Shell accused of strategy risking catastrophic climate change
Shell has been accused of pursuing a strategy that would lead to potentially catastrophic climate change after an internal document acknowledged a global temperature rise of 4C, twice the level considered safe for the planet. A paper used for guiding future business planning at the Anglo-Dutch multinational assumes that carbon dioxide emissions will fail to limit temperature increases to 2C, the internationally agreed threshold to prevent widespread flooding, famine and desertification. Instead, the New Lens Scenarios document refers to a forecast by the independent International Energy Agency (IEA) that points to a temperature rise of up to 4C in the short term, rising later to 6C. The revelations come ahead of the annual general meeting of Shell shareholders in the Netherlands on Tuesday, where the group has accepted a shareholder resolution demanding more transparency about the group’s impact on climate change. (Guardian)
Unilever boss urges world leaders to reduce carbon output
The head of Unilever has called on world leaders to raise their game in the battle against climate change. Chief executive Paul Polman said governments must set clear CO2 targets to force low-carbon innovation. Speaking ahead of a business climate summit in Paris this week, he urged fellow chief executives to help create a “political licence” for politicians to promote clean energy. But firms dependent on cheap fossil fuel energy are unlikely to agree. “It’s clear that, increasingly, the business community is aware of the costs of climate change. Momentum is swinging towards people realising that we need to take urgent action to stay below two degrees [as an increase in global average temperature],” Mr Polman told BBC News. He said there had been a “long dance” between politicians and chief executives over who should take the lead on cutting emissions. “The reality is, if we don’t tackle climate change we won’t achieve economic growth.” (BBC News)
Waste
London’s social supermarkets to reduce food waste
London could be set for a wave of ‘social supermarkets’ that reduce food waste by selling surplus stock at much lower prices than the high street, thanks to £300,000 of new funding from Mayor Boris Johnson. Boroughs across the capital can apply for a share of the fund, which will go towards the development of pilot supermarkets aimed at local families on lower incomes, in a bid to tackle the rising problem of food poverty. To make the announcement, the Mayor paid a visit to London’s first social supermarket – Community Shop in Lambeth. The store, which works on a membership basis for people on income support, sells residual stock that would be thrown away by major retailers for up to 70% less than the original price. More than 4.1 million tonnes of food is wasted in the UK grocery retail supply chain each year. (Edie)
Technology & Innovation
New calculator aims to make business sustainability choices simpler
A new calculator coming out in June aims to aid clarify the sustainability decision-making process and make it easier for companies to identify the economic and environmental impacts of their products and services – and adjust their operations accordingly. “We use existing company data to calculate greenhouse gas emissions, water and energy consumption, as well as solid waste,” says Sally Paridis, CEO of New York consulting firm CoClear, which developed the calculator in collaboration with Columbia University. “We also track the company cost associated with these metrics, making it easier to identify efficiency opportunities.” The calculator can analyse a single product, a brand or a company’s entire portfolio, and can quickly show users the impact of switching to alternate ingredients or different packaging. “We can run an analysis of the difference that a substitute would have, both financially and environmentally, on the product life cycle,” Paridis says. (Guardian)
Responsible Investment
Norway urged to divest state pension fund from coal
Norway has been urged to fully divest its US$900 billion state pension fund from coal. Its parliament will decide on 5 June whether to give the fund a mandate to shed its coal holdings. The move would improve the fund’s financial performance as well as addressing environmental concerns, according to the Institute for Energy Economics and Financial Analysis (IEEFA). “Norway’s leadership is to be applauded for its efforts to rid itself of a losing financial proposition and the threat coal poses to the environment and climate,” author Tom Sanzillo said. “They are willing to expand the dialogue and are serving as a model of openness and transparency.” The fund sold its stakes in 49 companies last year, mainly in coal and gold mining, on sustainability grounds. Coal is the worst performing sector in the world’s economy, the IEEFA report argued, and best avoided altogether. (RTCC)
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