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At a time when climate related risks are posing a challenge to businesses, 86 per cent of organisations in India recognise the significance of sustainability in shaping business strategies, but only 16 per cent have prioritised sustainability goals and built them on real facts and data, IT infrastructure services provider Kyndryl and Microsoft stated in a joint study.
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The European Parliament has voted to adopt the Corporate Sustainability Due Diligence Directive (CSDDD), following months of negotiations between the European Union (EU) institutions and member states.
“Ensuring that corporations take responsibility for preventing and managing the environmental, labour, and human rights impacts of their supply chains is key to global sustainable development efforts. The adoption of the CSDDD is a step in the right direction”, Suzy H. Nikièma, Director of Investment at the International Institute for Sustainable Development (IISD) said.
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Having a well-defined sourcing policy demonstrates a retailer’s commitment to sustainability, while mitigating the risk of the reputational damage associated with unsustainable practices, particularly in the palm oil supply chain.
One of the most effective ways for retailers to ensure the sustainability of their palm oil supply chain is by partnering with organisations like the Roundtable on Sustainable Palm Oil (RSPO).
More than 80 retailers worldwide have joined the RSPO since its inception in 2004, with over half headquartered in Europe. Within the region, British, Dutch and German retailers are leading the way.
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Starting in April 2024, The Yokohama Rubber Co., Ltd. is using the RubberWay Geo-Mapping risk assessment tool to bolster its sustainable procurement practices. By adopting this technology, Yokohama Rubber aims to enhance the traceability of natural rubber throughout its supply chain, aligning with the recommendations of the Taskforce on Nature-related Financial Disclosures and ensuring compliance with the upcoming EU Deforestation Regulation.
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Various environmental, social and governance (ESG)-related funds from Abrdn, Morgan Stanley and UBS have recently been renamed to omit sustainability-related phrases.
In addition, according to data from Morningstar Direct cited by the FT, launches of environmental, social and governance (ESG)-related funds have been steadily declining, with only six launched in the second half of 2023 compared to an average of nearly 100 a year between 2020 and 2022.
The trend follows a ruling from the SEC in September 2023 that 80% of assets in funds must be related to the name.
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A collaboration between aquaculture technology specialists Ace Aquatec and start-up Tiny Fish aims to advance the Scottish salmon industry’s circular economy by helping the sector gain access to new premium food markets for its smallest fish.
Scottish salmon farms have an approximate monthly survival rate of 97 to 99 percent throughout their lifecycle, with the fish lost each month commonly being composted. However, through their new collaboration, Ace Aquatec and Tiny Fish hope to alter this fate, culling smaller fish and marketing them as a premium food product.
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As increasingly tighter rules aim to address environmental concerns, businesses face mounting pressures to meet these new sustainability targets.
This year’s InCosmetics Global trade show housed a dedicated Sustainability Zone to help beauty and personal care companies navigate the ever-changing rules, as they continue their journey to become more sustainable throughout their supply chains.
According to Dr Barbara Olioso from The Green Chemist Consultancy – who was moderating and overseeing the Sustainability Zone – it’s a challenging topic for businesses and more collaboration could very be helpful.
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Chinese automaker Chery Automobile Co., Ltd. ("Chery Automobile") officially joined the UN Global Compact on March 31, 2024, following a review by the United Nations Global Compact organization, the company announced on April 15 via its WeChat account.
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Apple has published its annual environmental report detailing its progress towards becoming completely carbon neutral by 2030. While critics will, of course, condemn the report as “greenwash,” it’s hard to identity many other big firms working quite as hard to be so transparent across the impact of their business.
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Thursday, May 23 11:00 AM - UTC - Online AI is helping organizations reshape business processes and innovate in a sustainable way. Join Microsoft and partners to learn about proven solutions that provide critical insights to help you achieve your sustainability goals through operational efficiency, environmental awareness, and regulatory compliance.
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Sustainability Magazine recognises the top organisations in the automotive industry and their strategies for ESG and reducing climate change contribution While seemingly a thankless task to rank companies based on their sustainability credentials, we endeavour to recognise the great achievements of the major industries and their strategies towards carbon neutrality.
With that said, the automotive sector is one where strategy is key at the moment and here are 10 organisations in the auto industry with big plans to change the way we drive.
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Expendable packaging, as per a recent report, may serve a vital role in international shipping and act as a backup for returnable packaging.
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In the wide-ranging Food and Beverage industry, global trends are increasingly important. As cultures intertwine and borders blur, the industry must cater to a palate that is constantly evolving and universally connected.
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The treatment of animals rates higher than green issues when consumers choose meat and dairy products.
That's according to a new study, which suggests that while consumers consider sustainability important, other factors such as taste, quality, and animal welfare take precedence in their purchasing decisions.
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While financing of deforestation has been business-as-usual for decades, there are signs of change. Leading financial institutions are beginning to chart a way forward, while laggards ignore escalating risk at their peril.
This risk ties back to negative impacts on the ground. When exposed to environmental and social harms in their operations or supply chains, companies can face legal, market, operational, regulatory and reputational risks that threaten financial performance. For financial institutions, having risky companies in their portfolios can translate into negative returns on investments, defaults on loans or losses due to stranded assets.
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Microsoft has adopted more than 80 measures to counteract a 29.1 percent increase in its greenhouse gas emissions since 2020, predominantly driven by its new data centers.
The company‘s Scope 1 and 2 emissions — those closely tied to the company’s operations, manufacturing and use of power — have decreased 6.3 percent since the 2020 baseline. However, its Scope 3 output (indirect emissions from customer purchases and other supply chain categories) climbed 30.9 percent in the same period.
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Private market funds may soon need to open their books to scrutiny regarding their ESG performance, and many industry players are welcoming the change.
“I’m looking forward to seeing more disclosure and transparency in the private markets,” said Bonnie Foley-Wong, Canada sustainable investment leader with Mercer (Canada) Ltd. in Toronto. “Investors are asking for that and it will certainly help in terms of whole-portfolio management.”
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Some asset managers are retreating from their public ESG commitments due to so-called ‘greenhushing’ suggests a report into ESG investing in private markets.
The report, ‘The State of Private Market ESG and Impact Investing in 2024’, was published by PitchBook, a market data provider for the private equity and venture capital markets.
It found that firms are no longer prioritising some of their ESG and impact investing programs for fear of a backlash from opponents of green and sustainable investment strategies or for fear of reputational damage amid claims of greenwashing.
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Nestlé Purina utilises a variety of fish and seafood items, sourced from around the world and is the first GSSI partner from the petfood industry to join the global partnership network.
A high proportion of the seafood ingredients in Purina’s products are seafood sidestreams - those parts of the fish remaining after fillet removal. Despite this, the company believes that it can further expand its use of responsibly managed and sourced seafood and has set a goal for the ingredients in its products to be 100 percent responsibly sourced by 2030.
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The Conservation Alliance for Seafood Solutions - an NGO aiming to facilitate communication and collaboration between conservation organisations and seafood industry players - has published a new set of guidelines, seeking to help members of the seafood industry overcome environmental and social challenges at all points of the supply chain.
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Last month, the U.S. Securities and Exchange Commission adopted new climate disclosure rules that require public companies to take a proactive and transparent stance on climate change’s impact on their stakeholders. The rules aim to support business models that can thrive in a low-carbon economy, contributing to overall sustainability and weather-resilient businesses.
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More burdensome sustainability regulations will inevitably affect a company’s supply chain team. For example, a company’s greenhouse gas performance will depend upon not only a company’s emissions in the supply chain they directly control, but also how their suppliers, contract manufactures, and carriers perform. Similarly, making sure human rights are respected across an end-to-end supply chain is something that companies will struggle to accomplish. Getting visibility across an n-tier supply chain is no easy task. In light of this, recent EU regulations are something that supply chain professionals need to pay attention to.
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The automotive sector finds itself amidst a notable transformation driven by technological advancements prioritizing environmental sustainability and energy efficiency. This evolution is reflected in a growing trend towards alternatives seeking to replace the internal combustion engine, known for its high pollutant emissions and contribution to climate change.
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Tata Motors, a leader in automotive innovation, recently presented its futuristic solutions for mobility at EXCON 2023, emphasising the need for sustainable commercial vehicles. With a focus on green technologies, Tata Motors has greatly boosted its investments in electric and hybrid vehicles.
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Recent research found that Gen Z shoppers prioritise taste, value and affordability, as well as social justice-driven causes like sustainability and animal welfare. This means brands have the opportunity to strike a balance between creating the climate-conscious products Gen Z consumers crave at prices they can afford. Barak Bar-Cohen, founder and CEO of Sojo Industries, discusses how F&B companies can start adding climate-responsible practices into every part of the product life cycle, from manufacturing to packaging.`
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