Written by Anthony Walters – Clever‘s Head of ESG, ESG in 5 is a roundup of 5 key pieces of ESG news and performance, from the past week.
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UK Workers Demand Heat Breaks
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Amazon Rails in Emissions
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HSBC Funds Fashion Fix
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Microsoft Goes Green
Market Recap
The MSCI ACWI ESG Focus index led for the week, returning 1.11% compared to the 1.10% delivered by the MSCI ACWI Index.
Amazon Cuts Shipping Emissions with 50% Increase in Rail and Sea Transport in Europe
Amazon revealed that it has grown its use of rail and sea transportation by 50% in 2023 in Europe, resulting in significant reductions in carbon emissions, as well as speeding up customer deliveries and inventory transfers, according to the company. Using a rail or sea route to transport packages or inventory helps the company reduce carbon emissions by almost 50%. The company said that it now distribute products via more than 100 rail lanes and more than 300 sea routes built on partnerships with European rail and sea carriers.
HSBC Backs Fashion Supply Chain Decarbonisation Fund
Fashion sustainability-focused nonprofit Apparel Impact Institute (Aii) announced today that HSBC has joined as a philanthropic funder of its $250 million Fashion Climate Fund (FCF). Launched last year, with lead funders including Lululemon, H&M Group, H&M Foundation, and the Schmidt Family Foundation, the fund seeks to drive actions and solutions supporting the industry’s goal to halve emissions by 2030, with a particular focus on the supply chain, which accounts for the vast majority of the fashion industry’s emissions.
UK workers ‘should get day off’ if workplace is hotter than 30C
A maximum indoor temperature working law giving people a day off if workplace temperatures surpass 30C should be mandated by government, a new report recommends. The report by the Fabian Society thinktank highlights inequalities in who bears the brunt of the impacts of climate breakdown and puts responsibility on bosses and landlords to stop people from overheating. An increasing number of people are dying from excessive heat in the UK. More than 4,500 people died in England in 2022 due to high temperatures, which was the largest figure on record.
Microsoft Signs One of the Largest-Ever Nature-Based Deals to Remove 1.5 Million Tons of Carbon
Microsoft and carbon removal startup Mombak announced a one of the largest-ever nature-based carbon removal offtake agreements globally, with Mombak providing the tech giant with up to 1.5 million carbon removal credits from its reforestation projects in the Brazilian Amazon. According to Mombak, the new agreement will enable the company to reestablish around 25 forests in deforested areas of the Brazilian Amazon biome, containing at least 30 million trees of more than 100 native Brazilian species, including several species threatened with extinction.
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Sources.
Anthony Walters – Head of ESG at Clever Adviser Technology Ltd (Clever)
Market recap – Data sourced from FE FundInfo & Koyfin (quoted in Pounds Sterling)
Amazon Cuts Shipping Emissions with 50% Increase in Rail and Sea Transport in Europe by Susan Lahey, ESG Today, 07/12/23
HSBC Backs Apparel Impact Institute’s Fashion Supply Chain Decarbonization Fund, by Mark Segal, ESG Today, 11/12/23
UK workers ‘should get day off’ if workplace is hotter than 30C by Helena Horton, Guardian, 12/12/23
Microsoft Signs One of the Largest-Ever Nature-Based Deals to Remove 1.5 Million Tons of Carbon, by Mark Segal, ESG Today, 06/12/23
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