Here’s the Daily ESG Digest for July 20th, Tuesday.
1. (North America) – United Airlines revealed they have partnered with Nike Inc and Siemens AG in an “Eco-Skies Alliance.” They plan to finance the production of 3.4 million gallons of sustainable jet fuel. Air travel accounts for 2% to 3% of greenhouse gas emissions, while some environmental groups claim it’s higher. United says this is a way for customers to reduce the environmental impact of flying beyond buying carbon offsets, which environmental critics say don’t directly reduce the impact of flying. The good news is, United isn’t the only airline company looking to reduce its carbon footprint. Delta Air Lines also plans to replace 10% of its jet fuel with sustainable aviation fuel by 2030. (Link)
2. (North America) – A Swedish plastics manufacturer called Polykemi Inc. is opening its first U.S.-based factory and will be using a significant amount of recycled plastic. The new factory will be based in Gastonia, N.C., and the company has received funding of over $11 million because of its commitment to making a big difference in its resin manufacturing processes. Company officials have announced that the factory will produce 14 million pounds of resin per year, and at least half of the raw materials will come from plastic production scraps that do not always enter the cycle economy. (Link)
3. (Asia) – Toyota, a Japanese auto manufacturer, has been facing criticism in the past because it failed to match the electric vehicle plans other manufacturers had. However, at the Auto Shanghai motor show, Toyota announced the Toyota bZ — their new series of battery electric vehicles (BEVs). According to GreenBiz, the company also announced that they plan to be carbon neutral by 2050. “We will review and disclose information to confirm our public policy engagement activities are consistent with the long-term goals of the Paris Agreement by the end of this year, and will strive to provide enhanced information disclosure so that as many stakeholders as possible can understand our activities.” The Toyota bZ4X is set to launch in Japan and China, with worldwide sales plans by the middle of 2022. (Link)
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