Today’s ESG updates:
- McDonald’s: Rebrands diversity team as Global Inclusion Team, emphasizing belonging, culture, and accountability after a civil rights audit.
- Stellantis & Toyota: To pool CO₂ emissions with Tesla in 2025, using carbon credits to meet EU standards amid zero-emission commitment concerns.
- U.S. Banks: Exit Net Zero Banking Alliance before Trump’s inauguration, citing regulatory uncertainty and refocusing on traditional investments.
- Johannesburg Stock Exchange: Aligns sustainability guidance with IFRS standards, easing reporting and promoting ESG governance.
U.S. banks quit net zero alliance ahead of Trump’s inauguration
Approaching the 2025 inauguration of former President Donald Trump, several U.S. banks have decided to pull out of the Net Zero Banking Alliance (NZBA), a global coalition of banks committed to achieving net-zero emissions by 2050. Citing regulatory uncertainty, banks are shifting focus back toward traditional investment strategies. This has the potential to impact long-term sustainability goals and further increase the divide in ESG commitment between the US and the EU.
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Further reading: Six big US banks quit net zero alliance before Trump inauguration
Stellantis and Toyota among manufacturers to pool CO2 emissions with Tesla
The likes of Stellantis and Toyota, and other automotive manufacturers have announced plans to pool their CO2 emissions with Tesla starting in 2025. Automakers aim to offset their carbon emissions by using Tesla’s carbon credits to meet European Union emissions standards. This collaboration marks a significant step in the auto industry’s transition to sustainable practices. However, this strategy raises questions over the automotive industry’s commitment to zero-emissions goals.
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Further reading: Automakers to pool CO2 emissions with Tesla, Polestar to meet EU 2025 rules
Mcdonald’s rebrands DEI initiative as global inclusion team after civil rights audit
Following a comprehensive civil rights audit, McDonald’s has renamed its diversity team the Global Inclusion Team, aligning with a broader focus on belonging and culture. The company emphasized shareholder collaboration and community empowerment as key factors in this shift. Underscoring McDonald’s commitment to inclusion in the workplace, franchise leaders will remain accountable for fostering inclusivity within teams.
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Further Reading: McDonald’s cools on DEI, shifts to ‘global inclusion’
JSE updates sustainability disclosure guidance to align with global standards
The Johannesburg Stock Exchange (JSE) has updated its Sustainability Disclosure Guidance to align with the IFRS S1 and S2 standards. By consolidating frameworks and exempting Scope 3 emissions disclosure in the first year, these updates simplify corporate sustainability reporting. JSE CEO Dr Leila Fourie emphasized the integration of ESG metrics into corporate governance and highlighted innovations like tokenized markets and growing green bonds. Industry leaders stay on top of all regulation changes, using AI-driven ESG reporting software.
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Further reading: JSE enhances ESG transparency with updated IFRS sustainability standards
Editor’s Note: The opinions expressed here by the authors are their own, not those of impakter.com — Cover Photo Credit: Tyler Tornberg
