SpeedRead Sustainability #1: Weekly Highlights

Explore recent sustainability updates, trends, business spotlights, and insights in this edition, showcasing advancements and innovative solutions for people and the planet.

Top Story:

European Court Labels Climate Inaction as Human Rights Violation

• The European Court of Human Rights ruled that neglecting to protect citizens from climate change breaches their rights to private and family life. This landmark decision underscores the urgency for European nations to meet their environmental targets and highlights a growing trend in human rights-based climate litigation.

Business Spotlight:

Extreme E and EY Release Season 3 Sustainability Report

• Extreme E , in collaboration with EY, has released its Season 3 Sustainability Report, highlighting an 8.2% decrease in its carbon footprint and a significant narrowing of the gender performance gap in racing.

Dr. Martens Embraces Sustainability with Innovative ReWair Platform

• Dr. Martens plc is tackling the environmental and 'ick' factors of second-hand footwear with its new ReWair platform, utilizing liquified CO2 to refurbish vintage boots to near-new condition.

Apple to Use Pre-Owned Parts in Repairs to Minimize Waste

• 苹果 le is updating its repair practices to include the use of pre-owned parts, beginning with select iPhone models this fall. This change aims to reduce the environmental impact of repairs and address the growing problem of electronic waste.

BRITA Partners with LTA to Eliminate Single-Use Plastic Bottles in Tennis

• BRITA has become the official water partner of the LTA , marking a significant step towards sustainability in British tennis. This partnership aims to remove all single-use plastic bottles from major UK tennis events by providing BRITA water dispensers and refillable bottles at venues.

Shopify Advances Climate Action with $55.7M Invested in Carbon Removal

• Shopify has committed over $55 million to carbon removal technologies through its Sustainability Fund, advancing its goal to combat climate change. With investments across 39 suppliers and a total of 84.4k tonnes of durable carbon removal achieved, Shopify is actively fostering the growth of this emerging market.

California Startup Innovates to Reduce Cement's Carbon Footprint

• Fortera, a California startup, has developed a technology to address the cement industry's significant carbon footprint, which accounts for approximately 8% of global emissions. Their process captures carbon dioxide directly from cement kiln exhausts and reuses it in new cement production. This method, debuting in a commercial facility in Redding, California, could potentially cut emissions by up to 70%.

Trends & Insights:

SBTi Approves Use of Carbon Offsets for Scope 3 Emissions Abatement

• The Science Based Targets initiative (SBTi) has announced a policy shift allowing companies to use environmental attribute certificates, including carbon offsets, to address certain Scope 3 emissions. This decision, part of a broader update to the Corporate Net Zero Standard, aims to accelerate decarbonization efforts across value chains while companies continue to innovate and reduce emissions at the source.

Secondhand Clothing Set to Capture 10% of Global Fashion Market

• Driven by economic pressures and sustainability concerns, secondhand clothing sales are poised to claim 10% of the global fashion market. According to a GlobalData report for ThredUp, pre-owned garment sales grew by 18% last year, reaching $197 billion, with projections to hit $350 billion by 2028.

80% of Global Investors Implement Sustainable Investment Policies

• According to a recent Deloitte and Fletcher School study, 80% of global investors now have sustainable investment policies, marking a significant increase from 20% five years ago. This surge reflects a growing focus on minimizing sustainability-related risks and capitalizing on opportunities.

Global Climate Litigation Surges, Influencing Policy and Corporate Actions

• The number of climate lawsuits has surged to over 2,500 globally, targeting governments and corporations for inadequate climate action. Landmark cases, such as the Urgenda lawsuit and a recent European Court of Human Rights ruling, have been pivotal in pressing for stricter climate policies. These

Record Coral Bleaching Strikes the Great Barrier Reef

• The Great Barrier Reef is undergoing its most severe coral bleaching event ever recorded, with damage extending up to 18 meters below the surface. Over half of the surveyed reefs show high levels of bleaching, as marine temperatures rise significantly.

Reducing Waste in Aquatic Foods

• Nearly 15% of all fish and seafood produced annually ends up wasted, according to a new World Economic Forum report. Major sources of this loss include on-land processing and discards from wild-capture fishing.

Campaigns and Initiatives Roundup:

Sky Broadband and Guild Esports Launch Women’s Tournaments to Close Gender Gap

• Sky Broadband and Guild Gaming are hosting a series of women’s esports tournaments to promote diversity and inclusion. These competitions address the significant gender disparity in esports, where women make up 47% of gamers but only 5% of professionals.

W23 Global Launches as First Retailer-Led Venture Fund Focused on Sustainability

• W23 Global , a collaborative $125 million grocery VC fund established by leading global retailers, aims to drive technological innovations enhancing customer experiences and productivity in the grocery sector while addressing sustainability challenges.

Skyscrapers Go Dark to Protect Migrating Birds

• Texas is turning off skyscraper lights to safeguard billions of birds that migrate through the state each spring and fall. The decision comes after incidents like the 2017 Galveston event where 395 migratory birds died from building collisions.

#sustainability?#sustainable?#business?#esg?#climatechange?#climateaction?#sdgs #impact