5 minute read: Blackrock GHG Reporting, Coca-Cola, Project Carbon, CMA CGM | from the desk of The Green Link’s team.
Op-Ed_
What’s the big deal about GHG reporting, anyway? | Larry Fink says we need to reduce greenhouse gas emissions – and report on them
Larry Fink’s 2022 letter highlighted the transition to net zero and the utter importance, now more than ever, of reducing greenhouse gas emissions – and reporting on those reductions. Blackrockis asking companies to set short-, medium-, and long-term goals, and to use frameworks such as TCFD (although companies can and should also consider GRI, CDP, and SASB) to disclose on this progress.
Analysts around the world have followed Fink’s message with analyses of their own. A big one? “IPOs that don’t meet ESG standards can expect a discount” (Tim Human, IR Magazine). “The inclusion of ESG data in the IPO roadshow has grown since the beginning of last year and is now a ‘must have,’ Martin Steinbach says. ‘Otherwise you don’t have access to those ESG investors, which are playing an important role in the IPO market.’
How’s the market changing?
Last year saw the highest capital flows to date, topping $649 billion into ESG-focused funds globally (Refinitiv Lipper). Sustainable funds now make up 10% of all global fund assets. This is great news. So what’s the catch?
Many companies have not truly made their action against climate change meaningful or sustainable. The tree planting endeavours we read about? Where are those trees planted and are they being maintained for optimal carbon capture over their lifespans?
How about energy emissions reductions? How are these emissions being reduced, and why? Is it on account of customers buying carbon offsets, or the company coming to natural closure periods of their sites?
While there is a big drive from the finance industry to make moves on ESG performance, there is a very real risk that companies greenwash their effortsand hit the bare minimum targets to meet the requirements and expectations of investors in the field.
If you are wondering what your company can do to operationalize your climate goals, reach out to The Green Link. We procure clean technologies for lockstep solutions into your supply chains, to sustainably and meaningfully reduce your carbon footprints.
In the news_
[Coca-Cola]
The Cola-Cola corporation has announced it will aim for 25% of its packaging globally to be reusable by 2030.
[Project Carbon]
CIBC, Itaú Unibanco, National Australia Bank and NatWest Group have been joined by UBS, BNP Paribas, and Standard Chartered to develop a new technology platform, called Carbonplace, to provide infrastructure to enable the reliable, secure, and scalable trading of voluntary carbon credits.
[Global shipping group CMA CGM]
Will stop transporting plastic waste on its ships from June 1, 2022 in its bid to help curb pollution. As one of the largest container lines, the company said it currently carries the equivalent of about 50,000 standard containers of plastic waste per year. Congratulations on the bold move!
