The REP Wrap: ISSB consults on SASB
Your weekly summary of corporate sustainability news.
The International Sustainability Standards Board (ISSB) is seeking views on the “cost-effectiveness and decision-usefulness” of its SASB sector standards. It is the first opportunity for stakeholders to have their say on the SASB standards since they became part of the same body as the ISSB in 2022. The consultation, which runs until November, centres on plans to amend guidelines for eight mining sectors and processed foods. ISSB’s vice-chair, Sue Lloyd, said the drafts “further align the language and concepts in the SASB Standards with the ISSB Standards”.
Tesla has claimed its customers avoided 60% more emissions when using its products in 2024 than the previous year. The US electric carmaker made the disclosure in its latest impact report. Assumptions used by Tesla when calculating avoided emissions were questioned in a recent study by carbon specialist Greenly. Tesla has not responded to a request for comment on whether its avoided emissions figure was verified by a third party.
Mars has launched a $250m fund to invest in companies developing technologies that reduce emissions in agriculture, as well as more innovative ingredients and sustainable packaging.
Google has signed the largest ever corporate purchase agreement for fusion energy. The tech giant will buy 200 megawatts from Commonwealth Fusion Systems’ first commercial plant, for an undisclosed sum. It will also make its second capital investment in the firm, as part of a 2021 deal.
The biggest challenge companies are facing when it comes to implementing California’s incoming climate disclosure rules is “interpreting” the requirements. That’s according to a poll from a recent webinar by stock exchange Nasdaq. Participants also said they were struggling with data availability and quality and internal expertise.
The Science Based Targets initiative is launching a professional certification scheme in September, focused on seven key topics including greenhouse gas inventories and the identification of targets.
The European Commission confirmed its 2040 climate proposal this week. It is sticking with its ambition to reduce emissions by 90% over the period, but adding in the option to use carbon credits.
Switzerland has become the first country in the world to mandate disclosures about animal cruelty on food products. From July 1st, packaging on animal-derived items must include information about whether the animals were subjected to painful procedures without anaesthesia.