The implementation of this mandate was delayed amid the Covid-19 pandemic. Some developers set their own biodiversity net-gain targets out for some or all developments, but others have been waiting for the mandate.

This week, the Department for Food, the Environment and Rural Affairs (Defra) has confirmed that the mandate will come into effect for all large domestic, industrial, commercial and mixed-use sites from November 2023. It applies in England only.

The mandate will not come into effect for smaller sites until 2024, with Defra having heard evidence that local authorities and very small developers, in particular, are not yet prepared for the mandate due to the fallout of the pandemic. This is a move that has disappointed some environmental groups.

Regardless of site size, developers will need to deliver – and prove they have delivered – a minimum uplift of 10% in the amount of biodiversity at the site, relative to its biodiversity prior to their intervention.

To secure planning permission for any development, developers will need to create a biodiversity gain plan to be submitted with their planning application. They have to guarantee management of the biodiversity at the site for a minimum of 30 years. Where habitat is impacted within the project boundary, developers will need to replace it with habitat of equal or better biodiversity, and of equal or greater size.

The Government will permit, in some cases, the delivery of net-gain through improvements off of the site. Developers will need to purchase credits before commencing work at the site and, in this case, the Environment Bank assumes liability for biodiversity management for the 30-year period. The credit scheme is still in development and Defra has stated that this approach should be used “as a last resort”. Funding raised through credits will be invested in habitat creation schemes spearheaded by the Government.

In addition to confirming the timelines for implementation and rules on onsite and offsite work, Defra announced £16m of funding to help expand and upskill planning teams at local authorities. Councils will be invited to apply for a share of the funding in the coming weeks.

Last month, the UK’s post-Brexit environment watchdog, the Office for Environmental Protection (OEP), warned that the nation is on course to miss every key nature and environmental policy target. It cited particular concerns about species abundance.

Defra subsequently published an updated Environmental Improvement Plan, setting out key short-term and mid-term targets on issues including biodiversity, water quality and soil quality. There is debate about how much of the Plan is new (both in terms of funding and targets), but Defra maintains that it is “pioneering”.

Green economy response

Responding to Defra’s decisions, the UK Green Building Council’s director of communications, policy and places Simon McWhirtier said they are “broadly encouraging” and in line with the sector’s advice.

“Decisions to include brownfield sites, to legislate to further protect irreplaceable natural habitats, and to prevent duplicating the recording of biodiversity net-gain and carbon offsets will be welcomed by our members,” he elaborated.

“However, by extending the transition period for small sites until April 2024, the Government risks removing up to 100,000 developments a year from the scope of biodiversity regulations – impeding nature’s recovery instead of supporting the industry with the clear, stable demand called for by Chris Skidmore MP to secure green growth.

“The Government has also missed the opportunity to outline how biodiversity net gain could develop into the broader concept of ‘environmental net gain’ that would integrate and deliver the wider social benefits of nature-positive built environments.”

Levelling Up Secretary Michael Gove has stated that the biodiversity net-gain requirement will complement the Levelling Up and Regeneration Bill. The Bill is currently in the Committee Stage in the House of Lords.

Related article: Can Defra end its ‘culture of delay’ in 2023?

SCROLL DOWN TO TAKE THE SURVEY

The 10-minute online survey is primarily targeted at in-house sustainability/CSR/energy leaders and managers who hold some level of responsibility for their organisation’s strategy in these areas. This year’s survey has a particular focus on leadership and skills, and on sustainable finance – two critical areas for the future of green business.

The results of the survey will be curated into a full report which will be published as part of edie’s Business Leadership Month – a bumper month of thought-leadership discussions, exclusive interviews and authoritative reports, all dedicated to dedicated to empowering, connecting and celebrating the individuals and teams who are changing business, for good. You can read last year’s Business Leadership report here.

As an added incentive, all survey respondents have the opportunity to be entered into a prize draw to receive a free pass to edie 23 – the premier annual event for sustainability and net-zero leaders taking place on 1-2 March – along with the edie Awards ceremony which takes place on 30 March.

All individual responses will be kept anonymous.

This survey will close on the evening of Wednesday 22 February.

The 2023 Sustainable Business Leadership Survey

Skidmore, Polman and Wathuti will be joined by the likes of Pukka Herbs’ chief executive Anuradha Chugh and Committee on Climate Change Chair Lord Deben for edie 23, which takes place at the state-of-the-art 133 Houndsditch events venue in London on 1-2 March 2023.

Force of Nature Founder and leading youth climate activist Clover Hogan, Leon Restaurants Co-Founder Henry Dimbleby, Earth on Board Founder Philippe Joubert and We Mean Business Co-Founder Steve Howard are also confirmed among the high-level speaker line-up.

Sustainability and energy representatives from the likes of Google, Patagonia, innocent Drinks and Sky will also take to the stage alongside NGOs, climate activists and other inspirational speakers to provide delegates with rousing and insightful discussions to empower long-lasting change.

An evolution of the multi-award-winning Sustainability Leaders Forum, edie 23 is the premier annual event dedicated to achieving environmental and social transformations through courageous business leadership. edie 23 will offer up two full days of keynotes, panels, best-practice case studies and audience-led discussions across three themed stages – Strategy, Net-Zero and Action.

These sessions will be delivered alongside an array of interactive and immersive event features, including an informal “mess up night” to discuss some of the times that sustainability initiatives didn’t go to plan, a series of “#SustyTalk Live” sofa discussions, and a “25th Birthday Party” to celebrate edie’s 25th anniversary as the UK’s industry-leading sustainable business media brand.

We are also partnering with leading mental health and wellbeing platform MyMynd to help you manage your mental health and prioritise the wellbeing and energy of yourself and your colleagues. MyMynd will offer group workshops and private, one-to-one consultations during the event.

The event is underpinned by a pioneering Mission Statement. The Statement includes an industry-leading commitment to speaker diversity and inclusivity, a strict no-greenwashing policy and a laser-like focus on sparking new ideas and trackable actions through the event content.

edie 23 is expected to be at full capacity, with more than 600 business leaders, board-level executives, sustainability, ESG and net-zero decision-makers, finance, communications and procurement experts, NGOs, academics, consultants, tech providers, and entrepreneurs expected to attend the event in March.

Find out more about the event here and secure your place here.  

Action on methane is increasingly being recognised as crucial to limiting the global temperature increase. Methane is an extremely potent greenhouse gas in terms of its global warming potential, with the IEA attributing almost one-third of the increase in global temperatures since the Industrial Revolution to the gas.

The good news is that methane has a short lifespan – its atmospheric life is only around 12 years, compared with decades or even centuries for many other greenhouse gases. As such, reducing methane emissions could bring about climate mitigation results fairly swiftly; this is the premise of the Global Methane Pledge signed by more than 150 nations. The Pledge commits nations to a 30% reduction in methane emissions between 2020 and 2030. 

The IEA’s new tracker confirms a slight increase in methane emissions from energy year-on-year, with the total in 2022 standing at 135 million tonnes. Coal, oil and natural gas operations are each responsible for around 40 million tonnes of these emissions, with the remainder accounted for by incomplete combustion of biomass and from leaks from end-use oil and gas equipment.

Record high methane emissions from the energy sector were tracked by the IEA in 2019, when the total stood at just over 135 million tonnes.

The Agency has chided the sector for not cutting methane emissions more steeply in recent years, given that the technologies needed to take action are available and are cheaper than ever to implement. It questions why energy majors are not setting aside “only a fraction of their bumper income from the energy crisis” to tackle methane emissions, estimating that 3% of the income generated by oil and gas companies worldwide during 2022 would be needed to deliver a 75% reduction in methane emissions from oil and gas.

According to the IEA, around 70% of methane emissions from fossil fuel operations could be reduced with existing technologies. Its tracker report sets out interventions such as leak detection and repair programmes, equipment upgrade and methane utilisation at coal mines. The most impactful intervention, the tracker states, would be halting all non-emergency flaring and venting of methane. It states that three-quarters of the methane that was not emitting due to lower venting and flaring levels could be retained.

The interventions suggested would cost $100bn to implement.

“Based on average natural gas prices from 2017 to 2021, we estimate that around 40% of methane emissions from oil and gas operations could be avoided at no net cost because the outlays for the abatement measures are less than the market value of the additional gas that is captured,” the tracker emphasises.

Commenting on the tracker’s findings, IEA executive director Fatih Birol said: “Our new Global Methane Tracker shows that some progress is being made but that emissions are still far too high and not falling fast enough – especially as methane cuts are among the cheapest options to limit near-term global warming. There is just no excuse… normal oil and gas operations around the world release the same amount of methane as the Nord Stream explosion every single day.”

The report also emphasises that, ultimately, fossil fuel extraction and use will need to decrease in the coming decades to reach global climate goals. It highlights the importance of rolling out clean cooking and modern heating in developing and emerging economies, and of electrifying cooking at heating in wealthy economies, as a priority action.

Industry response

Responding to the tracker is the Oil and Gas Climate Initiative (OGCI), comprising 12 of the worl’s largest oil and gas firms, collectively representing 30% of global production.

OGCI executive committee chair Bjorn Otto Sverdrup, formerly of Equinor, said: “The IEA is right to point out that there’s a huge opportunity to cut methane emissions from the oil and gas sector and much of the technology to do that already exists.”

He added that the Initiative’s members “have already collectively reduced upstream methane emissions by 40% since 2017” and are urging peers to follow suit. The Initiative, he said, wants to “shift the industry’s mindset to treat emissions of the gas as seriously as the industry treats safety.”

The tracker revealed that, far from cutting methane emissions on an absolute basis, most oil and gas organisations are not even cutting methane intensity significantly. It confirms a 5% fall in the global average methane intensity of oil and gas production.

Stop Rosebank campaign 

The publication of the report comes as we await the UK Government’s final decision on the Rosebank oil field off the coast of Shetland.

Equinor acquired ownership of Rosebank, considered to be the largest undeveloped field in the North Sea, in 2019. It holds a majority stake in the project and the other stakeholders are Suncor Energy and Ithica Energy. Equinor has touted the job development potential of the field and stated that the project could be delivered in line with the UK Government’s 2050 net-zero target.

This is despite the fact that the IEA’s global 2050 net-zero scenario entails the development of no new oil and gas extraction capacity, beyond what was agreed pre-2021. Moreover, the UK Government’s Climate Change Committee (CCC) has recommended a “presumption against exploration” for new oil and gas extraction capacity.

With this in mind, the project has faced fierce opposition from climate campaigners and public figures. The Stop Rosebank campaign is this week sending an open letter to the Prime Minister, signed by 200 organisations including charities such as RSPB, WWF Norway and Oxfam. Also signing the letter are comedians Frankie Boyle and Aisling Bea.

The letter highlights the climate impact of fields like Rosebank, but also calls into question the touted socio-economic benefits. It emphasises that the project is being overseen by Norwegian, Canadian and Israeli firms, with 80-90% of oil likely to be exported. It highlights how the developers will benefit from taxpayer subsidies, despite recording bumper pre-tax profits due to high wholesale energy prices.

“Why we’re subsidising Rosebank’s development to the tune of half a billion pounds, when [its developers] clearly don’t need the cash and there are plenty more worthy causes, is a mystery,” said Frankie Boyle.

The report concludes that a mix of inflation, interest rates, supply chain difficulties, as well as increased competition from abroad, mean international investors are reconsidering where to allocate capital.

Additionally, it takes aim at the proposed Electricity Generator Levy (EGL), which it describes as a “poorly designed windfall tax”, and says it has “caused immediate concerns for the viability of new clean energy projects, particularly renewables”.

These factors have meant that overall costs for new low-carbon generation have increased by 20-30% and as much as 50% for some projects.

“These cost increases are compounded by systemic regulatory uncertainty, and lengthy delays to planning and grid connections which hold back new projects from being built quickly,” it added.

The trade body’s analysis reveals that failing to address these issues means the UK economy could lose out on £62bn of investment between now and 2030, leading to a shortfall of 54GW of potential wind and solar capacity and higher energy bills for consumers.

Despite the gloomy outlook, the report says it is not too late for the government to enact policies that can “safeguard the UK’s role as a clean energy superpower” and that a serious revaluation of current policy is required.

“With the Spring Budget approaching, an immediate rethink of fiscal policy is needed to secure the potential capacity that is – at this very moment – under threat. Without this action, we will lose near-term investment crucial to achieving our energy security and net zero targets,” it adds.

To this end, the report makes a number of recommendations for the government including a rethink of the EGL to make it more consistent with the Energy Profits Levy for oil and gas production.

It highlights how the draft EGL legislation would lead to oil and gas extraction facing a lower rate of effective tax than low-carbon generators.

It adds: “The preferential treatment given to the oil and gas sector through the investment allowance in the Energy Profits Levy sends the wrong signal to investors.

“Should the government choose not to offer an investment allowance, it is critical that changes to the tax regime are prioritised to incentivise new investment, such as changes to the Capital Allowances Regime.”

Elsewhere, the trade body wants to see the capacity of future Contracts for Difference (CfD) allocation rounds increased to support more generation.

This has been made more urgent by the EGL which it says has effectively redirected projects that may have pursued a merchant route to market toward CfDs.

“Unless we fully maximise the capacity from these allocation rounds, there is a strong likelihood that the UK will lose prospective renewable capacity,” it adds.

Energy UK’s chief executive Emma Pinchbeck said: “As we look to emerge from an energy crisis that has caused huge difficulties for customers, businesses and the wider economy, both the government and the energy industry have been absolutely clear that the answer lies in rapidly expanding our own sources of clean, cheap power and escaping dependence on expensive fossil fuels that has cost us dearly in recent times.

“However, the UK is in increasing danger of undermining its own ambitions and failing to deliver on its commitments. In many ways, the UK has led the way in the transition to clean energy – witness our world-leading offshore wind industry – but we risk squandering this position and driving the investment that we need elsewhere.

“We are at a pivotal point right now with other countries actively trying to attract the same companies and investors and it would be unforgivably complacent to think that we don’t need to do the same.”

Responding to the report, a government spokesperson said it has “consistently attracted investment in renewables”.

The spokesperson added: “Since 2010, the UK has seen more than a 500% increase in the amount of renewable electricity capacity connected to the grid while through Contracts for Difference we have awarded contracts totalling almost 27GW of new low-carbon capacity to date.

“We are consulting on reforms as part of the Review of Electricity Market Arrangements, including changes to the wholesale electricity market that would stop volatile gas prices setting the price of electricity produced by much cheaper renewables – cutting the cost of electricity for consumers in the long term and providing certainty for investors.”

Adam John

This article appeared first on edie’s sister title, Utility Week

The majority of respondents, nine in ten, believe that the sector will not reach net-zero carbon emissions by 2050 – the Government’s legally binding deadline for delivering a net-zero economy.

This is perhaps to be expected. The Climate Change Committee’s most recent annual progress report to Parliament confirmed that policymaking in virtually all sectors is not sufficient to deliver net-zero within legally binding target parameters. The Committee highlighted buildings as a particular point of green policy weakness, largely due to poor action to improve energy efficiency and scale-up low-carbon heating options.

The report from the BPF sets out a string of interventions the sector would like to see from the Government in order for companies to reach their own net-zero targets – many of which are more ambitious than the nationwide target.

It bears noting that the BPF found a widespread willingness to tackle embodied carbon – the carbon generated upstream through construction and materials – as well as operational emissions. The report recommends the introduction of mandatory life-cycle assessments for businesses across the built environment lifecycle, improving data on embodied carbon. It also states that the sector would support embodied carbon reduction targets from the Government, building on voluntary frameworks and tools like those offered by the World Green Building Council and UK Green Building Council.

Several other recommendations concern investment in renewable energy to reduce the operational emissions of buildings. The report advocates for the removal of barriers currently preventing Real Estate Investment Trusts from investing in off-site renewables, by broadening the asset classes they are entitled to invest in. It also comes out in favour of rules to mandate the instillation of solar panels on large residential, commercial and public buildings.

Solar mandates seem to be picking up speed across Europe. Last October, Ireland confirmed plans for a new grant scheme to support all schools to fit rooftop solar. Then, in November, the French government outlined a new mandate for solar panels on all large car parks.

PowerMarket estimates that if just 5% of the UK’s suitable roof space on commercial buildings were covered with solar installation, businesses would collectively save £12.6bn on annual energy costs.

Data sharing and planning reform

 Another recommendation made in the report are new mandates to facilitate the sharing of energy consumption data between the owners and occupiers of large commercial buildings. This lack of information and engagement provided between the two parties often means that occupiers and owners are not on the same page when it comes to decarbonisation, thus blocking progress.

There is, on a broader basis, the recommendation of a thorough assessment of how the current planning system is hampering the net-zero transition. The report highlights not only outdated rules – and some newer rules which seem to prioritise short-term economic growth above all else – are the problem, but also misalignment and under-resourcing across the planning system.

Much of this echoes the conclusion of Chris Skidmore MP’s Net-Zero Review. The Review calls for a planning system assessment to get underway this year. It also recommends that the Government backs at least one ‘Trailblazer Net-Zero City’, to achieve net-zero operational carbon emissions by 2030.

Reflecting on the BPF research findings, the Federation’s president Guy Grainger said: “There is no denying that the real estate industry is committed to net zero, with pledges being made at a global, national and local level, but these pledges need to be turned into credible action.”

Grainger, also global head of sustainability services and ESG at JLL, added: “Without clear incentives and regulation from Government we will continue to fall short of targets. The report highlights the insight we can garner when we collaborate and this collaboration, along with Government support is critical.”

Energy Security and Net-Zero Secretary Grant Shapps has stated that focus areas of the Taskforce will include investment, skills and product supply and innovation.

Lord Callanan will be the co-chair of the Taskforce from within the Government, it has been confirmed this evening (20 February). Callanan has been a member of the House of Lords since 2014 and, in early 2020, he was appointed Parliamentary Under-Secretary at the Department for Business, Energy and Industrial Strategy (BEIS). He has this month been transferred into the same post at the newly-created Department for Energy Security and Net-Zero.

Last year, Callanan said he “entirely accepted” criticisms of the Conservative Government’s track record on improving energy efficiency in homes. The UK plays host to one of the least energy-efficient building stocks in Europe but various national schemes, including the Green Deal and Green Homes Grant, failed to deliver their full impact due to flaws in design and execution.

Co-chairing the Taskforce alongside Callanan will be Alison Rose, the chief executive at Natwest. Rose has worked at the banking group for the best part of three decades, working her way up from graduate level. She has been chief executive since 2019.

Under Rose, Natwest committed to at least halve the climate impact of financial activities and decisions by 2030 and to achieve net-zero by 2050 at the latest. It subsequently pledged £100bn for sustainable funding and financing for the five-year period between 2020 and 2025, including green mortgages and new finance products for retrofitting.

Commenting on her Taskforce appointment, Rose said: “Addressing the climate crisis is a team sport, and building vital partnerships between the public and private sector is the key to tackling this challenge at pace.

“Improving energy efficiency will not only drive a lower carbon environment, but also deliver greater economic security through lower bills for people, families, and businesses right across the UK.”

There is currently no further information on Taskforce membership beyond that of the two co-chairs. We can expect more information in the coming weeks.

Green growth focus

Rose and Callanan’s appointments will be amplified at a Treasury Connect event in East London on Tuesday (21 February). The event will convene almost 100 representatives from firms in low-carbon sectors such as the manufacturing of energy-efficiency products. The Government has stated that the purpose of the meeting is “to gather up the best ideas for driving growth” in these sectors.

Official government statistics released this month confirmed that the number of UK-based jobs in low-carbon and renewable energy sectors in 2021 was almost 40,000 higher than in 2020. The Office For National Statistics confirmed the UK hosted some 247,400 full-time equivalent roles in 2021, up from 207,800 in 2020.

This is a new record, but the UK still is not on track to host two million green jobs by 2030, as pledged by the Conservative Party under Theresa May.

The ONS also confirmed a 30.8% year-on-year increase in turnover between 2020 and 2021, to £54.4bn. Energy-efficient products accounted for more than one-third (36%) of turnover in 2021.

Our panel of 25 expert judges convened in late 2022 for a full day of judging where they whittled down almost 500 entries to a shortlist of around 200 finalists across 24 categories. This includes new categories such as the Net-Zero Innovation of the Year alongside returning favourites such as Partnership & Collaboration of the Year, and the coveted Lloyds Bank Sustainable Business of the Year.

The shortlist of finalists was revealed back in December, via a video and news piece on the edie website. Now, ahead of the Awards Ceremony on 30 March, we have published this free-to-download report providing more information about every shortlisted entry. Click here to download your copy. 

The Sustainability Leaders Awards ceremony, which will reveal our winners, takes place as an in-person event at the Park Plaza London Westminster hotel on Thursday 30 March 2023. Table bookings are now open and can be made here (premium tables are limited).

Commenting on the announcement of this year’s finalists, edie’s content director Luke Nicholls said: “COP27 and COP15 have underlined just how important business leadership is when it comes to accelerating climate action and reversing biodiversity loss.

“Nowhere is this leadership more evident than on our edie Awards shortlist. Despite battling through the perfect storm of Covid-19, conflict and the cost of living crisis, all of this year’s finalists have shifted from talking about a net-zero carbon, just transition to actually delivering it – at scale and at pace. On behalf of the entire edie team, I would like to congratulate all of our finalists – we can’t wait to celebrate with you on 30 March at the Park Plaza London Westminster.”

— CLICK HERE TO DOWNLOAD YOUR COPY OF THE EDIE AWARDS 2023 FINALISTS REPORT — 

BOOK YOUR TABLE at the edie Awards 2023

From single places for the drinks reception and dinner through to a full Platinum Table front-row experience – there are a variety of options to choose from to ensure you are able to celebrate with the very best of sustainable business at the edie Awards 2023.

Our glittering Awards ceremony takes place at Park Plaza London Westminster on Thursday 30 March 2023, and will include drinks receptions, guest speakers, dinner and a wide selection of entertainment. Avoid disappointment by booking now to guarantee the tickets you want.

BOOK YOUR TABLE HERE.

IFRS S1 is designed to apply globally, to corporates in all sectors. It has been described as the “core baseline” of sustainability reporting, attempting to better unify disclosures on factors such as waste and emissions. It also sets out how companies can integrate reporting, linking sustainability-related and financial information.

IFRS S1 also sets out plans for companies to disclose all material sustainability-related risks and opportunities.

IFRS S2, meanwhile, is more detaied in regard to specific topics – particularly climate mitigation and climate adaptation. It is designed to build on existing disclosure frameworks in this field, chiefly the Taskforce on Climate-Related Financial Disclosures (TCFD).  

While the EU is proposing mandatory “double materiality” impact reporting for big businesses – imploring them to report on their impacts on people and the environment, plus the risks and opportunities that external changes could bring – the ISSB is taking a different approach. Its chief focus at present is enterprise value, which entails getting a deeper understanding of the link between sustainability and company valuation.

“We responded to capital market and G20 demand for a common language of investor-focussed, sustainability-related disclosure, working diligently to deliver standards that fulfil the global baseline,” said ISSB chair Emmanuel Faber.

The ISSB is expected to issue IFRS S1 and S1 by the end of the second quarter, making June the likely issuance date. It is intending to make the standards effective from January 2024, meaning that we will likely see the first corporate reports aligned with the standards in 2025.

Voluntary adoption will be likely in the first case, and some nations and regions may opt for mandatory disclosures in time.

“Given [that] sustainability disclosure is new for many companies globally, the ISSB will introduce programmes that support those applying its Standards as market infrastructure and capacity is built,” the Board said in a statement. But it acknowledged that, in some markets like the EU, disclosure is less new – so there is a need to align with and streamline existing standards.

Commenting on the news, KPMG’s global head of audit Larry Bradley said: “The proposed effective date of 1 January 2024 is ambitious, but – importantly – it’s aligned with the EU timetable, so some companies may adopt on this date regardless of local requirements. It still remains for jurisdictions to decide whether to enforce this date. But the transition provisions, such as not requiring Scope 3 GHG emissions reporting in the first year of adoption, should smooth the path for companies.

“The good news is that companies are going to be explicitly allowed (but not required) to use metrics from GRI and ESRSs where they are useful to investors and there is no equivalent IFRS sustainability standard. This demonstrates a level of pragmatism and a keen awareness of the need to balance cost and benefit for as many companies as possible. However, companies already reporting under GRI won’t be able to simply cut and paste swathes of disclosures, because they will need to apply the ISSB’s investor-focused materiality lens. For companies reporting under multiple frameworks, this will make reporting less challenging.”

The ISSB was first proposed by the not-for-profit International Financial Reporting Standards Foundation (IFRS Foundation) in early 2021, and launched later that year. Its aim is to unify disclosures from corporates, helping investors and other stakeholders to properly compare their sustainability performance and related risks. One year on from its formal launch, in November 2022, CDP confirmed that it will incorporate IFRS S2 into its platform.

Related feature: Why harmonising climate disclosure standards will be crucial in 2023 

Learn how to take your sustainability reporting to the next level at edie 23

Taking place in London on 1-2 March 2023, edie’s biggest annual event has undergone a major revamp to become edie 23, with a new name, new venue, multiple new content streams and myriad innovative event features and networking opportunities.

edie 23 will take place at the state-of-the-art 133 Houndsditch conference venue in central London. Held over two floors, the event will offer up two full days of keynotes, panels, best-practice case studies and audience-led discussions across three themed stages – Strategy, Net-Zero and Action. We have several sessions dedicated to sustainability-related disclosures.

Click here for full information and to book your ticket.

For example, Sylvester Bamkole from CDP will be appearing at 4.20pm on 1 March as part of a seminar on ‘how to create a winning sustainability report’, chaired by former International Integrated Reporting Council (IIRC) chief execurive Richard Howitt.

Also on 1 March, we’re hosting a briefing on ‘unscrambling the alphabet soup of ESG reporting’; a case study on Seventh Generation’s sustainability disclosures and a panel on ‘navigating the wild west of ESG standards’.

EV100 has today (20 January) published its latest annual progress and insights report, confirming that it has 127 members that now collectively operate 400,000 EVs – 93% more EVs than were covered by the initiative 12 months ago.

This growth was not driven purely by an increase in members, with just seven new companies coming onboard since the last annual report. Rather, the Climate Group is pointing to more favourable policy landscapes in several key markets, enabling corporates to accelerate deployment.

Member companies leading the way in EV deployment include AstraZeneca, Siemens and Leaseplan. Also in the top ten are Ikea’s parent company Ingka Group, FMCG giant Unilever and consulting behemoth Deloitte.

At present, most of the EVs deployed are concentrated in Europe, which represents eight of the top 10 markets for deployment. The UK hosts more than 15,000 EVs deployed under EV100, while France hosts more than 8,800. For context, around 2,400 EV100 EVs are operating in Japan and 1,400 in the USA.

India is also a major EV100 market, with the second-highest level of corporate EVs deployed to date (more than 10,600) and the highest level of corporate fleet commitments. Should all EV100 members reach their EV deployment targets in time, more than 5.7 million EVs will be operational in their fleets by 2030. More than 169,000 of these will be based in India, and more than 104,500 in the UK.

Charging ahead

As has been the case with previous EV100 reports, this year’s edition tracks several key challenges remaining on the road to corporate fleet electrification, including charging infrastructure deployment.

It confirms that charging point installation by member firms has once again been outpaced by EV adoption, with charging stock up 44% year-on-year but vehicle numbers up 93%. Nonetheless, there has been an acceleration in charging point deployment. EV100 members now collectively host more than 30,000 individual charging points. The leading charging point deployer has been Tesco, with 520 locations now covered. In second place in Ingka Group, which boasts chargers in 405 locations.

The report also documents ongoing challenges in EV100 member procurement of a diverse range of vehicles. While there are many pure electric cars and vans available, selections are smaller for medium-duty, heavy-duty and specialist vehicles. To that end, the Climate Group recently launched a spin-off EV100+ initiative focused on vehicles larger than 7.5 tonnes. Founding EV100+ members are Ingka Group, Unilever, JSW Steel, DPD and Maersk.

The Climate Group’s director of transport Sandra Roling said: To limit global temperature rises to no more than 1.5C, far more vehicles need to switch to electric.

“To support this, charging infrastructure must be built out rapidly and manufacturers must expand the volume and variety of vehicles on the market. Governments need to provide clear direction in the form of phase-out dates, supported by measures such as zero-emission vehicle (ZEV) mandates and CO2 standards.”

Lloyds Banking Group’s managing director for transport, Nick Williams, elaborated on EV100 policy asks in the UK. He said: “If we want the UK to truly lead the way in EV ownership, removing the barriers to convert to new EVs must be a priority focus for both government and industry moving forward.  Increased accessibility and availability of charge points in towns and cities right across the UK will be essential, alongside affordable charging units and tariffs at home.”

Williams added: “Support beyond 2023 is required for a fairer road taxation system that incentivises on removing the older, more polluting vehicles from the UK’s roads, while also supporting demand in the growing second-hand EV market.”

Through his Autumn Statement late last year, Chancellor Jeremy Hunt laid the foundation for changes to road, fuel and vehicle taxation that account for the EV transition. He stopped short of confirming a road pricing scheme at this stage but this may well be the longer-term plan. His plans to bring taxation on EVs in line with ICE vehicles from 2025, however, proved unpopular, with many saying it would hike upfront costs just as motorists need them to come down. Chris Skidmore’s Net-Zero Review recommends a thorough review of all taxes this year.

The publication of the EV100’s report comes as the EU is progressing with plans to end the sale of new petrol and diesel cars across the bloc by 2035. It is also setting out requirements for a 55% reduction in CO2 emissions for new cars sold from 2030, with a 2021 baseline.

Final approval is expected in March, but we can expect fierce pushback from some member states, including Italy.

Join the EV debate at edie 23 

Taking place in London on 1-2 March 2023, edie’s biggest annual event has undergone a major revamp to become edie 23, with a new name, new venue, multiple new content streams and myriad innovative event features and networking opportunities.

edie 23 will take place at the state-of-the-art 133 Houndsditch conference venue in central London. Held over two floors, the event will offer up two full days of keynotes, panels, best-practice case studies and audience-led discussions across three themed stages – Strategy, Net-Zero and Action.

We are also hosting a range of workshops, including a workshop on net-zero transport and sustainable mobility on the afternoon of Day One (1 March). The workshop will be chaired by Claire Haigh, founder and CEO of Greener Vision, who will be joined by Tim Anderson, group head of transport at EST.

Click here for full information and to book your ticket.

The IEA released a policy report late last week, confirming that global subsidies for natural gas were more than twice as high in 2022 than in 2021. $346bn of subsidies were provided, compared with $141bn the year prior.

Oil subsidies, meanwhile, were 85% higher in 2022 than 2021, standing at $343bn compared with $187bn.

Coal subsidies tripled year-on-year, from $3bn to $9bn. But the IEA has reiterated that the long-term trajectory for coal is still an accelerated phase-out.

The IEA attributes much of the increase to efforts to shield consumers from rising global gas wholesale prices. It does note the socio-economic importance of consumers being able to afford energy, stating that high fossil fuel prices often result in “imbalanced or poorly sequenced approaches to energy transitions.

But it also highlights how excessive subsidies “keep fossil fuel artificially competitive with low-emissions alternatives”, thus deterring investment in clean energy in the long-term. It notes that governments have been left to scramble to spend on emergency relief, which could have been reduced with investment in structural changes that improve energy efficiency and increase clean energy.

Fossil fuel prices for consumers were kept the lowest throughout 2022 in many countries in the Middle East, the IEA notes. More than half of the total subsidies were concentrated in fossil-fuel-exporting countries.

A COP out?

The IEA expresses concern about how its findings contradict the commitments made at UN climate COPs in recent years. At COP26 in Glasgow in 2021, the final agreement explicitly mentioned fossil fuels for the first time. Nations agreed to reduce and ultimately eliminate “inefficient” fossil fuel subsidies. The UK presidency had been pushing for an elimination of all subsidies to the sector this decade, but language was weakened by fossil fuel exporters and some of the world’s fastest-growing economies such as China and India.

This commitment was reiterated at COP27 in Egypt last year. Again, language was weakened on fossil fuels in the final text, with concerns raised about hosting the conference in two fossil fuel exporting nations in two consecutive years this decade (Egypt and the UAE).

“Phasing out fossil fuel subsidies is a fundamental ingredient of successful clean energy transitions, as underscored in the Glasgow Climate Pact,” states the IEA’s report. “However, today’s global energy crisis has also highlighted some of the political challenges of doing so.”

Our panel of 25 expert judges recently convened for a full day of judging where they whittled down almost 500 entries to a shortlist of around 200 finalists across 24 categories. This includes new categories such as the Net-Zero Innovation of the Year alongside returning favourites such as Partnership & Collaboration of the Year, and the coveted Lloyds Bank Sustainable Business of the Year.

The shortlist of finalists was revealed back in December, via a video and news piece on the edie website. Now, ahead of the Awards Ceremony on 30 March, we have published this free-to-download report providing more information about every shortlisted entry.

The Sustainability Leaders Awards ceremony, which will reveal our winners, takes place as an in-person event at the Park Plaza London Westminster hotel on Thursday 30 March 2023. Table bookings are now open and can be  made here (premium tables are limited).

Fill out the form on the left and click ‘download now’ to access your copy of our Meet the Finalists Report.