23-7月-2024
SBTi validates brewer Asahi’s net-zero targets
The Science Based Targets initiative (SBTi) approved Asahi Group’s goal to reach net-zero emissions across its entire value chain by 2040, as well as abating Scopes 1 and 2 by 70% and Scope 3 by 30% by 2030. This makes it the first Japanese company to earn that SBTi approval.
23-7月-2024
PepsiCo Europe, Yara to decarbonise crop production
PepsiCo and fertiliser company Yara announced a long-term partnership in Europe aimed at increasing nutrient use efficiency, boosting yields and reducing the carbon footprint of crops at large.
23-7月-2024
BrewDog to exit carbon market
Beer and pub company BrewDog is set to let its claim to be a carbon-negative brewery lapse from November. The company had previously purchased various nature-based credits to offset emissions from the production and distribution of its beer.
23-7月-2024
HSBC launches low-carbon infrastructure finance unit
The UK-headquartered bank launched HSBC Infrastructure Finance (HIF), a new business unit aimed at pursuing infrastructure investment and project finance advisory opportunities associated with the transition to a low-carbon economy.
23-7月-2024
UNIDO issues call for African JCM projects
The UN Industrial Development Organization (UNIDO) issued a call to identify African projects interested in registering to generate carbon credits under Japan’s bilateral Joint Crediting Mechanism (JCM).
23-7月-2024
South Korea to allow for CCUS in ETS accounting
South Korea has circulated a proposal that would let carbon dioxide removed through carbon capture, utilization and storage (CCUS) be deducted from company emission accounts under the nation’s emission trading scheme.
23-7月-2024
Bristol Myers Squibb sees decarbonisation targets approved
Pharmaceutical major Bristol Myers Squibb announced that the SBTi had approved its goals to reach net-zero emissions across its value chain by 2050 and to reduce emissions by 54.6% across all scopes by 2033.
23-7月-2024
Xpansiv CBL to launch CCP-standardized contracts
Xpansiv group exchange CBL will launch a new set of standardised contracts aligned with the Core Carbon Principles of the Integrity Council for the Voluntary Carbon Market (ICVCM). These are aimed at enabling the delivery of CCP-approved credits from the ACR, CAR, and Verra registries.
23-7月-2024
New Zealand may miss 2035 emission target
New Zealand’s carbon dioxide emissions in the five years to 2035 are expected to be 7% higher than targeted, despite the country being on track to meet its 2030 goals. This is according to a discussion document on the second emissions reduction plan, released by the Ministry for the Environment.
23-7月-2024
Verra pauses review of new methodologies until 2025
Verra will pause the review of new Methodology Idea Notes (MINs) until the first quarter of 2025 as it implements changes to its review process. Exceptions may be made for proposed revisions that would significantly strengthen the integrity of an existing methodology.
23-7月-2024
Havas has B Corp certification revoked
B Lab, the non-profit that awards certifications to companies that meet high standards of environmental and social governance, has revoked the B Corp status of four branches of PR firm Havas. The move follows the securing last year by other parts of the Havas group of a media account with oil & gas group Shell.
16-7月-2024
UK removes ban on onshore wind, unveils rooftop solar plan
The UK government has lifted a de-facto ban on onshore wind projects in England, and has committed to double the capacity of that technology in Britain by 2030. It also unveiled plans for a significant expansion of solar panel installations on homes across the country.
16-7月-2024
EPA reaches USD 241m settlement with Marathon Oil
The US Environmental Protection Agency (EPA) and the Department of Justice announced a settlement with Marathon Oil requiring the company to pay penalties and to invest in compliance measures worth USD 241m. This follows illegal pollution at some 90 of Marathon’s facilities.
16-7月-2024
Court overturns Rimba Raya permit’s revocation
The Jakarta State Administrative Court ruled in favor of overturning Indonesia’s revocation of the Rimba Raya REDD project’s license.
16-7月-2024
China limits approvals for coal-based iron and steel projects
China put limits on coal-based steelmaking projects in the first half of this year, according to Helsinki-based Centre for Research on Energy and Clean Air.
16-7月-2024
Asda drops its 2040 emissions target
Asda’s 2023 environmental, social and governance report (p22) shows that the supermarket group has scrapped its goal of reducing absolute emissions across all scopes by 90% by 2040, just months after it was validated by the Science-Based Targets initiative (SBTi). Asda states it will resubmit its targets to SBTi at a later date.
16-7月-2024
Microsoft and Frontier sign large DAC deals
Occidental Petroleum’s 1PointFive entered into an agreement with Microsoft for the purchase of 500k tonnes of direct air capture (DAC) removals over six years — the largest purchase of its kind to date. Meanwhile, Alphabet’s 280 Earth secured a USD 40m deal with buyer consortium Frontier for some 61.5k tons of removals.
16-7月-2024
SBTi calls for pilots of its Financial Institutions Net-Zero Standard
The Science-Based Targets Initiative is calling for participants to assist the development of its Financial Institutions Net-Zero (FINZ) Standard by pilot-testing it.
16-7月-2024
Amazon highlights progresses on climate sustainability
Amazon released its latest Sustainability Report, highlighting a year-on-year decrease in emissions (in contrast to the growth in emissions due to AI activity seen at Microsoft and Google, the other two large cloud providers). The company also put an increased emphasis on carbon removals, and launched the Amazon Sustainability Exchange in attempt to support other companies’ transition.
16-7月-2024
Google no longer claims carbon neutrality
In its 2023 Environmental Report, Google said that its emissions have risen 48% from 2019 levels (p31), and that, for the first time since 2007, it is no longer targeting annual operational carbon neutrality (p40). It is choosing instead to focus on scaling up the use of both tech-based and nature-based removals.