Sustainability News and Trends – July 2022
Posted by | Fuld & Company
For the latest and most important sustainability news and developments from May and June 2022 please see below for all the key stories.
For a PDF version of this news please download here.
National Governments’ Announcements
A summary of the key announcements by national governments in relation to sustainability is as follows:
Companies Making Sustainability Linked Acquisitions & Investments
Some of the key sustainability linked acquisitions and investments have been made by the following companies.
Key Sustainability News
A summary of the key sustainability news that has occurred over the past month is listed below.
University of Strathclyde, SSE Renewables, and Renewable Parts Ltd have collaborated to work towards reducing the carbon footprint of the UK wind energy industry
- The National Manufacturing Institute Scotland (NMIS), hosted by the University of Strathclyde, SSE Renewables – a renewable energy electric generation company, and Renewable Parts Ltd. (RPL) – supplier of wind turbines parts in the UK, have come together under an MoU to support development of a circular and sustainable wind energy sector in the UK
- The partnership between the organizations aims to reduce the carbon footprint of the wind industry by reducing waste from wind farms at the end of their life
- The collaboration will develop sustainable supply chains while establishing Scotland as the advanced R&D centre for wind turbine component remanufacturing in the UK
ORIX Group moves one step forward in its global commitment to sustainability by investing in three US-based biofuel projects
- USA division of ORIX Corporation, a Japanese diversified financial services group, has completed an investment in three renewable natural gas (RNG) anaerobic digestion projects located in Iowa and South Dakota
- The equity investments in the projects developed by Dynamic Renewables (developer and operator of biofuel projects in the US) will help in converting more than 194 million gallons of dairy manure annually into renewable natural gas while reducing greenhouse gas emissions
- With the ongoing commitment of ORIX to sustainability, the investments in the biofuel projects are targeted to remove large amounts of methane from the atmosphere each year
The Ghana-based environmental organization receives $15 million from Shein to develop sustainable fashion by 2025
- Shein, the Chinese fast-fashion brand, committed $15 Billion to the Gold Foundation, a Ghana-based environmental organization, towards improving textile waste management in the Ghana region
- The 3-year partnership between Shein and the Gold Foundation aims to work on containing and preventing the health and environmental risks from the fashion industry
- The resources are intended to evolve community-based businesses that turn textile waste into new products and initiate fibre processing initiatives with Ghanaian textile manufacturers
10-Jun-2022: Home appliance
Japan-based Rinnai Corporation introduced a first-of-its-kind hydrogen-run water heater for household use in Australia
- Rinnai Corporation, a Japanese multinational appliance company, launched a new household water heater that operates on a modern technology which uses hydrogen as a power source
- With the motive of making all its products carbon neutral, the company developed the zero-carbon water heater using hydrogen gas that burns easily and does not convert to carbon dioxide after burning
- Changing the previously held notion that hot water can only be made from fossil fuels, the company intends to bring zero CO2 heaters, running on hydrogen, into the market soon, with demonstration tests starting in October 2022 in Australia
03-Jun-2022: Agriculture, Farming
Pune-based NGO – TEFF – develops a mobile excellence centre for developing the rural agriculture sector through sustainable farming techniques
- With the aim to promote rural sustainability, a Pune-based NGO, The Eco Factory Foundation (TEFF), has launched a knowledge mobile centre named Shashwat Bharat Krush Rath (SBKR) for the agriculture sector
- It is a unique, unparalleled mobile centre established to educate the rural people in agriculture about the significance of sustainable farming, focusing on rural sustenance and waste management
- Alongside the excellence centre, TEFF is also working on an entrepreneurship program for farm-related businesses for developing sustainable farming methods and enhancement of the rural agriculture sector
Accenture, Microsoft, and Avanade have partnered to empower organizations to achieve their sustainability goals
- Accenture has joined hands with Microsoft, and Avanade, a management consulting company, to expand their focus to broader environmental, social and governance (ESG) challenges in the future
- The collaboration aims to help organizations to evolve their business operations for transitioning to net zero carbon emissions, addressing industry-specific sustainability challenges
- The three companies plan to develop joint offerings for transition across four areas: Digital Manufacturing, Low Carbon Energy, Sustainable IT and Green Software Engineering, and ESG Measurement, Analytics and Performance
Citi launched cash deposit solutions with the aim to provide comprehensive sustainable cash management solutions to clients
- Citi, an American multinational investment bank and financial services corporation, launched new cash deposit solutions to help clients with their investments toward sustainability
- The launch of the two deposits – Sustainable Time Deposit (TD) and Sustainable Minimum Maturity Time Deposits (MMTD) – is in alignment with the company’s green and social bond frameworks and its Sustainable Development Goals (SDGs)
- Funds invested in the deposits are assigned to finance assets in green and social finance projects like renewable energy, energy efficiency, sustainable transportation, green building, etc.
23-may-2022: Aqua, Water, Environment
HCL and UNLEASH have collaborated to preserve and conserve the oceans and aquatic ecosystem
- HCL Group, Indian IT services and consulting company, and UNLEASH, a global innovation program for the UN SDGs have come together to work towards the conservation of oceans and aquatic ecosystem
- The year-long collaboration between two entities aims to work on issues generated in aquatic systems from water-from-source (mountains and glaciers) to sinks (oceans and seas)
- Under the collaboration, preservation and conservation of nature and the ocean will be focused with the help of youth who could develop solutions for achieving various Sustainable Development Goals (SDGs)
For a PDF version of this news please download here.