This past week was filled with interesting sustainability and climate news, we've summarised the top stories below.
Environmental data disclosure requested from over 10,000 companies
- A group of financial institutions and investors, managing trillions of pounds in assets, is asking over 10,000 companies to disclose their environmental impact data, via the CDP’s TCFD-aligned disclosure platform.
- The number of institutions requesting data is increasing as the demand for transparency from companies grows.
- “We need this comparable, consistent and clear data for our investment decision making, our research, our product development, our corporate engagement and our regulatory compliance”.
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Climate change worsens hay fever and extends pollen season
- A recent study has demonstrated how rising global temperatures will impact pollen counts and the length of the pollen season.
- By 2100, the pollen season may begin 40 days earlier in some parts of the world.
- Plants that usually pollinate later in the year will be pushed to pollinate up to 19 days later than they do now, further extending the pollen season.
- Increases in atmospheric carbon dioxide will also have a massive impact on pollen. The predicted CO2 rise may increase pollen emissions by up to 250% by the end of the century.
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Investors want more sustainability skills from their fund managers
A recent survey found that investors overwhelmingly want more sustainability knowledge and guidance from their fund managers:
- 83% expect or want to see their fund manager upskill in their understanding of sustainability and environmental issues.
- 85% expect or want their fund manager to help them avoid greenwashing claims from financial providers.
- 90% want their fund manager to thoroughly research each company in a fund to ensure their investments align with their ESG values.
- 81% expect or want their fund manager to divest their investments from funds or companies that cause environmental or social harm.
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Australia reverses ruling protecting children from climate change harm
- In 2021, an Australian court ruled that the country’s Environmental Minister had a duty of care to avoid harming children when weighing approval for a coal project, a ruling to which the Minster appealed.
- This week, the Federal Court decided unanimously in favour of the Environmental Minister’s appeal, stating that "the duty should not be imposed upon the Minister".
- Anti-coal activists have expressed their disappointment in the judgement, stating that is shows that Australia’s environmental laws remain too weak.
- Australia is ranked last for climate change action taken by developed countries since the 2015 Paris Agreement, and remains the world’s second-largest exporter of coal used for power generation.
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