Today’s ESG Updates
- Meta to Personalize Ads Using AI Chat Data from December: Meta will use data from users’ AI interactions to tailor ads and content across its platforms
- Investors Push Back Against EU Methane Rule Rollback: Asset managers representing €4.5T are urging the EU to uphold strict methane regulations
- ZF Group to Cut 7,600 Jobs in Powertrain Shift:
The German auto supplier will reduce its workforce by 2030 amid EV market challenges - Nationwide Strike in Greece Over Labor Law Changes:
Greek unions halted ferries, trains, and taxis in protest against a bill expanding work hours
Meta to start using information from people’s AI exchanges to create personalised content
Meta Platforms has announced that people’s interactions with its generative AI tools will be used to create personalised content and advertising across its apps such as Facebook and Instagram. Users of Meta AI will be informed of the changes from October 7 onwards, but do not have the option to opt out. The company stated that users’ interactions with the AI features would be added to existing data such as likes and follows to shape recommendations for content and ads, including Reels and ads. However, Meta will not use information regarding more sensitive topics such as religious views, sexual orientation, political views, health, racial, or ethnic origin. The rollout will begin in most regions on December 16 and expand over time, excluding the UK, the EU, and South Korea.
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Further reading: Meta to use AI chats to personalize content and ads from December
Investors urge EU to uphold methane rules despite pressure from the U.S.
Investors representing over €4.5T of assets have urged the EU against watering down its methane emissions law amid concerns that the rules may be weakened to ease the U.S. LNG imports. Money manager companies are encouraging the EU to uphold the rules requiring oil and gas importers to monitor and report the methane emissions of their suppliers. The investor group has warned that reopening the regulation may undermine companies and investors working towards regulatory compliance, and hinder efforts to reduce the volume of damaging methane gas emissions. These concerns follow U.S pressure to alter the methane regulations, seeing that as part of a trade deal, the EU has pledged to increase purchases of U.S. energy including LNG, oil, and nuclear fuel, to $250B per year. However, an EU Commission spokesperson has said that they are confident that EU methane regulation will not affect trade. Companies can rely on ESG solutions to manage their regulatory compliance amid evolving industry landscapes.
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Further reading: Investors urge EU to uphold methane rules despite US pressure
Klimado – Navigating climate complexity just got easier. Klimado offers a user-friendly platform for tracking local and global environmental shifts, making it an essential tool for climate-aware individuals and organizations.
Over 7,000 jobs to be cut by ZF Group by 2030
ZF Friedrichshafen has announced that 7,600 jobs in its electrified powertrain technology unit will be cut by 2030 under a restructuring deal reached with its works council and labour union, IG Metall. This follows a broader plan announced by ZF Group last year to eliminate thousands of positions in Germany, as the auto industry struggles with global trade demand and a weak demand for EVs. The company also struggles with a high debt burden from past acquisitions. ZF stated that the job cuts would be accompanied by shorter working hours and a postponed wage increase to lower costs by more than €500M by 2027. The agreement includes early retirement options and severance packages with a commitment to avoid forced redundancies. ZF has pledged to help employees to move to new roles, including retraining opportunities. The job cuts indicate broader challenges for Germany’s auto sector, which has cut approximately 55,000 jobs since 2023, with suppliers affected most severely.
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Further reading: Auto supplier ZF Group to cut 7,600 jobs in powertrain unit by 2030
Greek ferries and trains halted due to a strike over working hours
Thousands of workers marched to parliament in Athens in a one-day general strike against labour reforms and a government plan to allow the extension of working hours, stopping the operations of Greek trains, ferries and taxis. The strike was organised by Greece’s largest private and public trade unions who say that the bill hurts workers’ rights, as it would allow employers to seek up to 13 hours of work per day from their staff.. The draft law would give employers more flexibility on short-term hirings and amends rules on annual leave in the private sector. The government says the planned reform, which follows demands for a more flexible labour market, is not obligatory, only applies for up to 37 days a year, and offers workers the chance to get 40% overtime payments. Unions argue that it would increase pressure on workers in Greece, and public sector workers say that the government should increase wages instead. ESG solutions can help corporations stay updated on key rules and regulations.
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Further reading: Greek ferries and trains halted as thousands protest over working hours
Editor’s Note: The opinions expressed here by the authors are their own, not those of impakter.com — In the Cover Photo: Meta logo and Threads app logo in one frame. Cover Photo Credit: Julio Lopez
