Private equity investment firm KKR has announced plans to acquire a stake in a budding renewable energy platform in India. The firm will reportedly invest $400 million in Serentica Renewable. The renewable energy company is promoted by the Vedanta Group. The company plans to set up 5 gigawatts of renewable … [continued]
Change happens gradually and then all at once. For years, a quiet revolution has been brewing in ESG corporate disclosure advocacy. With voluntary standards like CDP and metrics guidelines like SASB, leading corporates have opted in to environmental performance transparency. With 42% of companies above a $10bn market cap already disclosing some climate-relevant information, this shift has been happening slowly — and, now, seemingly all at once.
A new report from CDP has revealed that a group of the world’s largest companies — together representing nearly $17 trillion in market capitalization — have valued climate risks to their businesses at almost $1 trillion, risks which are likely to hit many companies within the next 5 years.
A total of 43 cities — including Barcelona, London, Paris, Cape Town, and Hong Kong — populate a new “A List” ranking cities’ action to cut emissions and set climate strategies published this week by environmental impact non-profit CDP to celebrate the start of EU Green Week.
The latest disclosure data provided to CDP has revealed that some of the largest US-based corporations view climate change as an increasing risk to their bottom line as well as their reputation among consumers and investors, highlighting the growing business readiness for the low-carbon transition.
“We need to move away from a culture of short term wins to focus on the gains of a long-term business strategy on climate risk,” says Paul Simon, CEO of CDP.
Two new reports published within days of one another have outlined the difficulties inherent in continuing anything close to “business-as-usual” for oil and gas companies around the world, and the increasing pressure to begin transitioning to low-carbon operations.
The top 24 fossil fuel companies spent less than 2% of their 2018 budgets on renewable energy investments. They want us to think they are concerned for the Earth, but nothing could be further from the truth.
Since the beginning of the year, more than 130 new companies have joined the Science Based Targets initiative, pushing the total number of companies close to 500 and representative of approximately one-eighth of total global market capitalization.
Japanese IT giant Fujitsu announced last week that it has committed to sourcing 100% of its needed electricity from renewable energy sources by 2050, coupled with its decision to join the RE100 initiative.
