Top Stories

July 12, 2022


8 in 10 meat & dairy investors fear stranded assets due to climate

A survey of 200 investors has revealed that 79% expect climate change to have a ‘significant’ or ‘moderate’ impact on investment opportunities in the meat and dairy sector. Conducted by campaign group the Changing Markets Foundation, 84% of respondents agreed that a lack of climate mitigation could lead to stranded assets in the meat and dairy sector. Of those interviewed, 61% called this risk “a distinct possibility” and a further 23% classed it as “very likely”. Similar analysis from investor coalition FAIRR predicted that the climate crisis will wipe 20% off the global value of the beef industry, and 7% off the value of the dairy industry by 2050. Changing Markets called on investors to push for better climate adaptation and mitigation plans from food companies, including science-based emissions goals covering methane and carbon dioxide. (edie)


UK infrastructure providers failing to tackle climate risks, CCC warns

The UK's electricity, digital, water, transport, gas, road, and airport operators are struggling to account for the risk climate change poses to connected infrastructure systems, according to a warning by the Climate Change Committee (CCC). Under the Climate Change Act, the UK’s critical infrastructure providers are requested to submit a voluntary report on the existing and future risks climate change poses to their organisation. An assessment of the submissions notes the quality of reporting has improved since the last round in 2016. However, the CCC warned progress is being undermined by inconsistent reporting on adaption across organisations, gaps in coverage, and unhelpful publication timings. One in five organisations did not submit a return, creating gaps in risk coverage, and less than 5% of the reports were submitted in time. (Business Green)*


Lewis Hamilton states that F1 diversity charter remains unsigned

Mercedes Formula 1 star Lewis Hamilton says he is disappointed that teams are yet to sign a charter designed to improve inclusion and diversity in the sport. Hamilton has formed his own foundation, Mission 44, aimed at increasing access to education and opportunities for underrepresented communities and has pushed for the sport to improve its efforts to tackle inequality. Speaking before the British Grand Prix, Hamilton – the only Black driver on the grid – revealed he wanted to see actions rather than words in response to instances of racism and discrimination. The comments follow an instance of racially charged language directed at Hamilton by three-time world Formula 1 champion Nelson Piquet. Hamilton concluded, “it’s not good enough for lip service, we need to push for action”. (The Independent)


Survey: Britons dispose of nearly 100bn pieces of plastic annually

UK households throw away nearly 100 billion pieces of plastic packaging a year, according to a survey by climate NGO Greenpeace. The ‘Big Plastic Count’ results – one of the largest voluntary research projects into the scale of plastic waste – show that only 12% of the single-use packaging used by households is sent for recycling. Nearly 250,000 people from almost 100,000 households took part in the survey. By far the largest proportion of plastic waste, at 83% of total waste, was from food and drink packaging, with the most common item being fruit and vegetable packaging. The survey found that 97,948 households across the UK counted 6,437,813 pieces of plastic packaging waste. On average, each household threw away 66 pieces of plastic packaging in one week, which amounts to an estimated 3,432 pieces annually. (The Guardian; BBC News)


Germany enshrines 80% renewable electricity target into legislation 

Germany’s Federal Council has passed a series of laws approving a major increase in renewable energy development over the next several years, including a target for renewables to meet 80% of electricity demand in the country by 2030. The legislation forms a major part of the new German government’s clean energy strategy, which aims to accelerate Germany’s phase-out of coal by several years and support the transition to an economy powered largely by renewable energy in order to reach a 2045 climate neutrality target. The package includes plans for onshore wind power to reach 115 GW of capacity by 2030, solar to more than double to 215 GW by 2030, and offshore wind to reach 70 GW of capacity by 2045. (ESG Today)

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