Virginia Covo

Many thanks to Peter Bakker, WBCSD – World Business Council for Sustainable Development and Global Optimism for working with us on yesterday’s roundtable which saw our CEO, Hein Schumacher and Ana Toni bring together governments and companies to discuss the practical actions needed to deliver higher ambition national climate targets.   With the February 2025 deadline for updating national climate targets fast approaching, Unilever is at #ClimateWeekNYC calling on governments to draft Nationally Determined Contributions (NDCs) that act as 5-year investment plans – mobilising business to decarbonise and unleashing opportunities for innovation and growth. Read Hein Schumacher and Patricia Espinosa Cantellano's piece outlining why effective NDC's are so vital: https://lnkd.in/eymgmKGJ And download a report on what Unilever would like to see in updated NDCs: https://lnkd.in/eAERg5-v #UNGA #ClimateAction

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A huge shoutout to ALL my Sustainability & ESG peers who went through their CDP reporting journey in the past few weeks! 🎉🌎🎉 Today is the last day to submit the CDP comprehensive questionnaire with over 180 questions related to all things climate action and sustainability. I want to acknowledge the incredible efforts, follow-ups, and data collection from my Nature's Path Foods team, who have been instrumental in gathering, analyzing, and reporting data related to our Scope 1, 2, and 3 emissions since 2012. 💚 This transparency will provide our retailer partners with visibility into our sustainability metrics and policies, including our initiatives on GHG emission reductions, Zero Waste, Organic commitments, and efforts related to forests, water, biodiversity, and plastics. ♻ Finance, Operations, Marketing, Sales, Supply Chain: THANK YOU for your patience, support, and proactivity during this annual reporting journey. Gordon Newmarch CPA, CGA Jen Woloski, APM Kuldeep Bagga Marek Haggerty Leonardo Perez Christy Wong Carrie-Anne Palmeri Bruna Carvalho Guillermo Meza Azin Ghoorchian and their respective teams 🎉 #sustainability #alwaysorganic #climateaction #cdp

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As business, government, and civil society leaders gather for New York Climate Week, this year's theme, "It’s Time!" highlights the pressing need to accelerate climate progress, particularly in light of the record-breaking global temperatures observed in 2024. There is a lot at stake and the mechanisms by which we set set and fulfil targets - be is companies or governments- matter. This article sets out some of the big lines of debatee. It's set to be a pivotal week! #NYClimateWeek #Sustainability #ClimateAction #ItIsTime #ClimateGoals

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"Exciting news! A report I co-authored, "Challenges and Opportunities for the Voluntary Carbon Markets," is now published through Georgetown University. In this report, we delve into the potential of Voluntary Carbon Markets (VCMs) to drive decarbonization and foster collaboration. We explore both the opportunities and challenges presented by VCMs and how they can be used effectively to support sustainable initiatives worldwide. Trust and Quality are key factors in ensuring the successful implementation and scaling of VCMs. We hope this report will spark valuable conversations and help harness the full sustainability potential of these markets. This report was informed by a workshop organized at Georgetown University last year. We extend our gratitude to the large number of speakers and participants from industry, academia, and other organizations for their valuable insights at the workshop. You can read the report at: https://lnkd.in/eqmJfP97 #VoluntaryCarbonMarkets #Decarbonization #Sustainability #ClimateAction" #VCM

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You don't need to be in NYC for #NewYorkClimateWeek to make a difference in the fight against climate change. In fact, you can join the conversation from anywhere. Climate is not a job; it's a call to action that requires everyone's participation. The United Nations General Assembly is taking place this week. Coincidence? The NYS Department of Environmental Conservation is hosting community air monitoring initiative meetings across the state, especially throughout climate week [1] Another coincidence? This isn't just about jobs; it's about your health and well-being, as well as your family's and friends'. When your community has a higher likelihood of elevated air pollution levels (i.e. focus spots) and/or dates when air pollution levels exceed a reference point more than twice (i.e. peaks), then climate ceases to be a job [2]. Join the conversation however you can and take action today. Dominic Moronta Alanah Keddell-Tuckey Joseph Marto Nia Howard Fenton Raya Salter (Climate Auntie) Paul Anthony Presendieu

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Symbiosis is the groundbreaking collaboration between Microsoft, Google, Meta, and Salesforce. This alliance mirrors nature restoration projects, which are vital for climate goals to be met. The work ahead is complex and costly; however, by pooling their unique strengths they commit to addressing challenges by integrating advanced technology, engaging communities equitably, and balancing benefits, while setting a standard for high-quality outcomes. This symbiotic relationship fosters a thriving, sustainable future, proving that true growth lies in the strength of interconnected support systems and innovative pre-competitive collaboration.

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We've been working under the hood at LIVSN on the execution behind the word "sustainability" and what it means to put our money where our mouth is. And by "we" I mean Abby Hollis and Wyatt Rice - who have gone above and beyond in this pursuit. I hope you take some time to read the article linked below for context on the how.

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The imperative for the US to define, align, and adequately fund expansive decarbonization policies is paramount, given the macroeconomic impact that will reverberate across all communities. Recent research underscores this urgency, revealing that a mere 1°C increase in global temperature correlates with a potential 12% decrease in Global GDP. This underscores the pressing need for action, especially considering the estimated social cost of carbon at $1056 per ton of carbon dioxide. In light of recent natural disasters across the US, communities are increasingly cognizant of the profound impact of climate change. The stark realization is settling in: the cost of inaction will undoubtedly surpass the cost of proactive measures. As one expert aptly put it, 'These effects are comparable to having a major war fought domestically, forever.' It's imperative that we act swiftly and decisively to address this existential threat." https://lnkd.in/edJu6Pzh

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We've seen more ESG expertise in boards in the last few years: "the percentage of Fortune 100 board members possessing relevant ESG credentials rising from 29% to 43%," reports Tensie Whelan. While this is good progress, it's important to note that some major knowledge and skill gaps persist, especially when it comes to climate change and worker welfare expertise. Whelan shares some good suggestions for bridging these gaps: 🌱 Board credentials and training must include the material ESG issues confronting the sector. 🌱 The board should understand upside opportunities and downside risks. 🌱 The board must have a sustainability/ESG committee. 🌱 Nominating, audit/risk, and compensation committees should include relevant ESG topics. 🌱 Return on sustainability investment (ROSI) KPIs must be used in addition to reporting and compliance. #ESG #ESGCompliance #ESGExpertise

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As many corporate sustainability teams - like us - are currently struggling to put the new reporting requirements of the European Corporate Sustainability Directive ( CSRD) into place, a recent Bloomberg survey provides some interesting perspectives on the other side of the equation: the investors who are supposed to use the data. After all, the EU policy makers behind the Directive were aiming at better steering of capital flows towards more sustainable investments, so it’s quite critical to understand where your users stand. Covering insights from over 200 financial market participants in Europe, the survey underscores the primary concern of coverage and quality issues in reported ESG data for 63% of respondents. However, another problem quickly emerges: “While investors view incomplete or low quality data as a concern, many of these issues will likely be addressed with the implementation of the EU’s Corporate Sustainable Reporting Directive (CSRD), although this will likely lead to a new challenge for market participants to manage the growing volume of reported ESG data.” For 41% of respondents, the top challenge lies in handling constantly evolving and new ESG data content. To some degree, the survey results are reassuring for me because, on one hand, there seems to be a recognized gap in market information that the reporting effort is hopefully going to close; and on the other hand, because investors and companies alike, all seem to be in the same boat trying to stay afloat by managing the massive new data management challenges that arise. We see new solutions come to market every week and the rise of AI will add another interesting dimension to this field. This is going to stay a challenging and intense journey, but I am curious to see where we are in a year’s time. #ESGData #SustainableInvesting #CSRD #FinancialMarkets

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In America (and beyond), we often focus more on the “price” of our food rather than its true “cost.” This New York Times piece explores the concept of true cost accounting, uncovering the hidden impacts of our industrial food systems. Is it realistic to expect consumers to shift their focus to the true cost of their food? Can the fundamental business of food sustain itself when we account for these true costs? #foodtech #foodsystems #futureoffood

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My Tuesday morning conundrum. Is #ESG a "dead horse"? Or is it evolving into something more nuanced? During a recent ESG presentation, someone remarked that "ESG is a dead horse." It was a bold statement that left me reflecting on the state of ESG, a term that has become both highly praised and sharply criticised. Just this morning I came across Rational Sustainability by Alex Edmans and it gave me a fresh perspective. Edmans points out that while ESG started with good intentions, it has been weighed down by politicization, blind support, and exploitation. Some proponents treat ESG as an end in itself, focusing more on labels than real-world outcomes. Meanwhile, critics dismiss it outright, believing it's just a corporate #buzzword that adds little value. But as Edmans argues, there’s a better way forward—Rational Sustainability. Rather than ESG being a "checkbox exercise," #RationalSustainability focuses on evidence-based decision-making aimed at creating long-term value. It encourages companies to consider environmental, social, and governance factors only when they are truly material to the business. The goal is to avoid the herd mentality and irrationality that often comes with sustainability trends. Here are some key points that resonated with me: 1. Value Creation, Not Politics: Rational Sustainability is about creating long-term business value, not pursuing political agendas. 2. Outcomes, Not Labels: It shifts the focus from superficial ESG metrics to real outcomes that make a difference. 3. Diminishing Returns and Trade-offs: We must recognise that not all ESG initiatives have equal value, and some may have diminishing returns. 4. Evidence and Analysis: Decisions should be based on data and analysis, not on following popular trends. I think many of us in the sustainability space are grappling with these same questions. Should we cling to the ESG label, or should we push for a more rational, outcome-driven approach that prioritises long-term value? Keen to hear thoughts and how you see the future of ESG evolving in your line of work? #RationalSustainability #ESG #LongTermValue #Sustainability #BusinessLeadership https://lnkd.in/gNEW93hd

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Bogota, Columbia is now #rationing water. For nine million people. #Drought and #ElNino have driven #reservoirs to record lows. Bogotá and dozens of surrounding towns have been divided into nine different zones with domestic #water cut off for 24 hours in each zone it resets every 10 days. Bogota’s Mayor says some reservoirs are at 20 percent capacity. There is little source #diversification. The region depends on #rainfall and when the rain doesn’t fall persistently, well, drought and rationing. Think it can’t happen here? Think again. Arizona has curtailed development. Parts of Texas are still dry as it heads into the driest season and even wet Florida must explore alternatives to #ground and #surface water. It’s a changing world and water #managers have to stay ahead of it. #waterrationing #drought #drinkingwater Texas 2036 Texas Water Development Board Florida City & County Management Association Texas City Management Association Carlos Rubinstein https://lnkd.in/ex7TS8SW

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Soil degradation is one of the most pressing environmental challenges facing the world today. As a foundational element of food production, biodiversity, and climate regulation, soil health is critical for sustaining human life and ecosystems. For more, read the article below. #soil #soilhealth #sustainability #future #technology #life #vision #agriculture #agtech #change #crops #food #foodtech #innovation #innovationtechnology #climatechange #climate #futurism #businessintelligence #economy #enterpreneurship #startups #venturcapital #markets #sustainability

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The Executive Director of Carnation Farms lays out a simple economic argument for regenerative farming over traditional farming. The table in this article is worth the click. #sustainabilityopportunity #regenerativefarming

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Why do B2B companies and suppliers collaborate for a sustainable future and what value does this create? That was the subject of a great discussion yesterday at a Nest Climate Campus panel discussion during #ClimateWeekNYC with Smurfit Westrock's Christopher B. Davidson and Diageo North America’s Jayant Kairam. We talked about how joint efforts in sustainability can lead to more efficient use of resources, reduced costs and improved profitability for companies and suppliers.

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A year ago, Andre Ticoulat and I embarked on a systems analysis process at TransCap Initiative, looking to understand how capital allocators could support the transition to regenerative agriculture at scale in the Midwest - an agricultural region of such global significance. We have captured our insights in an interactive Kumu report (link below! 👇) but here some of my personal learnings from this process: - Farmers are incredible innovators and experimenters! The ones making this transition are doing so against the odds, in the context of an external environment which has historically not been supportive (though this is changing) 👩‍🌾 - There is plenty of money in the system, and interest in this topic from both philanthropic funders and commercial investors, but they are often not sure where to begin. Our systemic investing blueprint can hopefully help here. 💡 - The different types of money engaging on regen ag often 'don't talk to each other'! We need infrastructure finance, philanthropic dollars, venture capitalists, insurance providers, lenders and many other different types of capital holders orchestrating their efforts strategically in service of this mission 💸 - Carbon sequestration is often the main and most obvious entry point for conversations about the benefits of regen ag, but it is way too reductive and sometimes also politically divisive. There are many other amazing reasons for practicing regenerative agriculture, which are often easier for different types of stakeholders to get behind: nutritional density, high quality soil, healthy watersheds, thriving natural habitats and resilient agricultural communities to name a few! 📣 - We need to build more consumer awareness of regen ag, and the best way to do that might be to communicate the fact that healthy soils = healthy food. We are only at the tip of the iceberg here, but early research is showing that regenerative practices tend to result in more nutritionally dense food 🥕 - More than any type of transition loan, farmers need a long-term, secure market for their regenerative products - including cover crops! 🌿 What have I missed? Tell me in comments please! #regenerativeagriculture #systemicinvesting #sustainablefinance #impactinvesting #systemsthinking

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Packaging accounts for nearly 10% of General Mills' greenhouse gas footprint. So, it's encouraging to see that 93% of their packaging is already recyclable or reusable, up a percent from 92% last year. Can the entire CPG industry follow suit? Or go even further? And what about folks who aren't sharing their progress? Several major CPG brands are making strides in more sustainable packaging - all taking directions material to their packaging line - and here's a quick look at the numbers: 🟢 Starbucks: Their waste-to-landfill reduction efforts resulted in diverting more than 160 million pounds of waste from manufacturing sites in 2023. 🟢 Ferrero Rocher: This confectionary giant has successfully switched 78% of its plastic films to monomaterial, enhancing recyclability. 🟢 Del Monte Foods, Inc.: Packaging accounts for 29% of their scope 3 emissions, and they've already achieved a 5.6% reduction in these emissions since 2021. 🟢 Walgreens: A seemingly small change—switching bottle caps from black to white—is projected to improve recyclability for approximately 13 tons of plastic. 🟢 IKEA: The company has taken significant steps in reducing plastic packaging, achieving a 44% reduction between 2021 and 2023. 🟢 Colgate-Palmolive: In 2023, the company successfully eliminated PVC, polystyrene, and reduced black plastics from its packaging, addressing materials that pose significant challenges for recycling systems. 🟢 Bath & Body Works: Their efforts to reduce plastic use led to a decrease in virgin plastic use by 7% so far, a promising step towards their 2025 goal. While the concept of fully sustainable packaging remains elusive, these companies are making commendable strides towards greater sustainability. It remains to be seen whether these efforts can be scaled industry-wide and whether the environmental impact of these changes will be as significant as hoped. Nonetheless, their data-backed results and innovative solutions offer a glimmer of hope, reminding us that even small steps can pave the way for a more sustainable future. Let's keep a close eye on these developments and continue to push for meaningful change within the CPG industry. Read more here: https://lnkd.in/g2YEYs8k #sustainability #packaging #CPG #circularity

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Coalition is key to swift and meaningful climate action in the private sector. I spent two days this week in Geneva along with 30+ board directors from across the globe to discuss how to catalyse innovative board leadership on climate. We are #DirectorsForClimateAction Thank you World Economic Forum and Climate Governance Initiative for leading the way with “Mobilizing Directors for Climate Action”. Fellow board directors in the US, where are your boards on the journey of turning climate risks into strategically integrated opportunities? Join me in creating the future of responsible, resilient and financially thriving business. Believe it or not, all three must be true for your companies to exist 20 years from now.

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