edie Updates and Articles for Information

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Concerns mount over loopholes in corporate climate strategies

Concerns mount over loopholes in corporate climate strategies

Environmental NGOs are warning that no corporate climate strategies can be classed as ‘high integrity’, due to a proliferation of unambitious targets to cut emissions this decade and loopholes which allow for an over-reliance on carbon offsets.

The 2024 edition of the Corporate Climate Responsibility Monitor, an annual assessment of climate plans from 51 multinational businesses, has revealed that the average large firm is planning for a 30% reduction in its absolute emissions footprint by 2030.

In contrast, the Intergovernmental Panel on Climate Change (IPCC) has recommended that a 43-50% reduction in global emissions, against a 2017 baseline, is aimed for to give the best chance of reaching net-zero by mid-century along a 1.5C-aligned pathway.

Several companies included in the Monitor are only planning to cut their emissions by between 5% and 20% this decade. Companies in this cohort include Uniqlo’s parent company Fast Retailing, the Korea Electric Power Corporation (KEPCO), Duke Energy and Walmart.

Want to learn how your business can start to incorporate nature into their planning and strategy? This guide answers all of the questions businesses might have concerning biodiversity – a topic that is rising in prominence as the interrelations between climate and nature continue to be explored at a global level.

This new edie report, produced in association with Red Sea Global helps businesses:
•   What is the relationship between biodiversity and business?
•   What are the operational challenges and opportunities surrounding biodiversity?
•   What steps can be taken to reverse nature loss and restore natural habitats?  DOWNLOAD NOW

edie’s new Destination 2030 series focuses on the drivers and innovation opportunities for the built environment. Over the past few years, edie’s annual series of sector-specific insight reports explored the unique (and common) challenges and priorities of the UK’s biggest industries when it comes to sustainability and climate action.

This new edie report, sponsored by Mitsubishi Electric offers a timely reminder of the:
•   Challenges that the built environment currently faces
•   Targets that need to be reached over the next five and half years
•   The new transformational solutions that are required to support in order to transition to a just, low-carbon future.


Amid SBTi controversies, WWF says carbon offsets ‘cannot be a substitute’ for decarbonisation

Amid SBTi controversies, WWF says carbon offsets ‘cannot be a substitute’ for decarbonisation
WWF has issued a statement in response to the Science Based Targets Initiative (SBTi) – of which it is a co-founder – indicating that it could weaken its requirements on the use of carbon offsetting to deliver net-zero targets from businesses.

The initiative stated last week that it will soon publish updated guidance on how companies can use ‘environmental attribute certificates’ including carbon credits to account for the delivery of their climate goals, specifically those relating to Scope 3 (indirect) emissions.

This update is expected to relax guidelines on the use of offsets. At present, companies wishing to align with the SBTi’s Net-Zero Standard can only use offsets to address 10% of their absolute emissions across all scopes.

Attend our webinar on 45-Minute Masterclass: Combining battery storage and renewables on the path to net-zero and cut through the complexities and provide need-to-know information for organisations seeking to combine battery storage with renewable energy as part of a holistic net-zero strategy.
Discussion points:
•   Avoiding the ‘cannibalisation effect’: How battery storage can mitigate low or negative wholesale power prices
•   Overcoming grid and operational challenges to deploy and scale up battery storage systems
•   Integrating battery storage with an energy management system (EMS)

Register now to secure your spot and get latest actionable insights and best practice examples when it comes to businesses deploying battery storage systems alongside renewable energy technologies to meet decarbonisation goals.

Date: Tuesday 30 April – Time: 1pm (BST) – Duration: 45-minute



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