Today’s ESG Updates
- Amazon Orders Electric Trucks: Amazon places a record order for 200+ electric trucks, investing $1B to achieve net-zero emissions by 2040.
- American Airlines ESG Lawsuit: A judge finds American Airlines violated fiduciary duty regarding ESG considerations in retirement plans.
- Gigablue’s Carbon Removal Deal: Gigablue partners with SkiesFifty for the largest ocean carbon removal project, capturing 200,000 tons of CO2.
- Nissan’s JATCO Expansion: Nissan invests £48.7m in a new UK factory for electric powertrains, creating 183 jobs.
Amazon expands electrification with record order of electric trucks
Amazon has placed its largest-ever order of electric heavy trucks. More than 200 Mercedes-Benz Electric trucks will be joining the Amazon fleet. Amazon further plans to invest over $ 1 billion to electrify and decarbonise its supply chain. With these initiatives, Amazon aims to hit its Climate Pledge to reach net-zero emissions across all operations by 2040. Businesses wishing to decarbonise their supply chain can do so with the use of ESG software.
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Further reading: Amazon places its largest-ever order of electric heavy trucks
American Airlines in breach of ESG lawsuit
In a significant legal development, a federal judge ruled that American Airlines breached its fiduciary duty to loyalty in their company’s retirement plans ESG considerations. They accused American Airlines of ignoring the conflicting corporate interests between their company’s ESG goals and their investor’s ESG considerations. The impact on the airlines is still uncertain, but it has raised the magnifying glass on ESG considerations across retirement plans.
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Further reading: Federal judge rules against American Airlines in 401(k) ESG lawsuit
Gigablue secures groundbreaking ocean carbon removal deal
Gigablue has partnered with SkiesFifty to capture 200,000 tons of CO2 from the ocean, marking the largest ocean carbon removal project to date. This collaboration aims to actively sequester carbon in the ocean whilst aiding the aviation industry with carbon offsetting. The technology involves a simple solution involving gravity and nutrients to send carbon-rich substrates to the ocean floors for long-term storage. With this solution, industries looking to reduce carbon emissions can put a vote of confidence in the credibility of ocean-based carbon offsetting.
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Further Reading: Gigablue Announces Largest-Ever Ocean Carbon Removal Agreement with SkiesFifty, Capturing 200,000 Tons
Nissan’s JATCO expansion: driving sustainability in the UK
JATCO Ltd has officially opened a new factory in Sunderland, UK. This new factory will facilitate the existing Sunderland Nissan factory in producing electric powertrains for Nissan products. The facility represents a £48.7m investment and will create 183 jobs. The new investment will come as a boost for both Nissan and Sunderland after the recent troubles Nissan has been facing. Some experts say that businesses wanting to increase investment, like Nissan, should use ESG solutions.
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Further reading: JATCO establishes JATCO UK in Sunderland
Editor’s Note: The opinions expressed here by the authors are their own, not those of impakter.com — Cover Photo Credit: Nico Baum
