Urgent Climate Action Called for by 500+ Scientists: Your Essential ESG News Recap

More than 500 scientists signed the Dartington Declaration, urging world leaders to cut global greenhouse gas emissions by 50% by 2030 and reach net zero by 2050. This call to action stems from alarming research showing that coral reefs have surpassed critical thresholds. The scientists emphasize shifting away from fossil fuels and promoting nature-based solutions to keep carbon locked away in forests and soils. They also highlight encouraging developments in clean technology, like the decreasing costs of solar energy and batteries. With recent climate talks failing to outline a clear roadmap for phasing out fossil fuels, the message is clear: action can’t wait for the next summit.

Further reading: ‘If we wait it will be too late’: Why 500 scientists are backing this urgent climate declaration

In the auto industry, Stellantis CEO Antonio Filosa supports Germany’s proposal to ease EU car emissions rules. As the European Commission prepares to announce new proposals on December 10, Filosa believes Germany’s approach aligns with the industry’s need for growth. He emphasizes that adjusting regulations is crucial as carmakers face tough competition, particularly from China’s electric vehicle sector. Stellantis is also advocating for new targets for light commercial vehicles and measures to support small car production, balancing decarbonization with economic needs.

Further reading: Stellantis CEO backs German push to ease EU car emissions rules ahead of key review

Across England, private water companies have issued £10.5bn in green bonds since 2017, accounting for about 19% of all UK corporate green bonds. However, this financing has drawn criticism due to ongoing sewage pollution, with environmental group River Action labeling the situation as “corporate greenwash on steroids.” Critics highlight that while companies claim to support real environmental improvements, the evidence often fails to support this. Thames Water’s environmental reports have been absent for two years, and calls for greater transparency grow louder.

Further reading: England’s water industry issued £10.5bn in ‘green bonds’ despite pollution record

In a significant political shift, the UK government has cancelled its $1.15bn loan guarantee for the TotalEnergies Mozambique LNG project. Increasing concerns over climate change, security, and human rights drove this decision. Since the project’s approval in 2020, mounting issues like an Islamist insurgency that killed around 800 people in the area have led to protests. Activist groups welcomed the suspension, urging other banks to follow suit and withdraw funding from the project.

Further reading: UK pulls $1.15bn loan to Mozambique gas project after climate and terror concerns

These developments underline the need for urgent action on climate issues while balancing economic growth and environmental considerations.

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Climate Crisis,mozambique,Stellantis,Water pollution