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Government to publish 'comprehensive' net-zero strategy in build up to COP26
The UK Government has responded to the latest Committee on Climate Change (CCC) progress report, pledging to publish a "comprehensive" strategy that will detail how all parts of the economy will decarbonise in line with the national net-zero emissions target for 2050.
UK Export Finance could support 42,000 green jobs by reallocating funds from oil and gas
The UK Government's direct lending facility could support more than 40,000 jobs in the renewables sector annually by 2035, if it were to assume liabilities for renewable exports like it currently does for oil and gas, new research has found.
From Tesla to Rio Tinto: Investors call on thousands of businesses to set science-based targets
Tesla, Nest, TIU, Roche Holding AG and Rio Tinto are amongst the 1,800 companies that have been urged to set science-based targets by a group of investors and financial institutions representing more than $20trn in assets under management.
Low-carbon transition: Even best-prepared fossil fuel majors 'to see half of portfolios become uncompetitive'
While European oil and gas majors are diversifying their portfolios to include more renewables, setting stricter climate targets and adjusting their oil price predictions, at least half of their operations won't be competitive in a 1.6C world, a new report claims.
CDP: Paris Agreement alignment could cut climate change costs by two-thirds
The mean damage costs of climate change will reach $5.4trn annually by 2070 and "spiral" to up to $31trn per year by 2200 if the global temperature rise hits 4.4C by the end of this century - which it will unless 'business-as-usual' is transformed.
Everything you may have missed: The sustainability success stories of Climate Week NYC 2020
As Climate Week NYC comes to a close, edie highlights the numerous new green commitments and announcements made by businesses and policymakers.
Business giants including Best Buy and Siemens join Amazon's climate pledge, target net-zero by 2040
Corporate giants Best Buy, Siemens, Schneider Electric and McKinstry, along with Spanish football club Real Betis, have joined Amazon's Climate Pledge and vowed to reach net-zero carbon by 2040.
As Boris Johnson unveils COP26 'launchpad' event, is the world on track for a green recovery?
In a speech to world leaders today, Boris Johnson confirmed that the UK will co-host a climate event with the UN in December and will spend the coming months urging other nations to update their emissions targets. But is the UK keeping its own promises for a green recovery? And are world leaders walking the talk on their own commitments?
China's carbon-neutral target for 2060: What does it mean for global climate action?
The world's largest emitting country, China, has pledged to carbon neutrality by 2060, in a surprising yet welcome move that will boost global negotiations on climate action ahead of next year's COP26 summit.
World's largest cement manufacturer commits to science-based targets and net-zero pathway
The world's largest cement manufacturer, LafargeHolcim, has committed to becoming the first global building materials company to have targets approved by the Science Based Targets initiative (SBTi).
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).
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".
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.
Investors covering $47trn ask world's highest-emitting corporates to prove net-zero alignment
An initiative involving 500+ investors representing $47trn in assets has asked 161 of the world's largest corporate emitters, including fossil fuel and mining giants, requesting that they commit to net-zero targets and prove they are changing their business models and processes accordingly.
EU lawmakers up the ante, vote for 60% climate target for 2030
The European Parliament's environment committee has voted for a new EU-wide target to reduce carbon emissions 60% by 2030, setting the stage for tough negotiations with EU countries and the European Commission, which is expected to propose a 55% goal next week. EURACTIV Germany reports.
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.
Alok Sharma promises 'joined-up thinking' on net-zero policy, but examples remain scarce
Business Secretary Alok Sharma delivered rhetoric that the Government will approach the net-zero emissions commitment for 2050 through a "joined-up thinking" approach, but was unable to confirm any concrete policy announcements that would ensure fossil fuels aren't locked into the future economy.
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.
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.
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.
Ikea owner commits €600m in sustainability investing over next 12 months
Ingka Group - the business owner of Ikea - will commit €600m in sustainability investments, including a "zero-fossil fuel" approach, to assist with Ikea's overall ambition of becoming "climate positive" by 2030.
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.
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.
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.
Samsung faces youth climate protests over involvement in new Vietnam coal plant
Climate protestors have gathered outside Samsung's flagship UK store on Oxford Street this morning (21 August), calling on the firm to halt plans to help build a new coal-fired power plant in Vietnam.
Energy retailer IGS commits to net-zero by 2040
One of the US's largest energy retailers, IGS, has announced a new commitment to reach net-zero emissions for its operations and the services it provides to its domestic and business customers by 2040, pledging to provide 100% renewable electricity and carbon-neutral gas.
UK Government starts search for corporate COP26 sponsors
The UK's COP26 presidency has outlined its sponsorship criteria for the conference, stating that it is only looking to work with businesses with "ambitious" net-zero targets.
Treasury defends lack of 'green strings' tied to corporate Covid-19 relief packages
The Government has defended its decision to issue billion-pound bailouts for carbon-intensive companies and sectors, with the Treasury hitting back at accusations that the Paris Agreement and the climate crisis had been cast aside, but a court case still looms.
Major investors to pilot new net-zero framework on $1.3trn of assets
Standard Life and the Church of England Pensions Board are among a coalition of investors trialling what has been described as the world's first blueprint for aligning investment portfolios with the Paris Agreement on climate.
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.
Morgan Stanley to disclose climate impact of investments
Morgan Stanley has become the first US-based global bank to commit to measuring and disclosing the environmental impact of its investment portfolio and loan offerings and will join a global partnership to drive climate action across the global accounting sector.
Coronavirus: EU's recovery deal lacking climate spending accountability, green groups warn
Following four nights of negotiations, the European Union (EU) has agreed its biggest joint borrowing plan ever recorded, pledging €750bn to a coronavirus recovery package, but green groups have expressed concerns that focus and accountability on green spending have "taken a battering".
We Mean Business Coalition urging members to target net-zero by 2040 under new Amazon partnership
More than 1,200 businesses will be encouraged to set and supported to deliver against net-zero targets deadlined no later than 2040, after We Mean Business Coalition partnered with Amazon.
WBA: Less than 10% of electric utilities are taking Paris-Agreement-aligned climate action
Analysis of the decarbonisation ambitions and actions of 50 of the world's largest electric utilities companies has revealed that less than one in ten have fully aligned their business models with the Paris Agreement, despite the fact that the sector must 'enable' the global low-carbon transition.
Sport broadcasters form new sustainability consortium
BBC, ITV, BT Sport and Sky Sports are some of the key broadcasters that have joined the BAFTA Sports Consortium, a new group set up to reduce the impact that sports broadcasting has on the environment.
Equinor to deliver world's largest at-scale hydrogen from carbon capture plant in Hull
Equinor has unveiled plans to develop the world's largest plant capable of converting natural gas to hydrogen in combination with carbon capture and storage (CCUS), as part of the zero-carbon industrial hub located in the Humber region.
Kimberly-Clark vows to halve emissions by 2030
Kimberly-Clark has pledged to halve its direct, power-related and supply chain emissions by 2030, as part of a string of new climate targets approved by the Science-Based Targets Initiative (SBTi).
'Happy Birthday, you haven’t aged a day’: One year on from the UK’s net-zero announcement
It's been one year since the UK's historic net-zero announcement, and the movement is being kept afloat by the corporate sector in a year the has seen policy blindsided by a global pandemic and slowed to a frustrating pace by Brexit.
Luton Airport to become 'most sustainable airport' by 2040
London Luton Airport has revealed an intention to become the UK's "most sustainable airport" by 2040, claiming that a planned expansion can be delivered in line with the ambitions of the Paris Agreement.
Rolls-Royce commits to net-zero carbon operations by 2030
Manufacturing giant Rolls-Royce has announced an intention to become a net-zero carbon business by 2030, alongside a wider ambition to enable sectors it sells to in becoming net-zero by 2050.
Investors worth €11trn call for European green recovery from Covid-19 pandemic
More than 100 investors have written to European business and finance leaders, calling on them to ensure the delivering of the bloc-wide Green Deal and deliver a green recovery from the coronavirus pandemic.
Net-zero must be at the heart of the business response to restoring the health of nature
World Environment Day 2020 aims to trigger action to protect and restore the health of nature around the world. This couldn't be more timely. Whilst evidence abounds showing that nature is bouncing back due to less human activity resulting from Covid 19, the statistics are still alarming.
Race to Zero: COP26 campaign launched to push nations towards net-zero targets
To mark World Environment Day, the UK Government has launched its "Race to Zero" global campaign to mobilise support for the net-zero transition across businesses, cities and nations, with new data finding that 53% of global GDP is covered by a net-zero ambition in some form.
Fossil fuel profits set to collapse by two-thirds
The global market value of fossil fuels is set to collapse by almost two-thirds, creating heightened economic risk for companies, financial markets and countries failing to embrace new low-carbon technology.
EU urged not to mess with UN aviation rules
Leading MEPs have asked the European Commission and Council not to seek changes to the UN's global aviation scheme, which is aimed at making the industry carbon neutral. Airlines have requested more leeway to ride out the coronavirus outbreak slump.
Boris Johnson confirms new COP26 date, urges nations to focus on green recoveries
Prime Minister Boris Johnson has reiterated a desire for the UK to deliver a "sustainable" recovery from the coronavirus pandemic in a way that brings together key international nations to reach the ambitions of the Paris Agreement and the Sustainable Development Goals (SDGs).
'Use it or lose it': Pandemic recovery a decisive moment for climate action
A new report from global analyst firm McKinsey has found that recovery packages from the coronavirus pandemic will be decisive in putting the world on course to meeting the Paris Agreement, calling for low-carbon technologies and solutions to be prioritised.
Reports: COP26 to be delayed until November 2021
Reports have emerged that the UK Government has put forward the first two weeks of November 2021 as new proposed dates for the crucial COP26 climate conference, citing concerns over the state of international travel safety due to the coronavirus.
Business giants failing to disclose climate-related risks
Europe's largest businesses are failing to provide relevant climate-related data to investors, which could jeopardise the European Union's aims to deliver a "just" carbon-neutral transition by 2050.
Business giants call for science-based green economic recovery
More than 150 business giants, including Carlsberg, H&M and Pernod Ricard, with a combined market capitalisation of more than $2.4trn, have signed a joint statement calling on all governments to align coronavirus economic responses to climate science.
Carbon price: Tax polluters not people to assist coronavirus recovery, report urges
Carbon pricing aligned to the needs of the Paris Agreement can raise revenue to support the coronavirus recovery in a better way than a tax on income or labour, new research by the Grantham Research Institute on Climate Change and Environment at the London School of Economics and Political Science (LSE) has found.
Oil and gas giants overstating net-zero ambitions, study finds
Recent announcements from European oil and gas majors such as Total, Shell and BP to commit to net-zero aren't actually aligned to the required, science-based cuts to emissions to reach net-zero or the 1.5C target of the Paris Agreement, new research has found.
Law firm Slaughter and May's carbon goals approved by SBTi
Legal giant Slaughter and May has confirmed that a goal to reduce emissions by 50% by 2030 has been approved by the Science Based Target initiative (SBTi) as aligned to the 1.5C ambition of the Paris Agreement.
Financiers join EU 'green recovery alliance'
More than 50 CEOs from the banking and insurance sector - including household names such as BNP Paribas, AXA, Allianz, and Santander - have joined the "green recovery alliance" in the European Parliament.
Total commits to net-zero emissions by 2050 following investor pressure
Global energy company Total is the latest in the sector to commit to net-zero emissions, setting a target for 2050 or sooner after extensive engagement with a climate action investor coalition.
World GBC's 'Paris proof' buildings and Abu Dhabi's low-cost solar: 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.
EU lawmaker puts 65% emissions cut on the table
The European Parliament is gearing up for tough talks on the EU's climate target for 2030, with a 65% emissions cut now firmly on the table.
Messages of hope: How world leaders are rallying for a green Covid-19 recovery
The two-day Petersberg Climate Dialogue finished yesterday evening, with ministerial leaders from the UK, Germany, the EU and the UN all delivering rallying cries for nations to focus on climate mitigation as part of any efforts to stimulate the economic downturned caused by the coronavirus outbreak.
EU's climate strategy can spur 'just' and resilient labour market
On the eve of the release of the EU's recovery strategy, a group of business leaders have called for the bloc's climate-neutral target to be coupled with a "just transition" that could deliver job growth against future climate, demographic and technological megatrends.
Barclays and HSBC blasted over £158bn fossil fuel financing
Banking giants Barclays and HSBC have been accused of financing a combined £158bn into the fossil fuel sector since the signing of the Paris Agreement in 2015, despite both organisations pledging to ramp up sustainable investment portfolios.
Alok Sharma: 'Focus has not stopped' on global climate action
The Secretary of State for Business, Energy and Industrial Strategy (BEIS), Alok Sharma had stated that the UK remains focused on preparations for the delayed COP26 climate summit, claiming that nations can't treat the coronavirus pandemic and climate action as an "either-or" scenario.
Refinitiv, JLL and Ball unveil 1.5C science-based carbon commitments
Refinitiv has committed to setting science-based targets to reduce emissions in alignment with the Paris Agreement, while manufacturer Ball and real estate firm JLL have confirmed that their targets have been approved by the Science Based Targets initiative (SBTi).
Six key areas of focus for sustainability professionals during lockdown
It's been almost a month since the UK Government introduced lockdown measures in response to Covid-19 and has since announced a further three-week extension to social distancing. As such, edie offers some best-practice advice for sustainability professionals to keep focusing on the climate battle during the pandemic.
IRENA: Renewables transition to boost global economy by $98trn
With the global economy set to slump to its lowest output for more than a century, nations can spur a global economic recovery by delivering a renewables-based energy transformation that could boost cumulative global GDP gains by more than $98trn compared to a 'business-as-usual' trajectory.
Evian achieves carbon neutral certification globally
Danone-owned bottled water brand Evian has confirmed it has achieved carbon neutral certification across all the countries where the brand operates, following efforts to improve the efficiency of facilities and logistics and reducing lifecycle emissions of its bottles.
Pearson to halve value chain emissions as part of approved science-based target
Learning and education company Pearson has had targets to halve its operational and value chain emissions by 2030 approved by the Science Based Targets initiative (SBTi).
Royal Dutch Shell commits to net-zero emissions by 2050
One of the world's largest emitters, Royal Dutch Shell, is set to announce plans to become a net-zero emissions business by 2050 at the latest at its Responsible Investment Annual Briefing today (16 April).
LG's solar arm targets carbon neutrality by 2030
LG Electronics' solar division has unveiled a new strategy of measures that will enable the business to become carbon neutral by 2030.
UK's climate watchdog to refocus advisory reports to account for coronavirus impacts on net-zero
The Committee on Climate Change (CCC) has announced it is amending its advisory reports due for publication over the next 12 months to account for responses to the coronavirus pandemic, with a report on the UK's sixth carbon budget pushed back to December.
Lockdown screening: 8 of the best film recommendations for sustainability and energy professionals
With many edie readers searching for something to watch in the safety of their own home, we've pulled together a list of the top films and documentaries to get lost in during lockdown – as recommended by sustainability and energy professionals across the country.
MPs call for climate policy clarity on COP26 progress following postponement
The chair of the Environmental Audit Committee (EAC) has written to COP26 President Alok Sharma to seek an update on the "sad but unfortunate necessity" of postponing the climate summit, noting that climate change cannot afford to slip down the political agenda.
COP26 climate summit postponed due to coronavirus
The crucial summit to negotiate for higher ambitions on climate change scheduled for November in Glasgow has been postponed, with new dates for the meeting to be decided in the coming months. However, there are some positives to the delay.
A 'sensible step' and 'opportunity to rebuild': Green economy reacts to COP26 postponement
Green groups have expressed disappointment but understanding that the COP26 climate summit scheduled for Glasgow in November has been postponed until 2021, with many citing the opportunity for countries to accelerate climate action in the meantime.
Equinor leaves US oil and gas industry body due to 'lack of position' on climate policy
Norwegian oil and gas giant Equinor has announced that it is leaving a US oil and gas industry association due to a "misalignment" with the company's new climate commitments and is set to influence other associations to deliver strong climate targets.
Ricoh sets 1.5C science-based target as part of zero-emissions ambition
Japanese electronics firm Ricoh has confirmed that it has had a new target to reduce emissions by 63% by 2030 approved by Science Based Targets Initiative (SBTi) as aligned to the 1.5C ambition of the Paris Agreement.
US clears Exxon and Chevron to dismiss shareholder climate reporting requests
The US Securities and Exchange Commission (SEC) has approved requests from both Exxon and Chevron to reject shareholder proposals that have called on the oil and gas giants to report on how the companies are addressing climate change by aligning to the Paris Agreement.
Link airline coronavirus rescue package to climate targets, campaigners urge
Campaigning groups have called for any Government bailout of airline companies due to the impact of the coronavirus to include conditional links for worker rights, fair taxing systems and transparent action plans on climate change.
Online climate strikes: XR turns to digital activism amid coronavirus pandemic
Extinction Rebellion's (XR) Youth arm has taken its campaign to demand that fossil fuel representatives are excluded from COP26 negotiations online, after pausing mass demonstrations in light of the coronavirus.
Heavy-emitting firms 'off-track' to deliver low-carbon world
More than 80% of the highest-emitting listed companies are failing to deliver emissions reductions aligned to the Paris Agreement's 2C global warming limit, with many companies also failing to account for climate mitigation and risk strategies.
Coronavirus vs. climate change and COP26: What happens next?
The coronavirus pandemic has brought the global economy to a standstill, with some now doubting whether the crucial climate talks scheduled for COP26 will be able to go ahead. So, asks Matt Mace, what impact would delaying the summit have on international efforts to combat the climate crisis?
Chanel sets 1.5C science-based targets, pledges 100% renewable energy
Luxury fashion and fragrance giant Chanel has committed to halve its carbon emissions by 2030, under a new 1.5C-aligned set of sustainability targets.
Global banks 'failing miserably' on climate crisis by funneling trillions into fossil fuels, study finds
The world's largest investment banks have funnelled more than £2.2tn ($2.66tn) into fossil fuels since the Paris agreement, new figures show, prompting warnings they are failing to respond to the climate crisis.
UN head: Global action on climate crisis 'way off track'
The world is "way off track" in dealing with the climate emergency and time is fast running out, the UN secretary general has said.
Corporate leaders want decarbonisation as central focus for Europe's Industrial Strategy
Business giants including Unilever, Interface, and Coca-Cola have called for the new European Industrial Strategy to focus heavily on decarbonisation in a way that sets out clear strategies for investment into low-carbon solutions and provides price incentives for new goods and services.
EU debuts climate law 'compass', Greta dismisses it as 'surrender'
The European Commission officially unveiled its Climate Law on Wednesday (4 March), aimed at making the EU carbon neutral by 2050. But Swedish climate activist Greta Thunberg criticised the plan as a "surrender".
Manchester City Council spells out five-year action plan to halve emissions
Manchester City Council hopes to approve a new action plan that would commit to halving the council's carbon footprint by 2025, in assistance with the city's wider ambition to reach net-zero emissions by 2038.
O2 targets net-zero network and operations by 2025
Telecommunications giant O2 has pledged to achieve net-zero across its entire business and mobile network by 2025 - a move it claims will make it the UK's first net-zero mobile network provider.
Vital COP26 climate talks could be derailed by coronavirus
Concern is growing among campaigners that vital UN climate talks will be derailed by the coronavirus outbreak, while government officials are working to find ways round the problem.
'Investing for net-zero must go mainstream': COP26 finance strategy unveiled
The UK has published its COP26 strategy to help private finance support a global economic transition to net-zero emissions, with a heavy focus on exploring mandatory reporting requirements for climate-related data.
Science-based pathway for net-zero emissions established for telecoms sector
The International Telecommunication Union (ITU), the Global e-Sustainability Initiative (GeSI) and the GSMA have forged a new partnership to develop a sector-specific decarbonisation pathway that will outline how all companies in the mobile sector can set science-based targets.
Government won't appeal Heathrow expansion court decision
UPDATED: The UK Government will not appeal a court decision to block the development of a third runway at Heathrow Airport, which was issued in response to climate change concerns and national targets aligned to the Paris Agreement.
Negotiations start on global 'Paris-style' deal to avert Earth's sixth mass extinction
National governments will meet in Rome this week to discuss and reflect on a 20-point UN draft proposal to halt irreversible ecological damage, which looks set to be formally adopted in October.
Financial Reporting Council launches 'major' review of corporate climate reporting
The Financial Reporting Council (FRC) is set to launch a major review into the quality of how companies and auditors are reporting on climate change impacts and risks, including the pace at which the Task Force on Climate-related Financial Disclosures (TCFD) framework has been adopted.
Glencore slams BP's net-zero target as it outlines measures to cap coal use
The chief executive of coal giant Glencore dubbed BP's 2050 net-zero target "wishy-washy" as he outlined how his firm will tackle scope 3 emissions through to 2035.
RBS's climate goals and Aldi's plastic bag crackdown: 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.
'Climate risk is financial risk': TCFD surpasses 1,000 global supporters
The Task Force on Climate-related Financial Disclosures (TCFD) has revealed that more than 1,000 organisations are supporting its recommendations, including corporates with a combined market cap of $12trn and investors with $138.8trn of assets under management collectively.
Dissecting the challenge: How Sky is approaching its net-zero target
EXCLUSIVE: Sky is facing the daunting task of engaging with 11,000 companies and 24 million customers as part of its new commitment to achieve net-zero emissions by 2030. The group's head of responsible business Fiona Ball outlines how Sky is "dissecting" this target to manage the transformation.
Carbon trading clarity and citizens in the spotlight: What do businesses want from COP26?
With a successor to the COP26 presidency role yet to be announced, all eyes are on Westminster for news on its plans for organising the crucial summit. But - beyond a stable delivery team - what are UK business's big asks of the conference, both in terms of organisation and execution?
Michael Gove urges 'most transparent ever COP' for Glasgow
Former Environment Secretary Michael Gove has laid out his big asks for COP26 preparations and denied rumours that he will replace former Energy Minister Claire O'Neill as the event's president during this week's cabinet reshuffle.
BrewDog to upcycle and trade used cans for company equity
Craft beer firm BrewDog has unveiled a new sustainability action plan that will allow consumers to trade in beer cans for upcycling and recycling in exchange for an equity stake in the company.
