STRATEGY

Most electric utilities and carmakers are not in line with 1.5C

Just 7% of large carmakers and 2% of large electric utility firms are decarbonising at the pace required to avert the worst impacts of the climate crisis, according to a major new analysis of 80 corporates by the World Benchmarking Alliance, CDP and ADEME, the French Environment and Energy Management Agency. In the electric utilities space, almost all (98%) companies were operating in a manner inconsistent with the Paris Agreement’s 1.5C temperature pathway. Only Orsted was found to be on track for keeping within its 1.5C carbon budget through to 2035. In the automotive sector, only two of the 30 companies – Tesla and Renault – are operating in line with 1.5C and have credible plans to stay within their carbon budget through to 2035. Some of the companies falling furthest behind include Honda, Mahindra & Mahindra, Mazda, Subaru, Suzuki, Ford and Toyota. (edie)

SUSTAINABLE FASHION

Google to help fashion brands map ESG supply chain risks

Google has partnered with conservation group World Wide Fund for Nature (WWF), fashion label Stella McCartney and non-profit The Textile Exchange to develop the Google Impact Fibre Explorer, a tool aimed at enabling companies to identify the biggest risks associated with more than 20 fibre types in their supply chains, including synthetics. Environmental factors such as air pollution, biodiversity, climate and greenhouse gasses, forestry and water use are calculated to produce risk ratings. The tool will also provide brands with recommendations for targeted and regionally specific risk reduction activities including opportunities to work with farmers, producers and communities. During a pilot phase, British fashion house Stella McCartney was able to identify cotton sources in Turkey that are facing water stress. (Eco-Business)

REPORTING 

New climate disclosure framework to help SMEs on net-zero

CDP and the SME Climate Hub have launched a new framework to help SMEs measure, report and reduce their climate impacts, amid growing concerns that they are facing numerous decarbonisation barriers that do not impact large firms as much. The tool will help SMEs in all sectors to measure and report their own Scope 1, 2 and 3 emissions. Also included in the tool are the definitions for more complex emissions and climate terminology, plus tailored advice for reducing emissions in line with climate science, taking into account SMEs’ size and sector. The creators of the framework have stated that more and more SME suppliers are being asked to measure, report and decrease their emissions by the large companies who source from them. (edie)

CLIMATE CHANGE

Cop26 president: UK to press governments to stick to climate pledges

The UK will continue to press governments around the world to cut greenhouse gas emissions urgently in the next year to limit global heating to 1.5C, after the UN climate talks that concluded last week, the president of the summit has pledged. Alok Sharma, the cabinet minister who led the Cop26 talks, said the world had shown in Glasgow that countries could work together to establish a framework for climate action but the next year must focus on keeping the promises made there. The lack of any policing process or sanctions for countries that fail to revise their national targets on emissions, known as nationally determined contributions (NDCs), means that the main ways of holding governments to account are through public scrutiny and political pressure. (The Guardian)

RENEWABLE ENERGY

Australian parliament clears way for offshore wind farms

Australia's parliament passed legislation setting a framework for developing offshore wind farms and transmission lines, in a big boost to several multibillion-dollar proposed projects as the country looks to replace coal-fired power. Projects that have been awaiting the new laws include the 2.2 gigawatt Star of the South wind project off the coast of Victoria and Sun Cable, which plans to deliver solar power via an undersea cable from the Northern Territory to Singapore. Locations identified by Australia's energy market operator as ideal for offshore wind farms happen to be near industrial hubs that currently rely on coal-fired power. In related news, the Victoria state government recently announced A$40 million ($29 million) in funding for three offshore wind project developers – Star of the South, Macquarie Group and Flotation Energy. (Reuters)

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