Top Stories

April 16, 2021


Mars, PepsiCo and McCormick launch new supply chain climate programme

Food and beverage giants Mars, PepsiCo and McCormick have launched a coalition aimed at encouraging suppliers to reduce carbon emissions in alignment with climate science. Through the ‘Supplier Leadership on Climate Transition’, end-user corporates will help suppliers understand how greenhouse gas emissions can be measured and reduced in their own businesses by setting science-based targets and joining business commitments such as the RE100. Mars is currently engaging its largest 200 suppliers to decarbonise, of which 23 have set science-based targets or joined the RE100. Mars is now working with another 30 firms to enrol in the new supplier programme. Last year, PepsiCo joined the Climate Group's RE100 initiative, pledging to source 100% renewable electricity across its operations by 2030. Lessons from progressing against this target can be shared with suppliers. (Edie)


Apple unveils 'first of its kind' $200 million forestry restoration fund

Technology giant Apple has launched a "first-of-its-kind" $200 million forestry fund aimed at removing at least one million metric tonnes of carbon dioxide each year. The fund promises to scale and support projects that sequester CO2, improve biodiversity and adhere to "strict environmental and social standards". Launched in partnership with investment banking firm Goldman Sachs and green NGO Conservation International, the ‘Restore Fund’ aims to remove the equivalent of fuel used by over 200,000 passenger vehicles, and to demonstrate viable financial models that can help attract and scale-up wider investment from businesses in forestry protection and restoration efforts worldwide. The fund forms part of Apple’s target to become carbon neutral across its entire value chain by 2030. (BusinessGreen)


Citi and JPMorgan pledge multi-trillion sustainable investment by 2030

Global financial services company Citi has pledged to invest $1 trillion in sustainable initiatives by 2030, while investment bank JPMorgan has set a $2.5 trillion by 2030 investment goal to advance climate action and sustainable development, the largest commitment yet among its Wall Street peers. The bulk of each bank’s investments will go towards climate solutions, such as renewable energy and clean technology, water conservation and sustainable transportation, and accelerating the transition to a low-carbon economy. The banks are also focussing on areas including education, affordable housing, healthcare, economic inclusion, community finance, international development finance, racial and ethnic diversity and gender equality. The announcement follows a pledge last week by Bank of America to achieve $1.5 trillion in sustainable finance mobilization by 2030. (ESGToday 1; ESGToday 2)


Call for EU to introduce living wage legislation for garment workers

Gender equality NGO The Circle is calling on the European Union (EU) to introduce legislation which would encourage brands and retailers to ensure garment workers in their supply chains are paid a living wage. The NGO claims millions of garment workers – the majority of whom are women – are among the world's lowest paid workers. It argues that the statutory minimum wages in most major garment-producing countries is less than half of what is needed to meet basic needs, and that nearly all due diligence statements from large retailers admit that only the statutory minimum wage is paid. The proposal asks the EU to publicly list the countries paying wages too low to sustain basic necessities, which should incentivise companies to produce their garments and footwear in countries paying above minimums. (Just-Style)


RE100 initiative hits 300 members as Heineken and Novartis join

Corporate clean energy initiative RE100 now boasts 300 members after Dutch brewer Heineken, Japanese electronics company Epson, global healthcare firm Novartis and battery manufacturer LG Energy Solution pledged to switch their operations to renewables. RE100 is a coalition of companies committed to purchasing 100% renewable power, launched in 2014 to drive corporate uptake of renewable energy. The new cohort of members means nearly 320 trillion-watt hours of corporate electricity around the world is set to switch to renewable sources in the coming years – equivalent to the electricity consumption of Australia and Italy. The group’s growth has been driven by the falling costs of renewable energy generation and soaring corporate awareness of the impacts of climate change in recent years. (BusinessGreen)


Thursday, 6th May 2021

Worker Health & Wellbeing: A Material Sustainability Issue for Business