Companies with a clear sense of purpose are more likely to invest in sustainability initiatives

We kick off this week’s Snippets with an article on identifying an organisation’s corporate purpose. This can be beneficial for companies as it helps them create value by aligning stakeholders, promoting innovation, attracting talent, and increasing customer loyalty. One of the ways to measure a company's progress towards achieving its purpose is by using data. Companies can avoid greenwashing by using data-driven strategies and credible information to support their sustainability claims. Our next article is an opinion piece where the author argues that the current system of wealth accumulation and consumption is not sustainable, and calls for a radical rethinking of how we live and work.

The current oil companies sponsored COP28 agenda should focus on a more gradual and pragmatic approach to decarbonization by prioritizing the use of existing technologies, such as renewable energy and energy efficiency, rather than relying on unproven and expensive technologies as discussed in the open letter to Sultan Al Jaber, President of COP28. This strategy is very evident, as seen in China’s energy transition that is taking place in the country and the impact it is having on its economy.

Turning a former parking lot into an "urban food forest" has provided the community with a sustainable source of fresh produce for the community while also reducing the heat island effect and increasing biodiversity. The Woodland Trust has called for greater protection of old trees as they are particularly important for biodiversity and for absorbing carbon dioxide from the atmosphere. Moreover, degraded tropical forests that have undergone regeneration can offset about a quarter of the carbon emissions produced by deforestation.

Researchers have found that people exposed to traffic noise had a higher risk of developing hypertension and cardiovascular disease. This strengthens the need and necessity to transition to EVs. We cap off this week’s Snippets articles by looking at what steel manufacturers have achieved in the production of green steel.

Having a clear corporate purpose can help companies create value and improve their sustainability performance. Defining and communicating a purpose can attract and retain employees, enhance brand reputation, and strengthen stakeholder relationships. Companies with a clear sense of purpose are more likely to invest in sustainability initiatives and be more resilient in facing challenges. Additionally, purpose-driven companies are more attractive to consumers, who are increasingly conscious of the impact of their purchasing decisions on the environment and society. Having a corporate purpose makes business sense. Read more...

If you have a company purpose, it also helps to use data to back the purpose up and avoid greenwashing. Companies must be transparent and accurate in their sustainability claims, and not merely engage in green marketing. Using data analytics to track sustainability performance can ensure that it aligns with a company's sustainability goals. From there, companies can communicate clearly with stakeholders, which further ensures accountability. Ultimately, data-driven strategies can help companies avoid greenwashing and build trust with stakeholders. Read more....

With the climate crisis on our doorstep, It’s now time to redefine our relationship with nature, wealth and the planet. The wealthy have a responsibility to address the climate crisis, given their disproportionate role in causing it. Instead of relying on personal consumption choices or technological solutions, the wealthy should use their resources to create a more equitable society and fund programs that address the root causes of climate change. There is also a need for collective action and political will to address the issue effectively. Read more....

We cannot prevent the financial extinction of Big Oil. Technological transitions are both brutal and swift, and the gears of a global energy transition away from fossil fuels are already in motion. Clinging onto the fossil fuel industry will only expose parties to gigantic financial risks. This is the stark warning Dr Nafeez Ahmed gives in this open letter to the President of the UAE President of COP28, providing an economic and technological reality check of the current COP28 agenda. Read more....

Meanwhile, China’s energy transition is accelerating, with renewable energy accounting for 64% of the country’s newly installed capacity in the first half of 2022. The share of renewables in China has increased significantly over the past decade, but there is still more needing to be done. This article celebrates China’s successes in its energy transition, whilst highlighting areas with further decarbonisation opportunities. The article provides detailed figures and statistics surrounding China’s energy transition, which are often unspoken as the world’s highest emitter. Read more....

An urban food forest, which began almost 30 years ago in Dunbar Spring Arizona provides food for residents and roughage for livestock, and tree canopies to provide relief to residents in the third fastest-warming city in the USA. Dunbar Spring has become a model for other areas grappling with increased heat, drought and food insecurity caused by climate change. Wide community acceptance and participation have meant the urban forest has gone from strength to strength, helping residents live with the impacts of climate change. Read more....

All trees play an important role in carbon sequestration, so it’s always disheartening when they are cut down. According to this article from the UK, Mature and veteran trees should have the same protections as heritage buildings. 100 trees were cut down in Plymouth despite local opposition, and 16,000 people had signed a petition calling for the trees to be saved. A council survey carried out as part of community engagement revealed that 68% of respondents did not support its redevelopment plan. Unfortunately, that didn’t stop the council. Read more....

Staying with trees, and investing in conservation for secondary and degraded forests (“recovering forests”) is essential, but warns that this should not come at the expense of conserving old-growth forests, which remains the most cost-effective climate mitigation strategy in the land-use sector. Good things come when forests are restored, wildlife can flourish, and water quality improves. And of course, more carbon is stored by forest regeneration. There are 60m hectares of recovering (1.5 % of the world’s forested area), all helping to store carbon. Read more....

A new study published in the Journal of the American College of Cardiology has shown the link between noise pollution from internal combustion engine vehicle traffic and increased levels of hypertension and cardiovascular disease. Rates of hypertension are highest in participants in locations with annual 24-hour mean traffic noise of over 65 dB. The study also included data on air pollution levels of particulate pollution (PM2.5) and Nitrogen Dioxide (NO2), both released by internal combustion engines, but absent from electric vehicles. Read more....

For every ton of steel produced, close to 2 metric tons of carbon dioxide is released into the atmosphere. It includes the impact of cement, fertilizer, chemicals and more, which collectively account for close to 40 per cent of GHG emissions produced on an annual basis. This article examines the efforts of the steel industry to decarbonise the production of steel as much as possible through electrolysis, using renewable generated electricity. Efforts are also going into recovering high-value materials from mining slags such as tin and niobium. Read more....