Top Stories

November 22, 2021


Bringing fashion industry to net-zero by 2050 'a $1trn investment opportunity'

The global fashion industry is currently on a 3oC temperature pathway and bringing it down to 1.5oC will take $1.04 trillion of investment in low-carbon solutions to dramatically improve resource efficiency, according to a new report co-authored by Fashion for Good and the Apparel Impact Institute. To reach a 1.5oC warming scenario the report estimates that, by 2050, over $639 billion will need to be invested across the value chain in existing low-carbon solutions. This includes investments in renewable electricity generation and procurement, energy-efficient heating and lighting, low-emission and zero-emission transportation, battery energy storage, improvements to building energy efficiency, and measures to reduce emissions on farms. It estimates a further $405 billion will need to be invested in emerging solutions, such as low-carbon fabric processing innovations, material innovations, chemical recycling and agricultural technologies. (edie)


Standards organisations, UN agencies launch sustainability impact

A broad group of sustainability standards and guidance-focused organizations and UN agencies announced the launch of the ‘Impact Management Platform’, an initiative aiming to coordinate and mainstream organisations’ sustainability impacts management practices and to navigate the reporting landscape. Founding partners include B Lab, CDP, Climate Disclosure Standards Board (CDSB), Global Reporting Initiative (GRI), the World Bank’s International Finance Corporation (IFC), Organisation for Economic Co-operation and Development (OECD), Principles for Responsible Investment (PRI), Value Reporting Foundation, UN Development Programme (UNDP), UN Global Compact (UNGC) and World Benchmarking Alliance (WBA), among others. Through the platform, the partners aim to identify opportunities to consolidate existing sustainability resources, work toward interoperability while collectively addressing gaps, and coordinate dialogue with policymakers and regulators to support the mainstreaming of impact management. (ESGToday)


HSBC, Tata, Macquarie urge governments accelerate green transition

The leaders of Indian conglomerate Tata Sons, HSBC Holdings and Australia's Macquarie have urged governments to get more involved in the green transition by providing incentives to develop new technology and help bring down costs. HSBC highlighted how the political move must come first to mitigate the risks the private sector had no control over, including changing political landscapes. Macquarie, the world's largest infrastructure investor, argued that governments can encourage private sector investments by supporting the process of funding and building new technology, such as hydrogen and carbon capture, and then exiting. Tata also pointed that public capital needs to precede private capital to achieve successful outcomes. Tata is working with Macquarie on the ‘Climate Finance Leadership Initiative’ in India in partnership with finance & media giant Bloomberg. (Reuters)


Only 1 in 4 UK suppliers asked for climate data by end-user businesses

Despite an increase in corporate commitments to net-zero supply chains, just 25% of the UK suppliers polled in a recent survey by software provider Ivalua stated that their buyers routinely ask for emissions information. The survey covered 300 global suppliers in the healthcare, financial, retail, IT, manufacturing, energy, transportation, logistics, tourism, marketing and professional services sectors. Just 24% of suppliers, and 25% of UK-based suppliers said their buyers regularly collect or request emissions data. Disclosure requests from end-user businesses were found to be even less common for other environmental topics including air pollution (22%), water stewardship (21%) and deforestation (20%). For many of these firms, 90% or more of their overall emissions footprint will lie in Scope 3 sources, making supply chain engagement crucial to meeting their targets. (edie)


New buildings in England to have electric car charging points from 2022

All new buildings in England will be required to install electric vehicle charge points from 2022. In a speech to the Confederation of British Industry (CBI), the UK’s prime minister will reveal plans to toughen up regulations for new homes and buildings. From next year developers on sites such as supermarkets and office blocks will be required to install electric vehicle charging points, in an attempt to help phase out the use of petrol and diesel cars before sales of them come to an end in 2030. The government expects the move to lead to 145,000 new charging points each year. Buildings undergoing renovations that leave them with more than 10 parking spaces will also be subject to the new measures. (The Guardian)



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