Greenwashing

LRQA Launches "Our Planet, Our Plan" Sustainability Initiative Based on UN Goals

Published: 2023-10-10

LRQA, a leading supply chain ESG assurance specialist, has launched a sustainability initiative called “Our Planet, Our Plan” based on the UN’s Sustainable Development Goals. The initiative outlines LRQA’s internal ESG commitments over the next seven years and uses third-party data to substantiate its sustainability claims. The company will publicly track its performance through an online dashboard. The initiative is rooted in seven commitments aligned with the UN’s goals, including governance, community, environment, equity, safety, inclusivity, and education. LRQA will measure, score, and externally verify every indicator in its sustainability strategy and be transparent about its progress.

Pentagreen Capital, a Singapore-based lender backed by Temasek and HSBC, is focusing on zero-carbon infrastructure projects in renewable energy, energy storage, sustainable transportation, water, waste treatment, and the circular economy. The company is also exploring green data centers, nature-based solutions, and electric vehicle (EV) projects. Pentagreen aims to provide financing to projects that traditional debt providers are unable to support, with the goal of attracting more investments. The company applies an ESG framework to every transaction and requires borrowers to implement an environmental and social action plan. Pentagreen is also interested in blended finance and providing subordinated debt financing to infrastructure projects.

Florida Power and Light (FPL) has received a high grade in the Sierra Club’s 2023 Dirty Truth Report. FPL received a B for its commitment to retire all coal generation by 2030 and replace 35% of fossil generation with clean energy. However, the report does not consider FPL’s issues with energy injustice and the burden it places on economically vulnerable families. FPL falls short of an A grade due to a lack of energy efficiency programs. Despite this, FPL is making progress in transitioning to clean energy and plans to bring over 15,000 MW of clean energy online by 2030.

California has filed a lawsuit against major oil and gas companies, including Exxon Mobil, Shell, BP, ConocoPhillips, and Chevron, for worsening climate change and deception. The case aims to expand the damages that can be imposed on American corporations for their actions related to climate change. Similar lawsuits have been filed by other states and municipalities, but California’s case is the most significant. The lawsuit highlights the issue of greenwashing, where companies make misleading claims about their environmental efforts. This case could set a precedent for holding companies accountable for their actions and could have implications for businesses worldwide.

These news summaries highlight both positive and negative aspects of companies' environmental claims. LRQA’s sustainability initiative demonstrates a commitment to transparency and accountability by using third-party data to support its claims. By publicly tracking its performance, LRQA is taking steps to ensure that its sustainability efforts are not just empty promises. On the other hand, the lawsuit filed by California against major oil and gas companies sheds light on the issue of greenwashing. Companies that engage in greenwashing deceive consumers by making misleading claims about their environmental efforts. This lawsuit could hold these companies accountable for their dishonesty and set a precedent for future cases.

It is crucial for consumers to be aware of greenwashing and to be able to distinguish between genuine sustainability efforts and deceptive marketing tactics. Greenwashing not only misleads consumers but also undermines genuine efforts to address environmental issues. By supporting companies that are transparent and accountable in their sustainability initiatives, consumers can encourage honest practices and contribute to a more sustainable future.

As middle-aged women concerned about the world we leave for our children, it is important to stay informed and make conscious choices. We have the power to support companies that are genuinely committed to sustainability and hold those who engage in greenwashing accountable. By doing so, we can create a better future for our children and generations to come. Let’s stay vigilant and continue to demand honesty and integrity from businesses. Together, we can make a difference.

https://supplychaindigital.com/sustainability/lrqa-launches-esg-initiative-based-on-un-sdgs

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• supplychaindigital.com: LRQA launches ESG initiative based on UN SDGs
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