Today’s ESG Updates
- Amazon Launches Carbon Credits: Amazon offers carbon credits to business customers meeting ESG criteria.
- BP Activist Investor Targets Lund: Investor calls for vote against BP Chair over lack of energy transition transparency.
- SBTi Unveils New Net Zero Standard: SBTi introduces updated Net Zero Standard focusing on Scope 1, 2, and 3 emissions.
- EU Enhances Investment Strategy: EU Commission boosts financial access and sustainable financing for businesses.
Amazon introduces carbon credits to business customers
For the first time, Amazon has ventured into the carbon credit capital by offering carbon credits to its suppliers, business customers, and other companies. Amazon’s chief sustainability officer, Kara Hurst, stated that with the scheme, Amazon aims to encourage green investment and develop rigorous standards. The credits will only be accessible to companies that meet certain sustainability conditions. Companies aiming to align with sustainable conditions can do so with ESG solutions.
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Further reading: Amazon launches a carbon credit service, enabling access to high-quality credits for qualified companies
BP activist investor calls for a vote against chair Lund over energy transition plan
In yet further turmoil at BP, activist investor Follow This has voiced plans to vote against Chair Helge Lund’s reappointment over lack of transparency over energy transition targets. This conflict comes amid BPs new strategy to target fossil fuels and reduce renewables spending, for which shareholders have not been offered a direct vote. Sustainable investment has not been shown to increase BP’s share price, with it experiencing significantly lower growth rates than its competitors.
Video Credit: BP
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Further reading: BP activist investor Follow This urges vote against chair Lund over energy transition
SBTi unveils proposal for New Corporate Net Zero Standard
The Science Based Target initiative, a key organisation working to align corporate sustainability to global sustainable goals, announced the release of the New Corporate Net Zero Standard. The document includes new updates to Scope 2 target setting and calls for more companies to set Scope 3 target emissions. There is a heavy focus on decarbonisation and increased scrutiny on meeting Scope 1 and 2 emissions targets and companies are now aiming to focus on the more impactful Scope 3 targets. Companies looking for insight into ESG guidelines are highly encouraged to check out the V2 Plan.
Photo Credit: Science Based Targets
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Further Reading: Corporate Net-Zero Standard Version 2.0 Public Consultation
Commissions unveils SIU strategy to enhance financial opportunities for EU businesses
The EU Commission has adopted its strategy for the Savings and Investments Union to provide better access to capital markets and financing options for EU businesses. The strategy focuses on four areas: Better capital access to provide more development potential for businesses, safer investment opportunities for EU citizens, integrated market infrastructure, and efficient supervision across the EU. The strategy will develop through stakeholders, with action prioritised in 2025. Companies can further improve sustainable financing through ESG tools.
Video Credit: EU Debates
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Further reading: Commission unveils Savings and Investments Union strategy to enhance financial opportunities for EU citizens and businesses
Editor’s Note: The opinions expressed here by the authors are their own, not those of impakter.com — Cover Photo Credit: Christian Wiediger
