In 2019, CIBC committed $150 billion in support of environmental and sustainable finance activities by 2027 and has to date achieved 28 pct of this goal. The bank also issued the climate-related disclosure report Building a Sustainable Future aligned with the Task Force on Climate-Related Financial Disclosures.
In 2020, CIBC issued a $500 million(US), five-year green bond to help finance new and existing green projects, assets, and businesses that mitigate the risks and effects of climate change. These include renewable energy, green buildings, clean transportation, natural resource conservation, biodiversity conservation, energy efficiency, and pollution prevention and control. Also in 2020, CIBC ranked among the top-tier of global banks for climate change action by the Carbon Disclosure Project (CDP).
CIBC, which recently became the first Canadian bank to join RMI's Center for Climate-Aligned Finance, has more than 10 million personal banking, business, public sector and institutional clients and $768.545 billion (Cdn) in total assets. (Source: CIBC, Website News, Feb., 2021)
Contact: CIBC, Nima Ranawana, 647-456-4556, email@example.com,
www.cibc.com; Partnership for Carbon Accounting,
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This commitment to climate action reinforces ENVIVA's core purpose to displace coal, grow more trees, and fight climate change. It sets forth an ambitious plan for eliminating GHG emissions from its operations in keeping with international climate goals, including the Paris Agreement's goal to limit global temperature rise to 1.5 degree C. To that end, ENVIVA will:
ENVIVA's sustainably sourced wood is used to manufacture wood pellets as a drop-in alternative to fossil fuels. ENVIVA exports its sustainable wood pellets primarily to the U.K., Europe, the Caribbean and Japan, enabling its customers to reduce their carbon emissions by more than 85 pct on a lifecycle basis, helping them reach their greenhouse gas emissions reduction targets with renewable energy, according to the ENVIVA release.
(Source: ENVIVA, PR, 17 Feb., 2021) Contact: ENVIVA Partners, LP, (301) 657-5560, www.envivabiomass.com; Carbon Disclosure Project, CDP, Lance Pierce, Pres. North America, (212) 378 2086, firstname.lastname@example.org, www.cdp.net
More Low-Carbon Energy News Carbon Disclosure Project, ENVIVA, Enviva, Net-Zero Emissions, Wood Pellet, Woody Biomass,
Toronto-headquartered CIBC is a leading North American financial institution with 10 million personal banking, business, public sector and institutional clients and $768.545 billion (Cdn) in total assets.
(Source: CIBC, PR, 14 Dec., 2020) Contact: CIBC, www.cibc.com/en/about-cibc/corporate-responsibility/environment.html; CDP, Lance Pierce, Pres. North America, (212) 378 2086, email@example.com, www.cdp.net
More Low-Carbon Energy News Carbon Disclosure Project, CIBC, CDP, Climate Change,
According to a company statement, "The energy industry has a key role to play in reducing the effects of climate change. Schlumberger seeks to lead positive, measurable changes in greenhouse gas emissions within the industry to help reduce climate change. The application of our industry-leading environmentally responsible technologies will help drive process efficiency and environmental footprint reduction."
Science Based Targets claims participation from 754 companies around the world.
Under the program, participating companies assess and make their emissions reduction goals that are in line with what climate scientists say is needed to meet the goals of the Paris Agreement, a global treaty signed in April 2016 to fight climate change.
(Source: Schlumberger, Oil & Gas, Houston Chronicle, 20 Dec., 2019) Contact: Schlumberger, www.slb.com; Science Based Targets initiative, firstname.lastname@example.org, www.sciencebasedtargets.org
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The new CDP report is based on detailed analysis across a range of carbon and transitional indicators that could have a significant impact on company performance.
ArcelorMittal recently announced its ambition to cut CO2 emissions globally and be carbon-neutral in Europe by 2050. The company is currently aiming for an 8 pct carbon footprint reduction by 2020. (Source: ArcelorMittal, Noria News, Reliable Plant, July, 2019) Contact: ArcelorMittal, Alan Knight, Corporate Responsibility GM, +32 9 347 31 11,
www.corporate.arcelormittal.com; CDP, Lance Pierce, Pres. North America, (212) 378 2086, email@example.com, www.cdp.net
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The 25 largest polluters, responsible for 50 pct of CO2 emissions, are, by descending order: China (state-owned coal production), Aramco, Gazprom, Iranian National Petroleum, ExxonMobil, Coal India, Pemex, Russia (state-owned coal production), Shell, China National Petroleum, BP, Chevron, PDVSA, Abu Dhabi National Petroleum, Poland Coal, Peabody Energy, Sonatrach, Kuwait Oil, Total, BHP Billiton, ConocoPhillips, Lukoil, Rio Tinto, Nigeria National Petroleum, and Petrobras, the only Brazilian company on the list.
The top 100 companies control most of the world's mineral rights, for oil, gas, and coal. Houston is considered the "home" of 7 of these 100 companies, followed by Jakarta, Calgary, Moscow, and Beijing.
Beko U.S. is a subsidiary of Istanbul, Turkey-based Arcelik A.S., which earned "Climate A List Company -- Global 2017 Climate & Water Leadership Award" from the Carbon Disclosure Project (CDP). The company was rated AAA by MSCI Global Sustainability Index Series.
Beko U.S., Inc. manufactures highly energy efficient home appliances.
(Source: Beko U.S., Inc. PR, 9 April, 2019) Contact: Beko US Inc., , Hasan Ali Yardimci, Pres., Beko U.S., Inc. www.bekoappliances.com
The Science Based Targets initiative (SBTi) is a joint collaboration between the Carbon Disclosure Project, the United Nations Global Compact, World Resources Institute, the World Wide Fund for Nature, and the We Mean Business coalition, intended to encourage and support companies to commit to making measurable reductions in their carbon emission levels at a scale that actively contributes to meeting the 2 degree C warming target set in the Paris Climate Accord.
Nearly 500 companies worldwide have committed to SBTI. (Source: Siemens Gamesa, SBTI, CleanTechnica, 18 Sept., 2018)Contact: Siemens Gamesa Renewable Energy, Markus Tacke, www.siemensgamesa.com; Science Based Targets initiative, firstname.lastname@example.org, www.sciencebasedtargets.org
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The global RE100 initiative aims to support and bring together companies making 100 pct renewable energy commitments formed by The Climate Group in partnership with CDP -- fka Carbon Disclosure Project.
Fujitsu's renewable move is in keeping with the company's medium- to long-term environmental effort to lower its CO2 emissions to zero by 2050. The company's carbon emissions target was approved by the Science Based Targets initiative last August.
(Source: Fujitsu, CleanTechnica, 24 July, 2018)
Contact: Fujitsu Ltd., Public Relations, +81 3 3215 5259, www.fujitsu.com; Science Based Targets initiative, www.sciencebasedtargets.org
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The SBTi is a collaboration among CDP (f.k.a. Carbon Disclosure Project), the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). Targets adopted by companies to reduce greenhouse gas (GHG) emissions are considered "science-based" if they are in line with the level of decarbonization required to keep global temperature increase below two degrees C compared to pre-industrial temperatures.
Caesars Entertainment has committed to
reduce absolute Scope 1 and 2 emissions 30 pct by 2025, and 95 pct by 2050 from a 2011 base year. Since 2011, Caesars
has reduced its total GHG emissions by 22.9 pct. (Source: Caesars Entertainment Corporation, Hotel Business, 7 June, 2018) Contact: Caesars Entertainment Corporation, www.caesarscorporate.com; Science Based Target initiative, www.sciencebasedtargets.org
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The survey also found that a majority of companies overall have board oversight of climate-related issues, only 10 pct provide financial incentives for directors to manage the risks and opportunities. The largest percentage of companies offering incentives was found in Germany. Companies in the UK, France and Germany lead in giving information across three of the four areas of governance, risk management, metrics and targets stated by the Task Force on Climate-related Financial Disclosures. In North America, the US had the lowest proportion using and preparing to use carbon pricing, 15 and 9 pct respectively, and, at 66 pct, the lowest percentage of companies with board oversight. Canada had the lowest percentage offering the incentives, at 2 pct, and the second lowest proportion providing low-carbon products or services enabling avoided emissions, at 54 pct.
CDP is a not-for-profit charity that runs the global disclosure system for investors, companies, cities, states and regions to manage their environmental impacts.
(Source: CDP, TriplePundit, 9 April, 2018)
Contact: CDP, Lance Pierce, Pres. North America, (212) 378 2086, email@example.com, www.cdp.net
More Low-Carbon Energy News CDP, Climate Change, Carbon Emissions,