SpeedRead Sustainability #2: Weekly Highlights

Explore recent sustainability updates, trends, business spotlights, and insights in this edition, showcasing advancements and innovative solutions for people and the planet.

Top Story:

ESG Due Diligence Enhances M&A Value and Mitigates Risks

• ESG due diligence is increasingly integral in mergers and acquisitions, aiding in risk mitigation and enhancing deal value. Mechanisms like price adjustments and structured indemnities help manage material ESG issues, preserving up to 10% of deal value.

Business Spotlight:

Hellmann’s Fights to Preserve Mayo Sandwiches with Regenerative Farming

• Hellmann's has launched the "Save Our Sandwiches" initiative to counteract soil erosion threatening soybean crops, essential for mayonnaise production. By promoting regenerative farming practices, Hellmann’s aims to preserve the future of popular mayo-centric sandwiches like BLTs and Turkey Clubs.

2024's Top 10 U.S. Companies in Environmental Performance

• According to JUST Capital 2024 rankings, the top 10 companies for environmental performance have set emissions reduction targets, with eight meeting science-based targets aimed at capping global warming at 1.5 degrees Celsius. These companies also use renewable energy at a rate seven times higher than the rest of the companies evaluated.

Startup Kubik Transforms Plastic Waste into Affordable Housing

• Kubik, Inc. is addressing Ethiopia's housing needs by converting the country's annual 400 million kilos of plastic waste into building materials. This initiative not only provides affordable housing solutions for Ethiopia’s growing population of 120 million but also significantly reduces the environmental impact by tackling both carbon and plastic footprints.

YSL Beauty and Re:wild Collaborate to Revitalize Global Wilderness

• YSL Beauty has joined forces with conservation organization Re:wild to protect and restore 100,000 hectares of wilderness by 2030. This partnership, part of YSL's "Change the Rules, Change the Future" sustainability initiative, focuses on crucial habitats in the Bahamas and Colombia, regions among the most threatened in the world.

Google Updates Maps and Search to Highlight Sustainable Travel Alternatives

• Google has introduced new features in Maps and Search aimed at facilitating more sustainable travel choices. The updates include displaying public transit and walking options next to driving routes in key cities and incorporating train suggestions into flight searches to offer alternatives to air travel.

Aldi Leads Supermarkets Globally with a 60% Reduction in Food Waste

• ALDI Stores Australia has significantly reduced its food waste by 60%, setting a new standard for environmental responsibility in the supermarket sector. This initiative is part of Aldi’s broader commitment to becoming a zero-waste business and includes donating over 40 million meals to combat hunger.

Formula 1 Releases First Impact Report

• Formula 1 has published its inaugural Impact Report, detailing significant strides in its sustainability efforts. The report shows a 13% reduction in the sport's carbon footprint since 2018, aligning with its long-term goal to achieve Net Zero Carbon by 2030. Stefano Domenicali, President & CEO of Formula 1, emphasized the sport's commitment to sustainability, not only as an aspect of racing but as a fundamental business practice.

General Mills Highlights Sustainability Achievements in 2024

• General Mills has released its 2024 Global Responsibility Report, detailing strides in sustainability and community engagement. The report outlines progress in their Climate Transition Action Plan, which includes a new commitment to no deforestation and reductions in greenhouse gas emissions across their value chain.

Bezos Earth Fund Announces $100 Million AI Challenge for Climate Solutions

• The Bezos Earth Fund is launching the AI for Climate and Nature Grand Challenge, dedicating up to $100 million to support AI solutions tackling climate change and environmental degradation. This challenge will focus on critical areas like sustainable proteins, biodiversity conservation, and power grid optimization.

Trends & Insights:

SBTi’s Updated Scope 3 Rules Could Transform Carbon Markets

• The Science Based Targets initiative (SBTi) plans to update its net zero standard to allow certain environmental attribute certificates, including carbon credits, for Scope 3 emissions abatement. This shift could significantly affect carbon markets by enabling billions in new investments and diversifying project types. While increasing corporate participation in carbon reduction, the details of these rules will determine the ultimate impact on global decarbonization efforts and the integrity of corporate climate commitments.

Shift in Climate Change Perceptions and Commitments

• The Earth Day 2024 report reveals a decline in concern about climate change, particularly among young men, despite record heat levels. There's growing resistance in places like France and Canada to the sacrifices demanded by climate initiatives.

Global Temperatures Set Record for 10th Consecutive Month

• March marked another record-breaking month for global temperatures, continuing a streak of unprecedented warmth with the average surface temperature reaching 14.14°C—0.10°C higher than the previous record set in 2016. This ongoing trend, including a 400-day sequence of record highs in the North Atlantic, is raising alarms among climate scientists.

$400 Billion Debt Crisis Threatens Climate Action in Emerging Economies

• Emerging economies are grappling with a daunting $400 billion debt burden this year, which severely limits their ability to invest in crucial climate action. A new report highlights that 47 developing nations risk defaulting if they attempt to meet the financial demands of the 2030 Agenda and Paris Agreement goals.

Campaigns and Initiatives Roundup:

Coca-Cola Crushes Iconic Logo to Promote Recycling

• The Coca-Cola Company has transformed its iconic logo to motivate consumers to recycle their used Coke cans. The new logos, part of a global recycling campaign, were created by extracting images from real crushed cans. This creative approach is intended to visually reinforce the importance of recycling and is aligned with Coca-Cola's goals to make all packaging recyclable by 2025 and to recycle a can for each one sold by 2030.

Scotiabank's 'Make It Merch' Campaign Personalizes Fan Apparel

• Scotiabank's new 'Make It Merch' campaign, developed by Rethink, enables hockey fans to customize their clothing with National Hockey League (NHL) team patches, promoting a more accessible and inclusive way to support their favorite teams.

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