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☆ America's Plastic Catastrophe: Most Waste Can't Be Recycled
▼ + stars: | 2024-04-24 | by ( Taylor Dorrell | ) www.businessinsider.com time to read: +14 min

It's an urgent question — what do we do with the 40 million tons of plastic waste we produce annually? One year of plastic waste is roughly enough to smother the entirety of Manhattan a meter deep, and it has to go somewhere. For decades, America sent its plastic waste to countries like China and Indonesia. Unlike aluminum or glass, the plastic that can be recycled rarely results in replacing one recycled water bottle with another. By downcycling a tiny portion of plastic waste, companies can genuinely reuse a relatively small share of plastic, while convincing consumers that the industry has created a circular economy of infinitely recycled plastic.

Persons: Kartik Byma, they're, Tim Miller, Susan Freinkel, Nestlé, Lea Suzuki, Larry Thomas, what's, Taylor Dorrell, Biden, that's, Taylor, Miller, Kelley Sayre, Vicky Abou, it's, Mike Bloomberg, Bloomberg, Espen Barth Eide, Norway's, Abou, It's Organizations: Getty, America, Chevron, Exxon, Paper Stock, Plastics Industry Association, Organization for Economic Co, San Francisco, NPR, International Energy Agency, ExxonMobil, Alterra Energy, National Renewable Energy Laboratory, Royal Paper Stock, Akron, Buckeye Environmental, Business, Eastman Chemical Co, American Chemistry Council, New, Beyond Plastics, UN, Buckeye Environmental Network Locations: America, Manhattan, China, Thailand, Malaysia, Indonesia, AFP, Ohio, American, San Francisco, Akron, Taylor Dorrell Akron , Ohio, United States, Oregon, New York City

☆ ‘Climate-Controlled’ Sausage? Courts Crack Down on ‘Greenwashing’
▼ + stars: | 2024-04-12 | by ( Somini Sengupta | ) www.nytimes.com time to read: +1 min

A “climate-controlled” sausage. New trousers labeled “recycled.” A “sustainable” airline ticket. More and more, big brands are using taglines like these to cater to their green-minded customers. And more and more, they are under fire from courts and regulators for making climate promises they can’t keep. Researchers at the Grantham Research Institute on Climate Change and the Environment last year identified “an explosion of ‘climate-washing’ cases,” using existing national laws and regulations.

Organizations: Grantham Research, Danish Crown, Markets Authority Locations: Grantham, Denmark, Britain

☆ My Tour Operator Is a B Corp. What Does That Mean? Should I Care?
▼ + stars: | 2024-03-18 | by ( Sophie Stuber | ) www.nytimes.com time to read: +1 min

When it comes to travel, she also values environmentally and socially responsible companies, which led her to choose Intrepid Travel, a certified B Corp company, for a tour in Morocco in 2019. The sheer number of sustainability certifications for the travel and tourism industry is almost overwhelming and certainly confusing. Certified B Corp enterprises must meet standards set by B Lab, a Pennsylvania-based nonprofit founded in 2006 that awards for-profit companies with certifications for social and environmental performance, transparency and accountability. Globally, there are only 62 certified B Corps in the travel industry and 76 in accommodation and hospitality. “When you see the B Corp logo, I know it’s been at least semi-vetted,” Ms. Dohoney, 64, said.

Persons: Tanya Dohoney, Ms, Dohoney, “ Organizations: Intrepid, B Corp, B Lab, Corps Locations: Texas, Paris, Morocco, Pennsylvania, Patagonia

The largest global industrial wood pellet supplier filed for Chapter 11 bankruptcy protection on Wednesday, announcing its intention to cut about $1 billion of debt by restructuring agreements with creditors, including those who have invested heavily in new facilities. The announcement came two months after Fitch Ratings downgraded Enviva’s default rating following a missed interest payment of $24.4 million. Construction will continue at its location in Epes, Alabama, Enviva said in a March 12 statement. The Dogwood Alliance urged the Biden Administration this fall to prevent wood pellet producers from accessing a tax credit that received additional funding under the Inflation Reduction Act, which marked the most substantial federal investment to date in the fight against climate change. Report for America is a nonprofit national service program that places journalists in local newsrooms to report on undercovered issues.

Persons: Enviva, ”, ” Glenn Nunziata, Danna Smith, Smith, ” Smith, ” ___ Pollard Organizations: Fitch, Dogwood Alliance, Biden, Associated Press, America Statehouse News Initiative, America Locations: Maryland, Delaware, Mississippi, Alabama, U.S, Epes , Alabama, Bond

☆ Unilever and Dell have shut down some sustainability marketing initiatives as big corporations embrace 'green hushing'
▼ + stars: | 2024-02-27 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +7 min

Late last month, computing giant Dell cut part of its marketing team that focused on sustainability and other ESG-related marketing roles, Business Insider has learned. This story is available exclusively to Business Insider subscribers. AdvertisementThis is feeding into a growing trend of "green hushing," where companies stop publicizing their sustainability efforts due to concerns around regulatory scrutiny or a consumer backlash, experts say. Other sustainability agencies have been absorbed into wider offerings, R3 EVP of delivery Sarah Tan told Business Insider. Leo Rayman, head of the sustainability consultancy and venture studio Eden Lab, said that the green hushing phenomenon could suggest a sign of maturity in the space.

Persons: we're, Hein Schumacher, hushing, Pimco, , Harriet Kingaby, Sarah Tan, Kingaby, Bud, Bud Light, influencer Dylan Mulvaney, Guy Parker, — that'll, Parker, Leo Rayman, Rayman, Townsend Organizations: Dell, Business, Unilever, JPMorgan, State, ACT Climate Labs, Media, Advertising Network, Brands, Green Guides, Standards Authority, ASA, BMW, Shell, Etihad Airways, Competition, Markets Authority, Eden, Sustainability

☆ The Wild West carbon credit era might be coming to an end as sales hit record high
▼ + stars: | 2024-02-26 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +5 min

Carbon credits have been through a tough time. But since then, the voluntary carbon market (VCM), where carbon credits are traded, has faced intense criticism for the actual emission reduction the credits provided. "So, definitely, it was a bumpy ride," said Allister Furey, cofounder and CEO of carbon credit rating and data provider Sylvera. In a vote of confidence from venture capitalists, January also saw carbon credit insurer CarbonPool secure $12 million, carbon credit investment platform Cultivo raise $14 million, and carbon project developers platform BlueLayer come out of stealth with $10 million. In all, it signals the start to the end of the carbon credit "wild west," Sylvera's Furey said.

Persons: couldn't, Verra's, Allister Furey, issuances, Mark Kenber, Sylvera's Furey, Lubomila Jordanava, Nathan Bonnisseau, Lubomila Jordanova, Magnus Drewelies, Ben Rubin Organizations: Business, Guardian, BI, Sylvera, Carbon Business

☆ Activist Bluebell believes BP is 50% undervalued compared to peers
▼ + stars: | 2024-02-03 | by ( Kenneth Squire | ) www.cnbc.com time to read: +11 min

The company's segments include gas & low-carbon energy, oil production & operations and customers & products. Its gas business includes upstream activities that produce natural gas, integrated gas and power, and gas trading. Its oil production & operations segment comprises upstream activities that produce crude oil, including Bpx Energy. As of Bluebell's October 4, 2023, letter to BP, BP traded on a price-earnings ratio of 6.7 times, a 44% discount to Chevron and ExxonMobil, which on average traded at 12 times. To make it even clearer how the market views BP's strategy, on February 7, 2023, when BP announced its partial retracement from this strategy, BP's share price rose 8% on the day and 17% on the week.

Persons: Giuseppe Bivona, Marco Taricco, Bivona, –, Helge Lund, Bluebell, BP's, Bernard Looney, Shell, Looney's, Looney, Pamela Daley, Solvay, Glencore, Ken Squire Organizations: BP Bunge, Bpx Energy, Castrol, Bluebell Capital Partners, Bluebell Partners, BP, ExxonMobil, Chevron, Bluebell, International Energy Agency, EV, Exxon, Shell, Mr, Renewables, Power, BP's Board, BlackRock, 13D Locations: bioenergy, Europe, Bluebell, Paris, Bioenergy, United States, U.S

☆ Icon of the Seas: Why Americans Are Obsessed With Big Cruise Ships
▼ + stars: | 2024-01-25 | by ( Henry Wismayer | ) www.businessinsider.com time to read: +17 min

Love them or loathe them, giant cruise ships are among the most remarkable success stories of the mass tourism age. Rechristened the Mardi Gras, the first Carnival cruise ship sailed out of Miami that March. Cruise ships like the Icon of the Seas will spend the majority of their trip at sea. Eight years later, cruise ships such as the Diamond Princess became early incubators for COVID-19. Cruise Market Watch forecasts there will be 360 cruise ships in service at the end of this year, comprising less than 1% of the global commercial fleet.

Persons: Ted Arison, Arison, Pieter De Boer, Costa, Diamond, Aaron Saunders, We've, Sue Bryant, Z, sass, Emma Le Teace, YouTuber, David Foster Wallace, Harper's, Sarah Knorr, Bryan Comer, Karla Hart, Hart, Saunders, it's, Henry Wismayer Organizations: Port, Passengers, Mardi Gras, Mardi, Gras, Cruise, Royal Caribbean, Costa Concordia, Cruise Lines International Association, Broadway, CivicScience, Royal, Virgin, Business, Transport & Environment, Getty, International Council, Global Cruise, Global Cruise Activist Network, Cruise Market, Royal Caribbean International, New York Times, National Geographic, Financial Times Locations: Port of Miami, Caribbean, Miami, The Port, Tuscany, Italy, Royal Caribbean, TikTok, Panama, Bahamas, Brussels, Netherlands, Douarnenez, Venice, Dubrovnik, Croatia, Amsterdam, Juneau , Alaska, Skagway , Alaska, CocoCay, London

☆ This startup wants to be the leading clean energy provider to businesses. Check out the 12-slide pitch deck Reel used to raise $5.4 million.
▼ + stars: | 2024-01-22 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Businesses can currently purchase certificates or credits to say they have used renewable energy, representing the output from a renewable energy project that's already supplying the grid. The startup's platform aggregates smaller companies' energy demands so they can sign PPAs, which locks in a fixed price. It will also expand into new European markets and grow its 15-strong team across tech, energy, commercial, and operations. With its eye on becoming the leading B2B energy provider, the startup plans to build energy storage and demand response capabilities down the line.

Persons: —, David, Jon Sigvert, Sigvert, Daniel Nathan Organizations: Service, Business, Energy, International Energy Agency . Companies, Fortune, UVC Partners, Firm Locations: Copenhagen, Ukraine, Finland

The Davos consensus on the presidential electionPublicly, the global business leaders who gathered at the World Economic Forum in Davos, Switzerland, haven’t wanted to predict the winner of the upcoming U.S. presidential election. In an interview with Andrew on CNBC, he didn’t predict that Trump would win, but suggested that dismissing the former president and his supporters would be a mistake. “He wasn’t wrong about some of these critical issues, and that’s why they’re voting for him,” he said. “Trump is already the president at Davos — which is a good thing because the Davos consensus is usually wrong,” Alex Soros, the son of George Soros, said on a panel. A little history: The Davos consensus was that Hillary Clinton would beat Trump in 2016.

Persons: haven’t, Donald Trump, DealBook, Trump, Jamie Dimon, JPMorgan Chase, Andrew, “, ” Dimon, ”, MAGA, bode, “ Trump, ” Alex Soros, George Soros, Hillary Clinton, Sting, Biden, It’s, Reddit, Macy’s, Tony Spring, Warren Buffett, Morningstar Organizations: Economic, JPMorgan, CNBC, Trump, NATO, Biden, Trump’s Republican, Davos, Apple Watch, Reuters, Investors Locations: Davos, Switzerland, U.S, China, American, Indonesia, E.S.G

☆ Activists protest against fossil fuel industry at COP28 climate summit
▼ + stars: | 2023-12-05 | by ( Alexander Cornwell | ) www.reuters.com time to read: +3 min

[1/2] Climate activists protest against fossil fuel emitters, demanding action and more contributions to the Loss and Damage Fund, during the United Nations Climate Change Conference COP28 in Dubai, United Arab Emirates, December 5, 2023. Chiponda argued that language calling for the phase-out of "unabated" fossil fuels was merely a distraction that would allow for their continued use. Governments at COP26 agreed to phase down the use of unabated coal, the most polluting of fossil fuels. This year, countries remain split over what role fossil fuels should play in the future. Jaber has made a point of including the fossil fuel industry at the summit, insisting that oil and gas companies should be part of discussions on tackling climate change.

Persons: Amr Alfiky, Lorraine Chiponda, Chiponda, Sultan Al Jaber, Jaber, Thomas Joseph, Jainno Congon, Alexander Cornwell, Katy Daigle Organizations: Damage, United Nations, United Arab Emirates, REUTERS, Rights, United, COP26, Reuters, Thomson Locations: Dubai, United Arab, COP28, Glasgow, Paris, United Arab Emirates, UAE, California

DUBAI, United Arab Emirates (AP) — With Planet Earth running a fever, U.N. climate talks focused Sunday on the contagious effects on human health. “Climate change doesn’t need to be on a death certificate for us to be confident that climate change is causing deaths,” Diarmid Campbell-Lendrum, WHO’s head of climate and health, said. Dubai, the largest city in oil-rich United Arab Emirates, often faces higher levels of air pollution than other places on Earth due to its location — and haze is common. The Dubai government, on its web site devoted to the environment, listed its Air Quality Index level mostly at “good” on Sunday. Switzerland-based IQAir, a technology company that sells air-quality monitoring products, listed Dubai as the city with the 18th-worst air quality in the world with “moderate” air quality levels as of noon local time on Sunday.

Persons: Tedros Adhanom Ghebreyesus, ”, —, Antonio Guterres, Guterres, John Kerry, ” Kerry, Vanessa, Tedros, Diarmid Campbell, ” Diarmid Campbell, Jon Gambrell, Peter Prengaman Organizations: United Arab Emirates, Health Organization, Conference, WHO, United, Associated Press, AP Locations: DUBAI, United Arab, Dubai, U.N, —, U.S, United Arab Emirates, Persian, Switzerland

The world is heading for considerably less warming than projected a decade ago, but that good news is overwhelmed by much more pain from current climate change than scientists anticipated, experts said. Even though emissions of heat-trapping gases are still rising every year, they’re rising more slowly than projected from 2000 to 2015. “It requires the tearing out the poisoned root of the climate crisis: fossil fuels,” said United Nations Secretary-General Antonio Guterres. Guterres, numerous climate scientists and environmental activists all say what’s needed is a phase-out — or at the very least a phase-down — of coal, oil and gas. “This is throwing the global energy transition and humanity’s future into question.”___Read more of AP’s climate coverage at http://www.apnews.com/climate-and-environment.

Persons: That’s, It’s, ”, Niklas Hohne, Bill Hare, Rob Jackson, Ani Dasgupta, ” Dasgupta, Hare, Anne Olhoff, “, ” Jackson, Melanie Robinson, that’s, Johan Rockstrom, Antonio Guterres, Sultan al, Jaber, Greta Thunberg, Adnan Amir, ’ ’, Majid Al Suwaidi, we’ve, Institute’s Hohne, Al Jaber, ” Hohne, Dasgupta, can’t, Inger Andersen, ” ___ Read, Seth Borenstein Organizations: United Nations, United Nations Environment, NewClimate, Stanford University, Project, Resources, UNEP, World Resources Institute, Potsdam Institute, Climate Research, Center for Biological Diversity, Biden Administration, Twitter, AP Locations: Dubai, Paris, Europe, Pakistan, Libya, Arab Emirates, ”, al, greenwashing, Russia, Ukraine

It follows the successful transatlantic crossing by a Gulfstream G600 business jet using the same fuel last week. SAF is key toward reducing those emissions, but it is costly and accounts for less than 0.1% of total global jet fuel in use today. The fuel used to power Tuesday's flight is mostly made from used cooking oil and waste animal fat mixed with a small amount of synthetic aromatic kerosene made from waste corn, Virgin Atlantic said. Yet the 2030 target looks challenging given SAF's small volumes and its high cost, right now about three to five times as much as regular jet fuel. Virgin said the engines on the flight would be drained of SAF and tested before it returns to service using regular fuel.

Persons: Virgin, Richard Branson, Shai Weiss, Mark Harper, John F, Magdalena Heuwieser, Sarah Young, Joanna Plucinska, Tomasz Janowski Organizations: Virgin Atlantic, Virgin Boeing, Royce, Trent, Gulfstream G600, London Heathrow, Kennedy International Airport, Virgin, SAF, Boeing, BP, Aviation, British Airways, Air France, Union, Thomson Locations: London, New York, Dubai

Firms like PetroChina (601857.SS) and CNOOC Gas and Power have signed long-term contracts with Shell (SHEL.L) to buy "carbon neutral" liquefied natural gas (LNG), which uses "forest offsets" to balance out carbon emissions. Greenpeace, which has long opposed fossil fuel producers counting carbon offsets toward their emissions reduction goals, said the "carbon neutral" branding was misleading the public. "For oil and gas companies in particular, carbon offsets are a smokescreen to obscure their continued, redoubled carbon emissions," said Li Jiatong, project leader with Greenpeace in Beijing. Rising sales of "carbon neutral" LNG are being driven by a surge in gas demand, particularly in Asia. While it is still a major source of greenhouse gas emissions, gas is cleaner than coal and has been described as a "bridge fuel" in the global energy transition, but anti-fossil fuel groups oppose any new gas projects.

Persons: Stringer, Li Jiatong, PetroChina, COP28, Polly Hemming, Hemming, David Stanway, Andrew Hayley, Emily Chow, Sonali Paul Organizations: REUTERS, Rights, Greenpeace, CNOOC, Power, Shell, International Energy Agency, Energy, Australia Institute, Thomson Locations: Nantong, Jiangsu province, China, Rights SINGAPORE, Beijing, Asia

Washington CNN —President Joe Biden is not expected to attend the opening of the global climate summit in Dubai this week, according to a White House schedule of the president’s events. Since taking office, Biden has attended the annual UN climate summit in person in 2021 and 2022. The move has the potential to frustrate climate advocates both at home and abroad, though some activists and small island nations have called into question the effectiveness of the annual international climate summit process. O’Hanlon said Sunrise Movement also has critiques of the international climate summit itself – which is itself embroiled in controversy as it is being hosted by the oil-rich United Arab Emirates this year. A July Washington Post-University of Maryland poll found that 57% of Americans disapprove of the way Biden has handled climate policy, including 59% of voters 18-29 years old.

Persons: Joe Biden, John Kerry, Ali Zaidi, Biden, John Kirby, haven’t, Tom Evans, “ It’s, he’s, ” Evans, ”, Greta Thunberg, greenwashing ”, “ Biden, Stevie O’Hanlon, O’Hanlon, ” O’Hanlon, –, Donald Trump, John Podesta, Xi Jinping Organizations: Washington CNN, White, National Security, CNN, Sunrise Movement, Sunrise, United, Washington Post, University of Maryland, Republican, U.S, National Locations: Dubai, Israel, United Arab Emirates, Washington, China

☆ Climate: The UAE is hosting the world’s biggest annual summit. It’s also planning a massive fossil fuel expansion
▼ + stars: | 2023-11-22 | by ( Angela Dewan | ) edition.cnn.com time to read: +14 min

The flurry of forest conservation deals with Zimbabwe, Zambia, Kenya, Liberia and Tanzania were announced in the months ahead of the annual United Nations’ COP28 climate summit, being hosted this year in December by the United Arab Emirates. The annual climate summit is where global leaders and negotiators from nearly 200 countries will convene to decide how and when to ramp down fossil fuel use. Its parent company, Global Carbon Investments, has already agreed to transfer $1.5 billion to Zimbabwe in “pre-financing for carbon credits.” That’s more than the country spends on education and childcare, which combined are Zimbabwe’s biggest national expense. Minimum Emissions” slogan is a viable climate solution, even as global temperatures soar and scientists press for rapid fossil fuel cuts. Ironically, COP28 could be the arena that transforms ADNOC into a global oil major.

Persons: CNN —, Sheikh Ahmed Dalmook Al Maktoum, —, Sultan Al Jaber —, Al Jaber, ”, Sultan Al Jaber, Callaghan O'Hare, Reuters Al Jaber, ADNOC, Jamie Henn, It’s, Henn, “, Philip Morris, ” Henn, Renat Heuberger, Zinyange Auntony, Julia Jones, ’ ” Justin Kenrick, ” Patrick Galey, “ ADNOC, COP28, Bethlehem Feleke Organizations: CNN, Carbon, United Nations, United, Blue, US Department of Commerce, Abu Dhabi National Oil Company, US, Reuters, Free Media, Climate Watch, UN, COP28, Global Carbon Investments, Mucheni conservancy, Getty, “, Bangor University, Peoples, Forest Peoples Programme, Shell, BP, Global, Energy Locations: Dubai, United Kingdom, Zimbabwe, Zambia, Kenya, Liberia, Tanzania, United Arab Emirates, UAE, Abu Dhabi, Houston, UN, COP28, Africa, “, Swiss, Mucheni, Binga, AFP, Wales, Azerbaijan, Nairobi

☆ Australia regulator targets 'carbon neutral' claims in greenwashing crackdown
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +2 min

Office buildings are seen amidst the easing of the coronavirus disease (COVID-19) restrictions in the Central Business District of Sydney, Australia, June 3, 2020. ASIC has filed three lawsuits alleging unfounded environmental claims by two pension funds and a personal finance platform, and named so-called greenwashing as one of its priority enforcement areas for 2024. she added.,The regulator would hold investment distribution platforms accountable for the products they sell. So far, the regulator had issued interim orders to stop the distribution of some 80 investment products which it considered inappropriate. "For a number of those stop orders, the issuers of the products did step back, they've corrected ... and they've reissued it," she said.

Persons: Loren Elliott, Sarah Court, they've, Byron Kaye, Ayushman, Subhranshu Sahu, Miral Organizations: Central Business District of, REUTERS, Australian Securities and Investments Commission, Thomson Locations: Central Business District of Sydney, Australia, Melbourne, Sydney

But a Nov. 9 briefing obtained by The AP details a watered-down proposal that would drop the entire financial sector from the initial law. Spain currently holds the council’s presidency, and is trying to get all the member states to agree on their desired version of the law. A deal on finance was previously supported by all member states, he revealed. A source in the French negotiation team said on the phone, “France supports the exclusion of the financial sector from the scope of the directive. If they agree on them, they will form the basis for the final negotiation with the European Parliament.

Persons: Banks, there’s, it’s, Richard Gardiner, ”, René, France “, Alban Grosdidier, Grosdidier, Marion Lupin, Romain Hubert Organizations: Associated Press, AP, of, European Union, French, France, “, European Coalition, Corporate Justice, Climate Economics, EU, Parliament Locations: Spain, Dutch, France, “ France, Europe, Paris

Sustainability-linked loans (SLL), which were first used in 2017, offer slightly cheaper borrowing, typically around 2.5-10 basis points less, if companies meet goals such as cutting their carbon emissions or improving board diversity. These let banks strip the sustainability-linked label from the loans if targets are no longer deemed appropriate. The banks' tougher standards are discouraging some borrowers from using SLLs entirely, bankers and lawyers told Reuters. The Engie spokesman said the utility would not agree to linking an event of default to sustainability targets. "We have stated our willingness to walk away when sustainability targets were too soft," said Brittany Agostino, vice president in the environmental, social and governance group at Los Angeles-based Ares.

Persons: Toby Melville, Banks, Constance Chalchat, Pascale Forde Maurice, Elliot Beard, Simmons, Beard, I've, David Milligan, Norton Rose Fulbright, Gemma Lawrence, Pardew, Brittany Agostino, Fredrik Altmann, Tommy Reggiori Wilkes, Isla Binnie, Shankar Ramakrishnan, Simon Jessop, Alexander Smith Organizations: FCA, Financial, Authority, REUTERS, LONDON, BNP, Corporate, Institutional Banking, Reuters, JPMorgan, Ford Motors, SLLs, CIB's, European, Sustainable Investment Banking, Simmons, Norton Rose, Market Association, BMW, Porsche, Thomson Locations: London, Britain, North America, Asia, Los Angeles, New York

☆ From Bill Gates to the pope, talk of carbon capture and its efficacy is dividing society
▼ + stars: | 2023-10-25 | by ( Anmar Frangoul | ) www.cnbc.com time to read: +5 min

In this article BP.-GBMSFTBKR Follow your favorite stocks CREATE FREE ACCOUNTThis image from 2016 shows a carbon capture project in Texas. Other processes in the sector include direct air capture, with firms like Climeworks operating in the space. Climeworks, which specializes in direct air capture and storage, has offices in Switzerland and Germany. Its clients include businesses such as Stripe and Microsoft , and the Microsoft Climate Innovation Fund has invested in the company. While carbon capture has its advocates, the technology is divisive and has been questioned by a range of organizations.

Persons: Baker Hughes, Lorenzo Simonelli, Simonelli, Bill Gates, Gates, Bob Dudley, there'll, We've, Dudley, — that's Organizations: Houston Chronicle, hearst Newspapers, Getty, Hearst Newspapers, CNBC, ADIPEC, U.S . Department of Energy, Microsoft, Innovation Fund, BBC, Breakthrough Energy, International Energy Agency, Greenpeace Locations: Texas, Abu Dhabi, United States, Europe, Switzerland, Germany, Kenya, Paris

☆ Immigration is a net positive for the U.S. economy, the singularity raises worker concerns and net zero claims are falling short: Nouriel Roubini
▼ + stars: | 2023-10-24 | by ( Mark Licea | ) www.cnbc.com time to read: +2 min

"Many people are against immigration because they fear that it's going to lead to job losses or income losses. Roubini explained that the future of technology and the singularity are concerning as artificial intelligence is integrated into the workplace. Another "megathreat" Roubini discussed is global warming and how companies claiming to reach net zero are behind. Unfortunately, many of the commitments to net zero done by many businesses or even financial institutions are more like corporate PR rather than real plans. Everybody says we're going to reach net zero, but there's a lot of greenwashing and green wishing rather than real specific plans.

Persons: Roubini Organizations: New York University, Economics, CNBC, Apple, Social Security Locations: America

☆ Campaigners say Europe's car leasing giants lag shift into electric gear
▼ + stars: | 2023-10-18 | by ( Nick Carey | ) www.reuters.com time to read: +2 min

But by examining car registration data T&E said that, with the exception of ALD, the leasing companies' claims are false. "Our investigation clearly shows that all leasing companies... are making green leadership claims that are not backed up by evidence," the report says. "In other words, leasing companies are greenwashing." Across the EU as a whole, T&E found EVs made up just over 10% of leasing companies' car purchases, the same share as for the rest of the market. "What remains unclear is whether the major leasing companies will take these steps or remain rooted in the fossil age."

Persons: ZE, Eric Gaillard, Arval, EVs, Nick Carey, Barbara Lewis Organizations: Renault, REUTERS, Transport & Environment, Wednesday, Societe Generale, ALD, BNP, Ford, Nissan, Credit, Financial Services, Thomson Locations: Cagnes, Mer, France

☆ Huawei spin-off Honor says ESG will play a big role in its IPO and is 'embedded' in its DNA
▼ + stars: | 2023-10-18 | by ( Anmar Frangoul | ) www.cnbc.com time to read: +3 min

"ESG is embedded into the company's DNA since ... day one," Martin Xu, who is corporate senior vice president at Honor, said Tuesday. Xu added that the business is focusing on a number of ESG-related areas, such as accessibility, environmental protection and transparent governance. ESG and IPOsHonor's Xu argued that ESG is inextricably linked to how his company functions and the business is certainly looking to make moves in the space. Among other things, this year saw Honor publish its first ESG Report, and it has also pledged that its operations will be carbon neutral by 2045. We have to focus on the R&D but link … all these factors with the company's ESG methodology," Xu said.

Persons: Martin Xu, Xu, Honor's Xu, ESG Organizations: CNBC's East Tech West, Huawei, Shenzhen Zhixin, Technology Co, Environmental Locations: ESG, Nansha, Guangzhou, China, Shenzhen

☆ UBS head of sustainable finance: Expect more greenwashing regulation, ESG transparency questions
▼ + stars: | 2023-10-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUBS head of sustainable finance: Expect more greenwashing regulation, ESG transparency questionsCompanies should expect institutional investors to ask for information about responsibility in their supply chains and for regulation around greenwashing, said Tasos Zavitsanakis, UBS co-head of sustainable finance for Asia-Pacific, at CNBC's East Tech West conference. "There is an element of openness that needs to happen," he added.

Persons: Tasos Zavitsanakis Organizations: UBS, CNBC's East Tech West Locations: greenwashing, Asia, Pacific

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