– ESG rises to #2 top priority for procurement execs
– Shipping emissions are going away by 2050, hopefully
– Tesla’s charging dominance continues
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The International Maritime Organization (IMO) announced the adoption of the “2023 IMO Strategy on Reduction of GHG Emissions from Ships”, which includes new goals to reach net zero emissions from international shipping by 2050 and to ensure the uptake of low emissions fuels by 2030. According to Mark Lutes, Senior Global Climate Policy Advisor at WWF International, there is a gap to fill in the proposal, but he is optimistic.
With over 80% of global trade volumes being transported by sea, resulting in 3% of global GHG emissions, emissions reductions efforts in the maritime sector are critical to reducing pollution and decarbonizing our supply chains. As ocean bound vessels face long journeys crossing the ocean, the sector faces a similar extensive journey in terms of decarbonization as it is almost entirely dependent on heavy fuel oils, one of the dirtiest fuels from an emissions perspective.
ESG has risen to become the second-highest priority for procurement executives, up from 6th place in 2021, according to a recent survey by Deloitte. The increased focus on ESG is driven by regulatory and stakeholder pressures. The report emphasizes the important role of procurement in driving sustainability, including identifying carbon-efficient suppliers.
Tackling Scope 3 emissions is becoming increasingly important, as evidenced by the rise of ESG priorities among procurement executives worldwide. This shift is driven by regulatory and stakeholder pressure to manage sustainability factors, particularly within companies’ value chains. Climate-friendly procurement initiatives play a crucial role in reducing emissions by identifying carbon-efficient suppliers and addressing key ESG factors such as waste reduction, material circularity, and climate mitigation.
Tesla continues to maintain dominance over public charging infrastructure as Mercedes-Benz has now joined Ford, General Motors, Volvo, and Rivian to access their Supercharger network and adopt their vehicles to Tesla’s charging standard. According to some analysts, this network will potentially be worth up to US$100 billion and could allow Tesla to collect data from its competitors’ battery systems and engineering.
This strategic move positions Tesla not just as a car company, but potentially as a data company with access to a lucrative market. By leveraging this data, Tesla could enhance the efficiency of its own batteries, improve its range, and potentially tap into the electric utility industry by providing valuable insights for grid management and charging station placement.
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