(Credit score: Pixabay)Citi and Bank of America introduced lately they may be a part of the Partnership for Carbon Accounting Financials, a worldwide framework for monetary establishments to measure and disclose the emissions from their lending and funding portfolios. Final week, Morgan Stanley grew to become the primary international US bank to decide to this initiative.
“Citi and Bank of America’s decision to join Morgan Stanley in committing to disclose emissions represents great progress,” mentioned Danielle Fugere, president of As You Sow. “This chain of announcements demonstrates the mainstreaming of the financial sector’s need to take responsibility for its massive carbon footprint. These announcements represent a clear signal that carbon-heavy investments have no future.”
Final month, As You Sow launched its “Waste & Opportunity 2020: Searching for Corporate Leadership” report analyzing the actions, or inactions, of 50 of the most important US consumer-facing corporations to scale back plastic air pollution. The report concludes that corporations are far too gradual in adopting responsive actions and selling reusability, recyclability, or compostability of their packaging, and failing to shift away from wasteful packaging, towards round models that prioritize absolute discount.
Out of the 50 corporations within the beverage, quick-service restaurant, client packaged items, and retail sectors, the best grade was a B- for Unilever. Twelve corporations obtained C grades, 22 obtained D grades, and 15 obtained F grades. The six lowest ranked corporations by measurement of income had been Walmart, Kroger, PepsiCo, Tyson Meals, Kraft Heinz, and Mondelez Worldwide. The report says the excessive variety of poor and failing grades displays an absence of fundamental purpose setting, technique, and planning which should be developed to successfully deal with the plastic air pollution disaster.