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220 results
Why is Brookfield spending resources on union-busting instead of investing in its workforce?
The Private Equity Stakeholder Project alleges that Brookfield Asset Management's portfolio companies, including Westinghouse and Accor Hotels, have employed coercive anti-union tactics, such as misleading videos, surveillance, and the hiring of union avoidance firms, despite Brookfield's public ESG commitments.
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Document type: Statement
Assemblées générales : quel bilan pour le climat ?
Reclaim Finance reports on the 2023 annual general meetings of six French financial actors, noting a generally hostile reception but highlighting specific outcomes. While Crédit Agricole acknowledged the need to stop increasing fossil fuel capacities to limit warming to 1.5°C, and SCOR committed to stop covering risks for new gas fields, BNP Paribas refused to set 'red lines' for its financing of oil and gas majors. AXA remains the last major European (re)insurer supporting new gas fields, defending the practice via the European taxonomy.
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Document type: Statement
Repeat offenders: coal power plants top the EU emitters list
Analysis of 2022 EU-ETS data shows that the ten largest emitters in the system are all coal power plants, which together account for 13% of total EU-ETS emissions and 25% of power sector emissions. Germany and Poland are the primary contributors, together responsible for two-thirds of coal power emissions. Three utilities—RWE, PGE, and EPH—dominate the sector, collectively accounting for 30% of power sector emissions. While coal emissions rose 6% in 2022 due to the energy crisis, the long-term trend remains a decline, with 2022 levels 40% lower than a decade ago.
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Document type: Report
Nestlé’s methane blindspot and plant-based confusion
The Changing Markets Foundation asserts that Nestlé's net zero roadmap is a "green mirage" that fails to meet any of the UN's Integrity Matters recommendations. The analysis highlights a significant "methane blindspot," noting that Nestlé does not separately report methane emissions, which are estimated to be twice those of Switzerland's entire livestock sector. The author criticizes Nestlé's reliance on regenerative agriculture over proven solutions and its strategy to grow plant-based portfolios alongside dairy rather than using them as substitutes to reduce overall emissions. Furthermore, the document claims that Nestlé's actual emissions have reduced by only 1% over five years, contradicting the company's reported 6.4% reduction achieved through "creative accounting."
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Document type: Statement
clientearth-letter-to-gppc-dated-4-may-2023_redacted-ce48fb588284bc84.pdf
ClientEarth has issued a letter to the Global Public Policy Committee (GPPC) detailing the GPPC's stance on climate-related financial reporting. ClientEarth argues that most companies on the Climate Action 100+ (CA100+) focus list and their auditors fail to fully consider or explain climate-related matters in financial statements. While the GPPC maintains that its member networks (including the 'Big Four') comply with existing standards and that reporting has improved since 2020, ClientEarth disputes these claims and calls for greater transparency and reform of accounting and audit standards to better reflect material climate risks.
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Document type: Statement
L’art de noyer le poisson par BNP Paribas bis repetita
Reclaim Finance responds to BNP Paribas' claims that the 'Banking on Climate Chaos 2023' report used a biased methodology and overestimated fossil fuel financing. The organization asserts that its methodology is transparent and consistent since 2016, arguing that the reported figures—including $5.5 billion provided to the 100 largest fossil fuel developers in 2022—are likely underestimated because they exclude bilateral financing. Reclaim Finance rejects the bank's attempt to offset these figures with renewable energy investments, noting that BNP Paribas' ratio of clean energy investment to fossil fuel investment (1.7 to 1 in 2021) falls far short of the IEA's 1.5°C scenario requirement of 9 to 1.
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Document type: Statement
Net-zero integrity Nestlé’s methane blindspot
The report finds that Nestlé's net-zero plan fails to meet any of the nine relevant UN Integrity Matters recommendations. It highlights a critical 'methane blindspot,' where the company avoids setting specific methane targets despite dairy and livestock being its largest emission sources. The analysis argues that Nestlé uses 'creative accounting' via business-as-usual scenarios to mask minimal absolute emission reductions and relies on unverified regenerative agriculture and insetting to meet goals. Furthermore, the report identifies greenwashing in the carbon-neutral claims of flagship brands like Nespresso and KitKat, which rely heavily on unreliable offsets.
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Document type: Report
THE GOOD, THE BAD AND THE UGLY
The report finds that Lloyd’s of London's fossil fuel guidelines are inadequate and lack enforcement, leading to a wide disparity in climate policies among its top 20 managing agents. While some agents have adopted best-in-class exclusions, many others ignore Lloyd's recommendations entirely, continuing to provide insurance for coal, oil, and gas expansion. The document highlights specific 'carbon bomb' projects—including pipelines in Canada and East Africa and mines in Australia—that continue to receive market support, and calls for Lloyd's to implement mandatory enforcement mechanisms and strengthen its exclusions to align with a 1.5°C pathway.
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Document type: Report
PESP stands in opposition to Cop City and Atlanta police violence
The Private Equity Stakeholder Project (PESP) opposes the development of 'Cop City' in Atlanta, citing the killing of activist Manuel Esteban Paez Terán and the environmental hazards of the training facility. PESP highlights the financial links between the Atlanta Police Foundation and Inspire Brands, which is majority-owned by Roark Capital, and calls for divestment from the project.
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Document type: Statement
Sycamore Partners’ Strategy Has Hurt Workers, Generated Poor Returns for Investors
The statement claims that Sycamore Partners employs a strategy of buying struggling retailers, selling valuable assets, and cutting costs, which has led to bankruptcies for companies like Belk and Nine West. It details numerous labor, health, safety, and environmental violations across its portfolio, including a $2.95 million wage settlement for Talbots and supply chain issues in Indonesia and Thailand. Financially, the document asserts that while Sycamore's first fund performed well, its second and third funds performed in the bottom quartile relative to peers.
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Document type: Statement
RE: Meat and dairy industries methane emissions
The Changing Markets Foundation and partner organisations call on Arla Foods to address its methane emissions, estimating the company's methane output at 0.3 million tonnes. The letter highlights a systemic lack of transparency in the meat and dairy sector, noting that 15 major companies produce methane emissions equivalent to over 80% of the European Union's total methane footprint. The authors recommend that Arla set absolute emissions reduction targets aligned with a 1.5°C limit, report methane emissions separately from overall GHG emissions, reduce animal numbers in supply chains, and align lobbying efforts with global climate goals.
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Document type: Statement
RE: Meat and dairy industries methane emissions
Changing Markets Foundation and partner organisations write to Danish Crown to highlight the company's estimated methane emissions and advocate for the adoption of absolute emission reduction targets, separate methane reporting, and a reduction in livestock numbers to align with the 1.5°C global warming limit.
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Document type: Statement
RE: Meat and dairy industries methane emissions
The Changing Markets Foundation and partner organisations write to Danone's CEO to highlight the company's methane emissions and demand a shift toward absolute emissions reductions, separate methane targets, and increased supply chain transparency.
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Document type: Statement
RE: Meat and dairy industries methane emissions
Changing Markets Foundation and partner organizations call on DMK to adopt absolute emissions reduction targets, specifically for methane, and to disclose supply chain emissions. The letter highlights that DMK's estimated methane emissions are 0.1 million tonnes and notes a general lack of transparency among the 15 largest meat and dairy companies, whose combined methane emissions represent over 80% of the European Union's methane footprint.
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Document type: Statement
RE: Meat and dairy industries methane emissions
The letter presents findings that 15 major meat and dairy companies, including Fonterra, emit roughly 12.8 million tonnes of methane, representing 3.4% of global anthropogenic methane emissions. It highlights a lack of transparency regarding supply chain methane emissions and recommends that companies set absolute reduction targets aligned with a 1.5°C limit, establish separate methane targets, reduce animal numbers in supply chains, and support sustainable diet policies.
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Document type: Statement
RE: Meat and dairy industries methane emissions
The Changing Markets Foundation and partner organisations inform FrieslandCampina that its estimated methane emissions are 0.3 million tonnes, contributing to a broader trend where major meat and dairy companies fail to disclose supply chain methane. The letter demands that the company set absolute emissions reduction targets aligned with a 1.5°C limit, report methane separately from other greenhouse gases, and reduce the number of animals in its supply chains.
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Document type: Statement
RE: Meat and dairy industries methane emissions
The Changing Markets Foundation and partner organisations call on JBS Foods to adopt absolute emissions reduction targets and separate methane targets, noting that JBS's estimated methane emissions are 4.8 million tonnes.
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Document type: Statement
RE: Meat and dairy industries methane emissions
The document is a formal letter to the CEO of Lactalis Group calling for urgent action to reduce methane emissions. It cites research showing that 15 major meat and dairy companies emit roughly 12.8 million tonnes of methane, representing over 80% of the European Union's methane footprint. The authors highlight that Lactalis' methane emissions are estimated at 0.5 million tonnes and criticize the company for not reporting methane emissions separately. The letter recommends that the company set absolute emissions reduction targets aligned with a 1.5°C limit, disclose Scope 3 emissions, reduce animal numbers in supply chains, and align lobbying efforts with global climate goals.
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Document type: Statement
RE: Meat and dairy industries methane emissions
The Changing Markets Foundation and partner organisations write to Marfrig CEO Rui Mendonça Junior to demand urgent action on methane emissions. Citing their 'Emissions Impossible: Methane Edition' report, they estimate Marfrig's methane emissions at 1.9 million tonnes and highlight a general lack of transparency across the meat and dairy industry regarding supply chain methane. The letter recommends that Marfrig set absolute emissions reduction targets aligned with a 1.5°C limit, establish separate methane targets, reduce animal numbers in supply chains, and support sustainable diet policies.
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Document type: Statement
RE: Meat and dairy industries methane emissions
The Changing Markets Foundation and partner organisations inform Saputo Inc. that its estimated methane emissions are 0.4 million tonnes, representing 59% to 81% of its overall greenhouse gas emissions depending on the GWP factor used. The letter highlights a systemic lack of transparency among 15 major meat and dairy companies, which collectively emit 12.8 million tonnes of methane—over 80% of the European Union's methane footprint. The authors recommend that Saputo set absolute emissions reduction targets aligned with a 1.5°C limit, establish separate methane targets, reduce animal numbers in supply chains, and support policies for sustainable diets.
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Document type: Statement