UltraTech Cement announced the validation of its carbon dioxide (CO2) emissions reduction targets by the Science Based Targets Initiative (SBTi).
In July 2020, the Company committed to set science-based targets to reduce its greenhouse gas (GHG) emissions. UltraTech Cement commits to reduce Scope 1 GHG intensity by 27% by 2032 from the base year of 2017.
The Company also commits to reduce Scope 2 GHG intensity by 69% within the same time frame. The Science-Based Target initiative (SBTi) has validated UltraTech s GHG reduction targets which covers the target to lower its CO2 intensity in cement to 462 kg net CO2 per ton of cementitious material (net CO2/t.cem.) by 2032.
France’s AXA Drops German Power Giant RWE as a Client over Large Coal Operations
AXA SA, France’s biggest insurer, is dropping German energy giant RWE AG as a client in a decision that highlights how taboo the coal business has become.
Not even an appeal from RWE Chief Executive Officer Rolf Martin Schmitz to his counterpart at AXA, Thomas Buberl, was enough to persuade the insurer to retreat from its conviction that the utility’s coal operations are too large and it’s moving too slowly to shrink its carbon footprint, according to two people with knowledge of the matter who declined to be identified.
Ahold Delhaize successfully priced its inaugural Sustainability-Linked Bond
Zaandam, the Netherlands, March
11
, 2021 – Ahold Delhaize today announced that it successfully priced its inaugural Sustainability-Linked Bond, amounting to €600 million with a term of 9 years, maturing on March 18, 2030.
The bond was issued in accordance with Ahold Delhaize’s published Sustainability-Linked Bond Framework (the Framework), which follows the ICMA Sustainability-Linked Bond Principles. In its Second Party Opinion, Sustainalytics considers the Sustainability Performance Targets (SPTs) ambitious and aligned with Ahold Delhaize’s sustainability strategy, including alignment with a 1.5-degree temperature rise scenario and Ahold Delhaize’s leading efforts with respect to food waste reduction. The Framework and Second Party Opinion can be found here.