Half of companies target carbon reduction goals before 2030: survey
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More than half of companies who set carbon reduction targets in the past few years plan to meet their goals by 2030 or before, according to early survey data shared with Callaway Climate Insights from Winmark Global, which runs the chief sustainability officer’s network.
While target dates run out to 2050, about a quarter have set their dates within a decade and more than another quarter are gunning for as early as next year to 2026, according to the data. That’s a remarkable shift from just two years ago, when 2050 was the preferred target because it was, well, out there.
John Jeffcock, the CEO of London-based Winmark, said the survey of the network’s members is continuing as new members join, but that the early results are encouraging. Still, there is a long way to go. Only a third of existing members have a formal plan to cut emissions in place, while the rest are still developing plans.
The most interesting findings to me were the top challenges companies listed in getting a plan in place. Confusing metrics and international regulations were obvious. But problems in committing to Scope 3 supply chain cleanup are interesting as they reflect that companies are holding back on pledges because they worry that they don’t have the clout with their vendors to require emission cuts. The top challenge was finding a way to reduce emissions while still growing profits, with companies saying that hitting ambitious emissions targets will require transformation of their entire organizations, or much of them.
In the end, the great renewables economic transition is going to depend as much on whether it’s a business opportunity as an environmental one.
More insights below. . . .
Don’t forget to contact me directly if you have suggestions or ideas at dcallaway@callawayclimateinsights.com.
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Editor’s picks: Battling pollution in the Gulf states; EV makers need more graphite
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The EPA is stepping up enforcement efforts to combat air pollution, drinking water quality and other health and environment issues in minority communities in three Gulf coast states. The Associated Press reports the agency will conduct unannounced inspections of chemical plants, refineries and other industrial sites suspected of polluting air and water and causing health problems to nearby residents,” citing EPA Administrator Michael Regan. The agency said it plans to install air monitoring equipment in Louisiana’s so-called “chemical corridor” to improve enforcement at chemical and plastics plants between New Orleans and Baton Rouge. The region contains several hotspots where cancer risks are far above national levels, the AP notes.
Reliance on China for graphite hits EV makers
The world’s reliance on China for a vital ingredient in batteries is proving to be another road bump for EV manufacturers — in addition to the semiconductor industry. S&P Global Market Intelligence reports that the concerns stem from the fact that the world is reliant solely on China at some point in the supply chain for graphite. In light of trade battles and rising demand, “U.S.-based battery and car companies have urged President Biden to ease trade restrictions or risk impeding the administration’s push to electrify transportation sectors, according to industry experts. Producers trying to break into the market for graphite, the largest component of lithium-ion batteries by volume, have begun building out new production facilities in the U.S. and Canada, but they are years away from production,” Camille Erickson writes for S&P Global.
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Climate change and the Olympic Winter Games
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More of the latest research:
Words to live by . . . .
“No new coal plants. No expansion in oil and gas exploration. Now is the time for an unprecedented investment surge in renewable energy — particularly in emerging & developing economies — tripling to $5 trillion dollars annually by 2030.” — UN Secretary-General António Guterres.