The REP Wrap: P&G issues framework to help decarbonise consumer goods sector
Proctor & Gamble has unveiled the results of its 18-month partnership with Durham and Newcastle universities in the UK to develop a framework to support industrial decarbonisation in the consumer goods sector. The collaboration “has produced a robust tool that enables chemical manufacturers to assess and compare existing and emerging technologies based on environmental impact, economic viability, and alignment with policy,” according to a statement this week. The framework integrates lifecycle assessments, technoeconomic analysis and regulatory considerations, to help businesses decide on the best low-carbon manufacturing routes.
The European Commission will publish a document on export leakage this month, as it moves forward with reforms to the EU’s Carbon Border Adjustment Mechanism (CBAM). During an event hosted by the European Roundtable on Climate Change and Sustainable Transition, a Commission official reportedly said a roadmap on the expansion of the CBAM to downstream activities was also in the pipeline, along with a possible proposal for the chemicals sector.
Veolia Environment says collaborating with shareholders has helped it improve its climate strategy. The water, waste and energy firm has been working with seven investors to gain “valuable insights” into their needs. Deputy CEO, Emmanuelle Menning, said the initiative had helped Veolia understand how detailed to be about its decarbonisation plans, and led to the inclusion of more information about its strategies for exiting coal and capturing methane. The collaboration will now focus on the decarbonisation of Veolia’s Chinese coal-fired assets and its work on avoiding emissions.
Sustainability has “taken a backseat” according to a report from S&P Global Ratings. Titled Net-Zero Transition Stutters As Geoeconomic Risks Increase, the paper looks at what factors are shaping the transition, and concludes that weaker climate policy commitments, trade tariffs and geopolitical security concerns are impacting the green agenda. It also found that investments in low-carbon energy sources accounted for 80% of total energy investments in Europe last year, and 55% in Asia.
Climate non-profit Danu Insight has warned of “a profound lack of corporate disclosure and oversight regarding climate lobbying” in new research. The tech-focused body analysed the public information of more than 8,500 listed firms, and concluded that 78% of them provide no disclosures about their direct or indirect climate policy lobbying. Three quarters show no evidence of having a process in place to govern such activities. Real Economy Progress reported last week that Unilever wanted a universal template to help companies conduct climate lobbying reviews.
A handbook on climate litigation has been published, detailing more than 2,500 cases filed around the world. The open-access document, published by Cambridge University Press, explores how courts have responded to cases, and identifies best practice and replicable strategies.
The financial impact of ESG controversies are felt hardest by small and mid-cap companies, according to research published this month by JP Morgan. The bank’s ESG Controversies Playbook explores the impact of such controversies on corporate performance.