Tag: climate targets

Electric Utilities and Automotive industries increasingly off track against climate targets, according to first sector studies released since COP26

Stuart Mitchell

Almost all companies across the electric utilities and automotive sectors are set to exceed their 1.5°C warming scenario budgets, new findings from the World Benchmarking Alliance, CDP and ADEME show today. With COP26 now concluded and pressure mounting on businesses, these critical industries are shown to be lagging far behind where they should be on reducing emissions and their reliance on fossil fuels. The largest study of its kind, the research ranks the most influential 50 electric utilities and 30 automotive companies on their commitments and progress on achieving a…

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UPM signs a EUR 750 million revolving credit facility tied to long-term biodiversity and climate targets

Stuart Mitchell

UPM is one of the first companies to link the pricing mechanism of a syndicated revolving credit facility (RCF) to both biodiversity and climate targets. The margin of the RCF is tied to two key performance indicators (KPIs): achievement of a net positive impact on biodiversity in the company’s own forests in Finland a 65% reduction of CO2 emissions from fuels and purchased electricity by 2030 from 2015 levels, in line with UPM’s commitment to UN Business Ambition for 1.5°C “Connecting UPM’s sustainability performance to our financing demonstrates the importance…

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En+ Group Commits to Climate Targets in Line with a New Level of Climate Ambition Led by the United Nations

Stuart Mitchell

En+ Group has joined the Business Ambition for 1.5°C movement and committed to science-based emissions reduction targets (or “SBTi”) to drive the world to a net-zero future. The Company has responded to a call-to-action to limit global temperature increase to 1.5°C and avert the worst impacts of climate change.  Lord Barker of Battle, Executive Chairman of En+ Group, commented: “We are proud to have placed the low carbon economy and a firm commitment to sustainable business at the heart of En+ Group. Our ambition is to lead the transformation of…

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thyssenkrupp climate targets approved – science-based and in line with global climate agreement

Stuart Mitchell

The Science Based Targets initiative (SBTi) has approved thyssenkrupp’s climate targets. At the same time the organization has confirmed that thyssenkrupp is acting in line with the goals of the 2015 Paris climate conference, where the international community agreed to limit future global warming to well below two degrees. The SBTi is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). Its aim is to establish science-based climate targets as standard business practice, by defining and promoting best…

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