REPORTING

UK firms urge government to make net zero strategies mandatory

Major UK companies and financial institutions collectively responsible for over £4.5 trillion in assets have called on the UK government to make disclosure of net zero transition plans a mandatory requirement for large firms. The signatories – including BT, Kingfisher, Tesco, Aviva, Legal & General, Mitie, and Santander – argue transition plans are crucial for firms and financial institutions to decarbonise. They warn that so far only one fifth of FTSE 100 entities have voluntarily published net zero targets and plans to date. The letter urges the government to provide greater clarity on how the imminent mandatory TCFD reporting requirements will cover transition plans and other net zero-related disclosures, arguing that net zero transition plans should be made mandatory for large companies by 2025. (Business Green)

STRATEGY

Mars pledges net zero emissions across all value chain by 2050

Confectionary and pet food giant Mars has announced its new science-based commitment to achieve net zero greenhouse gas (GHG) emissions across its full value chain by 2050, aligning with the Paris Agreement’s goal to limit global temperature rises to 1.5 °C. The company will focus on absolute emissions reductions across its entire business footprint including all scope 3 emissions, eliminating deforestation in its supply chain, and transitioning to 100% renewable energy.  It will link executive pay to delivering GHG value chain emission reductions, and challenge its over 20,000 suppliers to take climate action and set meaningful targets. The announcement builds on the Mars Sustainable in a Generation Plan, advancing its previous pledge to cut emissions in its full value chain by 67% by 2050. (Financial Times*, PR Newswire)

COLLABORATION 

Cement makers across world pledge large cut in emissions by 2030

Cement makers around the world have pledged to cut their greenhouse gas emissions by up to a quarter this decade and reach net zero by 2050, marking the first-time major producers have made a public climate commitment. The pledge was made by the Global Cement and Concrete Association, which represents 40 of the world’s biggest producers and 80% of the industry outside China. The companies have pledged to reach net zero without offsetting and without being dependent on actions from government, though the industry would prefer countries to set a carbon price and to develop policies to accelerate the process. The cuts in emissions this decade would be made using existing technologies, and would later require carbon capture and storage technology, not yet in widespread commercial use, for 2030-2050 aims. (The Guardian)

GENDER EQUALITY

Lego to remove gender bias from toys after child survey findings

Global toy manufacturer Lego has announced it will work to remove gender stereotypes from its toys after a global survey it commissioned from the Geena Davis Institute on Gender in Media found that gendered attitudes to play remain unequal and restrictive. The study found that parents still encourage sons to do sports or STEM activities, while daughters are offered dance, dressing-up or baking. As such, girls may be missing out on developing spatial skills and problem solving and boys on nurturing skills to prepare them for later life. Researchers also found that while girls were being encouraged to play with ”boys’ toys”, boys were still shamed if they played with “girls’ toys”. Lego will continue to work with the Geena Davis institute to “address gender bias and harmful stereotypes”, working to remove gender bias from its lines. (The Guardian)

CIRCULAR ECONOMY

Adidas launches take-back platform to reuse and resell sportswear

Global sportswear brand Adidas has unveiled a new take-back scheme for old running shoes and sports garments, regardless of brand, in a bit to improve the circularity of the sector. Users can send used products from any brand to Adidas via its Creator’s Club app. The products will be handled by second-hand retailer thredUP’s Resale-as-a-Service (RaaS) platform to ensure they are resold where possible, or reused into other products. To participate, consumers can generate a “Clean Out Kit” prepaid shipping label through the app to send back gear, earning rewards for doing so. The new programme will build on Adidas’ ambition to use 100% recycled polyester in its products by 2024. (Edie)

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