 |
|
|
|||||
As the federal government moves to eliminate U.S. climate rules, companies still face pressure to be better stewards of the planet from their customers, investors, employees, local communities, lenders, insurers, global trading partners and many states. Each of those groups knows it will face increasing costs from rising temperatures and extreme weather if corporations dont rein in their greenhouse gas emissions. Many companies will find that returning to past polluting ways isnt in their best interest. Over 60% of chief financial officers surveyed by global management firm Kearney in December 2024 signaled that they intended to invest at least 2% of their revenue in sustainability in 2025. These companies may maintain a low profile about climate change while the Trump administration is in power, but they have strong financial incentives to continue to reduce their emissions and their own climate risks. We study private environmental governance the ways companies and organizations work outside government to improve the nations sustainability and reduce environmental damage. Our work finds that, in this polarized era, addressing climate and sustainability challenges is not just a matter of government action. Thats because a lot of climate and sustainability progress is underway in the private sector. Sustainability matters to companies bottom lines Businesses have used climate and sustainability initiatives for years to make their operations and supply chains more efficient and to reduce their long-term costs. When McDonalds faced public pressure to reduce waste in the late 1980s, the company teamed up with the Environmental Defense Fund to analyze the problem. It was able to reduce its waste by 30% over the following decade, saving the company US$6 million a year. This early risk-taking by McDonalds opened the door for other environmental groups to help businesses understand how to reduce their environmental impact, including emissions, while boosting the companies profitability. Maersk, the logistics giant responsible for nearly a quarter of global shipping, has responded to pressure from its corporate customers with a plan to reduce carbon emissions by one-third from 2022 to 2030 and reach net-zero emissions by 2045. It expects the combination of low-emissions vessels and a more efficient delivery network with hubs and shuttles to help meet its climate goals while increasing productivity. Companies have also helped drive the expansion of renewable energy, motivated by the competitive economics of renewables and business opportunities. Facebooks parent company Meta and Google invested nearly $2 billion in projects to provide renewable energy in the Tennessee Valley Authority service area, even though no government required them to do so. And major companies continued signing renewable energy power purchase agreements in 2025. Microsoft and Amazon are responding to massive new power demand by trying to locate data centers near existing nuclear power plants for cleaner energy supplies. Thousands of companies report emissions via private systems Another sign of companies continuing commitment to sustainability is how many of them measure and report their greenhouse gas emissions even when governments do not require them to do so. Nearly 25,000 companies representing two-thirds of total global market capitalization and 85% of the S&P 500 report their emissions to the nonprofit CDP. Disclosing emissions is like keeping a fitness journal with a personal trainer. It helps a company track its progress and plan for future financial and environmental risks. More than 12,500 small- and medium-size companies also dislosed emissions to CDP in 2024. Many of these companies were initially motivated by pressure from environmental groups or corporate customers. Today, they have more reason to continue paying attention to emissions. California has its own formal reporting requirements designed to encourage companies to reduce their greenhouse gas emissions. And other states are considering setting climate disclosure rules. The Trump administration has promised to challenge them, and announced that it also plans to cut federal greenhouse gas reporting standards, but companies will likely still face reporting rules in the future. The European Union also has reporting requirements. It delayed their start date in April 2025 to give companies more time to comply. Cleaner supply chains can also be more efficient Managing supply chains with climate and environmental risks in mind can also help businesses increase their efficiency and reduce the risk that climate change will disrupt their operations. The supply chain is the largest source of the average companys emissions and may be particularly vulnerable to climate shocks. A storm can easily disrupt vital production or shipping, and droughts or heat waves can damage crops, stop work and increase costs. Companies estimate climate-related supply chain risks at $162 billion, nearly three times the cost of mitigating those risks. Many companies therefore have incentives to reduce emissions and their exposure to related hazards. Nearly 80% of the largest companies across seven global economic sectors had set environmental requirements for suppliers within their value chains as of 2023. These requirements include reporting carbon emissions, reducing emissions and using sustainable forestry practices. Walmart eliminated 1 billion tons of carbon emissions from its supply chain in less than seven years by sharing its expertise with suppliers and working with them to reduce their emissions. Walmarts global director of sustainable retail noted in 2024 that the effort made its suppliers more efficient, too. Keeping employees and customers happy Companies also face pressure from average people both employees and customers. More than two-thirds of Americans support action to address climate change. Even companies that are not consumer-facing need retail customer and employee support. Pro-climate actions have been found to improve employee and customer loyalty. The outdoor clothing company Patagonia ranked third out of over 300 brands in a 2024 customer experience survey, in part because of its reputation for sustainable practices. Many of the over 10,000 respondents cited the companys sustainable practices as the leading reason for their support. Many companies also face pressure from lenders and insurers who want to reduce climate risks to their own bottom lines. Dozens of insurers have committed to ending or restricting underwriting for new fossil fuel projects. Others use incentives, such as lower premiums for companies that reduce emissions or invest in climate adaptation. Climate change may accelerate the current 5% to 7% annual increase in insured losses, according to estimates from insurer Swiss Re. That has led some insurance leaders to recommend insurance companies take bigger steps to reduce emissions through their investments and policy underwriting. Private climate governance can help buy time Media attention and interest group advocacy is often focused on government actions, but decisions made in boardrooms and through initiatives with nonprofits have created an important kind of private climate governance. As companies respond to their own economic risks and incentives, they help buy time to avoid the worst impacts of climate change until the political system recognizes the financial risks posed to the entire country. Ethan I. Thorpe is a fellow at the Private Climate Governance Lab at Vanderbilt University. Michael Vandenbergh is a professor of law and co-director of the Energy, Environment and Land Use Program at Vanderbilt University. Zdravka Tzankova is an associate professor of the practice in climate & environmental studies at Vanderbilt University. This article is republished from The Conversation under a Creative Commons license. Read the original article.
Category:
E-Commerce
Sony said it will raise prices starting Monday for some PlayStation 5 video game consoles in Europe, Australia and New Zealand, citing global economic turmoil.The company unveiled the price hikes of at least 10%, saying it was a “tough decision” amid the “backdrop of a challenging economic environment, including high inflation and fluctuating exchange rates.”The recommended retail price for a PS5 Digital Edition will go up to 499 euros ($570) in Europe, according to a post Sunday on the official PlayStation blog. That’s up from 449 euros in a previously announced pricing update in 2022.In the United Kingdom, the new price will be 430 pounds ($565), up from 389 pounds previously while in Australia the price will increase to 749 Australian dollars ($474) from $649. The price in New Zealand will rise to 859 New Zealand dollars ($504).The PS5 Digital Edition is a slimmed-down version of the console that comes without a disc drive.Sony said the price in Europe and the U.K. for the standard PlayStation 5, which was released in 2020 and comes with a Blu-ray Disc drive, will remain unchanged, as will the price for the PS5 Pro version, which was released last year.U.S. President Donald Trump’s move earlier this month to impose tariffs on nations around the world has roiled global manufacturing supply chains. News on the weekend that imports of electronics like smartphones and laptops are getting a temporary reprieve until the administration figures out a new tariff approach specific to the semiconductor industry has added to the confusion for exporters. Associated Press
Category:
E-Commerce
Mauritania isnt typically a major tourist destination. But its only railway has recently become the subject of a viral TikTok travel trend: riding the Iron Ore Train. This 437-mile journey through the Sahara desert offers dramatic selfie backdropsand no shortage of controversy. @marissameizz Replying to @Atticus White STORYTIME: RIDING THE IRON ORE TRAIN IN MAURITANIA.. original sound – MARISSA MEIZZ The History of the Iron Ore Train The Mauritania Railway, or Iron Ore Train, is the countrys only rail line. Since the 1960s, it has transported iron ore from the mining hub of Zouérat to the port city of Nouadhibou. Operated by the state-owned Société Nationale Industrielle et Minire (SNIM), the train is a crucial economic lifeline for Mauritaniahauling up to 16,800 metric tons of iron ore per trip across remote desert terrain in open-air cars stretching up to two miles long. Iron ore makes up nearly 50% of the small nations exports. Why Tourists Are Drawn to the Mauritania Railway Although the Iron Ore Train includes a designated passenger car, the social media trend focuses on riding atop the loaded iron ore carspromoted online as a daring travel adventure. TikTok videos showcase sweeping desert vistas described by commenters as post-apocalyptic. The now-ubiquitous selfies show tourists in what one blogger called the uniform of ski goggles and a seche tied tightly around the head, posing amid clouds of iron dust to survive the elements. @isaacexploress A once in a lifetime experience Thank you Mauritania #ironoretrain #extremetravel #shock #richinmemories Ordinary – Alex Warren The Risks and Challenges of Riding the Iron Ore Cars Many posts highlight the journeys harsh conditionsconstant iron dust coating travelers skin and lungs, freezing nights, scorching days, and no access to food, water, or restrooms for an average of 20 hours. But instead of serving as a warning, these challenges are often framed as selling points, promoting the trip as a bucket list item or once-in-a-lifetime experience. The train offers no safety measures for those riding atop the ore cars. If a rider falls off, operators likely wouldnt knowleaving injured tourists stranded in the middle of the Sahara Desert. The Legal and Ethical Controversy As the trend has grownand as videos show increasingly unsafe behavior, including backflips on moving carsSNIM has officially banned tourists from riding on the iron ore cars. Still, that hasnt stopped social media. Influencers now share tips for evading security, bribing officials, and sneaking onto the train. Some, like Isaac Elam, even sell guides for riding illegally. Social media can be a valuable tool for discovering unique experiencesbut its important to question whos sharing this inside info. Before chasing the latest viral trend, consider the safety, legal, and ethical risks to yourself and the communities you visit. The livelihood of Mauritanias people depends on this railway. If reckless tourist behavior causes delays or shutdowns, the consequences could be far more serious than a missed photo op.
Category:
E-Commerce
All news |
||||||||||||||||||
|
||||||||||||||||||