STRATEGY

Singapore exchange proposes mandatory climate-related disclosures

Singapore Exchange Regulation (SGX), Singapore’s stock exchange regulator, will require mandatory climate-related disclosures for listed companies as part of a roadmap to meet investor demand for greater commitments to tackle climate change. From 2022, all companies will need to disclose information in-line with recommendations from the Task Force on Climate-related Financial Disclosures (TCFD), according to the proposal published on Thursday. SGX also outlined an additional seven environment-related metrics for reporting, including absolute greenhouse gas emissions (GHG), energy and water consumption and waste generated. Issuers will need to consider GHG emission disclosure beyond Singapore’s national boundary. If a company fails to disclose the information, it must provide an explanation. SGX is the first exchange in Asia to propose mandating climate disclosures in accordance with TCFD recommendations (Eco-Business)

ENVIRONMENT / HEALTH

Air pollution is slashing years off the lives of billions of people globally

Air pollution is cutting short the lives of billions of people by up to six years, according to a report by the Air Quality Life Index, making it a far greater killer than smoking, car crashes or HIV/Aids. Researchers found the average global citizen loses 2.2 years of life with today’s levels of air pollution. Coal burning is the principal culprit, according to the report. India is worst affected, with the average citizen dying six years early, whereas China’s life expectancy is reduced by 2.6 years. Climate crisis-driven wildfires are also adding to air pollution. In central and west Africa, the impacts of air pollution on life expectancy are comparable to HIV/Aids and malaria, with the average person in the Niger delta losing nearly six years, and average Nigerian losing 3.4 years. (The Guardian)

RENEWABLE ENERGY 

Shell powers up plans to install 50,000 Ubitricity EV charging points

Oil and gas giant Shell has today announced a new goal to have 50,000 on-street electric vehicle (EV) charge posts installed across the UK by the end of 2025, following the launch of a new financing offer to help local authorities deploy chargers at scale. Following on from its acquisition of the UK’s largest EV charge point company, Ubitricity, Shell said it was working to deliver over a third of the 150,000 public chargers that the Climate Change Committee (CCC) has recommended should be installed by 2025. The UK government's Office for Zero Emission Vehicles currently meets 75% of the cost of installing on-street chargers through its On-Street Residential Charging Scheme. Shell will cover the remaining costs for local authorities looking to install Ubitricity charge posts “subject to commercial terms". (Business Green)

BIODIVERSITY

Up to half of world’s wild tree species could be at risk of extinction

Between a third and half of the world’s wild tree species are threatened with extinction, posing a risk of wider ecosystem collapse, warns the State of the World’s Trees report, the most comprehensive global stocktake to date. Botanist Gardens Conservation International’s report states that forest clearance for farming is by far the biggest cause of the die-off, followed by logging, commercial development and fire. The study found 17,510 species of trees are threatened (29.9% of known tree species), which is twice the number of threatened mammals, birds, amphibians and reptiles combined. The proportion at risk is likely to be higher with just 41.5% tree species confirmed as safe. Brazil – home to the most diverse forest, the Amazon – had the most (1,788) threatened tree species, followed by Indonesia, Malaysia and China. (The Guardian)

EMPLOYEES

More Canadian businesses to embrace vaccine mandates for workers

Last week Canada's five biggest banks said they would require employees working from their offices to be fully inoculated against Covid-19 and now some large Canadian businesses, including Shopify Inc, Sun Life Financial and Air Canada, have done the same. The vaccine mandates come as employees begin to return to the office amidst a growing fourth wave of coronavirus. Though hospitals and the Toronto police force are introducing mandates, many other companies have so far held off, or are not planning on requiring vaccinations, citing concerns over legal challenges. Pension funds Public Sector Pension Investment Board, Alberta Investment Management Corporation, British Columbia Investment Management Corporation, and OPTrust are still mulling over measures to bring workers back to their offices. (Thomson Reuters Foundation)