A global survey by HSBC revealed that a third of their business customers plan to alter their supply chains in the next three years to make them more socially and environmentally responsible. The measures amongst their customers - a total of 8,500 clients of the bank across 34 markets —plan to take vary depending on the sector. The Wall Street Journal reports that: “Some are switching to renewable energy to reduce their carbon footprint. Others seek to cut down on the amount of goods and components they move when producing an item.”
HSBC found that:
- 17% of companies have already reduced the impact of their supply chain on the environment
- companies in emerging markets appear to be keener to improve the environmental friendliness, with 21% of them planning to make improvements over the next two years, compared to 15% in developed economies.
Wall Street Journal report that: “Cost savings and higher potential profits are a core driver,” according to Bryan Pascoe, global head of client coverage at HSBC commercial banking.
Shell to link carbon emissions targets to executive pay
Shell have reacted to investor pressure and accepted they have a responsibility for global warming. They have now linked executive’s pay to carbon emissions target from 2020.
Shell’s website now has a section on “Climate change: an imperative to act.”
Maersk pledges to cut carbon emissions to zero by 2050
The Financial Times reported that AP Moller Maersk has pledged to cut its net carbon emissions to zero by 2050. This will require the Danish group that transports nearly one in five seaborne containers, their entire supply chain from engine makers and shipbuilders to new technology providers to come up with carbon-free ships by 2030 to meet the goal.
CTMfile take: Achieving zero emissions by 2050 may be too late. What targets has your company set to reduce your carbon emissions?
Migration, environment top global risks 2016, says World Economic Forum
Failure of climate change mitigation and adaptation was seen as the most impactful risk, while large-scale involuntary migration is the risk that could have greatest impact in 2016.
Non-financial, environmental reporting gains momentum
European financial markets authorities are shining a spotlight on non-financial, environmental disclosures in annual statements
Big-picture risk report shows environmental disruption more likely
2017 was the warmest year without El Niño on the historical record so it's no surprise that the 2018 WEF report on business risks found that environmental risks are more prominent than in the past