From the IBM-JLL partnership to S&P withdrawing from the Indian market, below is a round-up of the latest happenings around the globe:
1. IBM and JLL Partnership: IBM and JLL have joined hands to launch a global sustainability solution to enhance ESG reporting and data management for commercial properties. JLL’s Sustainability Program Management offers services like decarbonization strategies to the commercial real estate (CRE) sector. They will now use IBM Envizi ESG Suite software to support these services. This software helps organizations in the CRE sector manage and report their data for better decision-making and public reporting.
2. BCT Digital and Chartis Research Survey: A new survey by BCT Digital and Chartis Research reveals that global financial institutions are increasing their investment in ESG reporting technology to keep up with growing regulatory pressure around greenhouse gas accounting and integrating climate risk into products.
3. Starbucks and Mercedes Partnership: Starbucks and Mercedes announced the installation of EV chargers in 100 Starbucks stores across the US. Under phase 1, high-power EV chargers will be installed at coffee chain locations along a 1,400-mile route on Interstate 5 from Washington to California. However, this is not the first strategic partnership made by Starbucks. Earlier, they partnered with Volvo to install chargers along a 1,350-mile route from its headquarters in Seattle to Denver. These partnerships form one of the company’s key strategies underlying its environmental pledge “to give more to the planet than we take.” In 2020, Starbucks announced a goal to become a resource-positive company, including storing more carbon than it emits, eliminating waste, and providing more clean water than it uses.
4. Again’s Funding: Danish cleantech startup, Again, has raised USD 43 million to turn industrial CO2 emissions into household products. The company provides solutions to decarbonize heavy industry by using fermentation to turn CO2 into valuable products. Its existing plant in Denmark converts up to a ton of CO2 per day into essential chemicals like acetate, vital for industries such as adhesives, plastics, and cosmetics.
5. Unilever’s Achievement: Unilever recently announced that it has achieved 97.5% deforestation-free palm oil supply. Its advanced satellite data and imagery monitor 20 million hectares of land and it has mapped 36,000 smallholder farmers, enhancing traceability and promoting transparency.
6. S&P Withdrawal from India: S&P is set to withdraw ESG ratings from India following the introduction of regulations by SEBI. This means S&P won’t be able to provide its ESG ratings to Indian customers.
7. Consumer Advocacy Warning: Consumer’s Research Group, a consumer advocacy nonprofit group, warns about the threat posed by the growing ESG movement targeting agriculture, stating that it will drive prices up.
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