We’re happy to announce our new newsletter, The Bottom Line. This monthly newsletter will feature our latest reports, blogs, news and events as well as some interesting sustainability facts and tips.
January 2020 Newsletter
Dear John,
The climate crisis is no longer coming. It is here now.
One only has to look at recent headlines for proof: "Earth’s Hottest Decade on Record," "Climate Change has Australian Wildfires ‘running out of control’," "Fifth Straight Year of Central American Drought Helping Drive Migration." And the world isn’t doing enough fast enough to combat this growing threat, as was evidenced by the stalemate at the recent international climate talks in Madrid.
But there is hope! Just last month, the largest-ever group of investors called on governments around the globe to phase out thermal coal power, put a price on carbon, and end subsidies for fossil fuels. In addition, the largest asset manager in the world, BlackRock, has joined ClimateAction100+, to pressure the largest emitters to reduce climate pollution. In 2019, 177 global companies committed to achieving 1.5°C-aligned science-based targets and there are now more than 200 companies that have committed to 100% renewable energy by 2050 at the latest.
In 2020, we’re renewing our commitment to climate action, working with the largest and most powerful investors and companies to reduce their own climate impacts and advocate for state, national and global policies that will help mitigate the climate crisis.
As we welcome the new decade, the devastating impacts of our warming world are more present than ever and the need to reduce greenhouse emissions has never been more urgent. We saw further evidence of rising emissions in the latest United Nations’ annual Emissions Gap Report. While the media seized on the word “bleak” in the coverage of their report, they missed the signs of progress that we have seen this year among the U.S. business community.
Ceres 2020 in New York March 23-26, 2020
Join us for what will be one of the most transformative, inspiring and largest gatherings aimed at building a sustainable economy! Register today.
BlackRock has become the latest signatory to Climate Action 100+, an unprecedented global investor engagement initiative, to ensure the world’s largest corporate greenhouse gas emitters take necessary action on climate change. With the addition of the world’s largest asset manager, with more than $6.8 trillion USD in assets under management, Climate Action 100+ continues to grow in size and influence. BlackRock joins more than 370 global investors already participating in the initiative. The addition of funds it manages, brings total assets under management represented by investors participating in Climate Action 100+ to more than $41 trillion.
One of the key issues driving global climate change is the rampant destruction of the world’s rainforests. These precious resources are being destroyed to grow more crops (like soy and palm) and raise herds of cattle. Converting forests to crops and pastures not only impacts biodiversity, it also increases GHG emissions fueling climate change globally.
While nearly 500 global companies have made commitments to not source commodities from deforestation areas, only a handful disclose their quantitative progress toward achieving them and eliminating tropical forest loss from their commodity supply chains. Many hundreds more are still exposed to deforestation risk, and have yet to set public commitments or take specific actions to address it, let alone report on their progress.
Our report, Out on a Limb, undertaken in partnership with Forest Trends’ Supply Change, assesses the state of public corporate commitments around deforestation and lays out the case for elevating two key reporting metrics from companies as we head into 2020 reporting deadlines.
As vice president of climate and energy at Ceres, Sue works with her team to improve the sustainability of some of the most polluting sectors in the economy, including electric power, transportation, and oil and gas companies. Sue has more than two decades of experience as an attorney and specialist in climate and energy policies, practices and investments. She recently represented Ceres at the international climate talks in Madrid (known as COP25) where she worked to elevate the business case for global climate action.
Ceres is a sustainability nonprofit organization working with the most influential investors and companies to build leadership and drive solutions throughout the economy.