Most recent 40 articles: Greenbiz
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How Patagonia and Seventh Generation include banks in their climate action plans - Greenbiz  (Mar 27) |
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Mar 27 · Corporate cash deposits are a huge source of carbon emissions, and sustainability leaders need to engage their bankers. Most companies don’t report the "hidden" carbon emissions generated by how their corporate cash deposits are invested, but it’s larger than many realize. If Apple, Google and Salesforce included that data in their disclosures, their total emissions would rise by 128 percent, 207 percent and 206 percent, respectively, according to an analysis published this week by a group of NGOs. Their analysis found that non-financial companies in the United States cumulatively hold $7 trillion in cash and investments. The cumulative emissions enabled by those ... | By Grant Harrison Read more ... |
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Lego invests $2.4 million in direct-air capture carbon removal - Greenbiz  (Mar 26) |
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Mar 26 · Toymaker signs 9-year deal with Climeworks of Switzerland. Lego is experimenting with more than 600 materials to replace petroleum-derived plastic, including arMABS made from a type of recycled artificial marble typically found in kitchens. Source: Lego Group Lego Group plans to double its annual spending on emissions reduction and sustainability measures between 2023 and 2025, investing a total of $1.4 billion over the period. The Danish company this week committed a small portion of that money to a $2.4 million carbon removal contract with Climeworks, which makes technology that filters carbon dioxide emissions out of the air. The family-owned holding company ... | By Heather Clancy Read more ... |
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Why H&M is turning away from polyester recycled from bottles - Greenbiz  (Mar 26) |
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Mar 26 · The fashion industry has found a circular solution to its textile recycling problem. Spools of polyester yarn. Credit: Shutterstock/RecycleMan H&M’s new deal to buy $600 million of "circular" polyester over seven years from Syre, a Swedish startup it co-founded, underlines one of fashion’s dirty secrets: Making new polyester from recycled bottles sounds environmentally friendly but, in reality, polyester is a huge source of pollution. And recycling bottles to make more polyester might be worse than the alternative - keeping the bottles in the beverage industry where they can be recycled. Now some fashion companies are moving toward circular, textile-to-textile ... | By Elsa Wenzel Read more ... |
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Amazon, Google and Microsoft signal growing interest in nuclear, geothermal power - Greenbiz  (Mar 25) |
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Mar 25 · Rising demand from artificial intelligence is forcing big technology companies to look beyond wind and solar for clean energy. An illustration of a data center at a Talen Energy site in Pennsylvania. Credit: Talen Energy The push to commercialize artificial intelligence is swelling the electricity demands of the three biggest cloud computing companies - Amazon, Google and Microsoft - and they’re looking for carbon-free energy, including nuclear and geothermal, to reduce the greenhouse gas emissions from that growth. In mid-March, Talen Energy announced a $650 million deal with Amazon Web Services to sell a data center powered by one of the largest U.S. nuclear ... | By Heather Clancy Read more ... |
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Dispatch from London: How corporate sustainability will change in 2024 - Greenbiz  (Mar 25) |
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Mar 25 · On the near-term horizon: Artificial intelligence, nature and biodiversity risks, and a muting of ambitious public climate goals. For more than a year, European sustainability executives have been focused on how they would comply with the Corporate Sustainability Reporting Directive (CSRD), the EU regulation requiring third-party assured disclosures of climate targets, greenhouse gas emissions, governance and more. Now, as CSRD goes into effect for the reporting year starting in January, they’re illuminating ways regulation is already changing corporate sustainability. Last week I talked with 20 Europe- and U.K.-based sustainability leads from some of the world’s biggest ... | By Dylan Siegler Read more ... |
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Why Bayer and the Gates Foundation are using CRISPR to reduce food's climate impact - Greenbiz  (Mar 25) |
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Mar 25 · Gene editing technology can help create the next generation of climate-resistant crops. Mustard greens at a market. Credit: Shutterstock/Lanywati CRISPR gene editing technology is beginning to deliver on a promise to quickly create crops with traits that withstand a changing climate, resist aggressive pests and reinvigorate healthy soils, according to experts at the South by Southwest event in Austin earlier this month. Companies exploring CRISPR to make climate-friendly foods and medicines are enjoying some tailwinds: At the same time, startups and researchers are taking on investment partnerships with larger organizations to commercialize CRISPR ... | By Jesse Klein Read more ... |
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Unilever threatens to quit trade associations that block climate policy - Greenbiz  (Mar 21) |
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Mar 21 · The company says it will cut ties with groups that obstruct progress on Paris Agreement net-zero goals. "We want our associations to be catalysts for positive policy change, and if they can’t, then we reserve the right to withdraw our membership fees." Rebecca Marmot, Unilever CSO Unilever is threatening to walk away from any trade association that doesn’t align its policy positions with the Paris Agreement goal of keeping global temperature increases below 1.5 degrees Celsius. The London-based consumer products company in early March published a detailed assessment of 27 of the more than 600 organizations of which it is a member. The groups - ranging from the ... | By Heather Clancy Read more ... |
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Why Bain is going beyond net zero - Greenbiz  (Mar 21) |
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Mar 21 · One of the world’s largest consulting firms is the first company to set a Carbon Integrity Platinum Claim for reductions of current and ongoing greenhouse gas emissions. Setting a Carbon Integrity Claim for reductions of ongoing emissions will add rigor to Bain's climate strategy, help fulfill client expectations and meet employees' desires for near-term emissions reductions. Source: Tada Images via Shutterstock Bain and Company, one of the world’s largest consulting firms, is the first company to set a Carbon Integrity Platinum Claim, going beyond its existing net zero commitment. The new Carbon Integrity Claims framework, established by the Voluntary Carbon ... | By Margaret Morales Read more ... |
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Newly announced EPA tailpipe emissions rules: What you need to know - Greenbiz  (Mar 20) |
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Mar 20 · A tightening of emissions standards is expected to create an EV boom in the next 10 years. The Environmental Protection Agency (EPA) announced new tailpipe emissions regulations Wednesday. The rules aim to cut down current emissions by up to 50 percent, while increasing the long-term viability of the EV and hybrid vehicle marketplace. First proposed by the EPA in April 2023, the "Multi Pollutant Emissions Standards for Model Years 2027 and Later Light-Duty and Medium Duty Vehicles" build upon existing smog-forming pollution, soot and carbon dioxide emissions regulations that originally impacted cars and light trucks for model years 2023 to 2026. The new, ... | By Leah Garden Read more ... |
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What the SEC's climate rule means for IPOs - Greenbiz  (Mar 20) |
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Mar 20 · Emerging growth companies are subject to new climate risk and emissions disclosure rules, although they have longer to comply than bigger businesses. While many large public companies have been bracing for the U.S. Securities and Exchange Commission's new rule on emissions and climate risk disclosure, smaller companies looking to go public are less likely to have the systems in place to comply with the rule. The SEC’s long-awaited climate disclosure rule requires publicly listed U.S. companies to disclose Scope 1 and 2 emissions considered material to their business starting in 2026. The largest of them will need to have those disclosures assured starting with fiscal ... | By Nico McCrossan Read more ... |
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How BMW is designing EVs: A case study - Greenbiz  (Mar 19) |
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Mar 19 · In an interview, BMW North America's director of sustainability breaks down the importance of circularity in EV design and manufacturing. The BMW i5's body consists of secondary aluminum; its carpets are made from recycled fishing nets. Source: Shutterstock/Kittyfly As I noted in December, 2024 is the year of circularity and manufacturing decarbonization for the automotive industry. Simply producing an EV is not the whole picture when it comes to automotive decarbonization, even though new data from Bloomberg highlights that EV life-cycle emissions can be more than 70 percent lower than a gasoline and diesel vehicle when used for roughly 155,000 miles. Some ... | By Vartan Badalian Read more ... |
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How BMW is designing, manufacturing EVs: A case study - Greenbiz  (Mar 19) |
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Mar 19 · In an interview, BMW North America's director of sustainability breaks down the importance of circularity in EV design and manufacturing. The BMW i5's body consists of secondary aluminum; its carpets are made from recycled fishing nets. Source: Shutterstock/Kittyfly As I noted in December, 2024 is the year of circularity and manufacturing decarbonization for the automotive industry. Simply producing an EV is not the whole picture when it comes to automotive decarbonization, even though new data from Bloomberg highlights that EV life-cycle emissions can be more than 70 percent lower than a gasoline and diesel vehicle when used for roughly 155,000 miles. Some ... | By Vartan Badalian Read more ... |
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Seven steps to achieving responsible supply chains - Greenbiz  (Mar 19) |
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Mar 19 · Sponsored: The Accountability Framework offers companies a practical approach to managing nature, climate, and human rights risks. Companies that produce or source agricultural or forestry commodities can use the Accountability Framework to achieve supply chains that are protective of forests, other natural ecosystems, and human rights. Image courtesy of Adobe Stock. This article is sponsored by Accountability Framework initative. With the twin threats of climate change and ecological collapse looming, companies are under increasing pressure to address the impacts of their supply chains on people and the planet. More than ever, today’s consumers, downstream ... | By Jeff Milder Read more ... |
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Why businesses should stop planting trees and start protecting forests - Greenbiz  (Mar 19) |
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Mar 19 · Investing in forest protection is the most effective approach to enhancing forest carbon sequestration and supporting biodiversity. Tree planting pledges have become a near-universal sign of corporate environmental commitment, despite widespread project failures, negative unintended consequences and a lack of accountability. Over 100 companies from 148 countries have pledged to the World Economic Forum’s Trillion Tree campaign. And a recent study found that 98 percent of Fortune 500 companies in France, Switzerland and the United Kingdom have been involved in tree planting projects over the past two decades. Companies cite carbon offsetting, remediation, sustainable ... | By Alex Novarro Read more ... |
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3 key strategies for transforming the beef industry - Greenbiz  (Mar 18) |
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Mar 18 · A growing array of techniques and technologies aims to reduce the supersized environmental footprint of commercial beef production. Changes to what cattle eat, how ranches are operated and the nature of the cattle themselves promise to hasten the process of making beef production more sustainable. Source: Parilov via Shutterstock This is the third in a series of articles on the quest for sustainable beef. For more, read Part 1 and Part 2. As cattle ranchers and the world’s largest purveyors of beef take steps to transform its production, they are relying on a growing toolkit of techniques and technologies that aim to reduce the impact of raising cattle on land and ... | By Joel Makower Read more ... |
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This week in climate policy - Greenbiz  (Mar 18) |
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Mar 18 · In the week ahead, a Senate hearing about PFAS hazardous chemical designations, a House hearing on the DOE’s 2025 budget request, and more. Graphic courtesy of Sophia Davirro Wednesday, March 20: The Senate Committee on Environment and Public Works will hold a hearing about the Environmental Protection Agency’s recently proposed designation of PFAS chemicals as hazardous substances under the Comprehensive Environmental Response, Compensation, and Liability Act. PFAS do not break down easily, leading to pollution in soils and groundwater, eventually accumulating in wildlife. Hearing witnesses include Kate R. Bowers, legislative attorney at the American Law Division, James ... | By Leah Garden Read more ... |
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Unilever takes tougher stance on supply-chain emissions - Greenbiz  (Mar 18) |
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Mar 18 · Company calls for “absolute” reductions across ingredients, agriculture and ice-cream refrigerators. A selection of non-dairy Ben & Jerry's ice cream cartons. Source: Unilever Unilever’s new climate transition plan has a sharper focus on cutting emissions from suppliers in its drive to achieve net-zero status by 2039. The updated strategy showcases Unilever CEO Hein Schumacher’s decision to downplay aspirational commitments and play up operational specifics, such as replacing ingredients and chemicals with a higher environmental impact. "They’ve illustrated a clear path, in simple terms, for how they intend to achieve consequential progress," said Ken Pucker, ... | By Heather Clancy Read more ... |
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How New Balance, Crocs and Target work together on circular shoes - Greenbiz  (Mar 15) |
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Mar 15 · In an industry known for intense competition, a new effort's unique take on advancing circularity includes aligning its work with members’ business goals. The Footwear Collective offers a circular vision for the shoe industry. Credit: Sophia Davirro/GreenBiz Every imaginable combination of sustainability buzzwords - alliance, coalition, green, network - seems to exist as a multistakeholder initiative. But one new initiative, The Footwear Collective (TFC), stands out for its enthusiastic leadership, committed members and intention to inspire other industries. TFC formed in 2023 to unify the footwear industry to combat carbon emissions and promote circular ... | By Kori Goldberg Read more ... |
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Johnson Controls is bringing sustainability from the basement to the boardroom - Greenbiz  (Mar 14) |
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Mar 14 · Making buildings healthier and more sustainable also enhances organizations’ core purposes. Johnson Controls technologies helped Fiserv Forum, the home of the Milwaukee Bucks, healthier and more sustainable while enhancing the fan experience. Source: University of Collage via Shutterstock From its beginnings as a supplier of building thermostats, Johnson Controls has become one of the world’s largest providers of building technology, software and services. In pursuit of its vision to create "a safe, comfortable and sustainable world," it has committed to achieving net zero for Scope 1 and 2 emissions by 2024. Working across healthcare, education, data centers and other ... | By James Ball Read more ... |
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Supermarkets are tackling emissions from their freezer aisles - Greenbiz  (Mar 14) |
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Mar 14 · The effort to solve the HFC refrigerant problem is still in its early days. Here are four things grocers can start doing now. Inside a supermarket run by Aldi, which is among the supermarkets natural refrigerants. Credit: Aldi Snaking through every American supermarket are miles of refrigerator piping, keeping unsold food cold in the fridges of the dairy, meat and frozen food aisles. Those pipes contain some of the most potent global warming chemicals produced by any industry on earth. The hydrofluorocarbons (HFCs) within them are typically between 1,400 and 4,000 times more powerful as greenhouse gasses than carbon dioxide. The pipes are supposed to be ... | By Jesse Klein Read more ... |
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How companies can align 401(k) plans with climate ambitions - Greenbiz  (Mar 13) |
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Mar 13 · Retirement funds are a lifeline for fossil fuel expansion. Here are ways to change that formula through company-sponsored plans. Retirement capital is a financial lifeline for the oil, gas and coal industries - roughly $1 trillion is invested in fossil fuel companies through Americans’ retirement plans. That’s at odds with the interests of future retirees: Most employees want their employer to offer 401(k) investment options that align with the goal of the Paris Agreement to hold global temperature increases below 1.5 degrees Celsius. Companies that want to lead on this can do so, thanks in large part to President Joe Biden’s 2023 veto overturning a Trump-era ... | By Grant Harrison Read more ... |
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Microsoft, P&G, Unilever and Walmart among 239 companies to miss net-zero deadline - Greenbiz  (Mar 13) |
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Mar 13 · A sweeping status update by the Science Based Targets initiative downgrades some big corporate names. The Science Based Targets initiative last week changed the status of 239 companies on the dashboard it uses to track corporate net-zero goals to "commitment removed," underscoring the difficulty corporations have in defining strategies to meet that goal. Microsoft, Procter & Gamble, Unilever and Walmart are among the most prominent corporations now listed as "commitment removed" for net zero by SBTi. They represent more than $4 trillion in market capitalization. All four companies told GreenBiz they are continuing to pursue aggressive emissions-reduction goals. The ... | By Heather Clancy Read more ... |
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What the SEC climate-disclosure rule means for institutional investors - Greenbiz  (Mar 13) |
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Mar 13 · After the SEC vote, institutional investors must learn how to proceed in a new ecosystem. Last week, the Securities and Exchange Commission voted to mandate that public companies disclose climate-related emissions and risks to provide more transparency for current and prospective investors. An important note: Only risks defined as "material" have to be reported, and only companies already disclosing climate-related risks and emissions must continue to do so. Institutional investors - companies or organizations that will invest on behalf of others - were one of the main catalysts to the SEC’s original drafting of the rule. "When we were crafting the proposal the ... | By Leah Garden Read more ... |
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How U.S. tax law is driving higher transport emissions - Greenbiz  (Mar 12) |
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Mar 12 · The tax code incentivizes the purchase of private jets and large SUVs, which is at odds with U.S. climate priorities. U.S. climate action may look different after the 2024 presidential election, especially across transportation decarbonization. While the future of the electric vehicle industry has been a topic of political debate, another transport issue warrants scrutiny: why U.S. tax laws incentivize bad climate decisions. In this edition, we take a closer look at Sections 168 and 179 of the Internal Revenue Code (IRC) and how they are having a negative effect on transport decarbonization. (Note: This is a general overview of the stated IRC sections and should not be ... | By Vartan Badalian Read more ... |
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Billions of 'climate-smart’ USDA funding goes to climate-negative farming: report - Greenbiz  (Mar 11) |
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Mar 11 · Subsidies from USDA’s largest conservation fund are misused, according to the Environmental Working Group. Graphic courtesy of Sophia Davirro The U.S. Department of Agriculture’s (USDA) "climate-smart" programs are often climate-neutral, and in some cases climate-negative, according to a new report. Of $5.5 billion sent to farmers via one of USDA’s main environmental programs between 2017 and 2022, only $1.7 billion - 31 percent - funded practices on the department’s official climate-smart list, according to the Environmental Working Group (EWG). Of the top 10 practices funded by that program in 2023, only two were on the climate-smart list, the non-profit group said. | By Leah Garden Read more ... |
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How to build voter support for sustainability in a polarizing political year - Greenbiz  (Mar 11) |
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Mar 11 · Engaging the electorate on sustainability issues requires authenticity and clear messaging. The 2024 presidential election campaign has already begun. Barring a major change in the health status of the two elderly front-runners, or the legal circumstances of former President Donald Trump, there is no mystery about who will be leading their respective Democratic and Republican tickets. The entire House of Representatives is also up for grabs, as is one-third of the U.S. Senate. Many challenging issues will confront the electorate: reproductive freedom; immigration; inflation and the state of the economy; the Israel/Hamas and Ukraine/Russia conflicts; climate change; and ... | By Terry F. Yosie Read more ... |
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Inside Amazon’s push to switch from plastic to paper mailers - Greenbiz  (Mar 11) |
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Mar 11 · Amazon has cut more than 37,150 metric tons of plastic packaging since 2015, but still uses twice that amount annually. Collage by GreenBiz/Sophia Davirro Over the past decade, Amazon trimmed almost 2 million metric tons of packaging from the boxes it uses to deliver items and in its grocery stores - a stat it touts in its most recent sustainability progress report, issued in summer 2023. Those measures reduced the average weight of packages by 41 percent, the company reported. Amazon’s latest ambition: eliminate extra packaging whenever possible. When a layer of protection is required, it has vowed to replace plastic with recyclable, paper-based ... | By Heather Clancy Read more ... |
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The week ahead in climate policy - Greenbiz  (Mar 11) |
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Mar 11 · A Senate hearing on community economic development; a briefing on tax credits for rural towns; DOE funding for coal communities, and a California assembly hearing on electricity regulations. A stained glass representation of the Seal of California. Image courtesy of Shutterstock/Cheri Alguire Tuesday, March 12: The U.S. Senate Committee on Environment & Public Works will hold a business meeting on a number of bills, including one to amend the Public Works and Economic Development Act, an act that would reauthorize the America’s Conservation Enhancement Act, and one that would establish an Office of Mountains, Deserts, and Plains within the EPA. The public works act would ... | By Leah Garden Read more ... |
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Rural communities mobilize to unlock benefits of federal clean energy investments - Greenbiz  (Mar 7) |
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Mar 7 · Governments and utilities seek to capitalize on massive federal investments in rural power. Laurel Blatchford, Treasury’s chief implementation officer for the Inflation Reduction Act, led a discussion about the 'elective pay' tax credit provision at the Rural Renaissance Roadshow. Groundswell convened rural leaders from across the U.S. at the event in Bentonville, Arkansas, last fall. Source: Groundswell The federal government is placing big bets on the leadership role rural communities will play in building resilient clean energy futures, which should be a call to action for the clean energy and corporate sustainability communities. This was clearly illustrated Feb. 27, ... | By Michelle Moore Read more ... |
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SEC passes new emissions rule: Here’s what you need to know - Greenbiz  (Mar 7) |
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Mar 7 · Companies will be required to report emissions for the first time but get more wiggle room than expected. Graphic courtesy of Sophia Davirro The Securities and Exchange Commission (SEC) voted to enforce a new rule requiring publicly traded companies to disclose their direct greenhouse gas emissions, should the companies deem the information "material" to investors. The SEC had been expected to require that companies also report their indirect emissions but the agency dropped that requirement from the final rule. Additionally, all U.S. companies must disclose how climate change could negatively affect their financial condition, for instance through floods, storms or ... | By Leah Garden Read more ... |
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Amazon is funding a recycling robots startup - Greenbiz  (Mar 6) |
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Mar 6 · Glacier has raised $7.7 million more to build sorting robots that can handle up to 30 types of materials. Glacier robots cost substantially less than other technologies and facilities can see a return on their investment in under a year, according to the startup's co-founders. Image: Glacier Amazon’s climate tech venture fund launched in 2020 with $2 billion to invest with companies developing potential solutions to its emissions reduction and environmental sustainability commitments. On Wednesday, it announced backing for its 25th venture, an early-stage, female-led San Francisco startup called Glacier that makes next-generation, AI-guided recycling robots. The ... | By Heather Clancy Read more ... |
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How 8 corporate buyers are keeping an aging wind farm on the Texas grid - Greenbiz  (Mar 6) |
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Mar 6 · Autodesk, Arrow Electronics and Brooks Running are buying “high impact” RECs through a new energy marketplace created by startup Ever.green. Eight companies committed to buying renewable energy are combining their purchasing dollars to help refurbish a 55-megawatt wind farm in Big Spring, Texas, which would otherwise have been decommissioned. Under the contract, brokered by Seattle-based startup Ever.green, the companies have pledged to buy a portion of the renewable energy certificates (RECs) that will be issued by the Ocotillo Windpower facility over the next five to 10 years. RECs represent one megawatt-hour of renewable electricity and can be traded like carbon credits. | By Heather Clancy Read more ... |
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The hottest new job in sustainability: ESG controller - Greenbiz  (Mar 6) |
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Mar 6 · More Fortune 100 companies are hiring individuals who oversee sustainability disclosures, an emerging new role for many corporations. The title "ESG controller" was virtually non-existent just two years ago. Now there are ESG controllers on the payroll at more than 50 Fortune 100 companies, where they oversee data systems and processes that underpin sustainability-related disclosures to regulatory bodies. The role takes inspiration from financial controllers, who manage financial disclosures such as those required by the Securities and Exchange Commission. "Essentially, I’m responsible for the reporting integrity around all of our ESG disclosures," Mastercard’s ESG ... | By Nico McCrossan Read more ... |
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3 lessons from Aldi’s switch away from HFCs to natural refrigerant - Greenbiz  (Mar 5) |
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Mar 5 · Grocers should prepare for limited access to new technology, supply chain backups and construction scheduling. Among the major retailers phasing out HFCs, Aldi is leading the way. Credit: Aldi In theory, if fridges and air conditioning systems are completely sealed, then the gasses inside them will never affect the earth’s atmosphere. But if they escape, these gasses - hydrofluorocarbons (HFCs) - can be tens of thousands of times more potent than carbon dioxide in their effect on global warming. Escape they do. The average U.S. supermarket leaks up to 25 percent of its refrigerants, according to the Environmental Protection Agency. Refrigeration is responsible for ... | By Jesse Klein Read more ... |
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This week in climate policy: what you need to know - Greenbiz  (Mar 4) |
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Mar 4 · In the week ahead, a Senate hearing about plastic recycling policy, a House hearing on geothermal energy, and more. US Senate Committee on Environment and Public Works hearing room entrance sign. Photo courtesy of Shutterstock/DCStockPhotography Here's what ahead this week in climate policy: Wednesday March 6: The Senate Environment and Public Works Subcommittee will hold a hearing to examine extended producer responsibility (EPR) policies for consumer packaging. EPR policies require producers to contribute the cost attributed to recycling plastic back into the marketplace. Witnesses include Erin Simon, vice president of plastic waste and business at World Wildlife ... | By Leah Garden Read more ... |
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The week in climate policy: 6 updates you need to know - Greenbiz  (Mar 1) |
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Mar 1 · The US House approved a nuclear power bill, and the SEC plans to drop its Scope 3 reporting requirement. Sign at the U.S. Securities and Exchange Commission in Washington, DC. Photo courtesy of Shutterstock/Mark Van Scyoc | By Leah Garden Read more ... |
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