Tag: Net Zero

Scottish Widows targets net zero across £170bn fund range by 2050

Stuart Mitchell

Scottish Widows becomes the first major pensions and insurance provider to target halving the carbon footprint of all its £170bn investments by 2030 in its path to net zero by 2050. The company – which has more than six million customers in the UK – will also be investing billions of pounds in climate solutions, such as renewable energy, low carbon buildings, and energy efficient technologies, by 2025 to underline its commitment to positive change. The ambitious move almost doubles the meaningful commitments the pension industry has pledged to reaching…

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Southern California Gas Company Sets Bold Net Zero Emissions Pledge

Stuart Mitchell

Southern California Gas Co. (SoCalGas), the largest gas utility in the U.S., has announced the company’s bold commitment to achieve net zero greenhouse gas (GHG) emissions in its operations and delivery of energy by 2045. This commitment makes SoCalGas the largest gas distribution utility in North America to set a net zero target including scopes 1, 2, and 3 GHG emissions, which would eliminate not only its own direct emissions, but also those generated by customers’ energy delivered by SoCalGas’ energy infrastructure.[1] SoCalGas’ commitment aligns with the Paris Climate Agreement’s…

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Leading investors representing $11 trillion call on banks to set enhanced net zero targets

Stuart Mitchell

A group of leading global investors has developed investor expectations for the banking sector through the Institutional Investors Group on Climate Change (IIGCC), calling on banking firms to set enhanced net zero targets for 2050 or sooner with interim targets to be included, scale up green finance and withdraw from projects that fail to meet Paris Agreement goals. The IPCC estimates that up to $3.8 trillion a year in investment is needed annually to achieve the low-carbon transition for supply-side energy system investments alone. The banking sector has a critical…

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Swiss Re announces ambitious climate targets; accelerates race to net zero

Stuart Mitchell

Swiss Re has announced new measures to support the transition to a net-zero economy, encompassing both asset management and underwriting as well as its own operations. Swiss Re’s Group Chief Executive Officer Christian Mumenthaler said: “Climate change remains the biggest challenge we face as a society. The stakes are high and require immediate attention. Signing up to net-zero emissions by 2050 and setting concrete climate targets are important first steps. What needs to follow now is action. We are moving ahead in all areas of our business to accelerate the…

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Atos boosts its decarbonization ambition committing to Net Zero by 2028

Stuart Mitchell

Atos has announced that it is raising its decarbonization ambition to reach “net zero” by 2028. With this ambition, Atos is committing to reducing the global carbon emissions under its control and influence by 50% by 2025 (scopes 1, 2, 3), and to offset all its residual emissions by 2028. Atos’ new trajectory is 22 years ahead of the 2050 target set by the Paris Agreement to limit global warming to 2°C by 2050 above pre-industrial levels, and 7 years ahead of the target previously set by the Group. With…

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