Gustavo Bernal Torres
Flawed Data, ESG Predictions, Blackstone, and Lobbyists
Here are 5 ESG insights you might have missed this week:
1. Countries’ Climate Pledges Built On Flawed Data, Post Investigation Finds-
Across the world, many countries underreport their greenhouse gas emissions in their reports to the United Nations, a Washington Post investigation has found.
When we looked at the most recent year of reporting to the United Nations for all 196 countries, we found that only 45 of them, almost all developed, reported in 2019, the last available year for country reports.
To bring these old reports to date, The Post created a model to predict what the 148 countries that don’t have a 2019 report would have likely reported that year.
Link to Source: https://www.washingtonpost.com/climate-environment/interactive/2021/greenhouse-gas-emissions-pledges-data/
2. Where Will ESG Investing Be in Five Years?-
The Wall Street Journal asked 10 experts to look into their crystal balls and predict the fate of socially responsible investing. They had some very different views.
Will investors be able to easily compare fund performance? Will there be a uniform set of rules that allow for more transparency and make it harder for companies to “greenwash,” or misleadingly label their investment options as green or sustainable?
Here are 10 views on where ESG investing is—or should be—heading.
Link to Source: https://www.wsj.com/articles/esg-investing-in-five-years-11637161312
3. Biden Signs Infrastructure Deal into Law: Energy Transition Investment Highlights-
President Biden on Monday signed into law the $1 trillion Infrastructure Investment and Jobs Act, after gaining bipartisan support with 13 Republicans in the House of Representatives supporting the landmark legislation.
Hydrogen. The infrastructure law provides billion in spending to support the development as clean hydrogen fuel, including $8 billion for the development of clean hydrogen hubs for targeting the transport and industrial sectors, $1 billion for clean hydrogen electrolysis R&D, and $500 million for hydrogen manufacturing and recycling.
Carbon removal. The law includes over $10 billion targeting carbon management technologies and infrastructure, including roughly $3.5 billion each for direct air capture hubs and carbon capture projects, $2.5 billion for commercialization of carbon storage, as well as investments in industrial decarbonization demonstration and carbon utilization programs.
Link to Source: https://www.esgtoday.com/biden-signs-infrastructure-deal-energy-transition-investment-highlights/
4. Blackstone's 2021 ESG Update: An Integrated Approach to ESG-
This update will detail some of the important advancements we’ve made in scaling our ESG program and outline other efforts where we have more work to do.
Blackstone believes that Environmental, Social and Governance (ESG) principles are crucial to developing strong, resilient companies and assets that deliver long-term value for our investors. We are committed to integrating ESG within our investment process and operating philosophy.
Our approach is grounded in a responsibility to our investors to be careful stewards of capital. We have long been implementing a number of initiatives designed to make our companies stronger and more resilient. Many of these, like promoting sustainability and diversity, are today considered core components of ESG. We are confident that the more we weave ESG factors into our corporate purpose and performance, the more value we will be able to deliver — for our investors, our portfolio companies and the communities we serve.
Link to Source: https://www.blackstone.com/insights/article/2021-esg-update-an-integrated-approach-to-esg/
5. COP26: Fossil Fuel Industry Has Largest Delegation At Climate Summit-
Campaigners led by Global Witness assessed the participant list published by the UN at the start of this meeting.
If the fossil fuel lobby were a country delegation at COP it would be the largest with 503 delegates – two dozen more than the largest country delegation.
Over 100 fossil fuel companies are represented at COP with 30 trade associations and membership organisations also present
Link to Source: https://www.bbc.com/news/science-environment-59199484
One more thing: For the past 3 weeks we have been linking Edie’s daily coverage from COP26. They also made a great podcast series so do check that out and hear their final episode on the legacy of Glasgow.
Find the podcasts here: https://www.edie.net/podcasts/COP26/
Do share your comments or the content you think our community should not miss!