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☆ Medical-Device Makers Face Push to Protect Their Wares From Hacks
▼ + stars: | 2023-02-13 | by ( James Rundle | ) www.wsj.com time to read: +5 min

Mounting cyberattacks against hospitals and clinics and a regulatory push are increasing the pressure on medical-device manufacturers to improve the security of their products. Cyber protections have often been an afterthought for medical devices, which can be in operation for decades. Newsletter Sign-up WSJ Pro Cybersecurity Cybersecurity news, analysis and insights from WSJ's global team of reporters and editors. While Mr. Suarez acknowledged that greater transparency about vulnerabilities is needed from makers of medical devices, he also wants to see customers stop using old, unsupported equipment. “It’s a complex challenge,” Mr. Suarez said.

☆ Why Processing Sweden’s Rare-Earth Haul Won’t Be Easy
▼ + stars: | 2023-02-09 | by ( Yusuf Khan | ) www.wsj.com time to read: +4 min

The find is adjacent to the company’s Kiruna iron-ore mine, an operation that would eventually be expanded to extract the rare earths plus phosphorus, a critical mineral for fertilizers. The company said it would take 10 to 15 years to start recovering the rare earths. LKAB facilities in Kiruna, Sweden. Also, LKAB reported that its find has a total rare-earth oxide level of 0.18%, a low level of concentration. U.K.-based Pensana PLC aims to mine rare-earth concentrates in Angola, before separating and processing them in the north of England.

☆ Carbon-Credit Raters Aim to Assess a Notoriously Opaque Market
▼ + stars: | 2023-02-07 | by ( Shane Shifflett | Dieter Holger | ) www.wsj.com time to read: +7 min

Carbon-credit-rating firms aim to give buyers confidence in assessing the unregulated market for carbon offsets, voluntary credits that can help companies fulfill their decarbonization promises. Traders, online marketplaces and corporate sustainability departments are typical customers for carbon-credit ratings, but companies increasingly encounter the scores through intermediaries selling the offsets. Sylvera Ltd., one of the carbon-credit raters, said that less than a third of projects aimed at preventing deforestation are high quality. The market for voluntary carbon credits topped $2 billion in 2022, according to publisher and researcher Ecosystem Marketplace. BeZero has fully rated around 280 projects, Calyx around 260, Sylvera around 115 and Renoster has fully reviewed nine.

☆ How to Craft Successful Sustainability Programs
▼ + stars: | 2023-02-03 | by ( Dieter Holger | ) www.wsj.com time to read: +5 min

Sustainability executives shared insights on how to execute sustainability programs that work at panels hosted by WSJ Pro Sustainable Business on Thursday. Now, Scandinavian shipping company Wallenius Wilhelmsen AS A is looking to develop a new type of wind-powered ship. “We could be coming full circle here,” said Roger Strevens, vice president of global sustainability at Wallenius Wilhelmsen. “What we typically think about in terms of mentoring is the senior executive mentoring the next level employee,” Ms. Evans said. The unnamed executive said she would include lessons from the mentoring program in her future meetings, Ms. Evans said.

☆ Investors Push Mining Companies to Adopt Better Sustainability Standards
▼ + stars: | 2023-01-25 | by ( Dieter Holger | ) www.wsj.com time to read: +4 min

Investors are pushing miners to adopt tougher sustainability policies amid fears the rush for minerals to expand renewable energy will harm the environment and poor communities. The newly-launched Global Investor Commission on Mining 2030 said it would introduce sustainability standards by next January which will seek to overhaul the mining industry this decade. “We’ll improve the practices and outcomes in the mining industry more quickly,” he said. PREVIEWThe rules will draw on lessons from investors and the mining industry’s development of the Global Industry Standard on Tailings Management. The tailings standard came out about two years ago following the 2019 Vale SA Brumadinho disaster in Brazil where a tailings dam collapsed and killed 270 people.

☆ Steelmaking Is Trying to Make Itself Greener and Researchers May Have Found a Way
▼ + stars: | 2023-01-25 | by ( Yusuf Khan | ) www.wsj.com time to read: +3 min

Steelmaking is one of the most carbon-intensive industries in the world, but researchers may have found a way to make it greener. Newsletter Sign-up WSJ Pro Sustainable Business A weekly look at environmental, social and governance issues and strategies for corporate decision makers. The system essentially creates a closed loop where the carbon split using the perovskite is put back into the system. “After five years, this system would save the U.K. steel industry £1.28 billion [equivalent to $1.57 billion], while reducing UK-wide emissions by 2.9%,” Ms. Kildahl said. For example, H2 Green Steel in Sweden is looking to cut carbon emissions by using hydrogen as a fuel source.

☆ Companies Rush to Trace Sprawling Supply Chains as Sustainability Rules Loom
▼ + stars: | 2023-01-24 | by ( Dieter Holger | ) www.wsj.com time to read: +5 min

The rules come as businesses, especially small and midsize companies, have a limited view of their supply chains and are struggling to broaden their oversight, sustainability analysts say. Imagine that in the landscape of supply chain,” said Tim Constable, partner at law firm Dentons advising companies on supply chains. There are a host of other regulatory developments threatening to affect companies’ supply chains. Photo: Chris Ratcliffe/Bloomberg NewsUnilever has a sprawling global supply chain, with around 54,000 suppliers in 150 countries. It doesn’t matter how sophisticated the program is.”Internet-of-things startups can go beyond aggregating data and instead track actual items.

☆ Many Companies Are Shying Away From Carbon Credits
▼ + stars: | 2023-01-17 | by ( Dieter Holger | ) www.wsj.com time to read: +5 min

Many companies are hesitant to buy carbon credits as the market faces criticism and coming standards remain unclear. Carbon credits are also expected to be discussed at this week’s World Economic Forum annual summit in Davos, Switzerland. As officials work to develop the market, sustainability chiefs must weigh the pros and cons of carbon credits in their climate plans. Carbon solutionsTo address concerns in the carbon market and scale up climate action, there is a movement toward better, widely accepted standards. The Integrity Council for the Voluntary Carbon Market ended its public comment period in September on the 10 so-called Core Carbon Principles it proposed in July.

☆ Big Investors Expected to Scrap ‘Dark Green’ Labels on More EU Funds
▼ + stars: | 2023-01-10 | by ( Dieter Holger | ) www.wsj.com time to read: +6 min

SFDR rules require EU-marketed funds to be designated as one of three categories: “dark green” Article 9 funds, which aim for sustainability or decarbonization; “light green” Article 8 funds, which advance one or more environmental, social and governance objectives; and Article 6 funds, which don’t have any specific ESG-related objectives. Upgrades and downgrades in classifications typically occur with “similar frequency,” but since September, more than 80% of reclassifications have moved Article 9 funds to Article 8, analysts at Jefferies said in December. At the end of November, there were around $452 billion in Article 9 funds, nearly $4.2 trillion in Article 8 funds and $3.9 trillion in Article 6 ones. In November, BlackRock moved 16 funds representing around $26 billion to Article 8 from Article 9, but also retained 13 dark-green funds valued at about $13 billion. Another challenge is for fund managers to gather and report required ESG data—such as greenhouse-gas emissions, gender pay gaps and water use—for individual stocks and bonds in a fund.

Companies are increasingly working together to cut greenhouse-gas emissions but such collaboration faces the threat of antitrust action demanded by politicians who say it violates competition rules. There are now more than 150 business climate collaborations, according to research by Harvard Business Review. “There are a lot of ways to stay on the right side of antitrust laws,” says Justin Stewart-Teitelbaum, antitrust partner at Freshfields. Traditionally, in most jurisdictions, antitrust officials weigh whether the benefits of cooperation outweigh any economic harm caused by it. The anti-ESG movement in the U.S. bases its antitrust threats partly on an assertion that climate action provides little societal benefit to outweigh any economic harm of cooperation.

☆ Cyber Chiefs Face Scrutiny and Challenges in 2023’s Uncertain Economy
▼ + stars: | 2023-01-04 | by ( James Rundle | Catherine Stupp | ) www.wsj.com time to read: +5 min

That leaves security teams, in real terms, working with fewer resources, Ms. Huth said. Inflation is pushing wage demands higher and the scarcity of cyber professionals—particularly within highly technical industries such as power—means security staff are in demand, Mr. Bojar said. Newsletter Sign-up WSJ Pro Cybersecurity Cybersecurity news, analysis and insights from WSJ's global team of reporters and editors. Cyber staffs will need to vet third-party services while installing safeguards against new avenues hackers could exploit, Kohler’s Ms. Huth said. Retail giant Amazon.com Inc. hopes to grow its security team, said Chief Security Officer Stephen Schmidt, despite a company-wide hiring freeze and layoffs for up to 10,000 workers elsewhere in the company.

☆ After a Bumpy Year, Renewable Energy Looks Poised for Boom Times
▼ + stars: | 2022-12-29 | by ( Dieter Holger | ) www.wsj.com time to read: +9 min

The future has never been brighter for renewable energy, as some of the snags that kept wind and solar production from going full throttle this year seem poised to ease. What is more, by early 2025, the IEA said it expects renewable energy to be the largest source of electricity in the global power mix, surpassing coal. Driving the IEA’s rosier outlook: First is the global energy crisis caused by Russia’s invasion of Ukraine that led European nations to try to build more renewable energy capacity within their borders to improve their energy security and replace Russian fuel imports. But the climate-and-spending bill’s support for growth of the solar industry should reverse the recent spikes in PPA costs, he said. GridsLong waits for permits and permissions to build new grid infrastructure remain a challenge to getting more renewable energy.

☆ Startup Plans to Make Synthetic Natural Gas With Green Hydrogen
▼ + stars: | 2022-12-22 | by ( Giulia Petroni | ) www.wsj.com time to read: +7 min

Hydrogen company Tree Energy Solutions plans to provide low-emission fuels for businesses in Europe as they struggle with energy shortages and higher prices. PREVIEWRoughly 96% of the hydrogen in Europe is produced using natural gas, resulting in significant CO2 emissions, according to the European Commission, the European Union’s executive arm. Marco Alverà, head of TES and former chief executive officer of Italian gas grid operator Snam SpA, spoke with WSJ Pro Sustainable Business about a green-hydrogen-based process to create synthetic natural gas. Mr. Alverà: I’m a fan of hydrogen, but not of hydrogen in itself. Suddenly, we’ve turned something problematic and illiquid like hydrogen into something very fungible like natural gas.

☆ Cybersecurity Firms Cut Staff as Fears About Economy, Funding Mount
▼ + stars: | 2022-12-21 | by ( Belle Lin | James Rundle | ) www.wsj.com time to read: +5 min

Cybersecurity companies have laid off hundreds of workers in recent months, as concerns mount that an economic downturn will delay funding rounds, and squeeze the amounts investors are willing to commit. But cybersecurity companies often run through cash at high rates, analysts say. Newsletter Sign-up WSJ Pro Cybersecurity Cybersecurity news, analysis and insights from WSJ's global team of reporters and editors. In August, email security firm Malwarebytes Inc. laid off around 125 people, or roughly 14% of its global workforce, a spokesperson confirmed. SHARE YOUR THOUGHTS How would a layoff at one of your cybersecurity providers affect your security strategy?

☆ Companies Must Reduce Impact on Biodiversity Under New U.N. Rules
▼ + stars: | 2022-12-19 | by ( Joshua Kirby | ) www.wsj.com time to read: +5 min

Companies will have to show they are reducing their impact on the world’s natural life, though not to a specific level, under a global plan agreed to Monday. Under the agreement—officially called the Kunming-Montreal Global Biodiversity Framework, or GBF—governments between now and 2030 will introduce laws and policy measures requiring large companies and banks to disclose and reduce the damage done to ecosystems from their operations, supply chains and portfolios. The rules aim to take into account the connection between climate and nature, including cultivated and natural biodiversity, deforestation and water use, the ISSB said. Such measures are “critical to addressing the dangerous loss of biodiversity and restoring natural ecosystems,” COP15 organizers said. Even with the framework agreed upon by nations, assessing companies’ biodiversity impact could be a headache.

Companies’ impact on biodiversity and ecosystems would become an integral part of sustainability reporting under new plans that aim to create a more complete assessment of how businesses harm the environment. Corporations should explain to investors how they are managing resources sustainably, according to reporting rules proposed Wednesday by the International Sustainability Standards Board, an arm of the International Financial Reporting Standards Foundation, an accounting-standards body. The trial could act as a beacon for such reporting and make other companies more comfortable with the idea of reporting their biodiversity impact voluntarily, Ms. Saint-Laurent said. Overcoming reporting challengesGathering data on biodiversity still poses a challenge for corporations and can often involve expensive teams of dozens of experts. “We’re not quite at the point where we’re able to have one single number,” she said, adding, “it’s multiple numbers that show performance.” Unlike carbon-emissions reporting, biodiversity assessment can be complicated and expensive.

☆ EU Delays Labeling Lithium Toxic as Concerns From EV Industry Mount
▼ + stars: | 2022-12-12 | by ( Yusuf Khan | ) www.wsj.com time to read: +4 min

Last week, the European Commission was set to give a final ruling on whether lithium, a crucial battery input, should be classified as a toxic substance. Europe’s nascent battery companies are warning that investors may be drawn away from the continent to the U.S. where the IRA has created strong incentives to establish supply chains in the country. So far, within the European battery industry, Sweden’s Northvolt AB has been one of the few victories for the EU. She said the EU should “simplify and adapt” its rules that limit state funding to make it easier for public investments. For those looking to establish European battery production, the EU’s position on electric vehicles remains confusing.

☆ Companies Face Prospect of New Biodiversity Rules From U.N.’s COP15 Summit
▼ + stars: | 2022-12-08 | by ( Dieter Holger | Joshua Kirby | ) www.wsj.com time to read: +3 min

Participants at a United Nations biodiversity summit under way in Montreal hope to hash out an agreement to help protect nature by pushing countries and businesses to minimize their environmental impact. Unlike the 2015 deal, the proposed biodiversity framework targets companies as well as nations. Biodiversity reporting would add to the challenge, particularly as the metrics are more varied and complex than carbon-emissions data. Biodiversity reporting has been done in different forms for many years. For instance, mining companies often enlist experts to produce an environmental impact report for governments before they start a project.

☆ Brazil, a Bastion of Hydropower, Is Gaining Traction in Wind and Solar
▼ + stars: | 2022-12-06 | by ( Paulo Trevisani | ) www.wsj.com time to read: +8 min

The government, meanwhile, welcomes renewables projects as they can generate jobs and extra income for communities plagued by poverty. The wave of solar, wind and other clean-energy projects is expected to take market share from historically predominant hydroelectric generation. Wind and solar power are abundant in areas thousands of miles north of metropolitan centers where it is mostly needed, industry officials said. New solar and wind plants are generally welcomed by environmentalists and can often offer much-needed income to small farms. Of this total, 83% is expected to come from renewable sources, including hydro, solar, wind and others.

☆ A Microsoft Leader’s COP27 Takeaway: It’s Time for Companies to Get Things Done
▼ + stars: | 2022-12-01 | by ( Dieter Holger | ) www.wsj.com time to read: +9 min

Microsoft Corp. President Brad Smith says there are plenty of emerging opportunities for business leaders to take climate action. The executive who has helped spearhead the tech giant’s sustainability efforts says companies need to step up and do their part. I thought some of the European companies were present but not with senior leadership, not with as many senior leaders as a year ago. But I think if you look over the next 30 years, companies are going to locate manufacturing where there is green energy. It really does serve the world well and our individual companies well if we can standardize some aspects of this.

☆ Products Made With Captured Greenhouse Gas Are Reaching Commercial Scale
▼ + stars: | 2022-11-28 | by ( Dieter Holger | ) www.wsj.com time to read: +6 min

Straws, bottles and packaging made with captured greenhouse-gas are starting to reach commercial scale, offering a way for businesses making and using everyday products to reduce emissions contributing to global warming. Origin Materials Inc. and Newlight Technologies Inc. are trying to meet that demand by bringing factories online that use captured emissions to manufacture materials used to make products including clothes, tires and plastic bottles. Sourcing and transporting raw inputs and captured CO2 are crucial to a product’s so-called carbon-negative credentials, meaning more CO2 is stored than created. The private company sources captured emissions from dairy farms, ethanol plants and landfills, and is expanding into coal mines and exploring direct-air capture. Competitor Origin Materials has a different approach to acquiring captured emissions and plans for its first commercial-scale factory to come online next year.

☆ Cyber Insurers Turn Attention to Catastrophic Hacks
▼ + stars: | 2022-11-28 | by ( James Rundle | ) www.wsj.com time to read: +5 min

While cyber insurance has evolved significantly in recent years, insurers say they might still be unprepared for the fallout from a catastrophic cyberattack. “I think it’s important we stress that the insurance industry has not had a catastrophic event,” said John Coletti, head of cyber reinsurance at Swiss Re. “We have hundreds of years of history of understanding that risk,” Mr. Tiernan said. Part of the challenge for modeling cyber catastrophes is that historical data simply doesn’t exist to produce accurate models, Mr. Tiernan said. “We probably need to pay a little more attention to the assumptions that underpin them.”Write to James Rundle at james.rundle@wsj.com

☆ The C-Suite Survival Guide to Inflation and Economic Turbulence
▼ + stars: | 2022-11-27 | by ( Brian Hershberg | ) www.wsj.com time to read: +5 min

C-suite executives and other business leaders are planning for a period where inflation is sticky, interest rates are rising, the geopolitical landscape is fraught with tumult and the economy is slowing. U.S. retailers, for instance, are struggling to balance consumer expectations for discounts and the need to keep raising prices to offset high inflation. Real-estate companies are finding it costly to hedge their floating-rate debt amid surging interest costs, and even highly rated companies are pursuing term loans instead of bonds to save on interest costs. In Europe, the war in Ukraine is driving inflation, food shortages, and the prospect of a long, cold winter. Here is how marketing executives can continue to sell their brands to consumers during tight times.

☆ Some Companies Band Together to Support Nascent Low-Carbon Products
▼ + stars: | 2022-11-21 | by ( Dieter Holger | ) www.wsj.com time to read: +5 min

Global companies are combining their purchasing power to help commercialize low-carbon technologies as part of their efforts to meet net-zero commitments. One of the biggest corporate spending plans announced at the United Nations climate conference, known as COP27, was the First Movers Coalition. Its 65 member companies promise to collectively purchase $12 billion of nascent low-carbon products and services by 2030 to help suppliers develop their offerings and scale up. Once commitments are made, companies and suppliers meet regularly to share progress and work together. “Microsoft did not join [the First Movers Coalition] in Glasgow last year.

☆ Reported Ransomware Incidents, Costs Soared in 2021, Treasury Says
▼ + stars: | 2022-11-04 | by ( James Rundle | ) www.wsj.com time to read: +4 min

U.S. banks flagged ransomware-related transactions adding up to more than $1 billion in 2021, the Treasury Department said, although risk experts said that barely scratches the surface of cybercrime’s true economic scale. In 2020, such transactions totaled $416 million across 487 reports. FinCEN is an arm of the Treasury that analyzes financial data to identify money laundering, terrorist financing and other crimes. Reports from the first six months of 2021 alone exceeded the total for all of 2020, FinCEN said, noting that around 75% of incidents in 2021 stemmed from Russia-based cyber actors. Newsletter Sign-up WSJ Pro Cybersecurity Cybersecurity news, analysis and insights from WSJ's global team of reporters and editors.

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