DIRS.INFO The most relevant business & tech news

A view of the United Nations Climate Change Conference flags at the venue, in Bonn, Germany, June 6, 2023. "What we want to see, all of us, is a real sense of urgency about reducing CO2 emissions," Roche Vice-Chair Andre Hoffmann said. We need to show action, and I'm not sure that what I've read so far of the COP28 will be strong enough for that." Despite rapidly falling prices for renewable energy, Roche's (ROG.S) Hoffmann said much faster action was needed. "If the change is going to be that big then financial institutions, business people will reshape and they'll say my goodness there's going to be new technological institutions, there's going to be new factories, there's going to be a new economy.

Persons: Jana Rodenbusch, Hoffmann, November's, Roche, Andre Hoffmann, I'm, Eelco van der Enden, Elvis Presley, it's, Celine Herweijer, we've, Herweijer, It's, Andrew Steer, Steer, Richa Naidu, Gloria Dickie, Clara Denina, Iain Withers, Helen Reid, Alexander Smith Organizations: United Nations, REUTERS, Reuters IMPACT, Global, HSBC, Reuters, Fund, Thomson Locations: Bonn, Germany, Asia, Dubai, American, Paris

The continent is rich in the commodities needed for the green energy transition and has abundant solar power, but many governments are also burdened with cripplingly high debts. "Eighty percent of the infrastructure Africa needs by 2050 has not yet been built," Gamboa said at the IMPACT conference. "They've come to a recognition that it is good development to leapfrog and go into the clean energy transition now." "We cannot and will not run away from doing fossil fuel-based investing because the development needs of the continent are so huge," the AFC's Gupta said. "The world still needs energy security, the world still needs energy source diversity.

Persons: John Muchucha, it's, Andrew Steer, Freddy, we've, Tom Mitchell, Sanjeev Gupta, Gupta, Cristina Gamboa, " Gamboa, ActionAid, Gloria Dickie, Jane Wardell, Sharon Singleton Organizations: REUTERS, Earth, Reuters IMPACT, International Institute for Environment, Development, London, African Finance Corporation, International Energy Agency, IMPACT, AFC, Thomson Locations: Africa, Nairobi, Kenya, London, Horn of Africa, Malawi, Mozambique, Madagascar, Sharm el, Sheikh, Lagos, Global South, Paris

A shopper looks at displayed food at a supermarket ahead of the Thanksgiving holiday in Chicago, Illinois, U.S. November 22, 2022. "It feels like our consumers are asking for sustainability but they are not looking to compromise on price or quality." Scope 1 refers to a company's direct emissions, Scope 2 to indirect emissions from purchased energy while Scope 3 refers to all other indirect emissions, for example from a company's third-party suppliers. A joint study by consultant McKinsey and data firm NielsenIQ earlier this year found that 78% of U.S. consumers say a sustainable lifestyle is important to them. "We will go our own course as a company, but we have to communicate (with shoppers)."

Persons: Jim Vondruska, Clark, Oriol Margo, Kimberly, Frans Muller, Ahold, Albert Heijn, Richa Naidu, Elaine Hardcastle Organizations: REUTERS, Consumer, Shareholders, Nestle, Walmart, Reuters IMPACT, McKinsey, Thomson Locations: Chicago , Illinois, U.S, Kimberly, London, Netherlands, United States

☆ Decarbonisation in mining still a long way off
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +3 min

Engineering student Mark Peirce from the School of Mines poses for a portrait in the college's experimental mine in Idaho Springs, Colorado, U.S., December 9, 2021. As metals are used across many different industries that serve customers across various geographies, it is difficult for mining companies to account for the whole supply chain. The International Council on Mining and Metals , whose members include around 25 mining companies, on Thursday published guidance for all mining companies on how to account and report their Scope 3 - or indirect - emissions "to try and answer the problem of patchy data to make companies report consistently," its CEO Rohitesh Dhawan said at the conference. Scope 1 refers to a company's direct emissions, Scope 2 to indirect emissions from purchased energy while Scope 3 refers to all other indirect emissions, for example from a company's third-party suppliers. Mining companies have set targets to decarbonise and mostly aim to reach net zero by 2040 and 2050, but some are struggling to keep up.

Persons: Mark Peirce, Kevin Mohatt, Virginia Dundas, Dundas, Rohitesh Dhawan, Rio, Adam Matthews, Clara Denina, Elaine Hardcastle Organizations: School of Mines, REUTERS, Reuters IMPACT, Council, Mining, Metals, Rio Tinto, Church of, Pensions, Thomson Locations: Idaho Springs , Colorado, U.S, Virginia, London

LONDON, Sept 6 (Reuters) - As they endeavour to meet lofty sustainability goals, companies from Japan's Asahi (3333.T) to retailer John Lewis face challenges like confusion among suppliers, tough legislation, and friction with top management over costs, executives said. But the upfront cost of investments needed to curb emissions can cause friction within companies. WORKING TOGETHERWhile regulation plays a role in helping companies meet their goals, some feel it also acts as a constraint. Managing suppliers plays a major role in companies meeting sustainability goals but doing so can prove difficult. Some companies are going so far as to work with rivals to exchange best practices on issues such as decarbonising their value chains.

Persons: John Lewis, Preeti Srivastav, Mark Chadwick, Marija Rompani, Asahi's Srivastav, they're, Andy Griffiths, we're, Jay Doyle, Richa Naidu, Sharon Singleton Organizations: Asahi, Asahi Europe, International, Reuters IMPACT, Diageo, ITV's, Thomson Locations: London, British

☆ UN chief heat officer says warming cities pose potential to be major killers
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +2 min

Sept 6 (Reuters) - The United Nations' first global chief heat officer called on Wednesday for political leaders to make firm commitments at November's COP28 climate meeting to stem rapidly rising temperatures in cities, particularly in poorer countries. "In July, we had these crazy heat domes in almost all of the Northern Hemisphere." "It really felt like something was different, it felt like a turning point," Myrivili, the former chief heat officer for Athens, said. Myrivili and national chief heat officers around the world are focused on measures like bringing nature into cities and employing mitigation techniques such as the white reflecting asphalt introduced in Phoenix, Arizona. There are a lot of countries that have a lot of informal housing, a lot of informal labour and a lot of poverty, and that's where heat becomes the real killer."

Persons: Eleni Myrivili, Myrivili, Remo Casilli, I'm, Jane Wardell, Alison Williams Organizations: United Nations, Reuters IMPACT, Northern, Fontana, Fontana della Barcaccia, Spagna, REUTERS, Thomson Locations: London, Athens, Fontana della, Italy, Rome, generalities, Phoenix , Arizona

☆ New EU sustainability reporting rules are a challenge, says Puma
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +1 min

[1/2] The logo of German sports goods firm Puma is seen at the entrance of one of its stores in Vienna, Austria, March 18, 2016. REUTERS/Leonhard Foeger/File Photo Acquire Licensing RightsCompanies Puma SE FollowLONDON, Sept 6 (Reuters) - Meeting new European Union requirements for corporate reporting on sustainability is a challenge, sportswear brand Puma's (PUMG.DE) head of sustainability said on Wednesday, ahead of what he called an "avalanche" of regulation in the bloc. "We are nowhere near being able to fulfil the requirements of CSRD," Stefan Seidel said on a panel at the Reuters IMPACT conference in London, referring to the EU's Corporate Sustainability Reporting Directive. Seidel said this was despite Puma reporting on sustainability for 20 years. Companies will have to comply with the directive - which requires them to analyse environmental risks, set targets, and get sustainability reports externally audited - in the 2024 financial year for reports published in 2025.

Persons: Leonhard Foeger, Stefan Seidel, Seidel, Puma, Helen Reid, Louise Heavens, Jan Harvey Organizations: Puma, REUTERS, Union, Reuters IMPACT, Companies, Thomson Locations: Vienna, Austria, London

An easyJet Airbus A320neo aircraft is parked on the tarmac of Adolfo Suarez Madrid-Barajas Airport, in Madrid, Spain, June 22 2022. REUTERS/Isabel Infantes/File Photo Acquire Licensing RightsCompanies Easyjet PLC FollowLONDON, Sept 6 (Reuters) - Decarbonisation efforts in the aviation sector will cost more money, but that cost should not fall to the consumer, easyJet Chief Executive Johan Lundgren said on Wednesday. He added that options to decarbonise, like creating sustainable aviation fuels, are not yet at scale and cost three to five times more than typical jet fuel. Lundgren also said a wide range of stakeholders including governments needed to chip in to ensure decarbonisation costs remain low. A lot of the cost will depend on the speed of innovation, which Lundgren is hopeful can mitigate price hikes.

Persons: Adolfo Suarez, Isabel Infantes, Johan Lundgren, Lundgren, Sarah Young, Joanna Plucinska, Sachin Ravikumar, William James, Mark Heinrich Our Organizations: Airbus, Adolfo Suarez Madrid, Barajas Airport, REUTERS, Reuters IMPACT, Reuters, Thomson Locations: Madrid, Spain, London

☆ UK could lose global climate leadership, says former energy minister
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +2 min

Chris Skidmore is seen outside Downing Street, as uncertainty over Brexit continues, in London, Britain May 21, 2019. "We are in this global net zero race, we have been climate leaders in the past, we're about to lose that leadership," he said. There is no free rider opportunities in net zero. Asked if Sunak should attend the COP28 climate summit in person to help Britain hold onto its net zero leadership, Skidmore said it was policy outcomes which were the most important thing. "Yes, it's nice if we can have a prime minister turn up, but I don't think it's essential," he said.

Persons: Chris Skidmore, Brexit, Hannah Mckay, decarbonisation, Jobs, Rishi Sunak's, Sunak, Skidmore, William James, Sachin Ravikumar, Muvija, Sarah Young Organizations: REUTERS, Rights Companies Edf Energy Nuclear Generation, Reuters IMPACT, Thomson Locations: Downing, London, Britain

☆ IKEA stores owner Ingka plans recycling expansion
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +2 min

Ingka Investments' Peter van der Poel told a panel at the Reuters IMPACT conference in London that a recycling initiative in the Netherlands would be expanded to markets including France, Belgium and Scandinavia. "The thing here is to understand in many markets in Europe, still incineration is incentivised (over) recycling. Ingka Investments is the investment arm of Ingka Group, which owns and operates the majority of IKEA stores. Investing in what it calls the circular economy, which includes recycling, is part of Ingka's sustainable investment portfolio, alongside renewable energy and forests. Van der Poel says this is viable because Ingka has an investment horizon of "generations", out to 100 years.

Persons: Anna Ringstrom, Peter van der Poel, Van der Poel, Tommy Reggiori Wilkes, Emma Rumney, Simon Jessop, Jan Harvey Organizations: REUTERS, Ingka, Ingka Investments, Reuters IMPACT, Investments, IKEA, Thomson Locations: Stockholm, Sweden, Europe, London, Netherlands, France, Belgium, Scandinavia, North America

REUTERS/John Muchucha Acquire Licensing RightsSummaryCompanies Fossil fuel subsidies hampering green energy rolloutMore clarity needed on rules for carbon marketsCalls echo Africa Climate Summit on faster actionLONDON, Sept 6 (Reuters) - Ditch fossil fuel subsidies, agree the rules for carbon markets and provide more finance to emerging markets. That was the clear message from business leaders at the Reuters IMPACT conference in London on Wednesday about what they say needs to happen at the forthcoming COP28 climate summit. The meeting of world leaders in Dubai beginning late November is seen as a crucial test of countries' willingness to accelerate action to limit global warming, with efforts so far doing little to stem global carbon emissions. Despite this, failure to remove fossil fuel subsidies would make it harder to expand renewable energy in some countries, Ingka's van der Poel said. "My concern is that we have very little hopes for that ambition to be raised during COP28," she said.

Persons: John Muchucha, Peter Van der Poel, Anél Bosman, Ingka's van der Poel, Helena Viñes, Preeti Srivastav, Andy Griffiths, Richa Naidu, William James, Helen Reid, Simon Jessop, Alexander Smith Organizations: REUTERS, Reuters IMPACT, Ingka Investments, Africa Climate Summit, Nedbank Corporate, Investment Banking, Sustainable Finance, Asahi Europe, Diageo, Thomson Locations: Nairobi, Kenya, London, Dubai, Africa

☆ Davos 2023: What you need to know about the WEF on Thursday
▼ + stars: | 2023-01-19 | by ( Kathryn Lurie | ) www.reuters.com time to read: +3 min

During the round-table, she and three of her fellow activists said they had presented a "cease and desist" letter to CEOs calling for a stop to new oil, gas and coal extraction. "What we've said about oil and gas is that there does need to be a transition," he said. Former British Prime Minister Boris Johnson lent his support, urging allies to double down on sending military equipment to support Ukraine. Meta has been working on generative AI research, for instance tech that can convert a text prompt into a video clip. For daily Davos updates in your inbox sign up for the Reuters Daily Briefing hereEditing by Alexander SmithOur Standards: The Thomson Reuters Trust Principles.

[1/2] Outgoing British Prime Minister Boris Johnson delivers a speech on his last day in office, outside Downing Street, in London Britain September 6, 2022. REUTERS/Hannah McKayDAVOS, Switzerland, Jan 19 (Reuters) - Former British Prime Minister Boris Johnson on Thursday urged allies to double down on sending military equipment to support Ukraine and speed up an end to the war with Russia. The former mayor of London was made an honorary citizen of Ukraine's capital on Wednesday night by Kyiv's mayor Vitali Klitschko in Davos. 'HUMBLE BACKBENCHER'Johnson dismissed suggestions that his activism on Ukraine could be seen as undermining current British Prime Minister, Rishi Sunak, as he ramps up military support. When asked whether one day he could see himself wandering the WEF again as British Prime Minister, Johnson remained diplomatic saying he was more than happy representing his constituents as a member of parliament.

Search resuls for: "Reuters IMPACT"

13 mentions found