Axiom – Business Sustainability Digest – March 2022

A Round-up of Sustainability News From Across the Globe

A Round-up of Sustainability News From Across the Globe

Russia’s invasion of Ukraine asks tough questions of ESG

Can the defence industry ever be sustainable? Can you focus on ESG in an unstable world? Is our job to navigate the world as it is, or as we would like it to be?

The war in Ukraine has opened up an interesting moral dilemma about ESG, investment and the defence industry – this article explores some of the key questions we need to grapple with.

Climate change: Can the Russian energy crisis help to curb global heating?

Can the government wean Britain off Russian gas while also keeping energy affordable and hitting its climate change targets?

It’s a huge challenge, and one that we’re all going to have to play a part in. We already have many of the sustainable solutions required to cut our dependence on overseas gas, but they need to be accelerated if we’re going to achieve it. 

Amazon Rainforest Reaching Tipping Point

A study suggests the world’s largest rainforest is losing its ability to bounce back from damage caused by droughts, fires and deforestation.

Deforestation and climate change are likely to be the main drivers of the decline. Companies can play their part in saving it, by looking very carefully at their supply chains and where they are sourcing their commodities from!

CMA publishes environmental sustainability advice to government

Advice includes clarifying the law on providing environmental information, and introducing standard definitions for terms like ‘recyclable’ and ‘carbon neutral’.

We see standardising the language around sustainability with some stricter definitions as a positive step that will make it much easier for consumers to compare products on their sustainability credentials and make more informed choices. 

Reckitt launches decarbonisation ‘living lab’ in Hull 

Leading manufacturer Reckitt is working with more than 35 businesses and community representatives to transform areas of Hull into a “living lab” that showcases how we can reach net-zero emissions.

It’s great to see one of Hull’s leading businesses leading the way and putting pledges into practice. It’s a real-world study that could offer a realistic, practical economic blueprint for other areas in the UK to follow. 

UN – ‘Madness’ to turn to fossil fuels because of Ukraine War

The California Senate has passed the Climate Corporate Accountability Act (CCAA) – the first law in the

The UN Secretary General says the rush to use fossil fuels because of the war in Ukraine is ‘madness’ that threatens global climate targets. 

With time running out, even a short-term shift in policy back towards fossil fuels could compromise the Paris climate goals. Governments are facing a real challenge – and there’s a risk that countries become so consumed with the immediate supply gap that they neglect or compromise policies to cut use. 

Climate change: IPCC report warns of ‘irreversible’ impacts of global warming

Many of the impacts of global warming are now simply “irreversible” according to the UN’s latest assessment – but the report does say there is still a brief window of time to avoid the very worst.

The clock is clearly ticking, and the risk of inaction has become unacceptable. We need to drive real change this decade if we’re going to mitigate the worst problems.

SEC Proposes Rules to Enhance and Standardize Climate-Related Disclosures for Investors

Rule changes would require registrants to include climate-related disclosures in their registration statements and periodic reports, including information about climate-related risks and greenhouse gas emissions.

We think it’s good news. If the changes go through, it will provide investors with consistent and comparable information – helping them to make more informed decisions when it comes to sustainability.

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