Rolls-Royce, Tecnam and Widere develop electric passenger airplane

March 31, 2021 by  
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Rolls-Royce, Tecnam and Scandinavia’s largest airline, Widerøe, have entered into a partnership that will see the launch of an all-electric aircraft for passengers by 2026. Rolls-Royce and Widerøe first entered a joint research program in 2019, which was aimed at developing a viable electric aircraft to fulfill Norway’s ambition of having only zero-emission domestic flights by 2040. Due to its topography, Norway largely relies on airways for connection, as is the case with most Scandinavian countries. Related: Rolls-Royce unveils prototype for world’s fastest electric plane “Norway’s extensive network of short take-off and landing airports is ideal for zero-emissions technologies,” said Stein Nilsen, CEO of Widerøe. “This aircraft shows how quickly new technology can and will be developed, and that we are on track with our ambition of flying with zero emissions around 2025.” Rolls-Royce will offer its expertise in developing the power and propulsion systems. On the other hand, Tecnam will be responsible for developing the aircraft design as well as overseeing manufacturing and certification. Once the plane design is ready, Widerøe will take over to ensure that airline operations are prepared for service by 2026. “We are highly excited to be offered the role as launch operator, but also humble about the challenges of putting the world’s first zero-emissions aircraft into service,” said Andreas Aks, chief strategy officer at Widerøe. “Our mission is to have all new capabilities, processes and procedures required for a zero emissions operator, designed and approved in parallel with the aircraft being developed and certified.” Currently, Rolls-Royce is a leading global manufacturer of aircraft engines and other airplane parts. Given the influence it has in the manufacturing of aircraft and submarine parts, Rolls-Royce can help the world move away from emissions in this sector. + Rolls-Royce + Tecnam Via CleanTechnica Image via Rolls-Royce and Tecnam

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Biden pushes to expand offshore wind energy

March 31, 2021 by  
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On Monday, President  Biden  announced that he intends for the U.S. electricity sector to be carbon neutral by 2035. His sights are set on lots of wind energy and lots of jobs. Later this year, the Interior Department intends to begin selling leases for a new wind energy area between the Jersey coast and Long Island. These relatively shallow waters are known as the New York Bight. The project is called Ocean Wind. A 2020 study by the Wood Mackenzie research firm predicted that constructing wind  turbines  in the bight could support approximately 32,000 jobs over the next decade. About 6,000 of these jobs would be permanent. Related: Reindeer herders in Norway take a wind farm to court “President Biden believes we have an enormous opportunity in front of us to not only address the threats of  climate change , but use it as a chance to create millions of good-paying, union jobs that will fuel America’s economic recovery,” White House National Climate Adviser Gina McCarthy said in a statement. Eventually, the Biden administration envisions the  offshore wind industry  operating all along the east and west coasts and the Gulf of Mexico. By 2030, they aim to deploy 30 gigawatts of turbines — enough to fuel 10 million US homes. “In areas like the Gulf Coast, you will find steel fabricators, heavy lift vessel operators, subsea construction companies, helicopter service providers and more who built their experience in the  oil  and gas industry but will be vital in building offshore wind,” National Ocean Industries Association president Erik Milito said in a statement. But not everybody is stoked about massive wind farms operating off coasts. Local opposition, such as  Save Our Shoreline NJ , say the new wind energy would hurt recreation, tourism and the commercial fishing industry. The Biden administration has promised $1 million in grants to assess wind energy’s impact on fishing. The U.S. is partnering with other countries that are already deep in the wind business. The  National Oceanic and Atmospheric Administration  agreed to share ocean mapping and other environmental data with Ocean Wind’s Danish developer Ørsted. Via NPR Lead image via Pixabay

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Biden pushes to expand offshore wind energy

C.F. Mller completes Carlsberg Central Office in Copenhagen

March 31, 2021 by  
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In the heart of Copenhagen, C.F. Møller Architects has completed the Carlsberg Central Office, a new office of the Carlsberg Group on the same hill that the world-famous Carlsberg Breweries was first established in 1847. Blending historic design influences with a modern aesthetic, the Carlsberg Central Office is a landmark building for the Carlsberg City District, a new 600,000-square-meter, mixed-use neighborhood with residences, offices, retail and restaurants that’s slated for completion in 2024. To meet targets for sustainable and low-energy construction, the office building features durable, natural materials and eco-friendly features including recycled copper and bamboo, solar panels, green roofs , water-saving fixtures and heat recovery ventilation systems. Completed last summer, the 23,200-square-meter Carlsberg Central Office consists of three wings, one of which crosses over one of the neighborhood’s main access roads — a design choice that echoes the famous classical gateways characteristic of Carlsberg City. The other two wings frame views of the historic garden and villa of Carl Jacobsen, the Danish founder of the Carlsberg brewery. Related: Schmidt Hammer Lassen designs BREEAM-seeking brewery renovation in Riga All three building wings unite in the central atrium that connects all floors of the building as well as the office areas, both vertically and horizontally, into a “single working community” to foster a sense of collaboration and openness. Employees are also given flexibility with multiple workplace options including “touch-down” temporary workstations, while informal meeting spaces, such as a large staircase furnished with seating pads, encourage spontaneous social interaction. Large expanses of glazing wrap the exterior to fill the interiors with natural light, which is modulated by vertical slats plated with copper in a nod to the old brewery tanks and historic buildings in the Carlsberg City District. The height of building is also tapered downward to respect the scale of the smaller surrounding houses and Jacobsen’s villa. + C.F. Møller Architects Photography by Adam Mørk via C.F. Møller Architects

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C.F. Mller completes Carlsberg Central Office in Copenhagen

Designer Lucas Couto joins Precious Plastic for recycling project

March 25, 2021 by  
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Lucas Couto, Senior Industrial Designer at EGGS Design in  Norway , is focused on turning plastic pollution into innovative recycled designs. The designer has teamed up with plastic recycling company Precious Plastic to help reveal the potential of plastic waste in the design space. According to Precious Plastic, the world produces about 300 million metric tons of new  plastic  each year. And since plastic has one of the slowest decomposition rates — close to 500 years — all of that waste has the potential to stick around for generations to come. The company is on a mission to show the world the opportunities of plastic waste, reduce the demand for virgin plastic and create a circular economy based around plastic recycling. Related: KALO’s PVC Bench is made from plastic waste and wood scraps Precious Plastic teaches everyday people how to create their own plastic  recycling  company and turns almost any type of plastic waste into large colorful sheets of new material that can be used to make different types of products (such as furniture and construction pieces). Upcycled plastic sheets come in a variety of colors based on the plastic products used in manufacturing. The community develops tools and machines that recycle plastic and share it with others around the world. Now, the company is collaborating with designer Lucas Couto on a project aimed at engaging the community in designing recycled plastic products. Over three weeks in July 2020, the Recycled Plastic Product series focused on challenges centered around different Precious Plastic Machines. Each week highlighted a different plastic recycling  technology : injection molding, beam extrusion and sheetpress. For example, a stool designed by Couto used extruded beams made from sheets of recycled plastic made up of four separate pieces that fit together. Another  stool  design helps to visualize the sheet press materials. After becoming inspired by the nursery pots around his home, the designer also created flower pots that highlighted the looks of mixed color injection molding while providing a product that would benefit from recyclability. + Lucas Couto Images via Lucas Couto

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GM airs funny electric vehicle commercial during Super Bowl

February 10, 2021 by  
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While people rooted for the Kansas City Chiefs or Tampa Bay Buccaneers last Sunday, General Motors waged a war with greater implications. The foe? Norway . General Motors’ war isn’t directed at the Norwegian people but at beating them for global leadership in electric vehicles sales. For a commercial that aired during the Super Bowl, the auto company recruited actors and comedians Will Ferrell, Kenan Thompson and Awkwafina (Nora Lum) to play three Americans ready to fight Norway for EV supremacy. The commercial is part of GM’s “Everyone In” ad campaign designed to bring electric vehicles into the mainstream and increase North American sales. Related: GM pledges carbon neutrality by 2040, expands electric fleet So far, the Chevy Bolt has been General Motors’ EV offering. But in the last few months, the company has introduced the new Cadillac Lyriq SUV and the GMC Hummer EV. Hummer fans may be able to buy an electric model by the end of 2021. The Lyriq will likely go into production late next year. Both of these vehicles are featured in the Super Bowl commercial. General Motors has promised 30 models at a variety of price points coming out over the next four years and plans to sell only electric vehicles by 2035. “We feel like this transition is one that will protect all of our futures,” said Dane Parker, GM’s chief sustainability officer. “And it will help us create a future that will benefit not only the planet but the people.” So why take on Norway? More than half of cars sold in the Scandinavian country are electric, compared to about 4% in the U.S. General Motors was careful to prepare Norwegian leaders in advance of airing the commercial. The officials must have had a sense of humor about it, because part of the commercial was even filmed in Norway. Ultimately, the Super Bowl ad pokes fun at Americans, not Norwegians. Especially the ending, which mocks Americans’ notoriously bad grasp of geography when Will Ferrell winds up in Sweden while Awkwafina and Thompson find themselves on a snowy road in Finland. + General Motors Via Motor Biscuit and CNET Images via General Motors

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GM airs funny electric vehicle commercial during Super Bowl

Reindeer herders in Norway take a wind farm to court

January 21, 2021 by  
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Reindeer herders of the Sámi Indigenous community have moved to a court of appeals in Norway to challenge a proposed wind power project. The Øyfjellet wind farm is one of the largest onshore wind projects in Norway and is expected to help the country move away from traditional fossil fuels. But reindeer herders have maintained that the project will negatively impact their animals and cultural practices by illegally blocking reindeer migration paths. “The Sámi people are not the ones who have contributed the most to climate change, but we seem to be the ones who have to carry its greatest burden,” said Gunn-Britt Retter, the head of the Arctic and environmental unit at the Sámi Council. “That’s not climate justice , that’s climate injustice.” Related: Hydropower demand is damaging Indigenous lands The Sámi community lives in Norway, Finland, Sweden and Russia. They traditionally made their living through herding reindeer, and this practice is now protected by law. Only about 10% of the Sámi people still practice reindeer herding full-time in Norway. Even so, herding remains important to the community. Members of the community lament that if wind farms are built on their lands, the turbines will greatly affect the available area for herding the animals . “Studies and Indigenous knowledge show that reindeer don’t go near wind turbines,” said Áslak Holmberg, the vice-chair of the Sámi Council. “These areas are lost from use to the herders.” In September 2020, a court ruled against the reindeer herders, giving the project the green light. The herders have now opted to take the case to the court of appeals, with the hope of stopping the project or having some aspects revised. “From our client’s point of view, it seems that the government will go far to protect the construction of a wind power plant that has been given concession and that this trumps the rights of the Indigenous people,” said Pål Gude Gudesen, the lawyer representing the reindeer herders. Both Tony Christian Tiller, state secretary of the Energy Ministry in Norway, and Eolus, the company behind the proposed wind farm, have said they hope to see that the reindeer and the wind turbines can coexist. But the Sámi community said that both the government and energy companies are not taking Indigenous concerns into account. “It’s a paradox, really,” Retter said. “You are squeezed between the impact of climate change and the impact of green energy , which is the answer to climate change.” Via The Guardian Image via Bo Eide

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Suspended treehouses provide epic views of a fjord in Norway

January 11, 2021 by  
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Just 20 minutes from the town of Odda, through the steep Norwegian hillsides, something magical sits at the edge of the fifth-longest fjord on Earth. Two suspended treehouses are built 5 to 6 meters above the forest floor and fastened with steel collars to the individual trunks of two living pine trees. The treehouses, known collectively as Woodnest, were created by Helen & Hard Architects in response to the topography and conditions of the stunning site for a client who wanted to form a deeper connection with nature. Completed in 2020, each treehouse is connected to the ground via a small timber bridge. Each treehouse measures just 15 square meters and is carefully constructed around the central tree trunk. There are four distinct sleeping areas, a bathroom and an open kitchen and living space as well as breathtaking views across the forest, down to the Hardangerfjord water below and toward the mountains in the distance. Related: Elevated, green-roofed cabin minimizes impact on mountain in Norway According to the architects, the use of timber as a building material is inspired by the Norwegian cultural tradition of using wood in architecture along with the desire to experiment with the material’s potential. Each structure is supported by the tree trunk and a series of glue-laminated timber ribs, while untreated natural timber shingles help create a protective skin around the treehouse. As time progresses, the timber will weather, merging further with the forested surroundings. With sweeping windows that wrap around the entire building and out toward the fjord, the treehouse allows people to slow down and appreciate the true, natural beauty around them without the distractions that come from a contemporary vacation home . In this chic, minimalist treehouse, which is elevated off the just ground enough to feel as though you’ve become one with the forest, we can’t think of a better place to get away from it all. + Helen & Hard Architects Photography by Sindre Ellingsen via Helen & Hard Architects

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Suspended treehouses provide epic views of a fjord in Norway

UN warns that humans will lose their war against nature

December 7, 2020 by  
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Fiction writing students learn about the handful of archetypal plots, including man versus nature . Usually that means something like 127 Hours, where a hiker in Utah gets stuck in a slot canyon, or Life of Pi, where a man and a tiger try to survive being shipwrecked together. But a plot about humans who set out to ruin the water, air, soil and planet that sustained their life would just be stupid, right? But that is exactly what we are doing, according to UN Secretary-General António Guterres, who issued a statement last Wednesday condemning humanity for waging war against the environment and urging people to change their ways. Related: Biden and Harris gear up for a fight to slow climate change “We are facing a devastating pandemic , new heights of global heating, new lows of ecological degradation and new setbacks in our work towards global goals for more equitable, inclusive and sustainable development,” Guterres said, speaking from Columbia University in New York. “To put it simply, the state of the planet is broken.” In case you need examples, 2020 has provided plenty: Wildfires in California and the Amazon; devastating hurricanes in Central America, the Caribbean and the southern U.S.; soaring temperatures in the Siberian Arctic, which people usually think of as cold; and record-setting temperatures in Death Valley, which most people thought was too hot already. Even Norway had a glacier-melting heatwave. The oceans are getting hotter, and sea ice is melting. Carbon dioxide levels have already rebounded from their early lockdown lows. Against this horrific backdrop, Guterres has outlined three climate priorities: achieve global carbon neutrality by 2050; align global finance with the Paris Agreement’s commitment of limiting global warming to 1.5?C; and focus money and human efforts on developing ways to adapt to the changing climate and increase resilience for future shifts in climate. “Let’s be clear: human activities are at the root of our descent toward chaos. But that means human action can help solve it,” Guterres said. “Making peace with nature is the defining task of the 21st century. It must be the top, top priority for everyone, everywhere.” Via CNN Image via NOAA

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UN warns that humans will lose their war against nature

The race to mainstream electric vehicles by 2030

December 2, 2020 by  
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The race to mainstream electric vehicles by 2030 Katie Fehrenbacher Wed, 12/02/2020 – 00:30 The world’s leading companies and policymakers are coalescing around setting targets for adopting zero-emission vehicles around a 2030 time frame. The latest — and one of the most aggressive to come from a country leader — was issued a few weeks ago by U.K. Prime Minister Boris Johnson, who revealed a climate plan that includes banning the sales of new gas-powered vehicles starting in 2030 (some hybrids will be allowed until 2035). The U.K. accelerated its commitment to zero-emission vehicles from 2040 to 2035, and finally to just a decade away. The U.K. isn’t the only one. Denmark set the same goal — phase out new fossil fuel vehicle sales in 2030 — and world-leader Norway plans to make the switch in 2025. A couple months ago, in response to the California wildfires, California Gov. Gavin Newsom signed an executive order that similarly called for a ban of new gas car sales, but starting in 2035.  On the corporate front, 2030 is emerging as an appropriately aggressive but achievable goal. The Climate Group’s EV100 program , which has 92 member companies that have pledged to buy EVs and install EV chargers, features the tagline: “Making electric transport the new normal by 2030.” Why is 2030 the year for EVs to become the “new normal”? Technology advances, for one. Electric vehicles will begin to cost the same as their fossil fuel counterparts between 2025 and 2029, depending on the vehicle type. The price of lithium-ion batteries, which power most mainstream EVs, has been dropping dramatically the past several years. Bloomberg New Energy Finance (BNEF) says that between 2010 and 2019, lithium-ion battery pack prices fell 87 percent. In 2019, they dropped 13 percent more.  At that rate, electric vehicles will begin to cost the same as their fossil fuel counterparts between 2025 and 2029, depending on the vehicle type; just in time for these targets. Starting in 2030, BNEF predicts that 26 million EVs will be sold annually, representing 28 percent of the world’s new cars sold.  Because of these increasingly attractive battery economics, and increased competition from companies such as Tesla and Rivian, big automakers are accelerating their EV production plans. Pandemic-induced austerity has ed to the world’s largest OEMs opting for EV investments over internal combustion ones. Last month, General Motors CEO Mary Barra announced an accelerated investment in its EV lineup, adding $7 billion from its initial plans announced earlier this year.  Increasing concern over the climate crisis is also driving accelerated goals. Climate scientists urge that the planet only has until 2030 to stem the most catastrophic effects of climate change. The historic wildfires that struck California this year were the catalyst that led to Newsom’s signing the executive order to ban new gas car sales.  Meanwhile, as many policymakers and companies are unifying around a 2030 time frame, others are still looking at a much longer timescale of 2050. While far-out climate goals are better than no climate goals, 2050 is just too far off for zero-emission vehicles. EVs already will have tipped into the mainstream far, far sooner than three decades from now.  If you’re helping your organization set big zero-emission transportation goals, look no later than 2030. Goals to electrify fleets, install EV chargers and charging depots, and end gas car sales, are totally doable — and in fact necessary — over the next decade. Pull Quote Electric vehicles will begin to cost the same as their fossil fuel counterparts between 2025 and 2029, depending on the vehicle type. Topics Transportation & Mobility Policy & Politics Electric Vehicles Featured Column Driving Change Featured in featured block (1 article with image touted on the front page or elsewhere) Off Duration 0 Sponsored Article Off Drivers charging their electric car at charging stations near government offices in New Delhi, India. Shutterstock Pradeep Gaurs Close Authorship

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Why investor Green Century has taken an active interest in fighting deforestation

December 2, 2020 by  
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Why investor Green Century has taken an active interest in fighting deforestation Julie Nash Wed, 12/02/2020 – 00:15 Jessye Waxman is a shareholder advocate at Green Century Capital Management, where she uses the environmentally responsible investment firm’s leverage as a shareholder to protect forests. Ceres talked with Waxman about Green Century’s focus on deforestation and its growing importance as a driver of climate change. It comes as deforestation  — and associated greenhouse gas emissions and climate impacts — are mounting in many regions of the world. What follows is a lightly edited interview. The discussion is part of Investors Talk Deforestation, a series of interviews with influential investors and partner organizations who supported the development of the Ceres Investor Guide to Deforestation and Climate Change . The guide aims to engage investors on deforestation emissions and other related risks across their portfolios and drive more corporate action on the issue. Julie Nash: Green Century has been engaging companies on deforestation risks for many years. When did this work begin and how has the firm’s strategy evolved over the years? Jessye Waxman: We started working on deforestation in 2012. Initially, we focused on palm oil supply chains and urged companies to adopt no-deforestation policies. Eventually, we adopted a No Deforestation, No Peatland, No Exploitation (NDPE) framework. As we took a more comprehensive perspective of deforestation-related risks, we moved beyond palm oil to work on multiple forest risk commodities. In 2015, we really started focusing on a cross-commodity approach (that year we worked with [Archer Daniels Midland] to adopt a cross-commodity deforestation commitment, which was a first for the grain traders). In addition to continuing to work with new companies to adopt policies, we do a lot of work now to ensure companies update, improve and implement the policies they already adopted. Nash: Why is deforestation an important issue on multiple fronts? Waxman: Green Century is very focused on environmental, social and governance (ESG) issues; so our investment strategy and shareholder engagement is driven by the evidence-backed conviction that companies that address ESG risks in their operations and supply chains may perform better in the long run.  Deforestation touches on a lot of the environmental and social issues investors are concerned about. Among other impacts, deforestation drives systemic risks like climate change and biodiversity loss that affect not just companies in agricultural supply chains, but companies throughout portfolios. These two risks, in particular, have long-term impacts, but can best be solved in the near term, making it important for investors to talk to companies about now.  Among other impacts, deforestation drives systemic risks like climate change and biodiversity loss that affect not just companies in agricultural supply chains, but companies throughout portfolios. For example, the Amazon is hugely important for precipitation patterns and food systems, both locally and globally. There’s research showing how deforestation losses in the Amazon can affect agricultural productivity as far away as the American Midwest.  Beyond these issues, deforestation has also been associated with problematic labor practices, ranging from withholding passports of migrant laborers to slave labor and child labor and land conflicts.  Nash: Can you talk about specific successes Green Century has helped achieve? Waxman:  In the past year, we’ve seen encouraging progress from the world’s second-largest meat processor, Tyson Foods, and food service giant Aramark.  After several years of pressure from shareholders, Tyson agreed last fall to undertake a comprehensive deforestation risk assessment focusing on its global supply chain for palm oil, soybeans, beef and timber and paper products. The results of the assessment will drive the company’s development of a Forest Protection Policy. The company still has a long way to go, but this is an important first step. We were also encouraged by Aramark’s commitment to develop and fully implement a no-deforestation policy across its global supply chain, including legal deforestation, by 2025. Nash: You briefly mentioned the greenhouse emissions associated with deforestation. A big ask to companies in recent years has been the setting of science-based targets (SBTs) for reducing greenhouse gas emissions and having those targets approved by the Science Based Targets Initiative (SBTi). Can you speak to the importance of engaging companies to set a SBT, and why this can be challenging with regards to emissions from deforestation? Waxman:  Science-based targets are a really helpful tool for companies to understand the climate-related impact of their operations and supply chains. But we also need to realize that when you’re talking to a company about how they’re addressing their environmental- and climate-related impacts, setting a science-based target, at this point, certainly doesn’t cover everything. For many companies that use forest risk commodities, an outsized portion of their emissions come from their supply chain and from the emissions released when those commodities are produced. This means that any associated emissions would fall under Scope 3. [Scope 1 emissions are from sources owned or controlled by the company. Scope 2 are emissions released in generating electricity, heating or cooling used by a company. Scope 3 are other indirect emissions from a company’s supply chain. For most companies, emissions from agricultural production, deforestation and conversion fall under Scope 3.]  A lot of companies that should be looking much more closely at their supply chains and upstream impacts may not be required to have a target to reduce those emissions. Currently, SBTi only requires approved targets to include Scope 3 emissions if those emissions are in excess of 40 percent of the company’s total emissions. Beyond that, as of now, SBTi doesn’t have a methodology for measuring emissions associated with deforestation and land-use change in its supply chains, so the vast majority of companies that have set science-based targets are failing to include a significant part of their emissions in their goal setting. In other words, a lot of companies that should be looking much more closely at their supply chains and upstream impacts may not be required to have a target to reduce those emissions, and may therefore be less motivated to address their suppliers’ exposure to deforestation and other agricultural practices. Nash: Do you think the way investors are thinking about issues like deforestation and climate change is evolving? Waxman:  There’s certainly a growing awareness among investors about deforestation as a climate risk. In the past, agriculture’s role in driving climate change has often been overlooked, with a lot of the focus being on the energy and transportation sectors. But, as the new Ceres Guide clearly illustrates, a firm can’t say that it is comprehensively addressing climate risk if it’s not also addressing agriculture and deforestation. A recent shareholder vote at Procter & Gamble (P&G) suggests that not only is awareness growing among investors, but investors might finally engage on the issue. The shareholder resolution on deforestation and forest degradation that Green Century filed with P&G received the support of 67 percent of the votes cast at its annual meeting. This is almost three times what other deforestation resolutions have averaged over the last few years, so I’m hopeful this might signal a turning point for how the financial community approaches forest-related risks.  Nash: Related to Scope 3 emissions and supply chains, are smallholder producers something you’re focusing more attention on? Waxman: Yes. The smallholder conversation is especially relevant in palm oil supply chains where considerable supplies — as much as 40 percent  — are coming from farmers who own small amounts of land. As market expectations regarding sustainability have shifted, many larger producers have started to improve some of their practices to meet these heightened expectations. Subsequently, smallholders are becoming bigger drivers, proportionately, of deforestation in the palm oil supply chain. Both from an ecological perspective and sustainable development perspective, working to incorporate smallholders into sustainable supply chains is really important. In part due to increasing pressure from investors and other stakeholders, we’ve seen more companies working directly with smallholders, including efforts to get groups of smallholders certified by the Roundtable for Sustainable Palm Oil (RSPO). Kellogg’s is one such company that is helping thousands of smallholder farmers, many of them women and many of them palm oil growers in Malaysia and Indonesia, on these kinds of issues.  Nash: Are there other ways that investors should be thinking about deforestation risks that we have missed? Waxman: It’s important for investors to recognize that deforestation, like climate change, poses risks at both the company-specific and portfolio level.  Climate change and its associated physical and transition risks may affect every industry and every company. Similarly, deforestation also creates portfolio-level risks, in part because of its large contribution to climate change, but also because of its impacts on global agriculture and biodiversity.  When we talk to companies about risks in their supply chains, the solutions need to not only address the risks to the companies but also help advance systemic change. Removing deforestation out of one company’s supply chain only to have it appear in a different company’s supply chain doesn’t help the problem. As long as deforestation is still occurring, the risks to companies, industries, investors and the environment persist. The good news is that because many people have been working on deforestation for a long time, there are best practices out there, such as those outlined in Part 5 of the Ceres Guide, that are recognized as helping to comprehensively mitigate risks from deforestation. As investors engage with companies, they should look not just at how a company is managing these risks at a high level, but whether it is implementing recognized best practices that help advance systemic changes in their industry. Pull Quote Among other impacts, deforestation drives systemic risks like climate change and biodiversity loss that affect not just companies in agricultural supply chains, but companies throughout portfolios. A lot of companies that should be looking much more closely at their supply chains and upstream impacts may not be required to have a target to reduce those emissions. Topics Corporate Strategy Finance & Investing Deforestation Ceres Featured in featured block (1 article with image touted on the front page or elsewhere) Off Duration 0 Sponsored Article Off A palm oil plantation in Southeast Asia. Shutterstock Rich Carey Close Authorship

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