Author: James Hannay

The UK’s commitment to climate action has come under scrutiny following the COP28 climate conference, with concerns raised about mixed signals and a potential slowdown in ambition. This is the message from a report released today (31 January) by the Climate Change Committee (CCC) which details the key outcomes from COP28, including the next steps for the UK. The report acknowledges the UK’s positive role at the climate conference, including financial support for climate initiatives and backing for key goals like transitioning away from fossil fuels. However, it also highlights concerns about recent policy decisions that appear to contradict these…

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Ingka Group, the largest IKEA franchisee, published its Annual Summary and Sustainability Report FY23, highlighting significant progress in separating business growth from environmental impact. The report marks the first year in which the group has achieved this feat, reducing its climate footprint by 24.3% compared to its 2016 baseline while achieving a 30.9% increase in revenue. IKEA operates through a unique franchise model, where multiple companies manage stores under the single IKEA brand. Whilst Inter IKEA Group B.V. serves as the master franchisor, overseeing the continuous evolution of the brand, Ingka Group is the largest IKEA franchisee, responsible for over…

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The UK public appears to only have a limited understanding of some of the most commonly used corporate environmental terms, according to a new research. The study, conducted by insights firm Trajectory and communications agency Fleet Street, examined the understanding of 20 sustainability terms among 1,000 UK adults. According to the research, while terms like “net zero” and “recyclable” were considered to be well understood by over half the respondents, 59% and 54.8% respectively, concepts like “carbon-neutral” and “circular economy” remained confusing for a significant portion with only 14.9% and 4.4%, respectively saying they were well understood. Read next: What…

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Renewables and nuclear power are poised to meet all additional global electricity demand over the next three years, according to the International Energy Agency (IEA). The insight comes from the IEA’s latest report, Electricity 2024, which aims to provide comprehensive analysis of recent policies and market developments, and provides forecasts through 2026 for electricity demand, supply and CO2 emissions.  According to the report, while electricity demand is expected to grow at an average of 3.4% from 2024 to 2026, particularly in emerging economies like China, India, and Southeast Asia, a positive trend emerges: low-emissions sources are on track to meet…

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Start up focused on leveraging satellite imagery and AI to make critical infrastructure industries more climate-resilient and sustainable, has announced the closing of a $50 million (£40m) Series C funding round. The third investment round of its kind, and one that was oversubscribed, brings the total investment raised by the company to $83 million (£65mn) and suggests a growing investor interest in proven, scalable, and effective climate technologies. Led by Lightrock and backed by influential industry players like National Grid Partners, Schneider Electric’s SE Ventures, Edison International, Shell Ventures, and others, marks significant investor confidence in AiDash’s solutions and their…

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From the roar of the racetrack to the thrill of the pitch, here are the top sustainable sports organisations championing change in 2024. While sports provide entertainment and competition, their ability to transcend differences can make them a powerful force for good. This shared passion, regardless of background or belief, can unite people both in the stands and beyond the playing field. Recognising this potential, non-profit organisations like the Global Sustainability Benchmark in Sport (GSBS) work to promote responsible practices within the industry. GSBS annually ranks professional sports organisations based on various sustainability criteria, to highlight those leading the way…

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The Global Sustainability Benchmark in Sport (GSBS) has released its list of the most sustainable sports for 2023 with Formula E taking pole position. The GSBS is an independent, global, not-for-profit organisation, which analyses and rates the sustainability performance of professional sports organisations. Its reporting framework is based on a mix of internationally recognised standards and best-in-class reports from different industries – which covers four key categories: Corporate, Environmental, Social and Governance. This year, the not-for-profit invited almost 500 organisations to participate, encompassing motorsport, football, tennis, and other major sports leagues. Notably, 55 of the most influential organisations in the…

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9 in 10 fund managers across the US, EU and UK prioritise ESG when selecting counterparties, according to a new study from foreign exchange solutions provider, MillTechFX. The findings come from the European Fund Manager CFO FX Report 2024, which surveyed 250 senior finance decision-makers and European fund managers in order to understand their opinions on best practices, risk management, and hedging strategies, alongside emerging trends like automation and ESG. According to the research, Environmental, Social, and Governance (ESG) was considered a resounding priority when deciding what factors would impact selecting counterparties, with 96% of North American fund managers saying…

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Maserati MSG Racing has unveiled its sustainability initiative designed to drive positive change throughout the Season 10 of the FIA Formula E World Championship. The new initiative, titled ‘SEVENTEEN,’ aligns with the United Nations’ 17 Sustainable Development Goals, and will, among other things, connect with local teenagers impacted by climate change and innovative projects at race locations throughout the season to highlight local issues and incredible causes. SEVENTEEN kicked off at Formula E’s season-opening Mexico City E-Prix, where the team, after strategically selecting targets which aligned with and highlight local issues, focused on the UN’s 11th goal – Sustainable Cities…

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The European Parliament has overwhelmingly approved a landmark directive aimed at tackling greenwashing and improving product information for consumers. Passed on Wednesday (17 January) with an overwhelming 593 votes in favour, 21 against, and 14 abstentions, the new rules seek to revamp product labelling, outlaw deceptive environmental claims, and promote the production of more durable goods. The directive comes in response to concerns that manufacturers are abusing the wave of ‘green sentiment’ from consumers with misleading marketing campaigns, also known as ‘greenwashing. According to the EU Commission, three-quarters (75%) of products on the EU market boast implicit or explicit green…

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