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Of the 111 companies in global heavy industry surveyed, only 16 are well on track to aligning strategies with the Paris Agreement

Global heavy industry failing to align with Paris climate goals

Only 14% of publicly listed companies in the steel, cement, aluminum, paper and mining sector are on track to meet the Paris Agreement's 2°C climate target, according to a report by the Transition Pathway Initiative (TPI), a global investor group supported by the UN. Still, some European companies offer hope, EURACTIV Germany reports.

CCS is viewed as a crucial technology in reaching net-zero emissions

ExxonMobil, LafargeHolcim and Elon Musk: The corporate giants placing their faith in CCS

Over the last couple of days, the world's largest cement manufacturer, one of the world's largest fossil fuel firms and the founder of the biggest electric vehicle (EV) manufacturer have all unveiled strategic efforts to commercialise carbon capture and storage projects.

edie also hosted a bespoke roundtable discussion with sustainability representatives present at the Forum, sponsored by EDF

Sustainability Leaders Forum: Five top tips for turning climate ambition into action

With the dust settling on three days of thought-provoking conversations at edie's Sustainability Leaders Forum (SLF), edie rounds up how businesses can make 2021 a super year for climate action, which turns ambition into action for corporate sustainability.

Fewer than 25% reference the impact that the climate crisis will have on future and current business models

Business giants' climate disclosure 'clearly inadequate', lawyers warn

Lawyers have warned that the majority of FTSE 100 and the largest companies on the FTSE 250 are failing to disclose adequate climate-related data as part of annual corporate reporting frameworks, with some potentially breaching UK law.

Rivett-Carnac worked with the UN to develop the Paris Agreement before serving as president at CDP North America. Now, he co-runs Global Optimism. 

Tom Rivett-Carnac: In the face of the climate emergency, we must all be stubborn optimists

EXCLUSIVE: Paris Agreement architect Tom Rivett-Carnac used his platform at edie's Sustainability Leaders Forum (2 February) to urge listeners to remain solutions-focussed, courageous and optimistic in the face of the world's biggest environmental challenges.

More than eight billion allowances changed hands through European markets in 2020, a near-20% increase on 2019 levels

Global carbon market grew 20% in 2020

The valuation of the global carbon market grew 20% in 2020, totalling almost €230bn and the fourth consecutive year of record growth, new research has found.

Currently, corporate commitments under the Race to Zero campaign cover more than 12% of the global economy and $9.8trn in revenue

COP26 President launches challenge to deliver net-zero 'tipping points' in every sector

The UN High-Level Climate Champions and COP26 President Alok Sharma have today (28 January) unveiled a radical new roadmap to push the global economy towards net-zero emissions, targeting a range of near-term, sectoral tipping points to deliver decarbonisation.

Pictured: The Pince gave a rousing speech via Zoom. Image: Corporate Knights 

Prince Charles: Sustainable business leadership alone won't combat climate change

While congratulating companies to have been named the most sustainable in the world, the Prince of Wales has warned that more must be done to deliver the global low-carbon transition in line with the Paris Agreement's 1.5C trajectory.

The bank doubled its corporate bond programme in response to Covid-19. Image: George Rex, CC BY SA

Bank of England's high-carbon financing a 'moral hazard', MPs warn

The Bank of England risks creating 'moral hazard' by continuing to finance high-carbon projects and companies and providing no-strings-attached financing to carbon intensives companies, the Environmental Audit Committee (EAC) has warned.

The Biden Administration is expected to reverse more than 100 climate-related policies introduced by Trump

Biden returns US to Paris Agreement as part of climate policy overhaul

In one of his first acts after being sworn in as the 46th President of the United States of America, Joe Biden moved to readmit the US back into the Paris Agreement, claiming that tackling the climate crisis, racial inequality and current coronavirus pandemic were the "gravest responsibilities" that countries face.

Pictured: Flooding in Lome, Togo. 

Developed nations accused of over-reporting climate adaptation finance by billions

Wealthy nations have exaggerated figures around how much finance they have provided to developing countries for climate adaptation, with up to $20bn less spent than promised between 2013 and 2017.

The EU NFRD reporting mechanism was created to ensure that the impacts of sustainability are considered more broadly throughout the whole business

NGOs call for heightened standards on corporate sustainability reporting

An alliance of NGOs has called for the European Union's Non-Financial Reporting Directive (NFRD) to be reformed to ensure that more corporates are disclosing relevant climate-related information.

InfluenceMap assessed firms which collectively manage more than $50trn of assets

Report: Major asset managers still voting against tougher climate measures

In the same week that BlackRock was widely criticised for continuing to hold $85bn in coal, an analysis of the world's 30 largest fund managers has found that the global sector is failing to translate high-level climate commitments into investment decisions and support for shareholder resolutions.

If the new resolution receives more than 75% of votes at the bank’s upcoming AGM in April, HSBC would be required to publish a strategy

Investors file climate resolution at HSBC

Investors with a combined $2.4trn in assets under management have filed a resolution at HSBC, calling on the bank to publish a strategy that outlines efforts to reduce exposure to fossil fuel assets.

The reshuffle will enable Sharma to focus on the COP26 climate summit full-time. Image: Gov UK

Kwasi Kwarteng steps up to BEIS Secretary post as Alok Sharma takes on full-time COP Presidency

The Government has confirmed that Alok Sharma will step down from his position as Secretary of State for the Department of Business, Energy and Industrial Strategy (BEIS) to enable more focus on his role as COP26 President, with Kwasi Kwarteng named as his replacement.

Lenovo recently set science-based targets to halve emissions from its operations

Lenovo to deliver global rollout of customer offset scheme

Computer manufacturer Lenovo has unveiled plans to rollout a carbon offsetting scheme for customer purchases across the globe, following a trial run in the Nordics that saw 26,000 metric tonnes of carbon dioxide offset.

The airport has been hit hard by the coronavirus pandemic, with flights dropping by 80% since March 2020

Gatwick Airport under fire over 'callous' runway expansion plan

Green groups have criticised the decision from Gatwick Airport to transform its emergency runway into a fully functioning second runway, claiming that the organisation is "ignoring" noise and emissions issues.

Based on the current decarbonisation rate, PwC warns that the century’s global carbon budget would be used up by the end of this decade

Global decarbonisation efforts need to be five times greater to reach 1.5C pathway

Global efforts to combat the climate crisis will need to be five times greater than current levels, with new research warning that the rate that carbon emissions are decoupled from economic growth slowed in 2019.

Corporate members of the initiative represent a combined turnover of €284bn

Telefónica, Nestlé and Ragn-Sells commit to net-zero supply chains

Technology giant Telefónica, food manufacturer Nestlé and waste management firm Ragn-Sells are the latest businesses to sign up to a collaborative movement to reduce value chain emissions in line with the 1.5C ambition of the Paris Agreement.

The Adaptation Communication will be submitted to the United Nations Framework Convention on Climate Change (UNFCCC) alongside the newly created NDC

UK ramps up climate adaptation plans in build up to COP26

The UK has become one of the first countries to publish an official plan setting out how the nation is responding to the climate crisis through adaptation and resiliency plans that focus on flood prevention and rewilding.

The Chancellor announced in March the UKEF would receive an additional £2bn to finance clean energy projects overseas

UK Government to end support for overseas fossil fuel projects

Prime Minister Boris Johnson has confirmed that the UK Government will end financing and support for overseas fossil fuel projects in the build-up to COP26 in 2021.

Businesses, trade bodies and nations including France had pushed for the 55% target

EU clinches hard-fought deal on 55% 2030 climate target

European leaders haggled through the night to clinch a deal on the bloc's updated climate target for 2030 on Friday morning (11 December), agreeing an EU-wide goal of cutting net greenhouse gas emissions by 55% by 2030.

Of the 62 companies analysed, only 23% have plans in place that align with the 2C pathway by 2030

Shipping, aviation and carmakers failing to align with Paris Agreement

The majority of the worlds largest automotive, shipping and aviation companies are failing to deliver emissions reduction plans in line with a pathway to keep global warming to 2°C - let alone 1.5C - new research has found.

Many of the new signatories already have targets to reach - or go beyond - net-zero

13 big businesses including Unilever and Microsoft join Amazon's Climate Pledge

More than a dozen large businesses including Unilever, Microsoft and Coca-Cola European Partners have signed up to Amazon's Climate Pledge, which requires signatories to reach net-zero by 2040 or sooner.

The UNEP is urging nations to stop relying on high-emitting industries for their economic recovery plans

UN: Green Covid-19 recovery will put world on track to meet Paris Agreement

While Covid-19 lockdown restrictions have resulted in falling carbon emissions, they will rebound and the world will warm by more than 3C this century without a coordinated and ambitious global green recovery approach.

Green groups have welcomed the commitment, but want more detailed outlines of how decarbonisation will be delivered

A 'vital step': Green economy reacts to the UK's new climate commitment

Green groups and business leaders have welcomed Prime Minister Boris Johnson's announcement that the UK has created an updated domestic emissions target for 2030 as its contribution to the Paris Agreement, but with progress lacking against upcoming carbon budgets, many want to see more detailed action plans.

The new target meets the recommendation of the Climate Change Committee 

UK to slash emissions by 68% by 2030, as part of Paris Agreement NDC

The UK Government will aim to reduce emissions by 68% by 2030, as part of a domestic action plan that will deliver the nation's contribution towards the Paris Agreement and limiting global temperature increases to well below 2C and build towards net-zero by 2050.

The CCC will publish its sixth carbon budget this month

CCC pushes Boris Johnson to bolster UK's 2030 climate target ahead of COP26

The Climate Change Committee (CCC) is urging Boris Johnson to commit to reducing the UK's emissions by at least 68% by 2030, through its updated Paris Agreement pledge for COP26.

BlackRock made a major U-turn on its climate approach earlier this year, joining the Climate Action 100+ after previously voting against the group

BlackRock debuts software that assesses climate risk for investors

Investment giant BlackRock has unveiled new software to help investors quantify climate risk and low-carbon opportunities relating to their portfolios.

O'Neill was Theresa May's choice for COP26 secretary. Image: ParliamentLiveTV

Former COP26 chair Claire O'Neill: UK falling behind on international climate engagement

Former Energy Minister Claire O'Neill (nee Perry) has told MPs she is concerned that the UK Government is failing to engage policymakers from other nations on climate action ahead of COP26, risking an unjust global low-carbon transition.

Survey: Just 1 in 10 businesses have backed up net-zero ambitions with science-based targets

While the number of businesses setting net-zero commitments has grown rapidly in recent months, just 10% of firms have set interim science-based emissions targets to ensure they're aligning with climate science.

The EU called on nations to learn lessons from the disruption caused by the coronavirus pandemic by improving preparedness and resilience when tackling the climate crisis

G20 urges preparedness to tackle climate crisis

As Donald Trump skipped some of the key virtual meetings between G20 leaders to play golf, the European Union (EU) has called on nations to learn lessons from the coronavirus pandemic by stepping up preparedness and resiliency to tackle the climate crisis.

Almost half of the companies assessed scored a ‘zero’ on emissions targets

Report: Carmakers including Tesla and Honda 'driving in the slow lane' towards climate goals

Two-thirds of the world's largest carmakers have not set electric vehicle (EV) and emissions targets in line with the Paris Agreement's less ambitious trajectory - and the auto sector is failing to deliver on human rights commitments, as well.

Canada will need to address its dependence on fossil fuels to meet the new target

Net-zero by 2050: Canada tables first climate legislation in more than a decade

Canadian Prime Minister Justin Trudeau has tabled a bill which would legally bind the nation to reaching net-zero emissions by 2050.

According to the Ellen MacArthur Foundation, there are more than 86 million tonnes of plastics in the oceans, with up to 12 million tonnes added each year

UK to support 'Paris Agreement on plastics'

The UK Minister for Pacific and the Environment, Zac Goldsmith, has revealed that the UK is willing to discuss a new global treaty to tackle plastics pollution, which has been supported by more than two-thirds of UN member states.

SSE intends to spend the equivalent of almost £4m a day on low-carbon activities through to the end of 2025

SSE unveils 'just transition' strategy to benefit communities during net-zero transition

Energy giant SSE has issued a public "Just Transition" plan, which lays out steps to protect workers and communities as the business and the UK moves towards net-zero emissions.

LafargeHolcim has committed to becoming the first global building materials company to have targets approved by the Science Based Targets initiative (SBTi)

LafargeHolcim links €850m to decarbonisation goals

The world's largest cement manufacturer, LafargeHolcim, has priced an €850m bond linked to the company's sustainability targets.

Oil and gas majors, along with materials giants, airlines and automakers, received the letter 

Disclose climate risks or face divestment, investors warn Europe's largest companies

A coalition of investors representing more than $9trn of assets has asked some of Europe's largest and highest-emitting companies, like Shell and Maersk, to prove they are aligning with the Paris Agreement and to improve climate risk disclosure.

Many were disappointed with the choice of sponsors for COP25 in Madrid in 2019

Utilities and banks: UK unveils first round of corporate COP26 sponsors

The UK's COP26 secretariat has named utilities SSE and Scottish Power, along with National Grid and NatWest Group, as its first sponsors for the climate conference next year.

Johnson has commenced a year-long countdown to COP26. Image: Foreign Office flickr

'No time to waste': Boris Johnson to set out 10-point plan to boost net-zero commitment

Prime Minister Boris Johnson has issued a global rallying call on nations to put forward raised ambitions to tackle the climate emergency as part of a year-long run-up to COP26, with the UK set to publish a 10-point plan to boost green jobs and reach net-zero imminently.

With the US accounting for 14% of global emissions, the world’s largest economy will be a key driver in striving to reach required levels of global decarbonisation

US Election 2020: What does Joe Biden's win mean for the global climate emergency?

US President-elect Joe Biden is outlining that first steps of his transition plan after beating Donald Trump in the US election. While the latter is yet to concede the results, leadership under the Democrats will deliver a very different outlook on global efforts to combat the climate crisis.

If Biden does win, more than 60% of global emissions would be covered by a net-zero ambition

The Net-Zero election: Will the US continue to swim against the tide on climate change?

It is election night in the US and millions of citizens have already cast their vote on who should be the next president. The divide between Donald Trump and Joe Biden is evident, with one ready to withdraw from the Paris Agreement and the other ready to embrace the net-zero transition. The result of this election will likely shape global climate negotiations moving forward.

The groups are calling for a fresh emissions goal to be set for 2030

Business groups call on Prime Minister to set Paris Agreement commitment by end of year

A number of green business groups have called on Prime Minister Boris Johnson and the UK Government to set a substantial commitment to the Paris Agreement that is aligned to the nation's own net-zero target.

On average, each of the 50 banks was linked $52bn in finance that is causing biodiversity loss risk

Banks and agribusiness linked to biodiversity loss

Some of the world's largest banks have been linked to industries that are causing mass deforestation and biodiversity loss, with some in the finance sector providing loans and underwriting worth more than $2.6trn to climate-wrecking initiatives.

Many businesses and trade organisations have upped lobbying activities as nations develop post-Covid-19 plans

Investors ask most-emitting companies to prove their climate lobbying is Paris-Agreement-aligned

Dozens of the world's highest emitting corporates have been asked to explain how their lobbying activities impact climate change by an influential group of investors.

Despite playing host to a growing renewable energy sector, Japan is still largely reliant on coal

Japan to legislate for 2050 net-zero target

Japanese Prime Minister Yoshihide Suga has vowed to enshrine a 2050 net-zero target in national law, major news outlets across the globe are reporting.

The Government has responded to advice from the CCC

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.

The Chancellor announced in March the UKEF would receive an additional £2bn to finance clean energy projects overseas

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.

The businesses are accountable for 13.5 gigatons of emissions across scope 1 and 2 – equivalent to 25% of all global emissions

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.

With around half of global GDP covered by net-zero targets, fossil fuel majors are under pressure to transform

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. 

In a 4.4C world, annual climate-related damage costs could be 17 times higher in 2200 than 2070, the report predicts

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.

The event went digital for the first time, due to Covid-19 restrictions in the US

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.

The announcement was made at Climate Week NYC

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.

Image: Foreign and Commonwealth Office / CC BY (https://creativecommons.org/licenses/by/2.0)”

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 accounts for 28% of the world's emissions and almost 10% of global GDP

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.

The global cement industry is estimated to account for 6-7% of man-made greenhouse gas (GHG) emissions annually

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).

The targets have now been approved by the SBTi as consistent with levels required to meet the climate goals of the Paris Agreement

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 has a net-zero emissions goal set for 2045

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".

The paper is the first step in an effort to ensure that corporate net-zero targets are aligned to climate science and efforts to deliver a net-zero world by no later than 2050

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.

Companies receiving the letter collectively account for 80% of industrial greenhouse gas emissions generated globally each year

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.

The end game, regardless, would be to achieve climate neutrality by 2050

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.

Differentiating from sustainable to transitional finance could impact society across the globe

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.

Sharma was quizzed on the UK's roads programme, green buildings grants and COP26 preparations 

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 will aim to double the revenue it earns from its “circular” products and services, now targeting 32% of all sales by 2025

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.

Sky recently unveiled a new commitment to achieve net-zero carbon emissions by 2030 

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.

The company claims the targets will assist with the identification of steps required to become a net-zero emissions business by 2050

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.

In addition, the Ingka Group has confirmed it will implement a “zero-fossil fuel approach” to spending and procurement

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.

Registration is free and the session will be made available on-demand after it airs

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.

The global cement industry is estimated to account for 6-7% of man-made greenhouse gas (GHG) emissions annually

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.

More than 1,200 eSprinters will be provided, with an additional 600 eVitos – a smaller zero-emission electric van – also incorporated into the fleet

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.

Image: Ron Fassbender

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.

Over the next decade, IGS will aim to shift to clean energy solutions, including building on its existing solar division

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.

The Presidency, headed by Alok Sharma, seems to be keen to avoid accusations of greenwashing

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.

Plan B’s director Tim Crosland argued that the decision remains a “fundamental breach of the social contract” and is working to file a claim with the courts

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.

The blueprint will be fine-tuned before the end of 2020

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.

The new investor group will focus on improving corporate understanding and action on the materiality of climate risk

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 will attempt to drive engagement with a new global standard across its sector

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.

The updated deal raises spending on climate action from 25% to 30%

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".

Many Coalition members have already set net-zero targets, but the new partnership aims to accelerate progress further

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.

Of the collective electricity generation capacity if the cohort, 60% is attributable to fossil fuel assets. Image: WBA

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.

Sky Sports has meanwhile confirmed it is the first sports broadcaster to sign up to the UNFCCC Sports for Climate Action Framework

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 is aiming to deliver a final investment decision on the plant in 2023, with production set to commence in 2026

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.

Image: Stribrohorak, CC BY 3.0. https://commons.wikimedia.org/wiki/File:Doln%C3%AD_Dolce_K._Are%C3%A1l_Kimberly-Clark.jpg 

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.

The Airport claims it has been working since the recent Heathrow court ruling to examine how the expansion can be deliver in line with the Paris Agreement

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.

R&D spend to will be used to develop more efficient solutions to combatting climate change

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 are becoming increasingly vocal on the need for a green recovery from the pandemic that does not lock in fossil fuels to the future economy

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.

New analysis from the Energy and Climate Intelligence Unit (ECIU)’s Net-Zero Tracker has found that 53% of global GDP is now covered by an intended or actual net-zero commitment

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.

Carbon Tracker warns that any oil or gas producers attempting to revert to “business as usual” could be risking in excess of $100trn in potential profits

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.

The International Commercial Aviation Organisation (ICAO), a UN body, is set to start its annual general assembly on 8 June in Montreal,

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.

Glasgow was announced as the host city for COP26

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).

McKinsey notes that allocating funding towards climate action will cut emissions, spur job growth and generate economic returns

'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.

Glasgow was announced as the host city for COP26

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.

Just 6% had explored short, medium and long-term risks that could emerge as the world moves along the low-carbon transition

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.

The call from the SBTi comes as politicians prepare to outline economy recovery packages to respond to the economic damage caused by the coronavirus pandemic

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.

LSE warns that less than 5% of global emissions that are covered under carbon pricing initiatives are priced at a level consistent with the aims of the Paris Agreement

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.

The companies studied have all made recent commitments to combatting climate change, with some badging their new strategies as net-zero

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.


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