Category: MN_BUSINESSES_TA

Equity index compiler MSCI said on Tuesday the world’s listed companies were on a course to cause global warming of 2.9 degrees Celsius, well above a target to limit the worst effects of climate change on the planet. Fewer than half of all global listed companies align with a 2 degree temperature increase, and only just over a tenth conform to the most ambitious 1.5 degree temperature rise scenario, MSCI said in its quarterly Net-Zero Tracker.

Alphabet, Microsoft, and Salesforce today pledged $500 million to new climate tech that’s supposed to pull carbon dioxide out of the atmosphere to keep it from heating up the planet. It’s the latest move by Big Tech to propel the emerging technology forward while painting themselves as global leaders when it comes to taking action on climate change.

More than 50 corporations have joined a global “buyers’ club” that pledges to purchase aluminum, steel and other commodities made from processes that emit little to no carbon, a move that will be announced on Wednesday by leaders at the World Economic Forum in Davos, Switzerland.

The industry moved quickly to capture the narrative, going from disinformation blitz to policy wins within a matter of weeks.

Inaction on climate change could cost the economy $178 trillion over the next 50 years, or a 7.6 percent cut to gross domestic product (GDP) in 2070, a research report from Deloitte Center for Sustainable Progress (DCSP) said…

HSBC has suspended a senior banker after he referred to climate crisis warnings as “unsubstantiated” and “shrill” during a conference speech that has since been denounced by the lender’s chief executive.
Stuart Kirk, who has been HSBC’s head of responsible investing since last July, will remain suspended until the bank completes an internal investigation into the matter.

A new report suggests the money that Big Tech companies keep in the banking system can do more climate damage than the products they sell.

Food waste happens at every stage of the supply chain, with inclement weather, overproduction, distribution and processing issues, and uncertain markets leading to losses even before the food arrives at retail locations, while overstocking, overbuying, and confusion over labels result in food waste in stores and homes. The source of the most significant loss differs worldwide. More than 40 percent of food loss in developing countries occurs at the post-harvest and processing stages, while in industrialized countries, more than 40 percent of such waste occurs at the retail and consumer level. In the U.S., our modern supply chain, which prioritizes efficiency and variety, exacerbated the issue over the last half-century resulting in the amount of food ending up in landfills nearly tripling between 1960 and 2020.

Today, the Environmental Data & Governance Initiative (EDGI) releases its report, Owning Up: A Tool to Measure US Carbon Emissions by Corporations. The report analyzes greenhouse gas (GHG) emissions tracked by the U.S. Environmental Protection Agency (EPA)’s Greenhouse Gas Reporting Program (GHGRP) for 2020, the most recent year data is available.

Salesforce is giving a total of $11 million to 12 global nonprofits in the first round of donations from its $100 million Ecosystem Restoration and Global Justice Fund. The donations, which were announced April 12 at the company’s Net Zero Summit, support key programs that have embarked on various strategies to tackle climate change, including ones that enhance natural carbon sinks, protect biodiversity and create green jobs.