The REP Wrap: Firms team up to buy low-carbon concrete

Your weekly summary of corporate sustainability news.

Amazon and Meta are among the founding members of a new initiative to drive the uptake of low-carbon cement through combining their purchasing power. The Sustainable Concrete Buyers Alliance was launched this month by the nonprofits RMI (formerly Rocky Mountain Institute) and the Center for Green Market Activation.

A list of companies expected to be covered by California’s incoming climate disclosure rules has been published by lawmakers in the state. More than 4,000 firms, including Chevron and Exxon, were included, but the California Air Resources Board stressed that it’s down to the firms themselves to determine their eligibility, and they should not rely on the new list.  

More than a third of the 500 largest listed firms in the US base their sustainability disclosures on a double materiality assessment, according to analysis by consultant Teneo. A further 2% were found to be in the process of undertaking a double materiality assessment.

FTSE 250 firm XPS Group confirmed it has had its near-term climate targets validated by the Science Based Targets initiative. The consultancy is aiming to reduce its absolute Scope 1 and Scope 2 emissions by 95% by 2035. It also has a Scope 3 reduction target of 67% “per million GBP value added” over the same period. 

A new body has been launched to help companies explain their less-quantifiable efforts to reduce their emissions. The Taskforce for Corporate Action Transparency claims it will provide support to firms by offering a standardised way of communicating about initiatives that can’t be expressed as a % or $, for example. Backed by green NGOs including the Environmental Defence Fund, it published two greenhouse gas accounting frameworks alongside its launch on Wednesday.