NATURAL CAPITAL

HSBC, BlackRock, Nestle to help design nature-driven risk framework

HSBC, BlackRock and Swiss Re are among the companies seeking to create a risk management and disclosure framework aimed at moving capital away from activities that damage nature. The Taskforce on Nature-related Financial Disclosures (TNFD) was launched in June to tackle nature loss, which it says poses significant risk to corporate and financial stability. Currently, senior executives from up to 35 companies, which also include Nestle, Citi and Holcim, are working on defining nature-related risks that could affect a company’s share price, such as deforestation or water shortages; assessing the available data, looking at current standards and metrics, developing the beta framework and pilot testing it, with an aim of creating the new draft framework for launch in early 2022. (Reuters)

CLIMATE CHANGE

Coffee bean price spike indicates climate-related trend

Global coffee prices are forecast to jump to $4.44 a kilogram this year, according to IBISWorld, after a July cold snap in a major arabica coffee-producing region of Brazil wiped out a third of the crop. While frosts are common in July and August, the suddenness and severity of the most recent event caught producers by surprise. Freezing temperatures struck in late July after an unprecedented Antarctic front resulted in snow falling in the hills and frost spreading across coffee trees in the Cerrado Mineiro region of Minas Gerais state, destroying entire crops. Climate-induced extreme weather events, increasingly volatile and frequent in Brazil, are a known long-term risk to crops like coffee, chocolate and wine grapes that require specific conditions to thrive. (The Guardian)

STRATEGY 

Walmart launches online platform to highlight sustainable products

Walmart has created a new online platform for shoppers looking to purchase more sustainable and healthier items that meet an array of recognised standards. The so-called “Built for Better” platform is designed to help customers identify products that are aimed at improving the planet or personal health. Icons on the platform will showcase more nutritious products, for example, that meet standards for products made without specific materials or ingredients customers may not want. These standards include Great for You, EWG Verified, Standard 100 by OEKO-TEX, made without parabens among others.  As for sustainability, the platform recognises more than 30 independent standards focused primarily on environmental benefits including Energy Star Certified, Rainforest Alliance Certified, Better Cotton Initiative and more. (Edie)

ENERGY

JetBlue to buy 1bn worth of sustainable jet fuel for New York airports

U.S. carrier JetBlue Airways has announced it will buy sustainable aviation fuel from bioenergy firm SG Preston for more than $1 billion and use it for flights from New York's airports. SG Preston will start delivering the fuel in 2023 over a 10-year period. JetBlue aims to convert 10% of total fuel usage to sustainable aviation fuel (SAF) —made from feedstocks such as used cooking oil and animal fat— on a blended basis by the end of the decade. JetBlue also said SAF will be blended with traditional jet fuel at an estimated 30% ratio. The move comes after United Airlines, earlier this month, outlined a purchase agreement for 1.5 billion gallons of SAF over 20 years from Alder Fuels. (Reuters)

DIVERSITY & INCLUSION

Home Depot invests $10 million in three diversity-focused VC funds

The Home Depot has announced investments totaling $10 million in three venture capital funds focused on promoting diversity, technology, and entrepreneurship. The venture capital funds include Base10 Partners’ Advancement Initiative, L’ATTITUDE VENTURES, and Plexo Capital. Base10Partners’s Advancement Initiative invests in pre-IPO companies with the goal of creating financial aid for 100,000 students at Historically Black Colleges and Universities. L’ATTITUDE VENTURES invests exclusively in U.S. Latino entrepreneurs that leverage technology to disrupt large and high-growth markets, whereas Plexo Capital invests in emerging venture capital fund managers and early-stage venture-backed companies. As part of the investment, Home Depot will work with each of the funds to provide feedback, mentorship, and industry expertise to diverse founders and entrepreneurs. The investments form part of Home Depot’s 2017 commitment of more than $45 million to organizations working to improve social equity. (ESG Today)

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