Page 10 – Planet Tracker

BASF Upgrades Climate Transition Plan

Blog Emissions, Petrochemicals BASF Chemicals, Shareholder Engagement Equity BLOG0099

BASF has recently upgraded its climate transition plan aligning with some recommendations from Planet Tracker, especially regarding setting (partial) Scope 3 targets. BASF unveiled upgraded targets in December 2023, adding to its mitigation goals to reduce Scope 1 and2, some Scope 3 emissions. Notably, the company plans to decrease specific upstream Scope 3 emissions by 15% by 2030.

Corporate Alignment with Climate Goals Under Scrutiny: LyondellBasell & Bayer demonstrate good practice

Press Release Thought Leadership Greenwashing, Transparency & Traceability

London 12 February 2024 – In the face of escalating global climate concerns, in a new report from financial think tank Planet Tracker, corporations are being urged to reassess their affiliations with industry associations that diverge from their stated environmental objectives.

Climate Transition Mismatch

Report Thought Leadership Greenwashing, Transparency & Traceability PT0092

Company membership in trade associations has emerged as a critical area of concern, particularly when corporate management teams claim to be supportive of lowering their carbon footprint but are members of associations that appear to be at odds with the goals set out in the Paris Agreement. A new report from Planet Tracker urges corporations to reassess their affiliations with industry associations that diverge from their stated environmental objectives.

Colgate’s climate disclosures show a positive change

Blog Emissions, Food Systems Colgate-Palmolive Co Financial Risk & Reward, Shareholder Engagement Equity BLOG0098

In corporate sustainability, ongoing dialogue and continuous improvement are integral to fostering positive change. In the spirit of transparency and collaboration, in this update we revisit our assessment of Colgate-Palmolive’s (CL) climate transition plan, taking into account the valuable disclosures made by the company in response to our previous report.

Planet Tracker Urges Increased Water Risk Disclosure in the Apparel Industry

Press Release Emissions, Textiles

London 31 January – In a recent analysis of 3,900 documents, transcripts and filings from apparel-related companies, financial think tank Planet Tracker examined how the management teams of 29 major apparel brands perceive water-related risks.

Exposing Water Risk

In a recent analysis of 3,900 documents, transcripts and filings from apparel-related companies using Natural Language Processing (NLP), Planet Tracker examined how the management teams of 29 major apparel brands perceive water-related risks.
An overwhelming 90% of the examined documents failed to mention water-related risks, with many companies barely mentioning water-related risk at all, highlighting a significant gap in disclosure practices.

Nature Conferences to Watch in 2024

Blog Biodiversity Policy BLOG0097

An overview of the major nature-related events planned for 2024

Biodiversity risk – further delays

Blog Thought Leadership Financial Risk & Reward, Policy, Transparency & Traceability Multi-Asset BLOG0096

The persistent delay in addressing the clear downward trend in biodiversity loss is both puzzling and disappointing. However, there are bright spots. The World Economic Forum (WEF) 19th Global Risks Report shows that environmental issues are on the risk radar of academics, businesses, governments, the international community and civil society. Although there is a belief that regulation, particularly global treaties and agreements, are the solution to both biodiversity loss/ecosystem collapse and halting a critical change to Earth systems, this year we will be able to observe whether this plays out. 2024 will see two UN COPs, one on biodiversity (COP16) an another on climate (COP29). Will they demonstrate that biodiversity loss & ecosystem collapse is a near term risk that urgently needs addressing?

Planet Tracker Highlights Transparency Concerns in Toray Industries’ Sustainability Practices

Press Release Emissions, Petrochemicals Shareholder Engagement

Planet Tracker’s recent analysis of Toray Industries’ challenges the company’s climate alignment, asserting that it is on a trajectory aligned with +3°C. According to the analysis, Toray’s total emissions were 12,703 ktCO2e in 2022, with nearly 60% stemming from Scope 3. While Toray emphasises its intention to reduce absolute emissions by 50% per unit of revenue by 2031, Planet Tracker contends that the company is not on track to achieve its 2031 or 2050 targets.

Toray Climate Transition Analysis

Report Emissions, Petrochemicals Toray Industries Inc Chemicals, Shareholder Engagement PT0090

Despite Toray Industries’ stated goal of achieving Paris-aligned status by 2031 and net zero by 2050, analysis by Planet Tracker concludes that Toray lacks a robust plan to achieve net zero for Scope 1 & 2 by 2050 and highlights the absence of a clear strategy for Scope 3 emissions. While Toray aims to reduce absolute emissions by 50% per unit of revenue by 2031, Planet Tracker argues that the company is not on track to meet these targets.

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