Edition for 21 January 2020

Top Stories

Climate not considered a top 10 risk by CEOs – survey

  • DAVOS, Switzerland (AP) — Climate issues are set to be one of the main talking points at the World Economic Forum in the Swiss ski resort of Davos this week, but a survey of CEOs released Monday shows that they are not even ranked among the top ten threats to business growth.
  • In its annual report ahead of the gathering in Davos, financial services group PwC said climate change and environmental issues are ranked as the 11th biggest threat to their companies’ growth prospects.
  • Though up one spot from the same survey a year ago, climate-related issues lag way behind other concerns such as over-regulation, which ranks as the number 1 worry.

Deloitte says 41% of Aussie execs want new tech to tackle climate change, social issues

  • While globally only 48% of business leaders believe that climate change will have a negative impact on their business operations, 81% of Aussie executives feel this impact exists.
  • The report focuses on corporate social responsibility, with Australian executives taking the lead on highlighting the importance of acknowledging climate change.

A Surge of New Plastic Is About to Hit the Planet

  • Companies like ExxonMobil, Shell, and Saudi Aramco are ramping up output of plastic — which is made from oil and gas, and their byproducts — to hedge against the possibility that a serious global response to climate change might reduce demand for their fuels, analysts say.
  • “In the context of a world trying to shift off of fossil fuels as an energy source, this is where [oil and gas companies] see the growth,” said Steven Feit, a staff attorney at the Center for International Environmental Law, an advocacy group.

New federally funded climate institute launches after demise of national roundtable

  • The Liberal government will contribute up to $20 million over five years to provide for the new Canadian Institute for Climate Choices, which launched on Tuesday.
  • The institute, which is to maintain independent control over its own research and reporting, is the result of a partnership between 15 climate-focused organizations that answered a federal call for proposals in 2018.
  • The Canadian Institute for Climate Choices will be overseen by an 11-member board of directors that includes Mel Cappe, a former clerk of the Privy Council, Dave Collyer, former president of the Canadian Association of Petroleum Producers, and Christopher Ragan, chair of the former Ecofiscal Commission.

PMI Recognized for Its Climate Leadership with Six Consecutive Years on CDP’s ‘A List’ for Climate Change

  • Philip Morris International Inc. (PMI) was recognized today among the top global companies leading on climate action.
  • Environmental nonprofit CDP, formerly Carbon Disclosure Project, has placed PMI on its ‘A List’ for climate change for the sixth year in a row, recognizing the company’s work to reduce its energy use and carbon emissions and to follow a transparent disclosure process.
  • At the end of 2019, PMI was also recognized for its leadership role in addressing the climate crisis by the “50 Sustainability and Climate Leaders” initiative.

Waiter, There’s a Climate Surcharge in My Soup

  • The initiative will funnel the money it raises into grants for farmers engaged in carbon farming—growing food with a focus on replenishing the soil’s health in order to increase the amount of carbon dioxide it can sequester.
  • “By supporting soil health we can absorb carbon pollution from the atmosphere,” California’s Secretary for Environmental Protection, Jared Blumenfeld, stated in a press release.
  • Myint is also the 2019 winner of the Basque Culinary World Prize for his efforts to help restaurants reduce their carbon emissions.

Appetite for Change: 4 New Ideas to Incentivize Change in How We Produce and Consume Food

  • The new analysis illustrates how the four incentive pathways can reduce agricultural greenhouse gas (GHG) emissions by around 30% of projected global agricultural emissions in 2050 – which is equivalent to more than five times the annual emissions of all aircraft combined.
  • “As the world prepares for the important milestone of the UN Food Systems Summit in 2021, it is our hope that this incentives report will inspire more stakeholders to take action to develop a collective leadership agenda on food systems,” said Dominic Waughray, Managing Director and Head of the Platform for Global Public Goods of the World Economic Forum.
  • “The impact of agriculture on climate change cannot be overstated – it’s both a key contributor and a promising solution.

The Climate Sentinel is an AI-powered news assistant for ESG investors and those concerned about climate change, corporate social responsibility, and related topics. Learn more.

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