The Supreme Court of New Zealand recently overturned strike-out decisions to allow climate change claims (involving a new climate tort) to proceed to trial. Background In 2022, Michael Smith, a Māori tribal elder and the climate change spokesman for the Iwi Chairs Forum, a national forum of tribal leaders, brought proceedings against seven corporate defendants, alleging that they were collectively…
Green Hydrogen Startup Hysata Raises $111 Million
Green hydrogen startup Hysata announced today that it has raised $111 million in a Series B funding round, with proceeds from the financing aimed at advancing its electrolyzer technology and expanding production. Hydrogen is viewed as one of the key building blocks of the transition to a cleaner energy future, particularly for sectors with difficult to abate emissions, in which…
PepsiCo to Achieve its First Net Zero Plant by 2025
Food and beverage giant PepsiCo announced today that its beverage plant in Northern Spain aims to become the company’s first plant globally to reach net-zero emissions by 2025. According to PepsiCo, the new achievement follows investments of €27 million (USD$29 million) dedicated to innovation and sustainability projects in the plant over the past five years, in addition to a €5…
Standard Chartered Commits to Reduce Financed Methane Emissions from Oil and Gas Sector
International banking group Standard Chartered announced today a new commitment to set a science-based target by 2025 to reduce financed methane emissions from the oil and gas sector. Rapid reduction in methane emissions is seen as one of the most effective near-term actions that can be taken to help achieve the global climate goal to limit warming to 1.5°C. Methane…
ERM Launches Carbon Credit Consulting Business
Sustainability advisory firm ERM announced today the launch of ERM Climate Markets, a new business aimed at helping companies investing in carbon credits to address their unabated greenhouse gas emissions and achieve decarbonization goals. The new business line comes as demand for carbon offset projects and related credits is expected to increase significantly over the next several years, as companies…
More than a Third of S&P 500 Companies Now Have Compensation Tied to Climate Goals: S&P Global
More than a third of companies in the S&P 500 have monetary incentives in place linked to company emissions reduction, although a lower proportion have climate-related compensation incentives for senior executives, and even fewer at the top executive ranks, according to a new study released by S&P Global. The study, which included data from the S&P Global Sustainable1 Net-Zero Commitments…
Mars Launches Initiative to Tackle Carbon Footprint of Dairy Supply Chain
Snacking, food, and pet care products provider Mars announced today the launch of “Moo’ving Dairy Forward,” a new initiative aimed at reducing the carbon footprint of its dairy sourcing, backed by $47 million of investment over three years. The new initiative follows the launch by Mars last year of a series of new climate-related goals, including a target to cut…
Amazon Launches Electric Heavy Duty Truck Fleet in California
Amazon announced that it has rolled out a new fleet of heavy duty all electric trucks in Southern California, forming part of the company’s efforts to decarbonize its delivery operations and achieve its net zero climate goals. Amazon has announced a series of initiatives aimed at decarbonizing transportation across its business, targeting areas including increasing fleet efficiency, expanding the use…