Author: James Hannay

Revisions to the Science-Based Target Initiatives Corporate Net-Zero Standard will allow for an increased role for carbon credits in corporate net zero strategies. Established in 2015, the Science Based Targets initiative (SBTi) promotes science-based environmental target setting as a common practice for companies. Its approach aims to enable businesses to define greenhouse gas (GHG) emission reduction targets which are aligned with limiting global warming and achieving net zero emissions by 2050 or sooner. The SBTi, who partners with organisations like CDP, the UN Global Compact, and WWF, launched its first framework in 2021, the Corporate Net-Zero Standard. The guidelines offer…

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Most companies continue to fall short of the economy-wide emission reductions required to limit global warming to below 1.5 °C, study finds. This is the message of the latest report by the NewClimate Institute and Carbon Market Watch, which looks to evaluate the transparency and integrity of climate pledges of major companies across different sectors and geographies. Now in its third iteration, the Corporate Climate Responsibility Monitor (CCRM) assessed the climate strategies of 51 companies to determine their alignment with the ambitious climate goals needed to limit global warming to 1.5 °C by 2050.  According to the report, there is…

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ESG

The European Securities and Markets Authority (ESMA) is seeking public feedback on proposals to enhance the consideration of environmental, social, and governance (ESG) factors within credit ratings. The consultation, which opened yesterday (2 April) aims to ensure these ESG considerations are systematically integrated into credit rating methodologies and clearly communicated to investors. According to the ESMA, the proposals aim to “deliver a more robust and transparent credit rating process through the consistent application of credit rating methodologies.” ESMA recommends requiring credit rating agencies to document their use of ESG factors and enhance the disclosure of these factors in both credit…

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UK organisations are feeling overwhelmed by the strain of sustainability reporting, with ‘legislation lethargy’ on the rise as they tackle the labyrinth of new and existing reporting legislation. Commissioned by facilities management firm Mitie and carried out by Opinium, the research surveyed 500 sustainability decision makers from organisations around the UK to understand how businesses are feeling following growing reporting legislation. The findings suggest that complexity may be hindering effective reporting, with over half (55%) of respondents considering current sustainability reporting requirements overly complicated. This confusion is translating into uncertainty, with nearly two-fifths (38%) unsure about the specific content required…

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Major technology companies Google and Microsoft, along with steel producer Nucor, announced a collaboration to develop new business models for clean electricity technologies. The initiative aims to address challenges faced by emerging technologies like advanced nuclear, next-generation geothermal, clean hydrogen, and long-duration energy storage which the International Energy Agency (IEA) says are necessary to cost-effectively decarbonise grids and help the world meet its growing electricity demand with carbon-free energy sources. Whilst these technologies are considered crucial for achieving carbon-free electricity grids, they often struggle to secure financing due to their novelty and associated risks that come with them. By aggregating…

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ESG

88% of institutional investors are more likely to invest in companies that integrate financial and ESG data. Commissioned by reporting compliance platform, Workiva, the 2024 Executive Benchmark on Integrated Reporting examines current perspectives on Environmental, Social, and Governance (ESG) reporting among executives and investors. Partnering with Ascend2, the Workiva survey included responses from 894 C-suite executives and vice presidents across finance and accounting, ESG and sustainability, internal audit, and legal departments. Additionally, 103 institutional investors from the United States, Canada, and Mexico were involved. The results suggest that ESG investing is still considered a critical benchmark for investors, with 88%…

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IBM ESG

Professional services firm EY and technology company IBM announce an expansion of their collaboration to provide environmental, social, and governance (ESG) solutions. The expanded partnership comes in the form of an end-to-end Managed Services solution which is designed to assist businesses accelerate, manage, and report on sustainability initiatives and related business transformations. The announcement comes at a time of an ever evolving regulatory landscape around sustainability reporting. In Europe, the Corporate Sustainability Reporting Directive (CSRD) is calling for businesses to report on more than just their financial performance. Read next: ESG regulation in 2024: Everything you need to know And…

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While International Women’s Day (IWD) has a rich history dating back to 1911, it’s not confined to any one country, group, or organisation. It’s a global day of action and celebration for everyone committed to achieving women’s equality. This year’s official theme for IWD, “Inspire Inclusion,” underscores the imperative of inclusivity in advancing gender parity. It urges the breaking down of barriers, challenging stereotypes, and cultivating environments where the contributions of all women are recognised and valued, especially those from marginalised backgrounds. Furthermore, the United Nations has issued a call to action to “Invest in women: Accelerate progress,” as an…

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The Securities and Exchange Commission (SEC) has announced the adoption of new rules aimed at improving and standardising climate-related disclosures for public companies and in public offerings. These rules, adopted on 6 March, are designed to meet the increasing demand from investors for consistent and reliable information regarding the financial impacts of climate-related risks and follow similar directives from Europe, such as the Corporate Sustainability Reporting Directive (CSRD).  “Our federal securities laws lay out a basic bargain. Investors get to decide which risks they want to take so long as companies raising money from the public make what President Franklin…

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Amazon is funding cutting-edge AI and robotics technology aimed at minimising landfill waste and boosting the utilisation of recycled materials in packaging. San Francisco-based startup, Glacier, is the latest recipient of investment and employs AI-powered robots to automate the sorting of recyclables and collect real-time data on recycling streams for recycling companies and consumer brands.  Founded in 2019, Glacier says it focuses on developing affordable and effective robotic solutions for the recycling industry, claiming its process can be up to 60% more affordable than its competitors. Glacier’s AI model reportedly distinguishes over 30 recyclable material types, ranging from broad categories…

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