 100% tariff, has made it a preferred market for Chinese exporters. (to the source) ????
Shell lost a South African court appeal to overturn a previous decision blocking offshore oil exploration on the Wild Coast, allowing them another chance at public consultation and renewal of exploration rights. Environmental groups protested Shell's seismic surveys, arguing they are harmful to marine animals. (to the source) ????
Wholesale natural gas costs in Europe reached their highest levels since December, causing a potential energy bill spike. However, an oil price plunge could provide fuel relief. Brent crude fell over 3% due to speculation of Opec+ countries ramping up exports. Key Norwegian export operations were shut down due to a cracked pipe. Essential bills are set to rise. (to the source) ????
Global talks.
The IEA predicts global clean energy investment will exceed $3 trillion in 2024, with $2 trillion allocated to renewables, electric vehicles, and low-emission fuels, with China leading the way. (to the source) ????
Morningstar identified around 4.300 EU funds with terms related to ESG or sustainability in their names that could fall within the scope of the EU's latest guidelines, which require a minimum of 80% of investments to meet environmental or social characteristics or sustainable investment objectives. (to the source) ????
The UN Secretary General urged countries to ban fossil fuel advertising to combat climate change. He criticised the fossil fuel industries as "godfathers of climate chaos" and called for a "clampdown." Fossil fuel groups have pledged to reduce emissions and suspended investment company sponsorship. (to the source) ????
The Climate Action Tracker finds that most countries with net-zero pledges lack detailed plans on how carbon removals will be involved to reach targets. 28 of the analysed countries account for 80% of global emissions. Eight countries plan engineered removals, costing up to $400 per tonne/CO2, requiring billions of dollars in investment. (to the source) ????
The German Expert Council on Climate Issues predicts that Germany's goal to cut 65% of greenhouse gas emissions by 2030 is unlikely due to challenges in sectors like transport and construction. (to the source) ????
Researchers discovered that floating solar photovoltaic panels could meet all electricity needs in some countries. The study calculated daily output on 68.000 lakes and reservoirs, generating 1302 TWh annually, four times the UK's total annual electricity demand. (to the source) ????
Vermont passed the Climate Superfund Act, allowing the state to retroactively bill fossil fuel companies for damages caused by their emissions between 1995 and 2024, with the treasurer assessing the total cost. (to the source) ??????
Italy and G7 are working on proposals to support clean energy and food security in Africa, including the development of new financial instruments. (to the source) ????
Groundwater, the world's largest unfrozen freshwater reservoir, is expected to warm by 2.1°C between 2000 and 2100, impacting ecosystems, geothermal potential, and health, with 77-188 million people expected to live in affected areas by 2100. (to the source) ??????
The EU's climate change monitoring service reports record-high temperatures in the past 12 months, but the 1.5C global warming threshold remains, indicating more extreme impacts, with an 80% chance of temporary temperature exceeding 1.5C in the next five years.? (to the source) ??????
Grass wildfires near San Francisco have consumed over 14,000 acres, causing injuries and a "reality check" for the upcoming fire season. (to the source) ??????
A small island off Panama's Caribbean coast is preparing to move 300 families to the mainland due to rising sea levels. Governments are forced to take action, similar decisions being forced on Venice and New Zealand. (to the source) ?????
The UN climate department head urged governments to set a new climate finance goal for after 2025, stating it is the "great enabler of climate action." Developed nations have yet to propose numbers, with some developing countries suggesting it comes from developed-country governments, private sector, global taxes, and public purses. (to the source)??? ??
Debt payments by 50 most vulnerable countries to the climate crisis have doubled since the pandemic began, reaching their highest level in over three decades. Countries paying 15.5% of government revenues to external creditors are struggling to tackle the climate emergency due to factors like the debt suspension scheme. (to the source) ??? ??
Africa is grappling with a land squeeze since the 2008 financial crisis, with nearly 1.000 large-scale agricultural deals since 2000. This is driven by "green grabs" and mining, posing threats to climate, sustainability, and biodiversity. (to the source) ???????
At least 85 died in 24 hours in India due to heat stress and related issues, with temperatures reaching unprecedented levels. Odisha, which has been experiencing intense heatwave conditions, reported the maximum number of casualties. (to the source) ???????
Younger employees are putting substantial pressure on their employers to reduce emissions. (to the source) ???????
A survey shows that nearly half of climate and environmental journalists face threats, with 11% facing physical violence. 39% are targeted by illegal activities, while 30% face legal action. ? (to the source) ???????
What are your takeaways for the week? What caught your eye?? What was surprising? Comment below, let's discuss sustainability.