Here at Sustaira, we get to know all of our employees very well and we want you to know them too! For every new team member, we ask them the following questions to learn about who they are and why sustainability matters to them. Today, we introduce Rory O’Sullivan. Read Rory’s interview and enjoy!

The Dutch appeals court is currently hearing Shell's appeal against a landmark 2021 ruling that held the company responsible for greenhouse gas emissions from its products and mandated a significant reduction by the end of the decade. Originating from environmental groups, the case argues Shell breached its legal duty of care and undermined the Paris Agreement's goals. Shell contends that complying with the ruling could harm the Dutch economy and sets an unrealistic emissions reduction target, while disclaiming responsibility for customers' emissions. Friends of the Earth Netherlands remains confident, citing Shell's revised climate ambitions, as the proceedings aim to resolve a crucial legal battle over corporate accountability for climate change.

The U.S. Department of Energy (DOE) has allocated $6 billion across 33 projects targeting emissions reduction in industries like chemicals, steel, food, refining, and cement, marking the largest-ever U.S. investment in industrial decarbonization. With expectations to cut over 14 million metric tons of CO2 annually, these projects, supported by the Industrial Demonstrations Program, aim to scale up decarbonization technologies, accelerate deep decarbonization, spur widespread adoption, create cleaner product markets, and benefit local communities. Notable projects include the Green Aluminum Smelter, Lebec Net Zero Cement Plant, and Hydrogen-Fueled Zero Emissions Steel Making, emphasizing America's commitment to climate action and economic competitiveness under Secretary Jennifer M. Granholm's leadership.

The European Climate Risk Assessment (EUCRA) highlights the growing threat of extreme weather events across Europe, including heatwaves, droughts, wildfires, and flooding, which are expected to worsen despite optimistic climate scenarios. Urgent action is needed, especially in Southern Europe, where challenges in agriculture, health, and coastal resilience are pronounced. With 36 major climate risks identified, over half require immediate attention, including safeguarding ecosystems, mitigating heat-related health risks, and enhancing infrastructure resilience. Collaboration among the EU, member states, and local authorities is crucial to bridge knowledge gaps and implement effective policies, better preparing Europe for the challenges of climate change.

The Science Based Targets initiative (SBTi) has removed the net-zero commitment status for 239 companies, including major players like Microsoft, Procter & Gamble, Unilever, and Walmart, due to challenges in meeting ambitious emission reduction targets. These companies collectively represent over $4 trillion in market capitalization and struggle particularly with reducing Scope 3 emissions. SBTi is reviewing its Corporate Net-Zero Standard to provide clearer guidelines by 2025. Despite the setback, companies are reaffirming their sustainability commitments and engaging with SBTi to validate their targets, emphasizing ongoing efforts to align with the Paris Agreement goals.

A recent study reveals that two anti-ESG laws passed in Texas in 2021 have caused a significant loss of jobs, decreased economic activity, and reduced tax revenues. Economist Jon Hockenyos emphasizes the unintended consequences of government interference in business decisions, stressing the importance of a free market. The research also shows increased borrowing costs for the state and higher fees for local governments issuing bonds due to reduced competition. Despite opposition, the legislation remains, reflecting a trend of prioritizing industry interests over environmental and social concerns.

Fashion and design brands company H&M Group, in collaboration with impact-focused venture investor Vargas, has launched Syre, a new venture focused on mass-producing textile-to-textile recycled materials. The initiative, starting with a $600 million offtake agreement for recycled polyester over seven years, aims to create a closed-loop solution for the clothing industry. Syre, led by CEO Dennis Nobelius, is building its first production plant in North Carolina and plans to expand globally, targeting over 3 million metric tons of recycled polyester production within ten years.

Singapore has officially introduced mandatory climate-related reporting requirements for listed and large non-listed companies, aligning with IFRS ISSB standards by 2025. The phased approach, recommended by the Sustainability Reporting Advisory Committee, begins with listed companies in 2025 and extends to large non-listed firms by 2027. The reporting framework includes disclosing Scope 1 and 2 emissions initially, with the government aiming to enhance sustainability capabilities and provide companies with improved access to markets, customers, and financing opportunities.

The U.S. Securities and Exchange Commission (SEC) has officially approved long-awaited climate-related disclosure rules for U.S. public companies. These rules mandate that companies disclose critical information in their annual reports and registration statements. Specifically, they must address climate risks, outline mitigation plans, assess the financial impact of severe weather events, and, in certain cases, report greenhouse gas emissions stemming from their operations. This marks a significant step toward greater transparency and accountability in corporate climate reporting.

California's Energy Commission has approved a groundbreaking $1.9 billion investment plan to accelerate the deployment of electric vehicle (EV) charging and hydrogen refueling infrastructure. As part of the larger $48 billion California Climate Commitment, with over $10 billion allocated to zero-emission vehicles (ZEVs) and infrastructure, the plan aims to add 40,000 new chargers over the next four years, contributing to a total of 250,000 chargers in the near future. This initiative marks a significant step toward California's ambitious climate and clean transportation goals.

A recent BCG article emphasizes the growing demand for green data and outlines key practices for information services providers to succeed in the sustainability sector. Recommendations include focusing on existing clientele, aligning with specific value targets, and anticipating regulatory impacts. The crowded sustainability information ecosystem is noted, with traditional providers facing challenges in establishing substantial revenue streams. The article envisions three phases in the sustainability journey, urging companies to act swiftly to contribute to customer success and accelerate the path to net zero.

The KPMG US survey reveals that almost half of large companies still use spreadsheets for ESG data management despite an increased focus on ESG reporting. The survey of 550 executives shows that 90% plan to boost ESG investments in areas like dedicated personnel, specialized software, and training. However, there's a significant gap between perceived ESG reporting capabilities and actual readiness, with 47% relying on spreadsheets. Companies express a commitment to improvement, including the use of artificial intelligence and machine learning for data analysis. This article emphasizes the need for a broader sustainability strategy and strategic investments to effectively communicate sustainability values to the business.

Here at Sustaira, we get to know all of our employees very well and we want you to know them too! For every new team member, we ask them the following questions to learn about who they are and why sustainability matters to them. Today, we introduce Jaap van der Velden. Read Jaap’s interview and enjoy!

Here at Sustaira, we get to know all of our employees very well and we want you to know them too! For every new team member, we ask them the following questions to learn about who they are and why sustainability matters to them. Today, we introduce Qaainat Issa. Read Qaainat’s interview and enjoy!

For the first time, the average global temperature has surpassed the critical benchmark of 1.5 degrees Celsius above pre-industrial levels over 12 months. The findings from the Copernicus Climate Change Service (C3S) indicate that the global mean temperature for February 2023 to January 2024 reached an unprecedented 15.02 degrees Celsius, exceeding the 1.5C threshold set in the 2015 Paris Agreement.

Global investment in the low-carbon energy transition hit a record $1.77 trillion in 2023, up 17%, according to BloombergNEF's Energy Transition Investment Trends 2024 report. Electrified transport, growing 36% to $634 billion, outpaced renewable energy spending at $623 billion. China led in investment with $676 billion, but the EU, US, and UK collectively exceeded China with $718 billion. The report underscores the need for an annual average of $4.8 trillion from 2024 to 2030 to achieve net-zero goals. Clean energy supply chain investment reached $135 billion in 2023, projected to rise to $259 billion by 2025. Trends in climate-tech equity raising ($84 billion) and energy transition debt issuance ($824 billion) show declining equity and rising debt, with utilities leading in debt issuance, and oil and gas companies' issuance decreasing.

A recent Harvard Business School article explored the impact of ESG issues on corporate profitability, presenting a framework tracing their evolution to pivotal factors. Using Purdue Pharma as a case study, it highlights increased understanding of ESG materiality, with companies measuring and reporting on ESG data. The framework offers insights for entities balancing financial and societal motivations, stressing the catalyst role of designating ESG issues as "financially material." The authors aim to shift perception towards proactive management of emerging ESG issues in corporate decision-making.

The European Council approved legislation to slash greenhouse gases, aiming for a 500 million-tonne CO2-equivalent emissions reduction by 2050. Heralded as the world's most ambitious, the rules target a complete phase-out of hydrofluorocarbons (HFCs) by 2050 and a 95% reduction by 2030, restricting the use of F-gases in favor of climate-friendly alternatives.

Sustainability and ESG software provider, Sustaira shares their 2023 year-end review, accelerating growth with a marketplace announcement and API focus in 2024.

Global business leaders are increasingly optimistic about sustainability, with 52% planning to boost investments in 2024. The survey by Capgemini Research Institute involved 2,000 leaders across 15 countries, revealing a rise in confidence, with 56% anticipating future sustainability investments. This shift is driven by increasing awareness of climate disruptions' impact on businesses and government incentives. Government programs like the Inflation Reduction Act and the Green Deal Industrial Plan are influencing climate awareness and sustainable investment plans, with a great number of organizations planning to invest in clean energy technologies.