Today’s ESG Updates
- Key Finding Exposes Regulatory Gaps in the U.S. and EU: Polymers, long seen as a safe alternative, pose serious environmental and human health risks
- Rapid Growth in the Green Market: Key sectors like green hydrogen see growth despite political turmoil
- French Senators Propose to Postpone CSRD: Senators proposed a four-year delay in sustainability reporting requirements for French companies
- Biggest Polluters of 2023 Revealed: New Carbon Majors report exposes 36 companies alone contributed 50% of CO2 emissions
95% of Commercial Chemicals Are Untested for Safety: New Study Exposes Regulatory Gaps
A new study published in Nature Sustainability reveals that polymers, which are largely exempt from U.S. and EU chemical safety regulations, break down in the environment and increase in toxicity. Polymeric brominated flame retardants (polyBFRs), considered a safe alternative to non-polymeric BFRs in electronics and building materials, are now shown to pose risks. The findings expose the risks of what were once viewed as “safe” alternatives to “forever chemicals,” raising significant implications for the chemical industry. ESG solutions can help businesses and investors navigate growing environmental concerns and regulatory changes.
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Further reading: A ‘Trojan Horse’ for Toxic Chemicals
The Green Market is Growing Fast: 48.7% CAGR Revealed in BCC Research Report
A March 5 study by BCC Research reveals that the Green Market is experiencing rapid growth, with a projected 48.7% compound annual growth rate (CAGR). The report identifies key sectors driving this growth, including green hydrogen, solvents, mining, and tires. Notably, the global green hydrogen market expects immense growth from $5.2 billion in 2024 to $38.1 billion by 2029. Major drivers include advances in renewable energy, innovative green finance solutions, and evolving consumer preferences for sustainable alternatives.
Photo Credit: Markus Winkler
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Further reading: Green Market Surges: 48.7% CAGR Driving Sustainability: BCC Research Study
French Senators Propose to Repeal or Postpone Sustainability Reporting Requirements
The European Commission published its Omnibus simplification package last week, proposing significant amendments to the Corporate Sustainability Reporting Directive (CSRD) and the Corporate Sustainability Due Diligence Directive (CSDDD). On Tuesday, French senators proposed a four-year delay in implementing sustainability reporting requirements for French companies, citing significant operational difficulties with the current CSRD timeline. This position will be debated publicly next week and may change, though it echoes previous French positions calling for delays in reporting requirements.
Photo Credit: Doctor Tinieblas
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Further Reading: French Senators Propose Repealing or Postponing the Implementation of CSRD Requirements Under French Law
36 Fossil Fuel Firms Responsible for Half of Global CO2 Emissions in 2023
A recent Carbon Majors report reveals that just 36 fossil fuel firms were responsible for half of global CO2 emissions in 2023, with state-owned giants like Saudi Aramco, China Energy, and Shell among the top offenders. The report underscores the ongoing rise in global fossil fuel demand and consequent emissions, despite global climate commitments, and highlights the pivotal role these 36 companies play. Our ESG solutions offer valuable insights for businesses and investors interested in the shift towards a more sustainable energy future.
Photo Credit: Jethro Carullo
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Further reading: These 36 fossil fuel firms are responsible for half of global emissions, report reveals
Editor’s Note: The opinions expressed here by the authors are their own, not those of impakter.com —Cover Photo Credit: Rob Lambert
