Climate Week NYC: What happened on day one?
With COP26 postponed and many other large climate events postponed, rescheduled or moved online, all eyes are on Climate Week NYC. Here, edie rounds up the key announcements from the first day.
Higher carbon prices could raise £27bn for green recovery by 2030, experts tell UK Government
The UK's price on carbon will need to reach £75 per tonne by 2030 if the nation is to meet its 2050 net-zero target - a price which would raise up to £27bn of finance for low-carbon sectors.
Formula E becomes world's first net-zero certified sport series
Formula E's ABB FIA Championship has become the world's first sporting series to be certified as net-zero, after offsetting all residual emissions from its six seasons of racing.
Ikea, Unilever and BT spearhead net-zero supply chain initiative
Ikea, Unilever, BT, Ericsson and Telia are among the founding corporate members of a new initiative designed to help multinational supply chains align with the Paris Agreement's 1.5C trajectory.
Walmart targets zero emissions by 2040, won't rely on offsetting
US retail giant Walmart has committed to becoming a zero emissions business by 2040 by pledging to become carbon neutral across its global operations without relying on carbon offsets.
Manchester's B-Corp hub and California's bee-friendly solar farm: The sustainability success stories of the week
As part of our Mission Possible campaign, edie brings you this weekly round-up of five of the best sustainability success stories of the week from across the globe.
Sustainable Business Covered podcast: Talking net-zero for World Green Building Week 2020
Episode 91 of the Sustainable Business Covered podcast delivers three exclusive interviews with experts across the built environment sector to mark World Green Building Week 2020. With buildings accounting for around 40% of global energy consumption and 33% of emissions, this sector is a key focus in the transition to net-zero.
Tate & Lyle has carbon goals approve by Science Based Targets initiative
Food and drink ingredient supplier Tate & Lyle has had goals to reduce operational and value chain emissions approved by the Science Based Targets initiative (SBTi).
#SustyTalk: Lloyds Banking Group's James Wilde on financing the green recovery
edie's #SustyTalk interview series continues with Lloyds Banking Group's head of sustainability James Wilde taking part in a virtual discussion on financing the green recovery, as well as providing an update on the bank's efforts to halve its emissions.
Nespresso targets carbon neutrality by 2022
Nespresso has outlined plans to reduce supply chain emissions, invest in insetting at coffee farms and purchase carbon offsets to reach carbon neutrality by 2022.
Green Finance Institute assembles businesses for zero-carbon heat taskforce
The Green Finance Institute has convened representatives of dozens of businesses alongside experts from local authorities, policy and science for a new taskforce tasked with decarbonising heating systems in the UK.
Arup, Spirax-Sarco and Bolt outline ambitious climate targets
Engineering firms Arup and Spirax-Sarco Engineering have unveiled new net-zero carbon targets, with Arup targeting net-zero emissions by 2030 and Spirax-Sarco aiming for 2040, while mobility platform Bolt aims to become carbon negative by the end of the year.
Carbon prices to climb 50% over next decade following raised EU climate targets
Carbon prices across the European Union (EU) could increase by more than 50% over the next decade, with the bloc's proposed 55% reduction in emissions set to shape renewables and fossil fuel markets in the long-run, according to new analysis from the Refinitiv Carbon Research team.
BT joins calls to accelerate climate action through 1.5C Business Playbook
BT has joined the likes of Ikea and Ericsson in supporting the 1.5C Business Playbook, calling for renewed efforts from corporates and policymakers to halve emissions by 2030 as part of a "race to zero".
Just 0.5% of global GDP needed to reach net-zero by 2050, report finds
By scaling up energy efficiency efforts and deploying renewable energy generation capacity far more rapidly, the world could "technically and economically" transition to net-zero by 2050 for the cost of less than 1% of global GDP annually through to mid-century.
ITV commits to net-zero emissions by 2030
ITV has built on a recent science-based targets announcement by committing to reaching net-zero emissions across the business by 2030.
Why business must take the lead in our green economy
Ella's Kitchen's chief executive Mark Cuddigan outlines why returning to a sense of normality does not mean reverting back to business as usual, with his latest blog outlining the importance of corporate's spurring the green recovery.
PwC targets net-zero operations and supply chain by 2030
PwC has unveiled plans to become a net-zero company by 2030, reducing and offsetting emissions from operations, travel and the supply chain.
SBTi kickstarts process on global standard for science-based corporate net-zero targets
The Science Based Targets initiative (SBTi) has issued its first guidance on what will ultimately lead to the development of a new global standard to ensure that corporate net-zero carbon targets are aligned with climate science.
Sustainability Leaders Awards open for entries ahead of virtual ceremony
edie is proud to announce that the UK's largest and most prestigious sustainable business awards scheme has opened for entries, offering organisations and individuals the opportunity to be recognised and celebrated for leading on sustainability, energy and climate action.
Google offsets lifetime carbon emissions
Google has "eliminated" its entire carbon legacy, offsetting all operational emissions generated before it achieved carbon neutrality in 2007.
13 major airlines commit to joint 2050 net-zero vision
British Airways, Qantas and American Airlines are among the 13 major airlines to have signed a new joint commitment to reaching net-zero emissions by 2050.
Moving beyond ESG to real world impact in a new era of scrutiny for investors
For anyone who thinks sustainable investing is just about climate, the Covid-19 crisis has proven that businesses becoming resilient to climate change, have also proven best-prepared to ride the shock of the current pandemic.
Inclusive recovery: Can a post-pandemic economy shift society and sectors to greener pastures?
The world is still reeling from the continued impacts of the coronavirus pandemic, but the financial decisions that are made now will determine whether all sectors and parts of society are brought along the green recovery.
edie launches new business guide on energy data optimisation
edie has today (9 September) published a new report outlining all the key considerations, challenges and benefits to investing in energy data optimisation to assist with low-carbon strategies.
Signify reaches carbon neutrality globally, revamps corporate goals for 2025
Global lighting firm Signify has revealed it has reached its ambition to be carbon neutral across its operations and is now pledging to "go beyond" that original target.
UK slipping behind on build rate required for net-zero target
The UK is achieving less than half of the required build rate to deliver energy systems that will reach net-zero emissions by 2050, according to a new whitepaper from engineering consultancy Atkins.
Football broadcast on Sky Sports to be certified to highest sustainability standards
Sky Sports has confirmed that all Premier League and English Football League matches broadcast across its sports channels will be certified to sustainable production levels.
Climate crowdsourcing: Government urged to put digital technology at heart of net-zero strategy
A new report has called on the UK Government to secure a windfall of the emerging digital climate tech sector by embracing low-carbon innovation through policy measures - a move which could help slash emissions and add billions to the UK economy.
5 top tips for tackling your organisation's Scope 3 emissions on the road to net-zero
Most organisations will find that a majority of their total emissions footprint sits within the Scope 3 (indirect) category, making this area a key focus for the transition to net-zero. But how challenges measuring, reporting on and reducing emissions across the value chain be overcome?
Scotland commits £1.6bn for national green recovery
The Scottish Government has outlined a new £1.6bn spending framework that will form part of an enhanced New Deal for the country that will improve biodiversity, slash emissions from heating and buildings and support 5,000 low-carbon jobs.
Mark Carney assembles business giants in drive to scale carbon offsetting markets
Representatives from Unilever, Nestle, BP and Shell are among the members of a new private-sector taskforce aiming to scale up voluntary carbon credit markets, spearheaded by former Bank of England Governor Mark Carney.
Report: Circular economy can halve emissions of UK infrastructure projects
Transitioning to a circular economy can assist in the net-zero transition, with a new report supported by AECOM stating that carbon reductions of up to 50% can be delivered and £35bn generated for the UK economy by using closed-loop materials throughout the design process of infrastructure projects.
Boston Consulting Group targets net-zero emissions by 2030
Boston Consulting Group (BCG) has unveiled a bold new ambition to reach net-zero emissions by 2030, pledging to invest in carbon removal projects for unavoidable emissions at a cost of around $80 per tonne.
Microsoft joins European Corporate Leaders Group
Microsoft has joined the European Corporate Leaders Group (CLG Europe) to lobby for ambitious climate policy across the continent, with the European Union (EU) recently pushing for a carbon-neutrality goal.
Lenovo to halve emissions as part of science-based targets
Computer manufacturer Lenovo has unveiled new science-based targets to halve emissions from its operations and reduce value chain impacts by 25% by 2030, with a view to reaching net-zero emissions by 2050.
Mission Possible: edie launches new campaign to drive a Green Recovery
edie has today (2 September) launched a spin-off of the award-winning Mission Possible campaign which will support sustainability, energy and CSR professionals on our collective mission to drive a green recovery across all major industries in the UK.
Clean Future: Unilever to remove fossil-fuel-based carbon from cleaning products by 2030
Unilever has unveiled plans to replace 100% of the carbon derived from fossil fuels in its cleaning and laundry products with captured, natural and recycled carbon within a decade.
Available on demand: edie's Scope 3 emissions masterclass webinar featuring Pukka Herbs
edie's latest masterclass webinar is now available to watch on-demand. Be sure to tune in to learn about managing and reducing your organisation's Scope 3 (indirect) emissions in line with the Paris Agreement, featuring insight from Pukka Herbs' sustainability manager Vicky Murray.
HMRC sets 2040 net-zero target
HM Revenue and Customs (HMRC) has set a net-zero target for 2040 - a decade ahead of the national deadline - and pledged to halve emissions from non-operational business travel as a first step.
Manufacturers aim for carbon-neutral cement by 2050
A group of the world's leading producers of cement have issued a new industry commitment to deliver carbon-neutral concrete by 2050.
Velux partners with WWF to capture lifetime carbon emissions
The Velux Group has pledged to offset 100% of its carbon emissions in the future and to capture the equivalent of its historical carbon footprint using nature-based climate solutions by 2041.
Businesses urged to harness 'nature-based solutions' to combat climate emergency
Businesses have been called upon to trial and pilot 'nature-based solutions' (NBS) in helping them reduce environmental impacts while helping the surrounding areas improve resiliency against a range of climate risks.
Mercedes-Benz targets zero-carbon emissions by 2040, provides 1,800 EVs to Amazon
Mercedes-Benz has joined Amazon's Climate Pledge, setting an aim to become a zero-carbon business by 2040, on the same day the company confirmed it would provide more than 1,800 electric vehicles (EVs) to the e-commerce giant's Delivery Service Partners.
UK's largest pension schemes set for mandatory climate risk reporting
UK pension schemes will be mandated to disclose the climate-related risks posed to assets in their portfolios by the end of 2022, the Department for Work and Pensions (DWP) has said.
Report: Global fashion sector will emit double its Paris Agreement limit by 2030
The global fashion sector is currently generating more emissions each year than the UK, Germany and France combined, and will fail to align with the Paris Agreement without transformational change over the next decade.
Davos delayed: World Economic Forum postpones 2021 event over Covid-19 concerns
The World Economic Forum (WEF) has postponed the 2021 iteration of its namesake conference in Davos, Switzerland, due to the Covid-19 pandemic.
Amazon finances 115MW wind farm to power Irish data centres
Amazon has committed to source 100% of the power generated by a new 115MW onshore wind farm in County Galway, Ireland, as it strives to reach 100% renewable electricity by 2030.
UK emissions still down 14% despite lockdown easing, Carbon Trust analysis finds
The UK's greenhouse gas emissions footprint is down 14% year-on-year per capita basis, new analysis of consumer spending data by the Carbon Trust has concluded.
Brewdog achieves 'carbon negativity', offsetting more emissions than it generates
Brewdog has announced that it is now offsetting more emissions than it generates across Scope 1 (direct), Scope 2 (power-related) and upstream Scope 3 (indirect) sources.
Dixons Carphone to convert to electric and alternative fuel fleet by 2030
Dixons Carphone has signed up to the Climate Group's EV100 initiative, pledging to switch its commercial fleet to electric and alternative fuel vehicles by 2030 and to transition more than half of its medium duty vehicles.
UK's CCS deployment lacking 'comprehensive' planning on non-cluster sites
The UK's net-zero transition is lacking a "comprehensive regulatory framework" to overcome challenges to "dispersed" sites that would be suitable for carbon capture technology (CCS) but that aren't located in industrial clusters.
Mott MacDonald signs World Green Building Council's net-zero commitment
Five major companies including Mott MacDonald have signed up to the World Green Building Council's (WorldGBC) net-zero carbon commitment, which binds signatories to reach carbon neutral operations by 2030.
BHP to exit thermal coal mining within two years
The world's largest mining company BHP has unveiled plans to sell off its thermal coal mines by the end of 2022, after developing new climate targets last year.
#SustyTalk: P&G's James McCall on nature-based climate solutions
edie's #SustyTalk interview series continues with Procter & Gamble's (P&G) senior director of global climate and supply chain sustainability James McCall, who provides exclusive insight into the firm's new emissions targets.
BEIS eyes CfD model to help scale-up UK's green hydrogen economy
Large-scale hydrogen projects with renewables could soon be included in the UK's Contracts for Difference (CfD) auctions, after a new government report identified the mechanism as a favoured option for scaling up 'green' hydrogen technologies.
SSE vows to produce 'Just Transition' plans to bolster science-based climate targets
SSE has become the first UK energy firm to commit to developing 'Just Transition' plans, which will protect affected workers and communities as it aligns with the UK's net-zero target.
Tory MPs call for Boris Johnson to go further and faster on climate in Covid-19 recovery plans
A group of 100 moderate Conservative MPs have called on Boris Johnson to beef up green legislation and investment through the UK's Covid-19 recovery strategy, and are particularly keen for the national petrol and diesel car ban to be moved forward to 2030.
Energy recovery facility to heat homes in Cardiff via district heating network
A district-heating network connected to an energy recovery facility in Cardiff had secured £15m in Government funding to start its first phase of works, with the project potentially saving more than 5,000 tonnes of carbon annually.
BNEF: Covid-19 causing drop in US corporate clean energy purchases
The amount of generation backed by US-based corporates signing power purchase agreements (PPAs) was almost one-third lower in the first half of 2020 than in the first half of 2019, new analysis from Bloomberg NEF has revealed.
'Crack on': Alok Sharma implores businesses to join £2bn Green Homes Grant
Business Secretary Alok Sharma has called on tradespeople across the UK to access the Government's new £2bn Green Homes Grants scheme to mobilise efforts to improve the energy efficiency of the UK's housing stock.
Hydrogen deployment could deliver 75,000 jobs and £18bn boon for UK economy
Utilising hydrogen production could generate £18bn for the UK economy and support more than 75,000 jobs over the next 15 years, according to a taskforce backed by the likes of Shell and BP.
Ibstock to pilot net-zero factory
Brick manufacturer Ibstock has announced plans to pilot at least one net-zero factory, with the company outlining its intention to set a net-zero carbon goal for its operations in the near future.
Anheuser-Busch to run 180 trucks on renewable natural gas
US brewer Anheuser-Busch is planning to convert more than 180 of its trucks to "renewable natural gas" (RNG), a move that is expected to reduce emissions by 70% compared to using conventional diesel.
Flora owner to roll out carbon labelling to 100 million packs
Major food firm Upfield, which owns Flora and Proactiv, has revealed plans to introduce on-pack carbon labelling to 100 million packs by the end of 2021.
Don't let financial capital stand in the way of your sustainability targets
In July, Tim Wynn-Jones of Centrica Business Solutions spoke on a roundtable for edie around how businesses are shifting strategies towards a green recovery. Here, he summarises how innovation in sustainability financing can act as a route to net-zero.
edie launches new business guide on the green recovery
edie has launched a new Explains guide outlining the business impacts, opportunities and drivers of the broader green recovery narrative, as nations attempt to "build back better" from the coronavirus pandemic.
O2: 5G will play 'huge role' in decarbonising energy, transport and manufacturing
Telecoms giant O2 has published a new analysis of the role which ultrafast 5G could play in decarbonising the UK's economy, predicting that it could mitigate 269 megatonnes of CO2e emissions through to 2035.
John Elkington: Businesses should 'think like insurgents' to spur green recovery efforts
EXCLUSIVE: Many organisations will need to "regenerate" approaches to environmental, societal and economic business models in the wake of the financial damage caused by the coronavirus pandemic, according to Volans' chairman and chief pollinator John Elkington, who has called on companies to "think like an insurgent".
Visa prices $500m green bond to assist with low-carbon transition
Visa has launched its inaugural green bond, priced at $500m. It will be used to help the company achieve its decarbonisation aims and its alignment with the UN's Sustainable Development Goals (SDGs).
Geothermal mines, low-carbon transport and floating wind projects bag Government R&D funding
The Government has awarded R&D funding packages to a string of projects which could assist the transition to net-zero, including floating wind farms in the South West, innovative heat recovery systems in Glasgow and a low-carbon transport cluster in the Midlands.
Diageo celebrates halving emissions since 2007
Beverage giant Diageo has exceeded a 2020 sustainability target of halving its direct operations since 2007, after investing in renewable energy and energy efficiency.
Green recovery: Geothermal lithium recovery plant in Cornwall secures Government funding
The UK Government has awarded a share of its Getting Building Funds - designed to support infrastructure in the wake of lockdown - to a project developing a geothermal recovery plant that will extract lithium for use in the electric vehicle (EV) sector.
Europe's largest floating solar farm and Canary Wharf's green office: The sustainability success stories of the week
As part of our Mission Possible campaign, edie brings you this weekly round-up of five of the best sustainability success stories of the week from across the globe.
Net-Zero Business podcast: Exploring Turley's journey to carbon neutrality
In response to the accelerated pace at which corporates are examining and setting net-zero targets to help alleviate the climate crisis, edie has launched a new spin-off of the Sustainable Business Covered podcast. Up next, discussions on engagement and offsetting with Turley.
Ford's scooter arm targets carbon-negativity as Voi launches Cambridge pilot
Ford's micromobility arm Spin has vowed to go carbon-negative by 2025, in the same week that e-scooter giant Voi announced plans for a roll-out in Cambridgeshire.
Bank of England accused of 'missing significant green recovery opportunity'
Greenpeace and other climate campaigners have accused the Bank of England of backsliding on its green finance commitments and are calling on it to stop providing extensive support to high-carbon sectors as part of its Covid-19 recovery process.
Greenest team on the greenest grid: Can carbon-neutral racing energise the climate debate?
EXCLUSIVE: With Formula E team Envision Virgin Racing confirming that it has achieved carbon-neutral status, the company's managing director Sylvain Filippi believes the sport can use its platform to showcase "exciting" low-carbon solutions to inspire a broad audience.
Government faces backlash over 'zero-carbon-ready' homes proposal
Housing Secretary Robert Jenrick has today unveiled new proposals to streamline the planning process for housebuilders, in a bid to deliver homes that are "zero carbon ready", but environmental groups have warned that the shake-up to planning could neglect the natural environment.
The disclosure and transparency trend
As part of edie's new ESG Handbook, CDP's head of investor research Carole Ferguson outlines how the twin threats of the coronavirus pandemic and the climate crisis is creating a heightened focus on transparency amongst investors and corporates.
Get to grips with Scope 3 emissions using edie's new Explains guide for businesses
edie has published a new explains guide, detailing everything businesses need to know to measure and act on scope 3 emissions.
HelloFresh to offset entire carbon footprint
Meal kit provider HelloFresh has announced its intention to offset 100% of carbon emissions from internal operations and offices, corporate travel and deliveries.
Analysts to help align economic recovery plans with net-zero
Many world leaders and businesses have given their verbal support for a 'green' economic recovery from Covid-19. Now, a group of analysts have begun work to develop data-driven digital tools which will help deliver on these commitments.
Scope 3 and the supply chain: How businesses are taking sustainability leadership to a new frontier
Not too long ago, sustainable leadership was defined by those 'getting their own house in order' through emissions reductions, but as the pace required to reduce emissions grows, so too does the efforts from businesses to assist the supply chain in decarbonising. Here, edie looks at some of the transformational ways businesses are engaging with suppliers.
Dropbox targets carbon neutrality and 100% renewable electricity within a decade
File hosting firm Dropbox has pledged to achieve carbon neutrality for direct, power-related and business-travel-related emissions by 2030, as part of a sweeping new sustainability strategy.
ITV commits to 46% reduction in emissions through 1.5C science-based targets
Broadcaster ITV has outlined new targets to reduce emissions by more than 46%, reach 100% renewables and certify its studios and programmes to sustainability standards.
edie Explains: Scope 3 carbon emissions
What are Scope 3 emissions? How are they calculated? How can they be mitigated and reduced? And, what are the business benefits of doing so? This free edie Explains guide gives you everything you need to know.
#SustyTalk: WBA's Vicky Sins on resilience and climate ambition post-pandemic
edie's #SustyTalk interview series continues with senior reporter Sarah George dialling the World Benchmarking Alliance's (WBA) climate lead Vicky Sins for a discussion on disclosure, relilience and ambition.
edie launches new handbook on ESG excellence and best practice
edie has published a new handbook outlining the key considerations and best practice advice to collecting and compiling Environmental, Social and Governance (ESG) data that investors are increasingly looking for, in order to spur the green recovery.
BP vows to cut fossil fuel production by 40% by 2030
BP has unveiled plans to transition away from being an oil company and to become an integrated energy company instead, headlined by a commitment to decrease fossil-based hydrocarbon production within a decade.
Novo Nordisk reaches 100% renewable electricity, sets 2030 net-zero target
Global healthcare firm Novo Nordisk has achieved its ambition to use 100% renewable electricity to power its production facilities.
Private equity investors launch Paris-aligned climate disclosure framework
A group of private equity investors have launched an international network committing to engage with corporates in reducing carbon emissions in line with the needs of the Paris Agreement.
Landsec unveils plans for UK's first net-zero office in London
Property developer Landsec has revealed that it is progressing plans for what it hopes will be the UK's first net-zero commercial building - an office block in Southwark, south London.
Citi targets $250bn environmental financing by 2025, as Moody's unveils science-based targets
Multinational banking giant Citi has pledged to funnel $250bn (£192.5bn) into low-carbon solutions by the end of 2025, in the same week that Moody's unveiled new Paris-Agreement-aligned climate targets.
London unveils £1.5bn green infrastructure package to kick-start economy post-lockdown
London Mayor Sadiq Khan and the London Recovery Board have jointly launched a £1.5bn infrastructure investment package, designed to reduce the city's emissions and water footprint while kick-starting the local economy as lockdown eases.
John Lewis and Waitrose ramp up electric van ambitions as online orders boom
Retail giant John Lewis Partnership has built on a pledge to phase-out petrol and diesel vehicles from the entirety of its fleet within a decade with a sizeable electric van order.
BMW unveils new 10-year climate plan, vows to slash emissions per vehicle by one-third
The BMW Group has pledged to reduce its emissions footprint by one-third by 2030, on a per-vehicle basis, as part of a new climate plan underpinned by science-based targets and electric vehicle (EV) development.
UK's largest pension scheme charts pathway to net-zero
The Government-backed National Employment Savings Trust (Nest) scheme is set to begin divesting from fossil fuel projects immediately, as part of a new roadmap designed to ensure its operations are aligned with the UK's net-zero target.
Building back better: What role should construction and retrofit sectors play in the UK's green recovery?
EXCLUSIVE: The Treasury this month launched a £3bn package to improve the energy efficiency of existing buildings while boosting employment post-pandemic. But what needs to happen now to ensure that the schemes it funds align with net-zero, and what about new buildings?
DPD reaches 2020 fleet electrification target ahead of schedule
Delivery giant DPD has integrated the 700th electric vehicle (EV) into its UK fleet this week, meaning that more than 10% of its UK van fleet is now pure-electric.