Green Top 10 – July 2022

1. Carlsberg testing new wood fibre-based beer bottle

Brewing company Carlsberg is trying new wood fibre, bio-based fully recyclable beer bottles. The company started a pilot application in 9 European countries, including the UK.

The Sustainability Director of Carlsberg stated that they have been working on the Project since 2015 and they aim to set the industry standards by improving the footprints of the bottle and its performance of it.

The company foresees reaching 80% fewer emissions than the current single-use glass bottle.

source: esg today

2. Elon Musk got approval for SpaceX’s Starbase Facilities

Elon Musk’s rocket company SpaceX finally received its anticipated environmental approval from the Federal Aviation Administration (FAA) to expand its Starbase facilities in South Texas. Musk is planning the area to be a central transit hub for SpaceX’s journeys to Mars. The location of the site had been criticized by locals and environmental activists due to the facility’s possible negative effect on rare birds and other animal species.

15 pages long environmental plan lists mitigations that SpaceX will establish in order to decrease its effect on the environment and locals’ life. Yet, trials for the Starship Super Heavy rocket will need to wait until FAA gives the final license.

source: protocol

3. Clean energy investment is breaking records!

International Energy Agency (IEA) just published World Energy Investment 2022 report and according to it, clean tech-driven energy investments are predicted to be increased 8 percent to reach $2.4 trillion.

Trends show that there is a rapid growth of investment in batteries, low emissions hydrogen, and carbon capture utilization. Yet, IEA also reports that this growth is still far from enough to deliver the goals of the Paris Agreement in 2015.

Source: businessgreen

4. Google.org launched a new Impact Challenge on Climate Change

On June 23rd Chief Sustainability Officer Kate Brandt announced. Six projects will receive 5 million USD, and a total of 30 million USD will be received.

Google aims to drive climate action through data and it will support nonprofits, social enterprises using AI, and machine learning. These new technologies can be used to create new solutions with already existing data.

The applications will be open until July 29th and the application window will be open until the 6 teams are chosen.

Source: Google

5. The European Commission Threatens Partners do not meet Sustainability Requirements

The European Commission declared a plan to make trade more sustainable for the EU and their partners. The plan aims to protect the climate, the environment, and labour rights around the world.

EU trade agreements already have sanctions on trade and sustainability yet, from now on the regulations will be stricter and this reform will open for the EU commission to apply sanctions on its partners who do not meet the standards under the Paris Agreement.

Environmental and climate issues gaining importance and the EU Commission aims to transform EU trade into more environmentally friendly, fair and sustainable.

Source: businessgreen

6. European Union agrees on a %40 quotas for women on corporate boards

The European Union agreed to ensure a minimum of %40 women representativeness on boards for companies starting from 3o June 2026. EU will ensure 40% underrepresented sex, mostly women, representation on boards.

In 2021 women’s representation was 30,6% on boards across the EU. French is leading Europe with its 45,3% woman representation on boards across the country followed by Italy and the Netherlands.

The first proposal was given in 2012, for a quota of 40% women on boards yet, the plan was not adopted by big member states. In 2020, the commission revived the draft law after against countries sifting their position.

Source: the guardian

7. Sustainability data firm EcoVadis, joined the “unicorns” club.

It is the first firm in the sector to cross this milestone. EcoVadis provides ratings on environmental, social and governance (ESG) issues and creates solutions for companies to increase their scores.

Most of EcoVadis’s customers are small-scaled companies that constitute the supply chain of larger companies. As regulatory pressure increases on large companies, ESG performance’s importance is increasing.

We can hear more firms like EcoVadis as unicorns in the near future.

source: reuters

8. TotalEnergies and Adani Invested 50 billion USD in World’s Largest Green Hydrogen Ecosystem.

TotalEnergies of France and Indian Adani New Industries (ANIL) partnered up to create the world’s largest green hydrogen ecosystem. Before 2030, it is expected to develop 1 million tons per annum of green hydrogen capacity.

In situations where solar and wind power are less practical, hydrogen is the key element of clean energy. Yet, the development of green hydrogen, using renewable energy to extract from other materials requires a big investment in infrastructure, electrolysis and transport.

Source: esgtoday

9. UK chemicals plant ready to start carbon capture rollout

Carbon capture is valuable to reach the goal of net zero emission by states and private organizations. It is also valuable to collect the carbon and reuse it in pharmaceuticals, food, detergents and products like glass.

A chemical factory in Cheshire, which belongs to the Tata Chemical Europe (TCE) will start capturing carbon dioxide. TCE aims to capture 40.000 tonnes of greenhouse gas per year and reduce its annual emissions by 10%.

If carbon-capturing goes successful, many industries like steel, cement or chemical which needs very high-temperature heat produced from electricity can use captured carbon instead.

Oil companies also Show interest in the Project, in case of successful carbon capturing, oil companies could continue to drill for profitable but polluting oil.

Source: the guardian

10. European Union agreed on the standards of sustainability reporting

European Union is aiming to set the global sustainability reporting standards and keep taking steps on this road. The EU has agreed on corporate sustainability reporting requirements for large companies starting from 2024.

As consumer awareness increases and governance puts regulations on companies, authorities are concerned about whether companies engage in greenwashing or not.

According to the new regulation, companies with over 250 staff and a turnover of 40 million euros shall disclose environmental, social and governance (ESG) risks and also their opportunities, and the impact of their business activities on the environment and people. Disclosures will be externally audited.

Source: reuters