The REP Wrap: Novartis slashes water use, steps up on nature

Medicine company Novartis reduced its water consumption by 9% last year, and 57% since 2016, according to its latest sustainability report. The firm also evaluated its direct operations and upstream supply chain in accordance with the Taskforce on Nature-related Financial Disclosures during 2024, and plans to expand this to its downstream value chain this year. It is working with peers and civil society on an industry-specific roadmap for nature. Novartis also completed a pilot project to engage directly with workers in its supply chain, including a survey on working conditions. “To address the survey’s findings, we are actively providing ongoing capability-building support to strengthen our external partners’ ability to implement effective solutions,” it said in the report.

Non-profit research house Accounting for Transparency has launched a platform to keep track of sustainability statements published under the Corporate Sustainability Reporting Directive. The body, which is funded by the German Research Foundation, has identified three mandatory statements so far, from Swiss fragrance company Givaudan, Danish insurer Tryg and fellow Dane Netcompany.  

The European Court of Human Rights ruled this week that failing to adequately mitigate environmental pollution violates the human right to life. Italian citizens brought a case against the government over its alleged failure to address the impact of hazardous fumes created by companies dumping and burning waste illegally. The European Court of Human Rights confirmed that, despite the fact the pollution was caused by private entities, the lack of adequate response from the state put it in breach of human rights laws. Law firm Client Earth said the ruling “should have ramifications for existing and prospective cases all over Europe”.  

Mining giant Rio Tinto will partner with Norwegian aluminium producer Hydro to explore carbon capture technologies for aluminium smelters. The collaboration is expected to see the pair invest $45m over the next five years.  

Australia has adopted sustainability assurance standards launched by the International Auditing and Assurance Standards Board on Monday. ISSA 5000 outlines how sustainability reports should be assured.

The American Bankers Association has said financial institutions are “unable to drive real economy outcomes” like nature-positivity and net zero emissions. The influential trade body was responding to draft guidance on nature-based transition plans by the TNFD and the Glasgow Financial Alliance for Net Zero, which it argued was based on a “conceptually flawed assumption” about banks’ role in the transition to a sustainable economy.