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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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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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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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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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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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'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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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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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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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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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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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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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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How Google closes clean energy deals in as little as 2 months - Greenbiz (Apr 8) |
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Apr 8 · With new standardized contracts, Google aims to scale the amount of 'carbon-free’ energy supplying its data centers.
Google bought more than 1.5 gigawatts of renewable energy over the past 12 months using a streamlined contracting approach that closed deals in as little as two months. Previously, these negotiations often took 10 months to a year.
Google’s new process compresses the usual steps associated with executing power purchase agreements, a type of contract for procuring electricity generated by solar or wind farms.
Google has standardized the process with a contract template that balances risks associated with these sorts of deals between the buyer and ... | By Heather Clancy Read more ...
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This week in climate policy: 4 developments to watch - Greenbiz (Apr 8) |
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Apr 8 · The SEC pauses its corporate climate disclosure rule.
First, an important story to follow. The Securities and Exchange Commission instituted a stay on its climate disclosure rule requiring companies to disclose emissions-related information to provide more transparency for current and prospective investors. The pause is a result of a GOP-led lawsuit, although the SEC clarified that it is temporary and does not indicate an abandonment of the rule.
Wednesday, April 10: The House Financial Services Committee will hold a hearing titled "Beyond Scope: How the SEC’s Climate Rule Threatens American Markets." The Republican led committee will host a former SEC chairman and ... | By Leah Garden Read more ...
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The week in climate policy: 4 updates you need to know - Greenbiz (Apr 5) |
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Apr 5 · The EPA announces recipients for $20 billion from the 'green bank’ fund, Virginia applies for millions of dollars in federal funds to support decarbonization.
The state of Virginia is applying for millions of dollars from the federal government for reducing pollution and greenhouse gas emissions. Source: Lucy Clark via Shutterstock
Here’s the week in climate policy news: | By Leah Garden Read more ...
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EPA announces awards for $20 billion 'green bank’ - Greenbiz (Apr 4) |
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Apr 4 · Climate United, Power Forward, and the Coalition for Green Capital receive a total of $20 billion from the Greenhouse Gas Reduction Fund.
Today the Environmental Protection Agency (EPA) announced the recipients of its $20 billion Greenhouse Gas Reduction Fund (GGRF).
The three nonprofit coalitions of green banks and community lenders receiving - and evenly sharing - $14 billion from the GGRF’s National Clean Investment Fund are Power Forward, Climate United, and the Coalition for Green Capital. The remaining $6 billion will be divided between five nonprofit community hubs from the Clean Communities Investment Accelerator, helping lenders in underserved communities expand ... | By Leah Garden Read more ...
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Learn how to drive supply chain and procurement sustainability with these 14 training resources - Greenbiz (Apr 4) |
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Apr 4 · Develop and implement strategies for embedding sustainability into your supply chain and procurement practices with these 14 training options.
Editor’s note: This is part of a series on closing the sustainability skills gap with the resources we have available right now. Read the previous articles in this series, which cover training on climate literacy, scaling corporate climate literacy, corporate sustainability strategy, measuring and managing GHG emissions, climate and net-zero strategy, regenerative agriculture, circular economy, professional certifications, creating a sustainability upskilling strategy for your company and free training.
The supply chain is an area ... | By Trish Kenlon Read more ...
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Startups tap advance grant financing to scale quickly and innovate faster - Greenbiz (Apr 4) |
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Apr 4 · A new funding model aims to close the financing gap between established companies and young, ambitious ventures.
Grant advance funding allows startups "to move much faster on a project than they had planned or anticipated." Source: Sophia Davirro/GreenBiz
In September, the U.S. EPA announced $4.6 billion in competitive grants to fund state, local and tribal programs to cut greenhouse gas emissions and deploy climate solutions. Recently, the DOE announced $6 billion in funding for 33 demonstration projects to decrease industrial emissions. Grant funding abounds in catalytic funding - investment (with potential concessionary returns that can be less than purely financially ... | By Jake Mitchell Read more ...
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Circular supply chains: 9 focus areas to maximize impact - Greenbiz (Apr 2) |
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Apr 2 · Building circular supply chains can break the link between resource consumption and revenue generation.
To say supply chains are complex is an understatement. Rarely do we make products out of just one raw material or in just one place. Every product is the sum of its parts. Even something as simple as a cotton T-shirt takes many steps along its journey. From production to shipping to sales to consumer use and end of life - current supply chains are fundamentally linear.
But there’s an alternative journey the humble T-shirt - or virtually any product, for that matter - can travel along. And it’s not linear. It’s circular.
Supply chains are often overlooked in ... | By Sarah Benton Read more ...
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Maersk hopes Amazon, Nestlé, Volvo, other customers will help it hit net zero by 2040 - Greenbiz (Apr 2) |
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Apr 2 · The world’s second largest marine shipping company has a massive, complex task ahead of it.
"Ane Mærsk" is the first of Maersk’s 18 large methanol-enabled vessels, which will be delivered between 2024 and 2025. Source: A.P. Moller - Maersk
Danish shipping giant Maersk in February became the first company in its industry to commit to achieve net-zero status by 2040, validated by the Science Based Targets initiative.
It’s a massive, ambitious and logistically complex project: The marine shipping sector uses an estimated 300 million tons of fuel annually, making it responsible for approximately 3 percent of global emissions. A.P. Moller-Maersk (the company’s official ... | By Heather Clancy Read more ...
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Large corporations face increasing calls for follow-through on climate commitments - Greenbiz (Apr 1) |
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Apr 1 · Dozens of shareholder resolutions at public companies are demanding action, not just wishful thinking and lofty ambition.
Forty-eight resolutions filed for this year's proxy season call for climate transition plans; at least seven of those ask companies for just transition plans for their workers and communities. Source: Shutterstock/Ground Picture
As the 2024 proxy season gets underway - and as climate disasters occur with increasing frequency, costing hundreds of billions in damages and business disruptions in recent years - dozens of shareholder resolutions at large public companies focus on the climate crisis.
Many of this year’s climate-related proxy ... | By Barbara Grady Read more ...
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This week in climate policy: 4 stories you should follow - Greenbiz (Apr 1) |
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Apr 1 · A briefing about funding for clean energy manufacturing, a webinar about the impact of climate change on national security, and more.
Graphic courtesy of Shutterstock/ex_artist
Sophia Davirro/GreenBiz
Monday: The Interagency Working Group on Coal and Power Plant Communities and Economic Revitalization and the Department of Energy (DOE) is hosting a webinar at 1 p.m. ET today going over available federal funding opportunities for clean energy manufacturing and economic development. Featured speakers will include Secretary of Energy Jennifer Granholm and the director of the loan programs office in the DOE, Jigar Shah. Register here.
Tuesday: The Environmental ... | By Leah Garden Read more ...
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Exploring the first international declaration on pathways to building decarbonization - Greenbiz (Mar 28) |
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Mar 28 · The Declaration de Chaillot marks a major achievement for countries trying to meet the targets of the Paris Agreement.
In early March over 1,400 building industry leaders gathered in Paris for the first Buildings and Climate Global Forum. The major achievement at the forum was the creation and signing of the Declaration de Chaillot.
Signed by representatives from 70 countries including the United States, the Declaration establishes shared values, a common framework, and a course of action for international cooperation around accelerating the transition to a decarbonized and resilient built environment. It marks the first time the building industry has aligned ... | By James Ball Read more ...
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How fashion giants are tackling water risks in cotton supply chains - Greenbiz (Mar 28) |
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Mar 28 · Apparel companies are taking action to bolster their water-management commitments and practices.
Growing cotton uses 16 percent to 24 percent of insecticides and up to 40 percent of pesticides applied to fields globally. Source: Shutterstock/Kent Weakley
This is the second of a four-part series taking a closer look at how 72 companies in four industries - beverage, apparel, food and high-tech - performed in Ceres’ new Valuing Water Finance Initiative Benchmark report, which assesses how companies are valuing and acting on water as a financial risk and driving the systemic changes needed to protect freshwater systems around the world.
The fashion industry is a ... | By Kirsten James Read more ...
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Walmart funds almost 1 gigawatt in new U.S. solar power - Greenbiz (Mar 28) |
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Mar 28 · Half the power needed by the world’s largest retailer now comes from clean energy projects.
Walmart is funding almost two dozen new community solar projects and three long-term purchase agreements that will add almost 1 gigawatt of zero-carbon energy to the U.S. grid. That’s roughly enough energy to power 750,000 U.S. homes.
The new installations include Walmart’s first investments in projects for Arkansas, Louisiana and Mississippi - almost half the amount in the new contracts. They are in addition to the more than 600 onsite and offsite renewable energy projects the retailer has supported in the past, representing 2 more gigawatts in clean electricity ... | By Heather Clancy Read more ...
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Biden administration announces $6 billion in clean energy funding - Greenbiz (Mar 27) |
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Mar 27 · Historic amount signals what companies might expect from another four years of Biden.
The Biden administration announced $6 billion in funding for projects that will decarbonize and modernize the U.S. industrial sector this week. The Department of Energy (DOE) will manage the funds, disseminating them to recipients in some of the highest emitting industries, including aluminum, cement and concrete, chemicals, iron and steel and food.
The DOE estimates that the projects will cut the equivalent of 14 million metric tons of CO2 emissions each year, once completed.
"Heavy industry like steel, cement and concrete account for nearly one-third of all U.S. emissions, and ... | By Leah Garden Read more ...
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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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