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above pre-industrial levels as outlined in the ParisAgreement. National and international climate commitments, including those under the ParisAgreement, are driving policy shifts toward decarbonization by setting emissions reduction targets.
Converting our EU manufacturing sites to 100% renewable electricity is a significant step in our journey to further reduce our emissions, lower the carbon footprint of our products and put us on a clear path toward decarbonization in our operations by 2050. Scope 3 emissions were also down 39% from 2020 levels.
Morgan Stanley set a goal in 2020 to achieve net zero financed emissions by 2050 and has released a series of interim financed emissions reduction targets for several high-emissions sectors, which it updated and expanded in its new report. Reflecting the current misalignment of the pace of decarbonization with a 1.5°C
Nationally Determined Contribution (NDC) under the ParisAgreement. NDCs are national climate action plans presented by each country under the agreement, and are required to be updated every five years with increasingly higher ambition. The new target is intended to form the basis of the U.S.
to the ParisAgreement on his first day in office after President Trump formally withdrew from the agreement in 2020. President Biden has made climate action a key focus of his administration, with high profile initiatives including returning the U.S.
The research, published in Nature Climate Change , assesses the impact of “overshooting” the aspirational goal of the ParisAgreement on the Amazon and Siberian forests. He tells Carbon brief that the authors selected “optimistic” pathways that “each have different relationships to the ParisAgreement goals”.
Wed, 09/16/2020 - 01:30. In order to manufacture products, companies in the industry sector must burn fuel, typically natural gas, to create heat. Interacting with the customer is especially important for the manufacturing industry, where production is profit, Gupta said. Startup tackles decarbonizing industrial heat processes.
Globally, jobs in the energy sector are projected to increase from 18 million today to 26 million in 2050 if the world cuts carbon to meet the well-below 2°C target set by the ParisAgreement , according to a model created by researchers in Canada and Europe. The new study was published earlier this summer in One Earth. Pai concurred.
Thu, 10/29/2020 - 00:10. are facing growing pressure to clean up their lobbying activity, with a host of institutional investors this week issuing an urgent call to 47 of the largest greenhouse gas emitters to disclose how their corporate advocacy aligns with the most ambitious climate goals of the ParisAgreement.
Thu, 12/10/2020 - 01:00. According to the International Energy Agency (IEA), more than $250 billion in financing went toward energy efficiency initiatives in 2019, but at least double that amount is needed by 2025 to keep the world progressing toward the mitigation goals of the ParisAgreement. Heather Clancy.
Mon, 09/28/2020 - 00:00. A global manufacturing company wanted to undertake a carbon pricing risk assessment to understand the current and potential future financial implications of carbon regulation and related price increases on operating margins. Seven ways to inform better decisions with TCFD reporting. Steven Bullock.
Wed, 05/13/2020 - 02:57. year planning process, aren’t officially science-based targets but they are "more aggressive" than the 2 degrees Celsius reduction scenarios suggested by the ParisAgreement, according to ADM’s chief sustainability officer, Alison Taylor. Watch for ADM to pioneer biofuels, more carbon capture projects.
Thu, 08/13/2020 - 02:15. To transform basic inputs into stuff we need, manufacturers constantly heat (and cool) minerals, ores and other raw materials to extreme temperatures. Watch out for more news in this space at CRS’ Renewable Energy Markets 2020 , convening online for free Sept. Manufacturing. Adam Aston.
The summit brought together delegates from over 190 countries to negotiate the post-2020 Global Biodiversity Framework , the implementation of which will require a transformation in the way we produce, consume and trade goods and services that rely on and impact biodiversity. However, the risks from biodiversity loss are enormous.
Fri, 09/25/2020 - 01:00. From an emissions standpoint, Climate Week 2020 may go in the books as the greenest of all time. . Signatories agree to implement decarbonization strategies in line with the ParisAgreement. First stop: Climate commitments. Next stop: Climate action? Sarah Golden. Sessions and panels were virtual.
JPMorgan Chase announced updates to its interim financed emissions reduction targets for three carbon-intensive sectors, including Oil & Gas, Electric Power and Auto Manufacturing, raising the ambition for each to align with pathways required to achieve net zero by 2050.
C under the ParisAgreement. 1] In recent years, the semiconductor manufacturing industry has become recognized as a major and growing contributor to GHG emissions,[2],[3] which is prompting companies in the industry to declare GHG emissions reduction targets and timelines for achieving net zero emissions.
Sofidel The paper manufacturing Group, alongside Science Based Targets initiative (SBTi), is embarking on the pathway to reducing greenhouse gas emissions to as close to zero as possible along the entire value chain. From 2009 to 2020, Sofidel reduced direct CO₂ emissions ( carbon intensity ) into the atmosphere by 24%.
Despite these global challenges, Gildan continued its leadership in responsible apparel manufacturing and closed-off the year with strong ESG performance and further progress against its strategic initiatives. “We 68% reduction in waste clippings compared to 2020. 68% reduction in waste clippings compared to 2020. About Gildan.
Wed, 10/07/2020 - 02:01. Amid myriad social, health and political crises, business sustainability is alive and well and living the ParisAgreement. Tod Durst advanced to president from EVP at PolyQuest, which manufactures rPET, recycled plastic resins. New leaders at Patagonia, McDonald's, Netflix. Elsa Wenzel.
The new targets form part of the company’s commitment, announced in October 2020 , to align its financing activities with the goals of ParisAgreement, and to help clients navigate the challenges and capitalize on the long-term economic and environmental benefits of transitioning to a low-carbon world.
ESG ratings, which are applied to companies representing around 80% of market capitalization in 2020, have evolved in recent years to incorporate long-term financial risks and opportunities in investment decision making processes. Gulnara Aslanbayli is Executive Director of American Chamber of Commerce in Azerbaijan since 2020.
JPMorgan announced a commitment in October 2020 to align its financing activities with the goals of ParisAgreement, and to help clients navigate the challenges and capitalize on the long-term economic and environmental benefits of transitioning to a low-carbon world. The targets remain in place on the companys website.
For example, despite the disruption of the past 12-18 months, in its recent Renewable Energy Market Update, the International Energy Agency (IEA) said that, in 2020, annual renewable capacity additions increased 45 percent to almost 280 GW – the highest year-on-year increase since 1999. For example, under the ParisAgreement, the U.S.
In a bold move defined during the candidature phase, the Paris 2024 Committee pledged to halve carbon emissions compared to the average of London 2012 and Rio 2016. New tools have also been developed to estimate, track and manage the carbon footprint of every stage of the event, as set out by Olympic Agenda 2020.
Other business-related activities – such as releasing our content to theaters and via streaming services; employee commuting, corporate and production-related travel; and the manufacturing and distribution of our licensed consumer products – also result in indirect emissions, some of which we track as part of our GHG inventory.
SUMMARY: Aligned With the ParisAgreement and Approved by the Science Based Targets Initiative (SBTi), JetBlue Commits to Reduce Jet Fuel Emissions 50% Per Revenue Tonne Kilometer by 2035 From 2019 Levels. SOURCE: JetBlue Airways. Charting a path to net zero. Reducing Fuel Burn. Neste and World Energy.
Protect the Climate: By 2030, Dow will reduce its net annual carbon emissions by 5 million metric tons, or 15% from its 2020 baseline. Additionally, Dow intends to be carbon neutral by 2050, in alignment with the ParisAgreement. Dow operates 104 manufacturing sites in 31 countries and employs approximately 35,700 people.
In 2020, the Group obtained Science Based Targets initiative (SBTi) approval of its 2030 greenhouse gas emission reduction targets. Act For the Climate. Sofidel's sustainable approach has made it possible to significantly reduce the environmental impact of production.
AMD has even bigger plans looking ahead with a bold goal to achieve by 2025 a 30x increase in energy efficiency for AMD processors and accelerators powering servers for high-performance computing (HPC) and artificial intelligence (AI)-training, from a 2020 base year. iii] Our goal equates to?a a 97 percent?reduction v] [link] studies/tsmc.
C, aligning our long-term emissions mitigation targets with the aim of limiting temperature rise in accordance with the ParisAgreement. Renewable Energy- Continue to convert global manufacturing electricity footprint to renewable energy. Fugitive emissions from our owned and operated manufacturing sites. z International.
The factory is only one of many others expected to be constructed in the coming year, as part of China’s globally-leading PV manufacturing scheme. For the past decade and a half, China became the dominant player in the PV manufacturing field, after the sector received critical help from government subsidies back in 2004.
In addition, decarbonisation is not just an objective imposed by policies such as the ParisAgreement: with the right approach, it also creates tangible business opportunities that go beyond long-term financial savings. These include increased brand reputation, customer preference over competitors and attractiveness to investors.
The World Bank estimates that a carbon price of $50 to $100 per ton of CO2 is required by 2030 to meet the temperature goals of the ParisAgreement. million in 2020 to over 10 million in 2022. However, only the European Union, UK and New Zealand currently have prices within or above this range. Energy Storage – Pricey Metals.
Other binding targets include increasing the share of days with good air quality in cities up to 87.5% (from 87% in 2020) and increasing forest coverage to 24.1%. GtCO2e in 2020 and set to reach 13.2-14.5 The total installed capacity of wind and solar power reached over 530 GW by the end of 2020. billion kilowatts by 2030.
The difficulties of replacing fossil fuels will make it hard for the commercial air sector to reduce its greenhouse gas (GHG) emissions in line with the ParisAgreement as global consumer demand for continues to accelerate. . While manufacturers face a much lesser threat, the threat still exists. .
C ambition set by the ParisAgreement. Or smart manufacturing, where we can make much more efficient production lines. Solar panels were installed at Deutsche Telekom’s mobile site in Dittenheim, Germany during the second half of 2020.
Celsius target adopted in the ParisAgreement. At least 70% of global greenhouse emissions come from the materials economy – the industries responsible for the manufacturing, transport and disposal of products. Emissions from waste disposal (landfilling, incineration, etc.)
ºC temperature threshold set down in the ParisAgreement and the US is seeing extreme weather events like never before. A total of 28 disasters, including severe storms, wildfires, droughts and heatwaves, caused damages of at least $1bn each, compared to 22 such disasters in 2020. The whole of 2023 breached the 1.5
Currently, more than 40% of the world’s largest publicly traded companies have made net-zero commitments as of the end of 2022, up from 20% in December 2020 5. Sold equipment 55% of our 2022 GHG emissions came from the equipment sold to and used by food and beverage manufacturers. Corporate sustainability leaders have taken action.
Investors have been focused on other sectors such as utilities, oil and gas, and car manufacturing. A group of pension schemes recently took auto manufacturer Volkswagen to court over its refusal to disclose information about climate lobbying. But it is in the early stages of engaging on lobbying with banks, said Storey.
2020 has been a year for pausing and thinking about our existence on this planet. In this article, I’ll do a quick summary of 2020 and then present four sustainable business trends that could finally explode in 2021. 2020 Sustainability Summary. Besides, the business case for sustainability has only gotten stronger.
Around two-thirds (1,557) of cases have been filed since the ParisAgreement was established in 2015. The GRI’s fifth annual ‘Global Trends in Climate Change Litigation’ report found a total 2,341 climate change litigation cases had been filed, with 190 of those in the last 12 months.
This rises to 74% of companies in the apparel sector and 73% in manufacturing – widely regarded as sectors having the “most damaging impacts on nature – not assessing the impact of their value chain on biodiversity, according to CDP’s data. . Negotiations to finalise the GBF are due to take place in Montreal, starting on 7 December.
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