Investors: Methane targets wanted

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With upcoming annual meetings full of shareholder resolutions calling on companies to set greenhouse gas (GHG) reduction targets, EDF released "Taking Aim", a new paper explaining why methane targets are the next frontier for the oil and gas industry and establishing five keys for strong targets. The paper explains how companies that set targets are more likely to be successful when it comes to securing methane emission reductions. Setting targets also demonstrates to investors that corporate decision makers understand methane risk management is critical to competing in an ever-cleaner energy market.

With the Task Force for Climate-Related Financial Disclosure (TCFD) framework also highlighting the importance of targets, “Taking Aim” provides some initial guidelines that can help frame what an ambitious, leading target looks like for oil and gas industry methane.

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Cummins CEO says innovation, sustainability, and regulations are good for business

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At Environmental Defense Fund, we believe that environmental progress and economic growth can and must go hand in hand. EDF+Business works with leading companies and investors to raise the bar for corporate sustainability leadership by setting aggressive, science-based goals; collaborating for scale across industries and global supply chains; publicly supporting smart environmental safeguards; and, accelerating environmental innovation.

This is the sixth in a series of interviews exploring trends in sustainability leadership as part of our effort to pave the way to a thriving economy and a healthy environment.

I’ve worked with many business leaders over the course of my career, and there are few more forward-thinking on sustainability and environmental innovation than Tom Linebarger, Chairman and CEO of Cummins, Inc.

As head of the largest independent maker of diesel engines and related products in the world, Tom has set lofty environmental goals for Cummins, including cutting energy intensity from company facilities by a third by 2020.

Under Tom’s leadership, sustainability and community engagement have become core parts of company culture – including efforts to establish technical education programs around the world to lift youth out of poverty and publicly favoring tough, science-based and enforceable environmental regulations.

I recently had a chance to catch up with Tom and learn more about the formation of Cummins’ sustainability goals and the importance of long-term protective standards in the trucking industry.

Here’s an edited transcript of our conversation.

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4 corporate sustainability trends all business leaders should be watching in 2018

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Today marks my one year anniversary of joining EDF Climate Corps, where I’ve spent the last 12 months helping companies think through the strategies for meeting – or setting – their climate goals. What I’ve learned in this short time is that companies are going beyond the “safe bet” to tackling bigger and more impactful projects. In doing so, I’ve identified four important trends in corporate sustainability this year that all business leaders should be watching.

But before we get into these trends, let’s step back and look at how corporate sustainability has evolved. In my previous role as president of Green Impact Campaign, I helped thousands of small businesses get their foot into the sustainability door by investing in energy efficiency. It was a low-risk, reliable way to cut costs and reduce their carbon footprint. Now, with EDF Climate Corps, I’m working with businesses to go beyond implementing the already-proven strategies – like energy efficiency – to setting new trends that others will follow.

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What Nicholas Kristof missed about toxics in our bodies

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As a consumer health expert, I was glued to Nicholas Kristof’s recent New York Times op-ed, “What poisons are in your body?” Kristof has covered the dangers of toxic chemicals for years and instituted lifestyle changes to limit exposure to chemicals that worry him most. Among his top concerns are endocrine disruptors – which alter hormones and are associated with lower sperm counts in men, for example. Despite his knowledge and intentional lifestyle changes, his recent blood test results still came back with high levels of a variety of chemicals. Wow.

Kristof invites readers to take a survey identifying the common products they have used in the last month. The survey results tell you what chemicals you have been exposed to through these products as well as the health hazards associated with each chemical. It’s important that Kristof continues to shine a light on the issues of hazardous chemicals in products we use every day and the lack of oversight on the safety of these chemicals.

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Breathless in China: Walmart, sustainability and why you should care

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Photo: Walmart China

I am just back from a week in Beijing, where Environmental Defense Fund was part of Walmart’s announcement of a new goal to reduce greenhouse gas emissions in its China supply chain. Had I not been there in person, I’m not sure I could have accurately comprehended how essential that this goal – a 50 million metric ton (MMT) reduction by 2030 – must be followed by swift implementation.

That’s because every day in Beijing felt like the worst day in San Francisco, my home, when last year’s horrific wildfires made our eyes and lungs burn. “Normal” in Beijing means not being able to see down to the end of the block, and sharing the crowded streets with commuters, parents and children all covered by facemasks.

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Can a team of finance experts and ocean scientists help save wild fisheries?

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A new investment tool from Credit Suisse aims to bolster investment in the recovery of global fish populations.

Namrita Kapur, Managing Director of EDF+Business

Environmental Defense Fund Q&A with Namrita Kapur, Managing Director at EDF+Business and Ian Murdock, Risk and Finance Data Analyst at Credit Suisse

Overfishing endangers ocean ecosystems and the billions of people who rely on seafood for their food and livelihood. Without sustainable management, our fisheries face dramatic declines – and we face a food crisis. To reverse this global challenge, EDF has engaged in global partnerships to find solutions for thriving oceans that support more fish, food and prosperity. Most recently, EDF teamed up with Credit Suisse to find sustainable finance solutions to address the systemic challenge of reinvesting in sustainable fisheries. Namrita Kapur sat down with Ian Murdock to discuss this innovative new tool.

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Amazon’s big opportunity: Transparency in sustainability

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At Environmental Defense Fund, we believe that environmental progress and economic growth can and must go hand in hand. EDF+Business works with leading companies and investors to raise the bar for corporate sustainability leadership by setting aggressive, science-based goals; collaborating for scale across industries and global supply chains; publicly supporting smart environmental safeguards; and, accelerating environmental innovation.

This is the fifth in a series of interviews exploring trends in sustainability leadership as part of our effort to pave the way to a thriving economy and a healthy environment.

Over the past few years, Amazon’s sustainability team has been busy setting ambitious goals on renewable energy, making their voice heard on smart environmental policies, and leveraging their expertise in technology to drive innovation that can benefit the planet – and boost profits.

I recently chatted with Kara Hurst, head of worldwide sustainability at Amazon and former CEO of The Sustainability Consortium, about how innovation and environmental goals intersect at Amazon, the launch of the new Amazon Sustainability Question Bank, and how sustainability issues could play a role in deciding the next Amazon headquarters (HQ2).

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I'm lovin' it: McDonald's exemplifies a sustainability leader

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McDonald’s – the world’s largest restaurant company – recently announced new climate goals,  which were quickly followed by many comments like this one, from Axios:

"These are concrete targets, but they’re not as of yet backed up with specific plans of how to get there."

Axios is right. These are concrete targets (and they’ve been approved by the Science-Based Targets Initiative).  Here are the details: by 2030, McDonald’s is pledging to reduce greenhouse gas emissions from their restaurants and offices by 36 percent, and reduce their emissions intensity (per metric ton of food and packaging) across their supply chain by 31 percent. The company estimates these reductions will prevent 150 million metric tons of C02 equivalents (CO2e) from being released into the atmosphere. That’s huge – it’s the equivalent of removing 32 million cars from the road for one year.

But I want to challenge Axios in saying that the company has “no specific plans" to get there.

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Environmental innovation will transform business as usual

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As the Trump administration rolls back environmental protections that could harm human health for decades, it’s increasingly up to businesses to lead the way, charting the course to a future that includes both a thriving economy and a thriving planet.

Leading the way requires first setting ambitious, public targets like the over 340 companies taking science-based climate action and 90 that have approved science-based targets; collaborating with partners across the value chain for maximum scale and impact – Walmart’s Project Gigaton, a collaborative effort to reduce 1 billion tons for emissions, is a powerful example; and, supporting smart climate and energy policy

BSR’s new sustainability framework closely echoes these leadership approaches and recommends that companies create resilient business strategies that align with sustainability goals. GreenBiz’s 2018 State of Green Business report further supports these and other requirements for sustainability leadership, adding that businesses need to improve reporting on climate risk, impact, and progress towards goals. The We Mean Business coalition adds further calls to action for companies: join the low carbon technology partnerships initiative, grow the market for sustainable fuels and electric vehicles, and take proactive steps to end deforestation by 2020.

Yet currently missing from all of this corporate sustainability leadership guidance is a call for companies to accelerate environmental innovation and deployment of next generation technology – sensors, AI, data analytics and visualization, and digital collaboration – to solve our most pressing environmental challenges.

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Meet the women of the clean energy and sustainability workforce

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I remember some of the first interactions I had with companies working in the clean energy industry. I was an analyst at the time, which meant the conversations were more often than not, very technical, wonky and with men. At first, this was overwhelming. But my all-women MBA program prepared me for the male-dominated business world. I turned these initial concerns into motivation, and I built my technical expertise so that I could hold my own in conversations. If my knowledge was questioned, I was ready with an answer.

I’m not alone in this experience. Like many other STEM industries, women are underrepresented in the energy workforce, counting for only roughly 20-35 percent. The good news is that this trend is changing, and clean energy is leading the way. The clean energy sector is the farthest along in closing this gender gap compared to other energy sectors, opening up numerous opportunities for women looking to start their careers in this field, and I’m proud to be helping to make this possible.

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