ESG News in Brief (28/1/2023 - 3/2/2023)

Climate change could lead to fungal infections The Wall Street Journal reported on Feb. 1 that deadly fungal infections are spreading across many parts of the United States, and that some fungi that once grew only in certain environments are now being treated as a result of climate change. These fungi are showing up in other areas as well. Deaths from fungal infections are on the rise, and the number of people suffering from serious fungal diseases is on the rise due to the growing number of people with weakened immune systems. The Centers for Disease Control and Prevention says at least 7,000 people in the United States died of fungal infections in 2021, up from about a few hundred a year around 1970.

Conservative activists are accelerating a push for public companies to disclose more about their charitable giving and partnerships with outside organizations promoting social causes.

Bank of America Corp., Levi Strauss & Co., Pfizer Inc. and Walt Disney Co. already are in the crosshairs, according to Securities and Exchange Commission filings. Apple Inc., Eli Lilly and Co. and other companies also have received conservative proposals over abortion support and civil rights, records show.

According to industry associations, every ton of plastic produced produces at least 2.3kg of carbon dioxide. Starting from carbon reduction, especially in the FMCG industry, will greatly contribute to the reduction of plastic for all. According to a report by the United Nations Environment Programme, plastic waste accounts for 85 percent of marine litter, making it the most harmful and persistent of all. As a result, the UN Global Compact hopes to cultivate and scale up market-accepted business solutions to address the ocean plastic crisis and accelerate the achievement of the 2030 Agenda for Sustainable Development. In July 2022, 19 consumer companies launched the Carbon Reduction Friendly Initiative, which aims to leverage the platform's digital technology capabilities and multiple consumption scenarios to provide consumers and the general public with a collaborative and innovative solution. The initiative aims to provide consumers and the public with a convenient, flexible and independent way to participate in low-carbon activities through multi-enterprise collaboration and innovation. After half a year of practice, the member companies of the "Carbon Reduction Friendly Action" have accumulated rich and replicable experiences in alternative material innovation, efficient low-carbon logistics and transportation, and the establishment of green mindset, further promoting the "Carbon Reduction for All" initiative of low-carbon goods, low-carbon logistics and low-carbon marketing. Carbon Reduction Action". During the event, an annual project initiated by the United Nations Global Compact - "Alleviating Marine Plastic Pollution and Facilitating Low Carbon Economic Transformation" held an online side event. The initiator of the project delivered a keynote speech at the side event, bringing the "carbon-reduction-friendly action" model and practical results to the United Nations and calling on more enterprises in the consumer sector to join in promoting low-carbon consumption."

big-dataThe report, titled ‘ESG Data for Underwriting – How (re)insurers can capture and implement ESG more effectively and lead the transition to a more sustainable economy’, revealed that there is a general lack of understanding among brokers over how their clients’ ESG data is being used by re/insurers, and that there is also a growing frustration over the lack of consistency in the way it is captured.

“Improving the quality of ESG data for underwriting is vital to enable (re)insurers to better understand the ESG risks, opportunities and impacts within their portfolios and to fulfil their critical role in leading the transition to a more sustainable economy.

Greater collaboration between stakeholders is urgently needed to standardise ESG data capture and implementation, which will in turn build greater trust and transparency between underwriters, brokers and insureds on ESG,” said Antony Ireland, Founder of Better Insurance Network.