The REP Wrap: Nature developments in lead-up to COP16
Your weekly summary of corporate sustainability news.
Rio Tinto has called on the Australian government to create “strong national environmental standards that establish shared goals for nature”. The mining giant this week broke ranks with much of the industry by urging lawmakers to push through the Environmental Protection and Biodiversity Act, which contains rules for habitat and wildlife protection, and requires companies to disclose the carbon emissions associated with new projects. The proposed law is expected to be put to vote next month, but has reached a deadlock in the Senate. Rio Tinto said it “supports the Australian government prioritising and progressing the EPBC Act, given the urgency of finding solutions to nature loss and the impact of climate change”.
WWF has published a report explaining the regulatory requirements for corporate nature target setting and reporting under the Corporate Sustainability Reporting Directive and its underlying standards, known as ESRS. It discusses how companies can establish credible targets and how aligned CSRD is with the voluntary Science-based Targets for Nature framework, which it argues firms should adopt.
Planet Tracker has studied the supply chain of Nestle to show how traceability software can evaluate the environmental footprint of corporate supply chains regardless of whether a company discloses information itself. The NGO warned in a report this week that the increased quality and availability of traceability tools means companies will get “caught out” more often for environmental abuses and exposure to environmental risks.
When it comes to environmental litigation against companies, everyday people are likely to support claims even if they’re not directly impacted and even if the case isn’t associated with a big pay-out, according to research by litigation communications consultancy Thorndon Partners. The UK-based firm surveyed members of the public and found the drivers for supporting environmental legal action were mainly moral. “This conclusion is significant,” it said. “It means that the typical tactic of dangling an attractive payday in class actions may not be as important – or impactful – for environmental litigation.”
The OECD has published a handbook on “due diligence for enabling living incomes and living wages in agriculture, garment and footwear supply chains”. Developed in partnership with the German development agency GIZ and financed by the German Federal Ministry for Economic Cooperation and Development, the document includes guidance on mapping supply chains, managing risks, and communicating with stakeholders on living wage issues.
Iberdrola has become the first Spanish business to secure a Fair Tax Mark. The utility was assessed by the Fair Tax Foundation and found to have a responsible approach to tax-related lobbying, disclosure and policy.