David Baxter

I’m shocked: BP is prioritising profits over sustainability 🙄. In case anyone is in doubt despite decades of evidence, these corporations can’t be greened, and if we are to take genuine climate action they will need to deprivatised and wound down. “BP (BP.L), opens new tab has abandoned a target to cut oil and gas output by 2030 as CEO Murray Auchincloss scales back the firm's energy transition strategy to regain investor confidence, three sources with knowledge of the matter said. When unveiled in 2020, BP's strategy was the sector's most ambitious with a pledge to cut output by 40% while rapidly growing renewables by 2030. BP scaled back the target in February last year to a 25% reduction, which would leave it producing 2 million barrels per day at the end of the decade, as investors focused on near-term returns rather than the energy transition. The London-listed company is now targeting several new investments in the Middle East and the Gulf of Mexico to boost its oil and gas output, the sources said. Auchincloss took the helm in January but has struggled to stem the drop in BP's share price, which has underperformed its rivals so far this year as investors question the company's ability to generate profits under its current strategy. The 54-year-old Canadian, previously BP's finance head, has sought to distance himself from the approach of his predecessor Bernard Looney, who was sacked for lying about relationships with colleagues, vowing instead to focus on returns and investing in the most profitable businesses, first and foremost in oil and gas…. Rival Shell has also slowed down its energy transition strategy since CEO Wael Sawan took office in January, selling power and renewable businesses and scaling back projects including offshore wind, biofuels and hydrogen.” https://lnkd.in/gsEFFBKm

77

43 Comments

The National Audit Office has issued its report on progress with the statutory BNG scheme, a report which echoes many of the concerns raised by consultants, clients and Local Government. The words "Defra does not yet" feature repeatedly and its conclusions on a functioning market, on monitoring, on local authority capacity for enforcement and on #DEFRA leadership of the scheme do not make for a comforting read. In contrast to the typical bloat of most BNG documents, there is a succinct 11 page summary and the full-fat main report is only 40 pages. Worth a read. And needs acting upon. https://lnkd.in/eEXAxmn3

7

Political debate on #climate in this #election has been framed by the entry of Reform into the fray and Labour's electoral strategy, which understandably doesn't focus on winning over climate enthusiasts already likely to vote Labour. That's a shame given the scale and importance of the climate crisis but Labour's ambitions are perhaps more ambitious than people think. Becca MacSwiney unpicks this and outlines some of the unanswered questions that #Labour will need to address after the election, on everything from the National Wealth Fund to Great British Energy, both of which have huge transformational potential 💡🍃 🌍

7

Really useful summary of key climate and energy commitments in the U.K. budget from Carbon Brief

2

‼️‼️Please take some time to engage with the consultation - guidance for the industry NEEDS input from the industry to ensure that there is consensus and consistency on climate resilience in the built environment - link below! ‼️‼️

12

Scope 3 is now of strategic importance for businesses and having led the development and implementation of many Scope 3 decarbonisation strategies I am pleased to share my thoughts on how the circular economy is so important when reducing value chain emissions.

25

1 Comment

If The Labour Party wants to transform British energy, they need to focus on the grid, not generation. Here's my take, published in the Financial Times today. £200 billion of projects are waiting in the grid connection queue, which is 5 years delayed on average according to Ofgem and Department for Energy Security and Net Zero. Generation also only represents ~30-35% of electricity bills - costs from transmission and distribution are likely to increase, given significant upgrade requirements to accommodate renewables and electrification of transport and heat. Focusing on supporting nascent technologies, planning reforms and the grid could help far more than funding projects that private investors are already waiting to build. Subscribe for more updates from me on energy and ESG at https://lnkd.in/expN3mWH #GreatBritishEnergy https://lnkd.in/e74u7gqK

55

3 Comments

It’s great to work with organisations such as Cynnal Cymru - Sustain Wales, those that help, guide, convince and cajole. It’s even better for us to give back - none of us can get by without a little help from our friends (to paraphrase Lennon/McCartney). Sharing success or failure is key to *collective* success; piecing together shared experience, advice and bits of good practice that move us on a notch. I can’t pretend that we know everything about encouraging biodiversity (who does?), but we’re certainly putting a lot of effort into recognising, planning, learning, doing and acting - in the hope of improving the spaces around our site and hoping others will follow. And you know what? It’s bloody rewarding. #sustainability #wildlife #business #biodiversity #nature #steelindustry

12

Check out my latest BLOG for SUEZ UK on all things #plastic - policy, performance and positive outcomes.... i take a closer look at the UN Global Plastics Treaty, UK packaging policy changes & increasing media coverage, highlighting the challenges and progress being made towards reducing plastic waste and improving recycling systems. Read the blog here: https://bit.ly/3WyiRWQ

8

1 Comment

🔥Carbon Offsetting Under Fire as industry calls for real change🔥 (Not Greenwashing) 📢 Environmental professionals have major concerns about the integrity of carbon credit offsetting schemes 📢 Many professionals believe greenwashing is widespread in the UK, 📢 There are critical issues in how businesses communicate their environmental efforts. Anecdotally, I hear all of these points when I speak with professionals in our industry today. Mainly from applicants turning down, what on their face, look like amazing job opportunities. I sense we have a growing trust problem and its costing businesses by missing out on some of the brightest minds in our sector. What more do you think businesses can do to rebuild trust in their sustainability efforts? 🤔 #greenwashing #sustainability #careers #jobs

15

1 Comment

https://lnkd.in/eG6nbj7m The current UK election campaign’s insufficient focus on climate issues is deeply concerning. Despite undeniable evidence of worsening climate impacts—record heatwaves, floods, rising energy bills, and food costs—main political parties seem to be sidelining the urgent need for comprehensive climate action. Over 400 scientists have called for ambitious policies to address this crisis, urging political leaders to align with the public’s growing concern. When will there be change? How much more climate chaos do politicians need before they bring the climate agenda to the forefront? It’s imperative that the next government commits to a credible net-zero strategy and robust climate adaptation measures to safeguard our future. #GreenAgenda #ClimatePolitics #GreenPolicies

7

1 Comment

🚨 Breaking: Circular economy by law Scotland🏴󠁧󠁢󠁳󠁣󠁴󠁿: 6 take-aways that inspire👇 Here are 6 key takeaways from the new Scotland's Circular Economy Bill. 1️⃣ Setting clear targets: The bill requires the Scottish government to set statutory circular economy targets and publish a circular economy strategy every 5 years. This provides a clear roadmap for progress. 2️⃣ Addressing specific issues: The bill targets unsold goods disposal and single-use items. For example, it introduces powers to restrict the disposal of unsold consumer goods and place charges on single-use items like disposable cups. 3️⃣ Empowering authorities: The bill grants Scottish ministers and local councils new powers to enforce circular economy measures. This includes giving local authorities additional enforcement powers to crack down on flytipping and littering from cars. 4️⃣ Improving recycling infrastructure: The bill is supported by a £70 million Recycling Improvement Fund to help local authorities modernize their services. This aims to contribute to a step change in Scotland's recycling performance. 5️⃣ Producer responsibility: The bill aligns with the UK-wide Extended Producer Responsibility for packaging, set to be implemented from 2024 onwards. This will make producers fully responsible for the waste created by their packaging. 6️⃣ Measuring progress: The bill introduces requirements for mandatory public reporting on food waste and surplus. This will help track progress and identify areas for improvement. Congrats - we need more of that! #circulareconomy #zerowaste #linkedtopvoices

556

35 Comments

How to phase out coal - lessons learned from the UK - (1) set fossil fuel phase out targets, (2) make everyone aware of hidden costs of fossil fuels (including through taxes), (3) grow renewables with plummeting costs, (4) reform the energy markets to enhance access for renewables, and (5) invest in and innovate the grid. https://lnkd.in/eGG2kZx9 Dont forget to take a look at the economist - we are entering the solar (renewable) age . . .

14

**Strategic Shifts in the Carbon Offset Market: Shell's Bold Move** Shell Plc is making headlines with its decision to divest a majority stake in its nature-based carbon projects portfolio. Facing a contracting market for emissions offsets, this move reflects Shell's strategic realignment to focus on areas with higher growth potential and profitability. The decision marks a significant pivot in how major players are navigating the evolving landscape of carbon markets. Understanding the complexities of carbon offsets, Shell's decision highlights a broader trend among energy giants reassessing their approaches toward achieving sustainability goals. This shift poses critical questions about the future of carbon offset projects and their role in mitigating climate change amid evolving economic dynamics. What does this mean for companies still strongly invested in nature-based offsets? As Shell carves out a new path, it invites an industry-wide reflection on sustainable practices and how businesses can innovate to meet environmental responsibilities while achieving long-term growth. How do you think shifts like these will impact the carbon offset market and sustainability strategies in the energy sector? #CarbonOffsets #Sustainability #Shell #ClimateChange #EnergyTransition #SustainableBusiness - - - - - - - - - - P.S.: Looking for a creative outlet? Check out our creative books at www.sleepyhippie.com for inspiration and fun

1

1 Comment

Cooperation isn’t just a different way of running a 11 billion pound business. In an unfair world it’s a fairer philosophy. We don’t have shareholders who we have to return a dividend or equity to. That means our decisions are informed by our member-owners. By you. #equity #inequality #cooperation #coop #democracy

14

Scope 3 emissions reporting can have benefits beyond carbon reduction, according to industry respondents to DESNZ's call for evidence, helping with: 💠 Reputation 💠 Investor ratings 💠 Supplier relationships 💠 Incentivising resource efficiency & circularity This echoes some of what businesses told me & Heather Plumpton when we looked at how to scale up circular business models back in 2022. Moving from voluntary to mandatory Scope 3 reporting for larger firms could be a game changer for developing circular value chains. From the call for evidence: “One of the benefits of scope 3 reporting is the increased visibility it provides on the emissions embedded in materials and products a company uses throughout its supply chain. Emissions associated with purchased goods and services upstream in a supply chain are often the largest source of a company’s carbon footprint. This increased visibility, and target setting based on it, would reduce non-carbon environmental impacts as it encourages greater resource efficiency and circularity.” (Trade association) https://lnkd.in/eTiZqn8n? (Our 2022 Green Alliance report: https://lnkd.in/eeWj2wat)

6

'We said, we did' - For me, this is the most important page of any impact report. That's the first page I look at.   Why? Because in one single page, you revisit your environmental and social commitments and share openly how well (or poorly) you have performed against each of them. The whole point of an impact report is to transparently share your journey to being a better business for your staff, customers, suppliers, communities, and the planet.   Below is Ecosurety's 2023/24 impact report 'we said we did' page.   Lots of commitments achieved, some room for improvement on others. And an unwavering commitment to strive to be a better business. Full report and our commitments for the next 12 months here: https://lnkd.in/e_MmHzJw   And you? What is the first page you look at in an impact report?   #Businessasaforceforgood #Bcorp #wesaidwedid #impactreport

27