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'Existential crisis’ at SBTi inflames rift over future of net-zero organization - Greenbiz (Apr 12) |
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Apr 12 · Staff “deeply concerned” over board’s new policy allowing carbon offsets for net-zero goals.
Image by GreenBiz/Sophia Davirro
A controversial and vague new Science Based Targets initiative policy that would let corporations count carbon offsets toward Scope 3 emissions reductions surprised the climate community when it was announced April 9 - including the organization’s own staff, who claim the situation has "damaged the trust of critical stakeholders."
A letter circulated by "a majority" of SBTi staff criticized the plan and the way it was disclosed, saying it "undermined" the organization’s governance procedures. The board does not hold sole decision-making ... | By Heather Clancy Read more ...
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3 employee-focused tactics for advancing sustainability goals - Greenbiz (Apr 15) |
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Apr 15 · Sponsored: Empowering employees to champion sustainability initiatives requires a culture where sustainability is ingrained in everyday operations.
A warm embrace between two Sodexo colleagues. Image courtesy of Sodexo.
This article is sponsored by Sodexo.
Employees form the backbone of most organizations - and what they do or don’t do affects progress toward sustainability milestones. Engaging employees on sustainability is an opportunity that organizations must embrace if they hope to succeed with sustainability goals and climate-conscious initiatives.
Organizations of all sizes can bridge the gap between corporate goals and individual actions by ... | By Katherine Walker Read more ...
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A new chapter for transport decarbonization awaits - Greenbiz (Apr 16) |
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Apr 16 · A look at the state of sustainable transportation in 2024 and beyond.
I joined GreenBiz in May 2022 - a decision that profoundly changed my perspective on transport decarbonization. In my role as the director of transportation, I sat at the intersection of many subsectors within transport, able to survey the industry across on-road vehicles and electrification, aviation, maritime shipping and freight rail.
From this vantage point, it has been a privilege to learn from those leading the efforts to decarbonize transportation and share my learnings with you. Sadly, all good things must end as I have already stepped into a new role in the EV industry. My final piece explores ... | By Vartan Badalian Read more ...
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Al Gore's policy checklist for reaching net zero - Greenbiz (Apr 16) |
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Apr 16 · The former vice president spoke to GreenBiz at a Climate Reality roundtable in New York City.
Al Gore speaks in New York City at the 55th Climate Reality Project Leadership Corps training in April 2024. (Credit: Climate Reality Project)
Companies have the power to reach “true net zero” by midcentury, according to former vice president Al Gore, if they “stop using the sky as an open sewer. We've got to get to true net zero, and then we will solve this crisis.”
Gore, who since his controversial defeat in the 2000 presidential election has chaired the ESG-focused Generation Investment Management firm that he co-founded, sat on Apple’s board for two decades and advised ... | By Leah Garden & Elsa Wenzel Read more ...
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Automakers are vastly underestimating their emissions. Here's what to do about it - Greenbiz (Apr 16) |
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Apr 16 · The auto industry lags behind on both emissions reporting and net zero targets. Here’s what they can do to get on track.
More than 90 percent of automakers' GHG emissions come from Scope 3 -- i.e., buyers driving their cars. Source: Mykhailo Pavlenko via Shutterstock
With the advent of policies such as the European Union’s corporate sustainability reporting directive (CSRD), set to be phased in over a four-year period beginning in 2025, businesses across all industries are preparing to report on their emissions as never before. A crucial pillar of such policies is the normalization of reporting on Scope 3 emissions - those not directly linked to a company’s ... | By Tom Howarth Read more ...
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Cutting carbon by 'electrifying everything’ - Greenbiz (Apr 21) |
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Apr 21 · Sponsored: Electrifying infrastructure is an investment in the future. From buildings to vehicles, electrification can be done with technology we have right now.
Siemens collaborates with Ford on customized electric vehicle charger for All-Electric F-150 Lightning Retail customers. Image courtesy of Siemens.
Siemens.
Across the United States, we are witnessing the transition to the "electrification of everything" to support the decarbonization of our environment. The technology to accomplish a fully electric transformation is already available - from electrifying buildings and vehicles to navigating the impact to the grid. But if we are going to address climate ... | By Matt Helgeson Read more ...
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Demystifying low carbon steel manufacturing - Greenbiz (Apr 17) |
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Apr 17 · Sponsored: The challenge of decarbonizing heavy industry is significant. But “hard-to-abate” can be conquered with the right mix of approaches - and mindset.
Steel coils at U. S. Steel’s Big River Steel facility in Osceoloa, Arkansas. Image courtesy of U. S. Steel.
This article is sponsored by U. S. Steel.
When I worked at Dell, I often felt I was on the front line of making an essential industry more sustainable. During my tenure of over a decade, we collaborated across functions to increase the percentage of recycled materials in our products, boost our recovery of used electronics and transition our production capability to rely more on renewable energy. But ... | By Erika Chan Read more ...
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Future-proof your supply chain with sustainable innovation - Greenbiz (Apr 16) |
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Apr 16 · Sponsored: Discover innovative strategies to reduce supply chain-related emissions and build a more sustainable and resilient energy future.
This article is sponsored by Prologis.
In the coming decades as the world electrifies to decarbonize, global energy demand will surge. Businesses must manage today’s pressures on their operations - such as geopolitical tension and labor disruptions - while investing in future-focused solutions such as renewable energy, electric vehicles and automation alongside artificial intelligence. To find the balance, leaders want to know what they can do to improve their efficiency today while planning for a sustainable tomorrow.
As the ... | By John Hoekstra & Will O'Donnell Read more ...
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Here’s how Apple has cut its emissions 55% since 2015 - Greenbiz (Apr 18) |
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Apr 18 · The company aims for a 75 percent reduction by 2030.
Apple suppliers sourced approximately 25.5 million megawatt-hours of clean electricity in fiscal year 2023, which avoided more than 18.5 million metric tons of greenhouse gas emissions. Source: Apple
Apple has reduced its greenhouse gas emissions by 55 percent since 2015, an achievement made possible largely because of its successful work to convince manufacturing partners to use renewable energy for Apple-related production.
For 2015, its baseline year, Apple reported 38.4 million metric tons of carbon dioxide equivalent across Scopes 1-3. That number is now 16.1 million metric tons of emissions, according to ... | By Heather Clancy Read more ...
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How Dr. Martens got past the ick factor of second-hand shoes - Greenbiz (Apr 11) |
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Apr 11 · The footwear brand’s logistics partner uses liquified CO2 to make vintage boots as good as new.
A pair of unisex Doc Martens "combat boots". Credit: Shutterstock/dnaveh
Would you pay $160 for used shoes?
Dr. Martens has discovered that if it’s a pair of vintage leopard-hair boots originally priced at $280 and no longer available in stores, then the answer is yes. Nearly one-third of its customers have bought its footwear secondhand, Dr. Martens says.
The bootmaker is helping customers get over the ick factor of second-hand shoes with a new website, launched last month. The ReWair store opened in the U.S. in late March, following success with a resale pilot on ... | By Elsa Wenzel Read more ...
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How SBTi’s shift on Scope 3 rules will affect carbon markets - Greenbiz (Apr 18) |
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Apr 18 · 4 possible outcomes of the proposed flexibility on carbon credits.
At the heart of the debate lies a fundamental question about how to advance global decarbonization. Source: metamorworks via Shutterstock
On April 9, the board of trustees of the Science Based Targets initiative (SBTi) announced forthcoming updates to its net zero standard, proposing to allow the use of some environmental attribute certificates (EACs), including carbon credits, towards Scope 3 abatement. Since then, climate watchdogs both within and beyond SBTi have hotly debated whether the new flexibility will maintain best practices in corporate climate action. At the heart of the debate is the role of ... | By Margaret Morales Read more ...
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Introducing GreenBiz's 2024 Climate Policy Heroes - Greenbiz (Apr 10) |
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Apr 10 · The inaugural list of changemakers making tangible impacts on climate policy.
Graphics by Sophia Davirro and Julia Vann/GreenBiz
The leaders adapting and mitigating the impacts of climate change are as far away as the corridors of Washington, D.C., and as close as your local town hall.
The GreenBiz 2024 Climate Policy Heroes list highlights 15 of these leaders doing vital work to confront the climate crisis at the state, federal and local levels. Each honoree was nominated by their peers for their commitment and their tangible achievements, and each has carved a path toward transformative, creative and measurable change.
Photo: Lena A. ... | By Leah Garden Read more ...
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One way to get 'transition finance’ flowing: Write a climate transition plan - Greenbiz (Apr 10) |
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Apr 10 · Executives in high-emitting sectors cite a lack of reliable financing as the main obstacle to developing net-zero plans.
Relatively few corporations have published transition plans that detail investments they’re making to support their net-zero targets. It’s hardly surprising, then, that investors are using the 2024 proxy season to demand more information about corporate climate transition plans and how, exactly, they’re being financed.
ESG-focused shareholder proposals relating to greenhouse gas emission reduction goals or climate transition plans are the leading category of filed resolutions so far this year, according to a March 25 analysis by nonprofit ... | By Grant Harrison Read more ...
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Plastics production on the Gulf Coast is exploding. Here’s how to respond - Greenbiz (Apr 15) |
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Apr 15 · Even as the world suffers a plastics glut, petrochemical companies are prolonging the 'plasticene era.'
The Gulf Coast petrochemical industry, one of the most polluting industry complexes on Earth, has expanded in response to low natural gas prices. Source: Roschetzky Photography via Shutterstock
The Gulf Coast petrochemical industry has big expansion plans for plastics production that threaten to undermine corporate efforts to reduce plastics use and waste as well as the international negotiations for the Global Global Plastics Treaty that will continue this month in Ottawa.
The looming plastics boom raises questions for sustainability professionals ... | By Meg Wilcox Read more ...
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Read the leaked protest letter from SBTi staff angry over new carbon offset policy - Greenbiz (Apr 11) |
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Apr 11 · Letter claims the board “undermined” governance process in disclosing revised stance
Staff members of the Science Based Targets initiative are circulating a letter deeply critical of a board statement issued earlier this week disclosing the standards-setting group’s intention to let companies count carbon credits and other "environmental attribute certificates" toward net-zero targets.
SBTi does not currently allow companies to include carbon credits, because it’s difficult to trace and count their impact.
The controversial shift was announced without consulting the SBTi Technical Council, an independent body tasked with reviewing and approving standards. While it ... | By Heather Clancy Read more ...
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Reports: SBTi faces internal revolt over plans to relax rules on use of carbon offsets - Greenbiz (Apr 11) |
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Apr 11 · Staff at the influential nonprofit are calling for the CEO's resignation after a controversial move to consult on changes to the net-zero standard, according to a Reuters report.
The Science Based Targets Initiative (SBTi) has reportedly been thrown into "turmoil," after a number of staff responded angrily to news this week the group could revise its guidance to corporates to allow greater use of carbon offsets to meet net-zero targets.
News agency Reuters reported it had seen a letter sent by a group of staff at the London-based nonprofit to the SBTi's board of trustees and CEO, which accuses the organization's leadership of inflicting "grave reputational damage" ... | By James Murray Read more ...
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Salesforce to lobby for new rules on AI’s environmental impact - Greenbiz (Apr 22) |
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Apr 22 · Computing uses up to 3 percent of global power consumption and AI could triple that, the company believes.
The Salesforce Tower in New York City. Image via Shutterstock/Arnett Murry
Salesforce will begin lobbying for new regulations requiring companies to disclose emissions data and efficiency standards for artificial intelligence.
The company announced the move Monday as part of its new "Sustainable AI Policy Priorities." It has previously published positions on ethics and equity related to AI, as have other big tech companies including Amazon, Google and Microsoft.
Salesforce’s new policy comes amid growing concern over the amount of electricity required to ... | By Heather Clancy Read more ...
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SBTI urges automakers to stop making gas and diesel cars by 2035 - Greenbiz (Apr 9) |
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Apr 9 · It’s the first time the organization has addressed the biggest source of emissions associated with cars - the customers who drive them.
Image by GreenBiz/Sophia Davirro
The Science Based Targets initiative is calling on automakers to stop producing new gas- or diesel-powered cars and vans for major economies by 2035.
The push is part of an update to the organization’s "Land Transport Guidance," disclosed the same day the U.S. Environmental Protection Agency finalized tougher national pollution standards for new passenger cars, scheduled to take effect for new models starting in 2027.
SBTi was created a decade ago to help corporations set emissions reduction ... | By Heather Clancy Read more ...
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SBTi: Yes, companies can use carbon offsets to abate certain Scope 3 emissions - Greenbiz (Apr 10) |
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Apr 10 · Draft guidelines for the new policy, which will inform a revised Corporate Net Zero Standard, will be published in July.
The Science Based Targets will allow companies to use "environmental attribute certificates" - a category of carbon accounting mechanisms that includes carbon offsets and renewable energy certificates - to abate certain Scope 3 emissions.
The move, announced in an April 9 statement by the organization’s board of trustees, is a shift from the organization’s stance of requiring proposed emissions cuts for science-based targets to be directly tied to a company’s operations or its supply chain partners.
The news comes amid big changes at SBTi, ... | By Heather Clancy Read more ...
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Scaling the value hill: How to incorporate circular economy practices into the building sector - Greenbiz (Apr 17) |
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Apr 17 · The business opportunity to convert building sector waste into valuable resources promises hundreds of billions of net profit gains.
The French firm Saint-Gobain has become a leader in applying circular economy practices in the building sector. Source: Jean Lucichard via Shutterstock
More than 90 percent of all materials extracted and used in industrial processes are wasted, according to the World Green Building Council. The business opportunity to convert that waste into valuable resources is huge. Applying the circular economy to the building sector, for example, has "the potential to yield an annual net profit gain of $31-46 billion by 2030 and $234-360 billion by ... | By James Ball Read more ...
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Steeper corporate emissions cuts needed by 2030 to keep Paris Agreement alive, analysis finds - Greenbiz (Apr 9) |
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Apr 9 · Standalone renewable energy certificates, carbon removals and bioenergy undercut corporate claims, researchers suggest.
The emissions reductions planned by 51 of the world’s largest companies are ambitious but still fall short of the cuts needed to meet the goals of the Paris Agreement, according to a new analysis of net-zero pledges.
The companies studied - which self-reported 8.8 gigatons of greenhouse gases in 2022, or about 16 percent of global emissions - are aiming for a median cut of about 30 percent by 2030 across their own operations and those of their supply chain, according to the 2024 Corporate Climate Responsibility Monitor.
That’s far short of the ... | By Heather Clancy Read more ...
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Supreme Court: Companies can’t be sued for not disclosing climate risk - Greenbiz (Apr 18) |
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Apr 18 · As the SEC struggles to enforce new corporate climate disclosures, the high court grants companies even more wiggle room.
A judge's gavel. Photo: Shutterstock/Atthapon Niyom
The U.S. Supreme Court unanimously ruled shareholders cannot sue companies for securities fraud when they fail to disclose information about future risks, unless the omission made their statements deliberately misleading.
The decision benefits companies by allowing them more leeway to pick and choose what they disclose to investors. If a company is silent about a risk it faces, it cannot be sued, the court said. But if a company makes a statement that is misleading because it omits information ... | By Leah Garden Read more ...
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The week in climate policy: 4 updates you need to know - Greenbiz (Apr 19) |
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Apr 19 · Permitting reform holds up renewable energy transmission in the West; the EU is getting serious about ocean conservation.
A fish swimming next to plastic pollution in the ocean. Photo: Shutterstock/Rich Carey
[Continue the conversation on climate policy at Circularity 24 (May 22-24, Chicago), the leading conference for professionals building the circular economy.] | By Leah Garden Read more ...
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This week in climate policy: 3 federal briefings to watch - Greenbiz (Apr 15) |
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Apr 15 · The political and commercial outlook for ocean CO2 removal.
An aerial view of the Pentagon. Photo: Shutterstock/Jeremy Christensen
Tuesday, April 16: A briefing by the Environmental and Energy Study Institute and World Resource Institute will cover "Demystifying Ocean Carbon Dioxide Removal." Panelists participating will address the current state of CO2 removal, the policy landscape and the importance of responsible scaling.
Tuesday, April 16: The House Armed Services Committee will hold a hearing to examine the 2025 Fiscal Budget Request for Department of Defense’s Energy, Installations, and Environment Programs. While details regarding the hearing haven’t been ... | By Leah Garden Read more ...
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What ESG investors need to know about 'systems-level investing’ - Greenbiz (Apr 17) |
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Apr 17 · ESG can measure risks to cash flows, but 'systems-level investing’ offers a more complete view of where corporations might be vulnerable over the long term.
ESG analysis helps investors consider how environmental, social and governance factors could affect long-term corporate value.
For large, institutional investors such as asset managers or pension funds, which own a slice of the entire economy and can’t diversify away from system-wide risks, that may not be enough. That’s why more are leaning into "systems-level investing," an approach that aims to generate superior long-term, risk-adjusted returns by studying the complex systems that drive economic and financial ... | By Grant Harrison Read more ...
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