STRATEGY

IKEA Foundation to deploy €600m for climate solutions by 2025

The charitable arm of furniture manufacturer IKEA has released research examining what investments can deliver the biggest emissions reductions across key sectors. The IKEA Foundation’s research builds on its pledge to invest €600 million across various climate solutions. The analysis, unveiled at COP27, examines what consumption and production patterns need to change in order to deliver a 1.5°C world across energy, food and land use, industry, transport and buildings. Some high-impact opportunities identified include: providing financial support to deliver an inclusive energy transition, minimising methane emissions, investing in peatland restoration, shifting to plant-based protein, and strengthening value chains to reduce loss and leakage. In 2021, the IKEA Foundation committed to spend €1 billion on initiatives supporting the low-carbon transition within five years. (edie)

ETHICAL BUSINESS

UK B Corp community almost doubles to welcome 1,000^th member

Responsible business certification non-profit B Lab has announced the number of certified B Corps in the UK has almost doubled in the past year, rising from 564 to pass the 1,000-member mark. To qualify as B Corps, businesses have to formally change their governance structure to ensure they are accountable to all their stakeholders, not just shareholders. They also have to develop a strategy to enhance their positive environmental and social impact and commit to transparently report on progress, with certification requiring renewal every three years. Household names who have B Corp certification include Innocent Drinks, Jojo Maman Bebe, Baringa, Finisterre, Sipsmith and Simplyhealth. B Corp says certified companies have faster growth in turnover and employee headcount, greater levels of employee retention, engagement and diversity, and higher levels of innovation. (Business Green)*

TECHNOLOGY & INNOVATION

MARS: UN unveils plans to track methane emissions from space

The UN is set to launch a satellite system to detect methane ‘hotspots’, allowing governments and businesses to respond to instances in which large quantities of the greenhouse gas are released. Announced at COP27, the ‘Methane Alert and Response System’ (MARS) will be operated as part of the UN Environment Programme’s International Methane Emissions Observatory. It has secured funding from the European Commission, US government and the Bezos Earth Fund. Data collected by MARS will be publicly available and major emissions events will be relayed to those with the power to step in with remediation, including national governments, states and corporates. Data will be collected from the energy sector in the first instance with plans to collect data on methane from coal, waste and agriculture in the future. (edie)

INEQUALITY

Minority ethnic Britons’ educational success not reflected in pay

Most minority ethnic groups in the UK have made remarkable progress in educational achievement but “clear evidence” of discrimination remains in their pay and careers, according to a study. Published by think-tank the Institute for Fiscal Studies, the report found that most of the largest minority ethnic groups obtain English and maths exam results at least as good or better than those achieved by white British students in England, and are more likely than white teenagers to go on to university. However, that educational success “has not yet translated into better, or even equal, success when it comes to earnings”. The IFS also found fewer minority ethnic students admitted into the most prestigious universities or obtaining degree results as good as their white counterparts. (The Guardian)

NATURAL CAPITAL

Half of trees planted to restore degraded Asian forests don’t survive

On average, nearly half of the trees planted to restore tropical and sub-tropical forests do not survive more than five years, according to research on the outcomes of restoration projects. However, the survival rates varied greatly among sites and species, pointing to a need to tailor efforts to local factors. The study analysed tree survival and growth data from 176 restoration sites in Asia, where natural forests have suffered degradation. It found that on average 18% of planted saplings died within the first year, and the proportion rose to 44% after five years. Yet, at some sites, nearly 80% of trees were still alive after five years. The study also found that restoration efforts were less successful in fully deforested areas compared to areas where trees remained. (Eco-Business)

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