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How well do New Zealand companies report their climate impact? Our new tracker shows very mixed results

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Interpreting corporate carbon reports may be difficult. The current, ad hoc approach to how companies share this information makes it difficult to inform whether or not they have set the appropriate goals, have realistic plans to fulfill them, or are transparent about their progress.

While there’s a legal framework in place to manage the reporting of climate and sustainability data, there are still large differences in how this data is disclosed.

We have developed the Climate Action Tracker Aotearoa (EXECUTIONER) to resolve these problems. Based on the worldwide Tracking Net Zero EmissionsCATA evaluates companies’ reports and climate plans to share and explain their climate actions.

We used a tracker to analyse 21 companies in Aotearoa New Zealand, specializing in the most important emitters and companies within the energy, retail, agriculture and transport, and banking sectors.

We assessed three features – goals, plans and reporting – by reading publicly available information provided by the corporate. These three features help us understand what the corporate is doing and intends to do to mitigate climate change.

Here’s what we discovered.

Setting goals

While most companies have 2030 targets (86%) and absolute targets (81%), only five of 21 companies (25%) have verified targets Science-Based Goals Initiative.

All but two companies cover scope 1 (emissions the corporate produces directly) and scope 2 (emissions produced not directly, similar to from electricity or the energy it buys to heat and funky buildings) – areas over which companies have essentially the most control and ownership. But in the case of scope 3 emissions, which come from business travel by plane, train and taxi, and the availability chain, far fewer companies have set such targets.

Scope 3 targets are difficult to ascertain because they involve numerous supply chain partners. However, understanding the total impact of an organization’s emissions is a crucial think about meeting the goals of the Paris Agreement.

It may be difficult for companies to trace emissions on their supply train, however it’s essential to get the total picture.
1933bkk/Getty Images

Making plans

It is in planning that differences in performance between companies begin to seem. It seems easier to set a goal than to present detailed plans for achieving it.

Some companies are doing a terrific job of making clear and reliable climate maps (Meridian Energyfor instance). However, many companies didn’t provide enough detail to know how the reductions might occur.

It is much more obscure how companies plan to make use of offsets and carbon credits.

Carbon offsetting involves reducing or avoiding emissions that may be used to offset emissions elsewhere. For example, offsetting projects might include renewable energy or energy efficiency projects.

We found that just over half of companies offset emissions or have plans to do so, with only two saying they might only offset hard-to-abate emissions.

According to Oxford University Compensation Policybest practice is to cut back these remaining emissions as much as possible and use the compensation closer to the web zero date (2050).

It is just not good that compensation is already being applied.

We also found that companies weren’t at all times transparent about their offset policies. Most of them either didn’t specify the terms of the offset or just had no terms in any respect.

Most companies haven’t clarified their approach to carbon removal (the technique of removing carbon dioxide from the atmosphere).

These carbon removal measures relied on nature (similar to planting a combination of exotic and native trees) and carbon capture and storage (CCS), and typically got here from companies that also operated overseas.

A graph showing the results of the analysis
The results of our evaluation of whether companies outsource carbon dioxide removal to us.
Author provided

This World Economic Forum Last 12 months, he outlined best practices for voluntary carbon dioxide removal.

Carbon removal has been identified as vital for difficult-to-abate emissions, to reverse the buildup of historical emissions and to deal with feedback loops in natural processes similar to forest fires.

In 2022 Ministry of the Environment also published a set of principles for carbon dioxide removal. These principles included that information have to be transparent, clearly defined and publicly available.

We found that a minority of companies were following these standards. Therefore, more transparency is required on each offsets and removals in their reporting.

Climate Action Reporting

Most companies report their carbon emissions and supply some detailed information in keeping with international standards.

At the identical time, nonetheless, many companies make it difficult to seek out and collect the info needed to obviously define what climate actions they’re taking.

We know that voluntary disclosure of knowledge about social and environmental impacts is usually a result pressure from stakeholders. But it will possibly even be used as a method to conform to those societal expectations without providing enough information.

In our research, we found a combination of conformity and subversion. Some companies provided an enormous amount of positive details about a few of their influences, some provided many reports with information scattered across them, and a few were direct concerning the information they required.

Companies should use CATA as a tool for self-assessment and reporting to be certain that they supply sufficient and transparent information to stakeholders, partners, investors and consumers.

This will enable consistency across the industry, evidence-based delivery of objectives, detailed motion plans and quick access to comprehensive, clear and concise reporting.



This article was originally published on : theconversation.com
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Business and Finance

A former Netflix marketing executive turned reality star is launching a wig brand

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Bozoma Saint John, The Real Housewives of Beverly Hills


Bozoma Saint John takes his Fortune 500 marketing skills to his own empire. The former Netflix marketing executive launched her own wig and hair care company, Eve By Boz.

Saint John, 47, has already reached historic highs in her profession. After leading the marketing departments of tech giants like Apple, Uber and Netflix, he wants to start out his own empire.

She left the favored streaming platform in 2022 after which published a memoir about how, along with her premature daughter, she lost her husband to cancer. Healing from losses, Saint Jan wants to start out a legacy that honors her past and future.

She saw a gap within the hair care industry, particularly wigs, where women of color owned businesses. Especially for products aimed toward diverse women, with the identical demographic leading the best way, the trouble was too sparse for Saint John.

“Women of color and black women don’t really have a voice in the production process, they are the ones consuming the majority of the product,” she said.

Understanding this need, she began developing her line within the spring of 2023. She attended a hair show in Guangzhou, China, with a hair stylist to attach with vendors. She traveled across the continent to learn more about sourcing products.

After doing her homework, Saint John decided to speculate in herself and lift money to launch her wig enterprise. She’s put about “a few million” into the business, but she has the knowledge to succeed.

“I’ve worked for big enough companies and I have a lot of inventory in a lot of places,” she explained. “It’s time to reinvest in myself and that is exactly what I made a decision to do. Besides, I can have total control. I don’t need anyone telling me what to do.”

Saint John’s is changing the sport by offering additional lace colours for wigs. Diversifying color decisions will higher serve customers of all skin tones, which also stays a priority for Saint John.

“I don’t want to go on YouTube or Google and watch 14 million videos of black women and women of color working in kitchen pharmacies dyeing lace to match their skin,” she says. “My intention is for other companies to see the success of this company and follow suit.”

Eve By Boz will premiere in Saint John’s other project, an entry as a solid member on “The Real Housewives of Beverly Hills.” While it’s a coincidence, Saint John welcomes the eye for a product he considers a winner. The 171-piece Eve By Boz collection is now available exclusively on her website.


This article was originally published on : www.blackenterprise.com
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Business and Finance

Average homebuyers are now the oldest and wealthiest in history

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AND latest report details the grim reality in which America goes on to tackle the housing shortage and financial obstacles for people wanting to own a house. According to the National Association of Realtors, homebuyers are older and wealthier than ever before, and the average age of homebuyers is at an all-time high.

The median age of buyers rose to a high of 56, up from 49 in 2023. The median age of first-time buyers rose to 38 from 35 in 2023, and the age of repeat buyers rose to 61 from 58 in 2023.

“Highlighting the barriers to entry into the housing market, the average age of first-time homebuyers has hit an all-time high of 38. In the 1980s, the typical first-time homebuyer was around 20 years old,” the report said.

But age is just not the only factor that has increased. It can be the average income of buyers.

“Over the past two years, first-time home buyer household incomes have increased by $26,000. “This year’s report shows that the median household income for first-time homebuyers was $97,000,” the report said.

The racial gap for homebuyers is growing

Unfortunately, there continues to be a racial gap between white and black homeowners.

“Overall, 83% of buyers were white/Caucasian, up from 81% last year,” the report said. Only 7% of recent buyers identified as black/African American.

According to A report mortgage lending to Black Americans declined by 16% in 2022. Mortgage denial rates, nonetheless, increased by 2.6 percentage points.

The report reveals one other dramatic change: buyers with children are less more likely to purchase homes.

Of all homebuyers, 62% are married couples, 20% are single women, and 8% are single men. The percentage of buyers with children under 18 dropped to the lowest level and amounted to 27% of all buyers.

The report shows that multi-generational housing stays popular, with the highest percentage ever of individuals purchasing a house that may accommodate multiple generations at 17% of all buyers. The commonest reasons are savings, elder care and the return of young adults.


This article was originally published on : www.blackenterprise.com
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Business and Finance

Cryptocurrency is rising after Trump’s election

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Cryptocurrency surges following the election of Donald Trump as President of the United States of America; although he was already on the rise, its momentum is upwards on account of the market’s interpretation of Trump’s guarantees around cryptocurrency.

According to , although no political party fully trusts cryptocurrencies, Trump has positioned himself as president of cryptocurrencies.

The Republican Party has followed Trump’s lead in fully embracing digital currencies.

In a video he posted on social media in August, Trump promised that the United States can be the cryptocurrency capital of the world.

“This afternoon I’m unveiling my plan to make sure the United States is the crypto capital of the planet. They need to strangle you. They need to put you out of business. We won’t let that occur,” Trump said within the video.

“They” is unclear, but with Elon Musk within the ear, the cryptocurrency industry will likely receive favorable policy proposals in the subsequent iteration of the Trump administration.

The market seems to suggest that the longer term president and the strong support for cryptocurrencies from certainly one of his key advisors is a great development for cryptocurrency investors.

Indeed, in keeping with Susannah Streeter, director of cash and markets at investment research firm Hargreaves Lansdown, the market is experiencing “euphoria” after the election.

“His (Trump) pledge to go all out on crypto has sent Bitcoin to new, stunning heights,” Streeter said in a research note published on November 11.

Streeter continued: “He has made a comeback in supporting the industry and now vows to show the United States into the crypto capital of the world. Bitcoin speculators are betting on a more lenient regulatory environment and expect authorities could create a crypto reserve fund, helping boost sustained demand.

In a previous research note, Streeter also noted that “Investors should only dabble in cryptocurrencies with money they may be prepared to lose. Because we have seen these wild swings previously.

According to the Associated Press, Trump did too promised to remove Gary Genslerhead of the Securities and Exchange Commission.

Gensler has been critical of the cryptocurrency in his role, prompting the federal government to crack down on it and calling for greater oversight of the extremely volatile digital currencies.

In October, Gensler criticized the cryptocurrency field generally during a discussion at New York University School of Law.

“We try to enforce the law as it stands… This is an area where there are a lot of scammers, a lot of scammers and a lot of scams,” Gensler said.

Mauvis Ledford, CEO of Sogni AI, a Singapore-based technology startup, said the Trump administration they might adopt cryptocurrency to spice up economic growth.

“It is likely that the Trump administration may explore the use of blockchain technology to increase transparency and efficiency in government operations, particularly with Elon Musk in an advisory role,” Ledford said. “There could also be initiatives to promote the adoption of cryptocurrencies to stimulate economic growth and attract technology-enabled investment.”

However, Ledford also has reservations about how far Trump will go in favor of digital currencies.

“But I personally don’t believe anything Trump says, and blockchains actually allow for the creation of rules that everyone has to follow, which I don’t think Trump particularly likes about the government he runs.”

Ledford noted that cryptocurrency is rising in popularity, which should help legitimize it as more technological barriers are erected.

“Large corporations are integrating crypto payments, and advances in blockchain technology are making transactions safer and efficient. Additionally, regulatory frameworks are evolving that might provide greater stability and legitimacy within the cryptocurrency market.


This article was originally published on : www.blackenterprise.com
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