Arkema, which had already strengthened its climate plan in July 2022, is setting new, even more ambitious targets by 2030 across its whole value chain, approved by the organization Science Based Targets initiative (SBTi), a partnership between CDP (Carbon Disclosure Project), United Nations Global Compact, WRI (World Resources Institute), and WWF (World Wide Fund for Nature). The Group now aims to reduce its greenhouse gas emissions by 48.5% for Scopes 1+2 and by 54% for Scope 3 by 2030 versus 2019.
We receive and publish this post by Jukka Kantola, the founder of the World BioEconomy Forum. The World BioEconomy Forum is a global platform for circular bioeconomy stakeholders to share ideas and promote bio-based solutions.
We have witnessed that several economies are putting more efforts into the bioeconomy. Only in the last half year alone there have been multiple examples of work being carried out, despite other challenges, including the tail end of the pandemic, geopolitical tensions and energy prices.
Royal DSM, a global purpose-led science-based company, pledges to purchase all of its electricity worldwide from renewable sources as well as further reduce greenhouse gas (GHG) emissions from its own operations faster with stringent new 2030 sustainability targets.
Basf Venture Capital GmbH, the corporate venture arm of Basf, has invested in Climentum Capital’s first €150 million venture fund. Both organizations will engage in a strategic relationship fostering knowledge sharing, deal sharing and co-investment opportunities. The fund is backed by other renowned corporate investors, banks, industrial conglomerates as well as prominent family offices and successful tech entrepreneurs, all of which share the ambition to combat climate change through investing in disruptive technologies. The investors also include the Danish growth fund Vaekstfonden and Arbejdernes Landsbank.
The upcoming Bonn Climate Change Conference (6-16 June) is set to kick off next week, designed to prepare for the UN Climate Change Conference (COP27) in November of this year. COP27 in Sharm el-Sheikh, Egypt, will build on the positive outcome of last year’s UN Climate Change Conference (COP26) in Glasgow, which finalized operational details of the Paris Agreement and identified work going forward in the key areas of mitigation, adaptation, support – particularly finance – and loss and damage.
Elanco Animal Health Incorporated and DSM have created a strategic alliance connecting two leading, sustainability-focused companies to address one of society’s most significant opportunities of the decade, mitigating climate change by reducing greenhouse gas emissions from farming. Elanco has secured the exclusive U.S. licensing rights to develop, manufacture and commercialize Bovaer® for beef and dairy cattle. Bovaer® is a first-in-class and best-in-class methane-reducing innovative feed additive for beef and dairy cattle, already available in Europe, Brazil, Chile and Australia. More than 50 peer-reviewed studies and 48 on-farm trials in 14 countries show Bovaer® consistently reduces enteric methane emissions by approximately 30% for dairy cows and even higher percentages for beef cattle.
Renewables are the key to energy security, said the Intergovernmental Panel on Climate Change (IPCC) Working Group III report released last Monday. Countries that have adopted low carbon policies are already seeing a drop in emissions.
Commitments made in advance and during COP26 have put keeping global warming to 1.5°C within reach, accelerating investment towards net zero emissions. Stronger policies and 2030 targets are still required to unlock the trillions of dollars required to avoid the worst impacts of climate change.
“Global warming of above 1.5°C presents irreversible, foreseeable and large-scale risks to investors and financial markets,” Rebecca Mikula-Wright, Chief Executive Officer of the Asia Investor Group on Climate Change (AIGCC), said. “The commitments that have come out ahead and as part of Glasgow have been significant but global action is still falling short.
“Already now, the circular and sustainable bioeconomy is contributing to all dimensions and objectives of the European Green Deal. Through the substitution of fossil-based products and materials and through carbon sequestration in soil and forests, together with its storage in harvested wood products, the bioeconomy can generate significant carbon savings to reduce the EU’s greenhouse gas emissions by at least 55% by 2030”. To say this is a European Commission’s official, who prefers to remain anonymous. In this long interview with IlBioeconomista, the Commission’s official talk about the Green New Deal, the bioeconomy and the partnership Circular Bio-based Europe.