The Week in Sustainable Business News

The Institute of Chartered Accountants in England and Wales called for all members of the Accounting Sustainability Project to integrate climate crisis solutions into their work.

The push for companies to address climate risks is increasing demand for employees who understand sustainability, climate change, and their relationship to business operations.

Oil firms face continued pressure to find new business models. Investors remain unimpressed. Energy has been the worst-performing sector S&P 500 sector over the past 10 years due to a combination of shale drilling increasing supply and transition away from petroleum fuel affecting demand. Many companies across sectors face increased investor pressure to address carbon emissions.

Canadian mining company Teck Resources Ltd. canceled its permitting application for a multi-billion dollar tar sands mining project in Alberta. The company blamed a lack of clear climate change policy, but oil prices remain below the profitability threshold assumed by the project planners several years ago.

Norwegian oil firm Equinor abandoned plans to drill in one of Australia’s relatively undeveloped marine ecosystems. Equinor’s cancellation followed a pattern of canceled plans for drilling in the area, including BP, Chevron, and Karoon Energy since 2016.

Glassmaking companies hope growing opposition to plastic packaging can end the decades-long decline in glass packaging consumption. However, glass recylcing remains a challenge.

Indigenous protesters against a natural gas pipeline in Canada faced forced removal by Canadian police after several weeks of disrupting railroads.

Indonesia’s 2018 ban on exporting coral caused thousands of sustainable coral farms to collapse. Environmentalists fear lifting the ban will resume destructive wild coral harvesting, even if it helps the farmed coral sector.

Environmental campaigners won a court case against Heathrow airport’s plan to build a new runway. The court ruled the government must account for the Paris climate agreement in airport planning. The government plans to appeal the ruling and still supports airport expansion.

USA government laws under consideration

Links