The European Commission announced the release of its strategy to significantly increase industrial carbon capture, storage and utilization capacity across the EU over the next several years, forming a key part of its plan to achieve its climate goals, including reaching net zero emissions by 2050. The new strategy was launched alongside the Commission’s recommendation on Tuesday to set a…
The European Commission’s proposal for almost full decarbonisation by 2040 “is revolutionary and reinforces the EU position as a global leader on climate change”, according to a leading policy director at the International Emissions Trading Association (IETA). Based on initial impact assessments and the advice of the European Scientific Advisory Board on Climate Change, the Commission is recommending an EU-wide…
Current agricultural practices require profound transformation. This is creating unprecedented opportunities across the global food value chain. From daily bread to daily headline, food is a hot topic. Pasta shortages panicked shoppers during the pandemic, while surging inflation has fuelled steep increases in the cost of the weekly shop. But what’s going on behind the scenes where consumers don’t usually…
Measures put in place to restore confidence in carbon credit markets could help push prices to $238 per ton, building a market value of over $1.1trn by 2050, according to BloombergNEF’s (BNEF) Long-Term Carbon Offsets Outlook 2024 report. Ongoing scrutiny and reputational issues led to 2023 being a challenging year for the voluntary carbon market, and 2024 looks set to…
ESG ratings providers will need to seek approval to ensure they comply with transparency requirements under rules that were provisionally agreed by the European Council and European Parliament this week. Lawmakers announced on 5 February they had agreed the regulation of ESG ratings activities to boost confidence in sustainable products: ESG rating providers will need to pay to be authorised and…
The European Commission today unveiled its anticipated recommendation to set a target to reduce net greenhouse gas emissions by 90% by 2040, compared to 1990 levels, kicking off the process of establishing the next interim climate target into law, on the path to the EU’s ambition to reach climate neutrality by 2050. Alongside its new announced recommendation, the Commission outlined…
By: Charisse Dean, Managing Director, KPMG US ESG Social Strategy Leader; Jessica Libby, KPMG Human Rights Co-Leader, Principal, Tax – Trade & Customs; Laura Clawson, KPMG Human Rights Director Traditionally, business has viewed supply chains through the lens of expediency and efficiency. Today, however, focusing solely on these factors is no longer sufficient. With increasing awareness of human rights violations…
Italian luxury sports car manufacturer Automobili Lamborghini announced a new climate commitment, targeting a 40% reduction in CO2 emissions on a “per car” basis across its entire value chain by 2030. The new commitment follows the launch in 2021 by Lamborghini of its environmental sustainability strategy, “Direzione Cor Tauri,” which focused on its roadmap to the electrification of its product…