SpeedRead Sustainability #15: Weekly Highlights

Explore recent sustainability updates, trends, business spotlights, and insights in this edition, showcasing advancements and innovative solutions for people and the planet.

Top Story:

Global Temperatures Exceed 1.5°C Threshold for Twelve Months

Global temperatures have surpassed the 1.5°C warming threshold above pre-industrial levels for an entire year, signaling a critical shift in climate patterns. This prolonged increase in temperature, monitored by the European Commission's Copernicus Climate Change Service, emphasizes the urgency for enhanced climate action efforts.

Business Spotlight:

The Olympic Games: A Global Platform for Sustainability

Amidst escalating global temperatures, the Olympic Games are taking proactive measures to promote sustainability and mitigate climate impacts. With adaptations such as scheduling events during cooler periods and utilizing eco-friendly materials, the Olympics aim to lead by example in reducing carbon emissions and encouraging sustainable practices. The 2024 Paris Games, leveraging 100% renewable energy and extensive recycling initiatives, illustrate the potential of major sporting events to influence global sustainability efforts effectively.

Stripe Spearheads $1 Billion Carbon Removal Initiative

Stripe , initially committing $1 million to carbon removal in 2020, now leads Frontier, a $1 billion initiative promoting carbon removal technologies. Despite high current costs, Frontier aims for scalable, cost-effective solutions, emphasizing long-term environmental impact over immediate financial savings.

Google and DHL Partner for Sustainable Global Shipping

Google and DHL have launched a long-term initiative to enhance sustainable shipping worldwide using the DHL Express GoGreen Plus service and Sustainable Aviation Fuel (SAF). This collaboration, part of Google's strategy to achieve net-zero emissions by 2030, aims to reduce emissions in air cargo transportation.

Masdar Secures USD 1 Billion for Renewable Energy Projects Through Green Bond

Masdar has raised USD 1 billion via its second green bond issuance to fund new renewable energy projects globally. The bond, which was 4.6 times oversubscribed, reflects strong investor confidence and is part of Masdar's strategy to expand its renewable capacity to 100GW by 2030.

Billie Jean King Celebrates Gender Equity Milestone at Paris Olympics

Tennis icon Billie Jean King praised the Paris Olympics for achieving a historic milestone in gender equity, marking the first Games with an equal quota of male and female athletes. Highlighting recent strides in women's sports, including rising WNBA ratings and the success of the Professional Women’s Hockey League, King noted the significance of this progress in the broader context of women's sports advocacy.

Paris Olympics Set New Standards in Event Sustainability

The Paris Olympics are pioneering sustainability in sports by halving the carbon emissions of past Games, utilizing existing structures, and avoiding new construction. Organizers have implemented several key measures, including banning diesel generators and single-use plastics, and enhancing public transport options. Additionally, the Games have adopted circular economy principles, like reusing materials and reducing waste, all underpinned by stringent sustainability standards like ISO.

Airbus and Partners Launch $200 Million SAF Investment Fund

Airbus, alongside Air France-KLM, Associated Energy Group, BNP Paribas, Burnham Sterling, Mitsubishi HC Capital, and Qantas Airways, have collectively invested in the Sustainable Aviation Fuel Financing Alliance (SAFFA). This $200 million fund aims to boost the production of sustainable aviation fuel (SAF) by investing in technologically mature projects.

Starbucks Advances Solar Energy Project in Illinois

Starbucks partners with Nexamp to introduce solar energy to its Illinois stores, enhancing its sustainability commitments. Already achieving 100% renewable energy in its US stores by 2015, the company now aims to power 77% of its global locations sustainably. The Illinois solar initiative, operational by 2025, will supply clean energy to 170 stores and benefit over 1,100 residents, reinforcing Starbucks’ goal to significantly reduce its environmental footprint.

AEG Promotes Sustainability with Plastic Free July Employee Initiatives

In celebration of Plastic Free July, AEG's People for the Planet @ AEG group launched a series of educational activities aimed at reducing plastic use among employees. Highlights included a Plastic Free July Bingo challenge, a "Sustainability 101" workshop on reducing carbon footprints, and a panel discussion on eco-friendly practices in music festivals.

Economic Impact of the Paris Olympics

The Paris Olympics are projected to stimulate the French economy, potentially boosting third-quarter growth to 0.5%. This increase, driven by ticket sales and tourism, mirrors the economic uplift seen during the London 2012 Olympics. Despite some travel firms reporting lower bookings due to high accommodation costs, the overall forecast remains positive with a $12.2 billion anticipated benefit to the Île-de-France region.

Trends & Insights:

Leadership and Disability Inclusion in Business

Caroline Casey, founder of Valuable 500 , underscores the importance of leadership commitment for advancing disability inclusion in businesses. Leaders must invest significant effort and resources to foster a workplace that integrates disability inclusion strategically, enhancing overall company performance.

Survey Reveals Strong U.S. Support for Sustainable Technologies

A recent Michigan Economic Development Corporation survey highlights robust public support for advancing sustainable technologies despite a challenging economic climate. With 71% of U.S. adults recognizing the long-term benefits of investments in clean energy and electric vehicle infrastructure, the survey underscores a significant demand for business incentives and training programs to foster job growth in these sectors.

Global Concerns Shift: Inflation Still Leads but Wanes, Mixed Economic Sentiments Prevail

The latest "What Worries the World" survey reveals inflation as the top global concern for the 28th consecutive month, though worries have dipped to their lowest since April 2022 at 33%. In the U.S., concerns about inflation rise, contrasting with a growing positive perception of the economic situation.

UN Chief Calls for Rapid Fossil Fuel Phase-Out in Wealthy Nations

UN Secretary General António Guterres has strongly urged wealthy countries to end their reliance on fossil fuels, highlighting recent expansions in oil and gas production as direct threats to global climate goals.

Carbon Capture Utilization's Potential in Decarbonization

Carbon Capture and Utilization (CCU) holds promise for contributing to a circular economy but remains overshadowed by Carbon Capture and Storage (CCS) in investments and development. A report by BCG and the Oil and Gas Climate Initiative suggests that while CCU could contribute significantly by 2050, the scale required for net zero is beyond its current potential.

Forest Products and Life Sciences Top in Sustainability

The 2024 Sustainability Leaders Survey indicates that the forest products and life sciences sectors are viewed most positively for their sustainability efforts. Although sectors like banking and automotive have shown improvement, overall, only a third of sustainability experts rate any sector's performance as excellent.

Supply Chain Emissions Far Exceed Direct Emissions, Report Finds

A recent study by CDP and Boston Consulting Group reveals that upstream Scope 3 emissions in the supply chains of the manufacturing, retail, and materials sectors are 26 times higher than the combined direct emissions of Scope 1 and 2. These supply chain emissions even surpass the total CO2 emissions of the European Union in 2022 by 1.4 times, underscoring the significant environmental impact of indirect emissions in global industries.

Campaigns and Initiatives Roundup:

Madrid and Penguin Random House Launch Book-Shaped Benches to Encourage Reading

Madrid, in collaboration with Penguin Random House , has introduced book-shaped benches across the city to promote reading. Dubbed 'bancolibros,' these 26 benches showcase various titles from the publisher, complete with QR codes for additional book and author information. This initiative, part of the "Siéntate a leer" campaign, not only aims to foster a love for reading but also supports local bookstores and libraries by placing these benches nearby.

Madrid Tests Eco-Friendly Cooling Bus Shelters to Beat the Heat

Madrid is piloting innovative 'Natural Cooling' bus shelters designed by JCDecaux to combat urban heat. These shelters, which utilize evaporative cooling rather than traditional air conditioning, can reduce ambient temperatures by up to 9°C (16°F). Powered by solar energy and utilizing rainwater, the shelters activate only when needed and ensure health safety by not producing mist.

Samsung Launches 'Openness Medal' at Paris Games

Samsung Electronics introduces the "Openness Medal" during the Paris Olympic and Paralympic Games, aimed at celebrating resilience and openness among athletes. Created with Bartle Bogle Hegarty London, the campaign focuses on Gen Z's interest in athletes' personal stories over their competitive results.