Unilever unveils climate and nature fund worth more than $1 billion

June 16, 2020 by  
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Unilever unveils climate and nature fund worth more than $1 billion Cecilia Keating Tue, 06/16/2020 – 00:30 Unilever has announced it will invest €1 billion (about $1.12 billion based on exchange rates this week) over the next decade in efforts to tackle climate change and deliver on a new goal to ensure net zero emissions across its value chain by 2039. The consumer goods giant unveiled its new Climate and Nature Fund on Monday as it set out a raft of fresh sustainability goals, which include plans to end deforestation in its supply chain and communicate the carbon footprint of every product it sells. The new 2039 target builds on existing sustainability goals to reach carbon neutrality across its operations and halve its value chain emissions by the end of the decade. Unilever CEO Alan Jope emphasized the company intended to eschew a sustainability strategy that focused on emissions alone and instead take a holistic approach. “Climate change, nature degradation, biodiversity decline, water scarcity — all these issues are interconnected, and we must address them all simultaneously,” he said. “In doing so, we must also recognize that the climate crisis is not only an environmental emergency; it also has a terrible impact on lives and livelihoods. We, therefore, have a responsibility to help tackle the crisis: as a business, and through direct action by our brands.” To reach its new value chain emissions goal, Unilever said it would prioritize partnerships with suppliers committed to science-based climate targets and work with partners across the value chain to drive lower levels of greenhouse gas emissions. Under the plan, the Anglo-Dutch company said it intends to set up a new system where suppliers are required to declare the carbon footprint of the goods and services while invoicing. It also outlined its intention to work with other businesses and organizations to standardize emissions data collection, sharing, and communication. The new fund will support a raft of initiatives, including landscape restoration, reforestation, carbon sequestration, wildlife protection and water preservation projects, the company said. While it’s critical to address the impact that our products have at the end of their life, it’s just as important to continue to look at the impact they have on the planet at the start of their life … The firm also confirmed that it is aiming to achieve a deforestation-free supply chain by 2023. As such it pledged to increase traceability and transparency by using emerging digital technologies — such as satellite monitoring, geolocation tracking and blockchain systems — to enhance oversight, accelerate smallholder engagement and improve its approach to derivates sourcing. Marc Engel, chief supply chain officer at the company, said that empowering farmers would deliver a “step change” in regenerating nature. “If we want to have a healthy planet long into the future, we must also look after nature: forests, soil biodiversity and water ecosystems,” he said. “In most parts of the world, the economic and social inclusion of farmers and smallholders in sustainable agricultural production is the single most important driver of change for halting deforestation, restoring forests and helping regenerate nature. In the end, they are the stewards of the land.” Unilever also has committed to step up its efforts to preserve water, with plans to make all its “product formulations” biodegradable in order to minimize their impact on aquatic ecosystems. It also said it would implement water stewardship programs for local communities in 100 locations by the end of the decade. Jope concluded that the suite of new initiatives would complement the company’s ongoing mission to curb its reliance on virgin plastic. “While it’s critical to address the impact that our products have at the end of their life, it’s just as important to continue to look at the impact they have on the planet at the start of their life — in the sourcing of materials — as well as in their manufacture and transport,” he said. “We will reduce the impact that our products and our operations have on the environment, and we will do our part to bring the planet back to health.” Last year, the company pledged to halve its use of virgin plastic and ensure it collects and recycles more plastic packaging than it sells. The announcement came the same day as the publication of an open letter to governments from leading green businesses and NGOs, calling on policymakers to prioritize nature restoration projects as part of their imminent coronavirus economic stimulus packages. Pull Quote While it’s critical to address the impact that our products have at the end of their life, it’s just as important to continue to look at the impact they have on the planet at the start of their life … Topics Corporate Strategy Supply Chain Natural Climate Solutions Carbon Removal BusinessGreen Featured in featured block (1 article with image touted on the front page or elsewhere) Off Duration 0 Sponsored Article Off Early evening view of Unilever office The Bridge in Feijenoord neighbourhood in Rotterdam

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Unilever unveils climate and nature fund worth more than $1 billion

The unmasking of Corporate America

June 15, 2020 by  
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The unmasking of Corporate America Joel Makower Mon, 06/15/2020 – 02:11 The past two weeks have seen an outpouring of concern and commitment by companies about racism in the United States. Pronouncements on company social media accounts often take the form of graphics — white type against a black background seems to be de rigueur in the current environment. It’s all a welcome sign but also treacherous territory. For one simple reason: Words, no matter how compelling, compassionate or committed, aren’t enough to undo the injustices and structural challenges employees and others face when it comes to race and equity. Companies are being asked to show, not just tell. And hypocrisy, or lack of action, is being called out. Consider the backlash already on social media. As companies post their support for Black Lives Matter and racial justice in general, activists are asking these companies to also post a picture of their leadership team and/or board of directors. Words, no matter how compelling, compassionate or committed, aren’t enough to undo the injustices and structural challenges employees face when it comes to race and equity. You can probably guess why: Corporate board and leadership teams are all too often overwhelmingly white and male. And while gender diversity has improved significantly over the past few years —  according to Institutional Shareholder Services , 45 percent of new board positions among the Russell 3000, representing 3,000 of the largest U.S.-traded stocks, were filled by women in 2019, up from just 12 percent in 2008 — racial diversity has not.  According to the 2019 Registry of Corporate Directors published by Black Enterprise magazine, there were just over 300 African-American board members among S&P 500 companies, out of nearly 4,500 board seats overall. That’s progress, but barely. (Full disclosure: GreenBiz Group’s six-person leadership team, four men and two women, is all-white.) Board seats and leadership positions are only one aspect of corporate performance on diversity and inclusion, but it’s a critical one, as modeling behavior starts at the top. Companies are responding in a range of meaningful ways: devoting tens of millions of dollars to racial justice initiatives (Apple, Google, NBCUniversal), establishing an internal committee to advance racial equity and justice solutions (Walmart), committing that black candidates are on the succession list for all senior-level positions (Estée Lauder), as well as pledging to direct more investment capital to minority entrepreneurs, publicly advocating for action at the state and local levels, and developing anti-racist workplace initiatives, among other things. But there are also corporate statements that risk being seen as window dressing. Take the Business Roundtable, a group of companies whose 2019 Statement on the Purpose of a Corporation has received copious press coverage. Earlier this month, the group tapped seven of its board members to form a committee on “racial equality and justice solutions.” As Politico reported : Critics pointed out that there are no specific benchmarks or funding. The committee is led by two black and five white executives from Eaton, Vista Equity Partners, AT&T, Marriott International, General Motors, JPMorgan Chase and Johnson & Johnson. Most of these companies have no more than two people of color on their boards. … A spokeswoman for the Business Roundtable said the group is “committed to taking thoughtful action on issues of racial injustice,” which includes “CEOs listening to their employees, customers and members of the communities they operate in, with the goal of strengthening unity and justice.” The spokeswoman also noted that 19 of the group’s more than 180 CEOs are people of color, while another 19 are women (just one of whom is nonwhite). Which begs the question, not just for the Business Roundtable but for all companies: What actually will change as a result of these statements and commitments? How will progress be measured and tracked? Who will be holding companies accountable? Probably not Wall Street. “Your standard research analyst is not going to ask, ‘Please articulate your efforts to become an anti-racist, multicultural organization,’” Erika Karp, founder and CEO of Cornerstone Capital and a Wall Street veteran, told me last week. “You’re not going to hear that on an analyst call.” She added: “But I think you should.” I asked Karp, whose firm published a 2018 research report, “Investing to Advance Racial Equity,” how she’d like to see companies judged, and whether company actions could be boiled down to the kind of environmental, social and governance metrics analysts are coming to expect from publicly traded companies. Instead, Karp pointed me to an undated, but presumably recent, matrix pulled from the psychoanalytic world: “Continuum on Becoming an Anti-Racist, Multicultural Institution.” It plots companies across six stages, from Exclusive (“a segregated institution”) to Fully Inclusive (“a transformed institution in a transformed society”). The continuum tracks companies from monocultural to multicultural to anti-racist to anti-racist multicultural. Most companies, from my perspective, can be found in the early stages of the continuum, such as Passive (“tolerant of a limited number of people of color with ‘proper’ perspective and credentials”) and Symbolic Change (“makes official policy pronouncements regarding multicultural diversity”). The tougher stuff is yet to come. Said Karp: “This came from the psychoanalytic world, but it might as well be from McKinsey.” In many ways, we’ve seen this movie before. The anti-racist continuum could be applied, with only modest modification, to corporate sustainability or social responsibility, from reactive and recalcitrant polluters at one end, to proactive and regenerative beacons at the other. And, as with sustainability, how a company is perceived on racial justice and equity is a delicate dance between showing and telling — that is, meaningful actions paired with stories, with great care given to not let the latter get too far ahead of the former. When the two are unaligned is when companies find themselves called out on social media and beyond. For most companies, having an open dialogue is a critical first step, but if things don’t progress from there, it will be more than a lost opportunity — it increasingly will become a risk factor. That’s a lesson of this moment: Be careful out there. Show, don’t just tell. I invite you to follow me on Twitter , subscribe to my Monday morning newsletter, GreenBuzz , and listen to GreenBiz 350 , my weekly podcast, co-hosted with Heather Clancy. Pull Quote Words, no matter how compelling, compassionate or committed, aren’t enough to undo the injustices and structural challenges employees face when it comes to race and equity. Topics Leadership Marketing & Communication Diversity Featured Column Two Steps Forward Featured in featured block (1 article with image touted on the front page or elsewhere) Off Duration 0 Sponsored Article Off GreenBiz Group

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The unmasking of Corporate America

Start Thinking About Your Spring Garden Now

September 5, 2019 by  
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The common practice of cleaning gardens in fall and planting … The post Start Thinking About Your Spring Garden Now appeared first on Earth911.com.

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Start Thinking About Your Spring Garden Now

How to raise $10 million as a sustainable business

September 4, 2019 by  
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Persistence, personalization and really good follow-up enabled a former Peace Corps volunteer to play in the start-up big leagues.

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How to raise $10 million as a sustainable business

Eating In: 5 Ways to Start Your Indoor Gardening This Winter

December 21, 2018 by  
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Just because there is snow on the ground doesn’t mean … The post Eating In: 5 Ways to Start Your Indoor Gardening This Winter appeared first on Earth911.com.

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Eating In: 5 Ways to Start Your Indoor Gardening This Winter

World Food Day: Time To Start Food Distribution Improvements

October 5, 2018 by  
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Today, 821 million globally people suffer from perpetual hunger. On … The post World Food Day: Time To Start Food Distribution Improvements appeared first on Earth911.com.

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World Food Day: Time To Start Food Distribution Improvements

The Sherlock Holmes Method for Raising Your Recycling Savvy

October 5, 2018 by  
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I try to work recycling into my daily routine, but … The post The Sherlock Holmes Method for Raising Your Recycling Savvy appeared first on Earth911.com.

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The Sherlock Holmes Method for Raising Your Recycling Savvy

Wanted: Entrepreneurs to tackle urban drinking water challenges

May 23, 2018 by  
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We need new sources of water, localized treatment and real-time testing. That’s just the start.

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Wanted: Entrepreneurs to tackle urban drinking water challenges

Major investors move against Shell and gas sector

May 23, 2018 by  
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Coalition managing $10.4tr in assets urge oil and gas groups to take responsibility for emissions as it diversifies from fossil fuels.

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Major investors move against Shell and gas sector

How to Start an Office Recycling Program

January 25, 2018 by  
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Launching an office recycling program may seem like a monumental … The post How to Start an Office Recycling Program appeared first on Earth911.com.

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