UK to achieve net zero emissions by 2050

Britain made a legally binding commitment on Thursday to bringing all greenhouse gas emissions to net zero by 2050, setting it the first major economy in the world to pass laws to end its contribution to global warming by mid-century.

The target was more ambitious than the previous goal of cutting its greenhouse gases by at least 80 percent on 1990 levels by mid-century, which was enshrined in the Climate Change Act in 2008. The amendment of the 2050 goal, approved by the House of Commons and House of Lords this week, came into effect on Thursday.

The net zero target was recommended by the Committee on Climate Change, Britain's independent climate advisory body. It means any emissions would be balanced by schemes to offset an equivalent amount of greenhouse gases from the atmosphere, such as planting trees or using technology like carbon capture and storage.

Source: http://www.xinhuanet.com/english/2019-06/28/c_138179264.htm

European Airports to cut carbon emissions to zero by 2050

European airports want to cut carbon emissions to zero by 2050 at the latest, Airports Council International (ACI)-Europe said June 26 as its members gathered in Limassol, Cyprus for its annual congress and general assembly.

ACI Europe said 194 airports run by 40 airport operators across 24 European countries had also individually committed to the same objective, marking “a step change in the climate action of the airport industry.”

It estimated that, based on current European airport traffic volumes—2.34 billion passengers in 2018—the commitment would eliminate 3.46 million tons of annual CO2 emissions as of 2050.

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Britain’s first hydrogen train

 "Mini power stations on wheels", is how Alex Burrows from the University of Birmingham describes them.

He is the project director for the 'Hydroflex' train which was showcased at an event in the West Midlands.

Unlike diesel trains, hydrogen-powered trains do not emit harmful gases, instead using hydrogen and oxygen to produce electricity, water and heat.

It is "a fully green fuel", says Helen Simpson from rail rolling stock company Porterbrook, which created the Hydroflex in partnership with Birmingham University's centre for Railway Research.

Read more here: https://www.bbc.com/news/business-48698532

READING MONDAY: Citi Hong Kong invests in renewable energy credits

READING MONDAY: Citi Hong Kong invests in renewable energy credits

Source: https://esg.theasset.com/ESG/37840/citi-hong-kong-invests-in-renewable-energy-credits-

Purchase of renewable energy certificates for 300,00 kWh of electricity puts Citi on track to meet environmental footprint goal of sourcing renewable power for 100 percent of its needs by 2020
By The Asset
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Citi is taking an important step towards achieving its goal to source renewable power for 100 percent of its global electricity needs through the purchase of renewable energy certificates (RECs) from CLP Power Hong Kong Limited (CLP) and the Hongkong Electric Company, Limited (HK Electric). The investment equates to the purchasing of a combined 300,000 kWh of electricity generated by local renewable energy sources, making Citi the current top renewable energy certificate purchaser in the Hong Kong financial sector. These renewable energy resources are either generated or purchased by CLP and HK Electric, and include solar and wind power projects.

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NEW REGULATION IS COMING: EXCHANGE SEEKS VIEWS ON STRENGTHENING ESG RULES AND PUBLISHES GUIDANCE MATERIALS ON ESG AND GENDER DIVERSITY

NEW REGULATION IS COMING: EXCHANGE SEEKS VIEWS ON STRENGTHENING ESG RULES AND PUBLISHES GUIDANCE MATERIALS ON ESG AND GENDER DIVERSITY

The Stock Exchange of Hong Kong Limited (the Exchange), a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEX), today (Friday) announces the publication of:

• Consultation Paper “Review of the Environmental, Social and Governance Reporting Guide and related Listing Rules” (ESG Consultation)
     
• ESG guidance materials (including e-training and Frequently Asked Questions Series 17 and 18); and
  
• Updated Guidance Letter HKEX-GL86-16 (i) setting out our expected disclosure on ESG matters and (ii) requiring disclosures on gender diversity in the listing documents of new applicants.

ESG Consultation

The key focus of the Exchange’s latest ESG Consultation is to support and improve issuers’ governance and disclosure of ESG activities and metrics.

“Our proposals emphasise the board’s leadership role and accountability in ESG and the governance structure for ESG matters. The consultation also seeks to highlight that materiality in respect of ESG is key to meaningful and concise reporting. Our proposal to require disclosure on climate-related issues echoes the increasing international focus on climate change and its impact on businesses,” said David Graham, HKEX’s Head of Listing.  

This consultation reflects the Exchange’s commitment to enhance ESG reporting and disclosure by listed companies, and builds upon its ongoing ESG-related efforts since the launch of the ESG Reporting Guide in 2013.

Key proposals:

• Introducing mandatory disclosure requirements in the ESG Reporting Guide to include:
  • a board statement setting out the board’s consideration of ESG issues; and
  • applications of relevant reporting principles and boundaries in the ESG report;
       
• Requiring disclosure of significant climate-related issues which have impacted and may impact the issuer;
  
• Amending the “Environmental” key performance indicators (KPIs) to require disclosure of relevant targets;
    
• Upgrading the disclosure obligation of “Social” KPIs to “comply or explain”; and
   
• Shortening the deadline for publication of ESG reports to align with the publication timeframe of the annual report (ie within four months (Main Board issuers) or three months (GEM issuers) after the year-end date).

The deadline for responding to the ESG Consultation is 19 July 2019.

Interested parties are encouraged to respond to the ESG Consultation by completing and submitting the questionnaire.

ESG Guidance Materials

E-training: To reinforce the focus of the ESG Consultation, the Exchange has launched an e-training course, “ESG Governance and Reporting”, which explains the board’s leadership role in ESG matters and covers the following six topics:

• What is ESG, and why is it important
    
• Board’s role in ESG governance
    
• Why report on ESG
    
• Essential elements in an ESG report 
• Details on ESG reporting 
• ESG disclosure by IPO applicants

The e-training takes approximately 45 minutes to complete.

More Information from HKEX

Shipping load decisions in Bank will include CO2 emission measures

Shipping load decisions in Bank will include CO2 emission measures

International shipping accounts for 2.2% of global carbon dioxide (CO2) emissions and the U.N.’s International Maritime Organization (IMO), has a long-term goal to cut greenhouse gas emissions by 50% from 2008 levels by 2050. Banks will for the first time include efforts to cut carbon dioxide emissions in their decision making when providing shipping company loans.

Source: https://www.reuters.com/article/us-shipping-environment-banks/banks-to-include-co2-emission-measures-in-shipping-loan-decisions-idUSKCN1TI2W4

READING MONDAY: Bitcoin leaves a carbon footprint as large as Las Vegas, study finds

READING MONDAY: Bitcoin leaves a carbon footprint as large as Las Vegas, study finds

Source: https://edition.cnn.com/2019/06/14/tech/bitcoin-carbon-footprint-trnd/index.html

A new study found that the cryptocurrency Bitcoin requires a lot of electricity, leaving a significant carbon footprint -- one that rivals the environmental impact of Las Vegas or a small country like Sri Lanka.
Each year, Bitcoin generates about 22 megatons in CO2 emissions, the researchers estimate.

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Reading: IKEA shows sustainability can be colorful, motivating and enjoyable

IKEA shows sustainability can be colorful, motivating and enjoyable

Source: https://www.designboom.com/design/ikea-democratic-design-days-sustainability-urbanization-06-12-2019/

images of massive stores and mass-produced items might come to mind when you first think of IKEA, but sustainability is a key driving force behind every action they take and every product they make. in fact, when witnessing all their announcements like ‘ROGNON‘, ‘SAMMANLÄNKAD‘ and ‘urban village project’ from the brand’s democratic design days 2019 event, it is clear to see how devoted they are to sustainability, especially in the age of urbanization. ‘IKEA is an every-growing company so if we want to achieve our sustainability strategy, then we really need to reset everything from materials to production to transportation,’ begins lena pripp-kovac, head of sustainability, inter IKEA group.

launched in 2012 and updated in 2018, ‘people & planet positive’ is IKEA’s sustainability strategy and encompasses everything within their own franchise as well as their value chain. two of their most notable and ambitious aims are to remove single use plastic by 2020, and use only renewable or recyclable materials by 2030.

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Reading: Why The Circular Economy Will Not Fix Fashion's Sustainability Problem

Why The Circular Economy Will Not Fix Fashion's Sustainability Problem

Source: https://www.forbes.com/sites/gulnazkhusainova/2019/06/12/why-the-circular-economy-will-not-fix-fashions-sustainability-problem/#5f4bff4d4d05

Fashion has a sustainability problem. In 2015 the industry was responsible for the emission of 1,715 million tons of CO2. It’s about 5.4% of the 32.1 billion tons of global carbon emissions and just second after the oil and gas industry. Global apparel and footwear consumption are expected to nearly double in the next 15 years–and so its negative impact on the environment.

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SGX Sustainability Reporting Guide

1. Introduction

1.1 Listing Rule 711A requires every listed issuer to prepare an annual sustainability report, which must describe the issuer's sustainability practices with reference to the primary components set out in Listing Rule 711B on a 'comply or explain' basis. This Practice Note contains the Sustainability Reporting Guide (the "Guide"), which provides guidance on the expected structure and contents and the preparation of the sustainability report.

1.2 Sustainability reporting disclosure does not detract from the issuer's obligation to disclose any information that is necessary to avoid the establishment of a false market in the issuer's securities or would be likely to materially affect the price or value of its securities pursuant to Listing Rule 703.

1.3 A glossary of the common terms used in the Guide is set out in paragraph 7 of this Guide.

Source: http://rulebook.sgx.com/en/display/display_viewall.html?rbid=3271&element_id=5450&print=1

SDG 12 - Monitoring of Solid Waste in Hong Kong

According to the report "Monitoring of Solid Waste in Hong Kong", published by the Environmental Protection Department of the HKSAR Government in December 2018, over 5.7 million tonnes of waste are generated every year in Hong Kong, of which almost 70% ends up in landfills. The brand new exhibition at the Museum’s Hong Kong Jockey Club Green Gallery presents major initiatives of The Hong Kong Jockey Club that have helped pioneer new thinking on how to protect the environment in the local community. With the aid of multimedia interactive exhibits, the exhibition promotes United Nations’ Sustainable Development Goal (SDG) 12 – Responsible Consumption and Production – and aims to inspire the visitors to get involved in waste-reduction action and to live a green lifestyle.


Learn more from:  https://www.cpr.cuhk.edu.hk/en/press_detail.php?id=3041&t=cuhk-jockey-club-museum-of-climate-change-launches-responsible-consumption-and-waste-reduction-exhibition-at-the-hong-kong-jockey-club-green-gallery&id=3041&t=cuhk-jockey-club-museum-of-climate-change-launches-responsible-consumption-and-waste-reduction-exhibition-at-the-hong-kong-jockey-club-green-gallery

Chew’s Agriculture - Singapore’s first SME sustainability-linked loan

DBS today announced that Chew’s Agriculture, a leading egg producer in Singapore, has signed a 10-year, SGD 27 million sustainability-linked loan with the bank. This marks a milestone for sustainable development in Singapore – it is the nation’s first sustainability-linked loan for an SME.

The loan was evaluated based on a series of environmental, social and governance (ESG) performance metrics. Chew’s will use the loan for the construction of a new farm with larger cage-free facilities so that hens[1] which lay eggs on the farm will continue to be housed in the most optimum conditions, such as larger litter areas and elevated perches.

Complete story : https://www.dbs.com/newsroom/Chews_Agriculture_signs_Singapores_first_SME_sustainability_linked_loan_with_DBS

High Performance Environmental Management System with Self Serving Data Input

The Consumption Resources in EMS Environmental Management System

• More than 1000 physical locations
• Over 200 active login users
• More than 60 countries accessing instance
• Over 10000 bill records annually
• Over 150 reports for more 10 functional departments
• SDGs target report
• Bill Records for Electricity, Water, Gas, Fuel 
• Recycled Paper management and Business flight travel management
• APIs support system integration

The Electricity Resource lets you update and create Electricity Consumption in a EMS instance. You can use consumption units and emission units to create or update different unit of the same consumption. You can also add or update product pdf.

The EMS's Electricity Consumption API lets you do the following with the Electricity resource. More detailed versions of these general actions may be available.

Want to know more? Request a Demo today

Carbon Emission when business travel

Business travel

Greenhouse Gas and Carbon Emission can be affected by fuel consumption, travel cabin class and length of the jourary. It is more green if you travel in economy, newer aircraft and usage of biofuel.

A very useful tool from Cathy Pacific - Fly Greener Carbon Emission Calculator

https://www.cathaypacific.com/cx/en_MM/about-us/environment/fly-carbon-neutral-fly-greener/calculate-and-offset-your-carbon-emissions.html