Latest news with #Scope3
Fibre2Fashion
2 days ago
- Business
- Fibre2Fashion
South Korea's Misto unveils 2024 ESG report under new brand identity
Misto Holdings announced today the release of its sixth annual sustainability report for 2024 and the first under its new brand identity, following its name change earlier this year. Reflecting the company's renewed brand identity of Redefining Boundaries , the report outlines Misto's key strategies and execution frameworks across three ESG pillars: Resilient Planet, Empowering Society, and Responsible Governance. In its latest report, the company adopted a Double Materiality Assessment aligned with the International Sustainability Standards Board (ISSB) and European Sustainability Reporting Standards (ESRS), identifying key sustainability issues, including climate action, sustainable product expansion, chemical management, greenwashing prevention, and supply chain management. Misto Holdings released its 2024 sustainability reportâ€'its first under the new brand identityâ€'detailing ESG strategies across planet, society, and governance. Highlights include expanded Scope 3 emissions data, circular product launches, strengthened supplier compliance, global social initiatives, and a 158.7% rise in shareholder returns, reinforcing its renewed sustainability commitment. In the Environmental (E) section, Misto expanded its Scope 3 greenhouse gas emissions disclosure categories from four to five, and, for the first time, disclosed emissions data across its supply chain. Biodiversity risk assessments were also conducted at key entities in South Korea, Mainland China, and Italy. Circular economy initiatives included the upcycling campaign Return to Care , reuse of sample materials into shoe risers and floor mats, and the official launch of FILA Re:Deuce —a sustainable product line under the FILA brand. In the Social (S) area, Misto strengthened supply chain compliance through the introduction of third-party audits and held 25 supplier sustainability roundtable meetings and trained 27 suppliers in sustainable management practices. The company, along with Misto Korea and the FILA Museum Foundation, demonstrated strong social commitment through global initiatives such as Türkiye earthquake relief, support for underserved youth, and psychological care for cancer patients. From a Governance (G) standpoint, Misto Holdings delivered notable progress to enhance shareholder value. Total shareholder returns in 2024 increased 158.7% year-over-year, with a payout ratio of 201.2%. Since last year, the company has strengthened cross-organizational alignment and execution by establishing 'Global Compliance Network,' an internal task force composed of compliance officers from Misto Holdings and its major subsidiaries, to share group-wide sustainability initiatives and strategies. A Misto Holdings representative stated, 'With our recent name change, we are embracing our corporate responsibility for a sustainable future with greater responsibilities,' adding, 'We will continue to strengthen ESG management with unwavering determination and company-wide accountability to deliver real results and achieve sustainable growth.' Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged. Fibre2Fashion News Desk (RM)
National Observer
7 days ago
- Business
- National Observer
If oil giants are reluctant to invest in carbon capture, why should taxpayers?
When Prime Minister Mark Carney announced that the feds would be interested in pipeline projects for ' decarbonized oil,' the folks at the Pathways Alliance must have felt their hearts skip a beat. The oilsands consortium took it as a sign that the federal government might embrace a pitch by Alberta Premier Danielle Smith to approve a new pipeline to the west coast in exchange for a carbon capture and storage project the producers have talked about since 2022, but never started. Pathways president Kendall Dilling told the Globe and Mail he's feeling optimistic as he sees a 'real, renewed interest in getting past some of the barriers that have been slowing infrastructure down in this country.' And Smith said this week a private-sector pitch to build the pipeline is close. Pathways' grand plan is to capture carbon dioxide from oilsands production facilities and pipe it to an underground storage facility in Cold Lake, Alta., thereby preventing its release to the atmosphere where it adds to global warming. Oil produced this way is billed in industry circles as 'decarbonized' even though — critically — the end product will produce as much carbon pollution as any barrel of oil ever did when burned in cars, ships, planes or factories without carbon capture technology, also known as Scope 3 emissions. Climate scientists were quick to call bullshit when feds used the euphemism in a list of projects that might be considered in the 'national interest.' Among the naysayers was none other than Simon Donner, co-chair of the federal government's own Net-Zero Advisory Body, who called the notion ' Orwellian.' While applying the term 'decarbonized' to the end product is disingenuous, cutting the substantial emissions from oil production is still significant. Oil and gas producers are Canada's most egregious carbon polluters, and of those, the oilsands giants are among the worst of the worst. So there is a valid argument to be made for cutting emissions during the production phase, at least until the world transitions to clean energy. But if the oil giants are as convinced as they claim to be about the efficacy of carbon capture and storage, why isn't the Pathways project already up and running? First, it's hugely expensive; an anticipated $16.5 billion before the inevitable cost overruns. Second, it's a relatively new technique with a spotty record. And finally, the companies know oil is a sunset industry — with peak oil just around the corner, they can no more justify billions for carbon capture than they can new oilsands plants. Oil is predicted to reach peak demand sometime between 2030 and 2050, depending on who you ask and trust. Their runway is simply too short to justify spending on carbon capture, so they are looking to us to pay. If Canada's oil giants are reluctant to invest in carbon capture, why should the feds foot the bill? @ writes Industry claims the grants and tax credits on offer from the feds is not enough and that funding from a carbon credit market created just for them is too risky. And Smith, for all her whining about the lack of federal support for Alberta's oil and gas industry, hasn't coughed up sufficient cash either, possibly because many in her party are climate change deniers who don't believe carbon is worth capturing. Former Energy and Natural Resources Jonathan Wilkinson said late last year that Pathways is 'probably looking for something more from the government of Alberta.' Aside from the huge dollar figures, carbon capture projects also have a spotty track record. Although it's widely regarded as a part of the climate change solution and the technology is improving, there have been some spectacular failures. The Pathways website boasts that Alberta has experience and expertise building and operating large-scale CCS projects, citing Shell's Northern Alberta Quest Carbon Capture and Storage facility as a star example. But if Quest is a success, which became a matter of debate when Greenpeace revealed that Alberta allowed Shell to sell phantom carbon credits to juice the numbers, there are plenty of others with even bigger problems. A carbon capture project at Saskatchewan's Boundary Dam was an utter flop; Archer-Daniels-Midland, an American agribusiness project with a carbon capture project in Decatur Illinois, was forced to shutter after it leaked; and Sleipner, Equinor's flagship CCUS project in Norway admitted last year that defective monitoring equipment caused it to overbill its ability to capture and store carbon and storage by about 28 per cent. Of all these, the potential for leaks is perhaps most concerning. Carbon capture is only worth the massive investment if the carbon injected deep into underground wells stays there forever. That means monitoring the sites in perpetuity and repairing them if things go sideways. All this at a time when Alberta is still struggling to clean up or even seal off the original oil wells. The federal government has bent over backwards developing complex economic incentive programs to try to make the Pathways Alliance project happen and may even greenlight a new pipeline to further sweeten the pot. But it's not clear why the federal government would trust the oil companies to pony up their share of the money for carbon capture, given they haven't so far. A Pembina Institute study last fall found oil companies in Canada are dumping money into increasing production and have not yet made 'meaningful investments' in emission reduction projects. A new pipeline to further aid the extraction of some of the world's dirtiest oil is a costly mistake for the climate. And trusting that the Pathways Alliance partners will fund a carbon capture project and get it operational soon enough to mitigate the damage is a longshot bet.
Techday NZ
7 days ago
- Business
- Techday NZ
FourTwoThree unveils global SME climate data platform with bank support
FourTwoThree has launched a bank-backed data platform aiming to address climate financing and emissions within the small and medium-sized enterprise (SME) sector worldwide. The new platform is supported by NatWest Group, NAB, and SC Ventures, bringing together institutional backing in a move to facilitate the transition to net zero across global supply chains. According to the University of Cambridge, approximately $50 trillion will be required to ensure SMEs meet the necessary sustainability standards by 2050, representing half of the total $100 trillion needed for net zero supply chains. FourTwoThree's core offering is a digital platform that enables seamless data sharing and automated assessment amongst banks, enterprise organisations, and their SME value chain partners. By supporting accurate calculation and measurement of Scope 3 carbon footprints – which account for more than 70% of many large companies' emissions – the platform facilitates collaboration towards emissions reduction. SME focus The platform has been developed to make climate data collection and reporting accessible for SMEs, which play a central role in both employment and trade worldwide. The pressing challenge for large enterprises is that the majority of their emissions derive from their extended supply chains, where visibility and effective collaboration can be difficult. FourTwoThree aims to bridge this gap by allowing SMEs and larger firms to share reliable data, automate key sustainability processes, and access decision-making frameworks that could unlock practical strategies and commercial value. Glyn Baker, Chief Executive Officer at FourTwoThree, emphasised the role that accessible climate action can have across the business ecosystem. "Climate action becomes possible when we make it accessible. With regulatory, shareholder and customer pressure building on large enterprises we know that the demands on their SME networks are increasing. SMEs play a crucial role in the global economy, representing the majority of commerce, employment and GDP. We have the user data and engagement to enable those businesses to accelerate their journey towards a sustainable global transition. Connecting SMEs to better support, accessible financing and emerging climate innovation will simply make them better and more engaged customers, suppliers and employers." Institutional collaboration The development involved active participation from investing banks, leveraging previous experience and use cases to create a platform that meets expectations for security, risk management, and performance at the enterprise level. The digital system is designed to integrate with existing bank infrastructure, supporting both regulatory requirements and customer engagement strategies. Alongside its official launch, FourTwoThree has announced the acquisition of PointSource Technologies, a climate data start-up incubated by SC Ventures. This move is intended to strengthen FourTwoThree's capacity to make climate data actionable, supporting automated assessments for sustainable financing, subsidies, and compliance across supply chains. The acquisition and related investments are subject to regulatory approval. Harald Eltvedt, Operating Member at SC Ventures, commented on the integration of PointSource Technologies into the wider FourTwoThree offering. "When we started PointSource, our goal was to build something pragmatic and useful—something that helps bridge the gap between climate ambition and climate action. I'm proud of what the team has built, and even prouder to see it find a new home with FourTwoThree. This is exactly what we aim to do at SC Ventures: back bold ideas, build real solutions, and scale them with the right partners. With FourTwoThree, we believe PointSource can now reach the scale and relevance the climate challenge demands." Technical foundation FourTwoThree's digital solution is supported by technology partner Valtech and hosted on Amazon Web Services, with a focus on rigorous security protocols suitable for large enterprise clients. The platform aims to provide both banks and their SME customers with tailored guidance, automated emissions calculations, and insight into emerging standards and reporting requirements. The launch underscores the importance of direct institutional backing in supporting the transition of SMEs towards lower emissions, particularly as financial institutions face increased regulatory and stakeholder expectations around sustainability reporting and risk management.
Yahoo
25-06-2025
- Business
- Yahoo
LOTTE rental earned the highest 'AAA' rating in the MSCI ESG evaluation for two consecutive years
Became one of the world's highest ESG leader groups The only company in the world's passenger ground transportation industry to receive the highest AAA rating for two consecutive years Highest rating in 'governance' area, which has the highest weight in MSCI ESG evaluation Among domestic listed companies, only 11 companies, including LOTTE rental, SHINHAN Financial Group and SK Corporation received AAA SEOUL, South Korea, June 25, 2025 /PRNewswire/ -- LOTTE rental ( received the highest AAA rating for two consecutive years in the 2025 ESG evaluation announced by Morgan Stanley Capital International(MSCI), a global investment information provider. LOTTE rental is the first and only company to receive a AAA rating in the global passenger ground transportation industry for two consecutive years, following last year. MSCI ESG Evaluation is a global appraisal that evaluates the sustainability of companies and provides useful information to investors. Every year, the ESG management status of about 8,500 listed companies around the world is evaluated and classified into 7 levels (AAA-AA-A-BBB-BB-B-CCC). It is one of the most authoritative global rating agencies recognized by investors around the world. LOTTE rental was listed on the stock market in August 2021 and has been receiving MSCI ESG evaluation since 2022. It received an AA rating, the highest level in the same industry, for two consecutive years in 2022 and 2023, and rose to the highest rating of AAA in last year's evaluation. In the 2025 MSCI ESG evaluation, AAA rating was given to only 13% of companies worldwide, a 2%p decrease from last year. Along with LOTTE rental, there are only 11 domestic listed companies that received an AAA rating, including SHINHAN Financial Group and SK Corporation. The MSCI report focused on carbon emissions when evaluating the Environment sector. LOTTE rental is implementing carbon neutrality (Net-Zero) roadmap that reduces net greenhouse gas emissions to zero. The roadmap was developed with 2018 as the base year, and the goal is to reduce net emissions by 35% by 2030 compared to 2018. Starting in 2022, the company has been measuring and reporting its Scope 3 greenhouse gas emissions every year. The sector with the largest increase in scores compared to the previous year is the Social sector. It received high scores for its top-level labor management and safety management within the same industry. It operates a safety management office, a safety-dedicated organization directly under the CEO, and continuously conducts safety inspections on all workplaces nationwide. Last year, 437 risk factors were improved through 125 on-site inspections. The governance sector, which has the highest evaluation weight, has improved its score in all items. MSCI stated in the report that "it reflects a relatively low level of governance risk in most areas," and "in particular, the ownership and control items and accounting items are evaluated as the best in class in the domestic market." In order to ensure transparent and balanced board decision-making, a senior outside director system was introduced, and as part of the shareholder return policy, a dividend procedure that meets international standards was established. This maintenance of the MSCI AAA rating is expected to have a positive impact on credit rating evaluations. This is because not only domestic institutional investors, but also domestic and foreign credit rating agencies and overseas institutional investors are significantly reflecting ESG ratings, especially governance factors, in corporate credit evaluations and are also considering them as important evaluation factors when investing in bonds and stocks. Choi Jin-hwan, CEO of LOTTE rental, stated, "We will continue to lead the industry's ESG management across the environment, society, and governance, and in particular, continue efforts to enhance shareholder value under a transparent and sound governance structure." ### About LOTTE rental LOTTE rental, the only comprehensive rental company in Korea, provides better value with various business portfolios, including auto mobility services that encompass car life, business solution services that support more efficient businesses. LOTTE rent-a-car is creating an innovative car life as the No.1 car rental brand. LOTTE rent-a-car G car, Korea's –first car-sharing brand, is drawing a better mobility service. LOTTE rental is moving forward as a mobility leader that connects customers' precious lives. For more information about LOTTE rental, please visit: View original content to download multimedia: SOURCE lotte rent-a-car Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
24-06-2025
- Business
- Business Wire
o9 Issues Its Annual ESG Impact Report, Revealing Continued Progress Across Key Sustainability Initiatives
DALLAS--(BUSINESS WIRE)-- o9, a leading AI-powered software platform for enterprise planning and execution, today announced the release of its 2025 ESG Impact Report, revealing the Company's sustainability, social responsibility, and governance initiatives, metrics, and results achieved during the 2024 calendar year. The annual report, first published in 2021, reflects significant year-over-year progress across several strategic priorities. Some of the report's noteworthy sustainability and social responsibility initiatives include: Receiving the EcoVadis Gold Medal for the second consecutive year: In 2024, o9 received the EcoVadis Gold Medal for the second year in a row, placing the Company in the top 2% of organizations reviewed globally. The rating recognizes strong performance across labor and human rights, environmental practices, business ethics, and sustainable procurement. Formalizing a Decarbonization Strategy: o9 advanced its environmental efforts by formalizing its decarbonization strategy in 2024. Key milestones included the development of a climate transition plan, an increase of 65% in the proportion of renewable energy sourced, and the design of a supplier engagement plan to improve Scope 3 emissions tracking. Submitting the CDP Climate Change Questionnaire: In 2024, o9 submitted its first CDP Climate Change questionnaire. This marks an important step in enhancing the transparency of the company's environmental performance. The result reflects the foundational strength of o9's environmental management systems, and the company is committed to publishing the disclosure annually and improving its score in future years. Continued commitment to various social impact initiatives: Through o9's partnership with the WePledge 1% program, o9 employees donated nearly $40,000 to nonprofit organizations in 2024, supported by a more than $200,000 corporate donation. Additionally, employee volunteer participation increased to approximately 5,194 hours in 2024, compared to 4,432 hours in 2023. The 2025 ESG Impact Report was prepared using globally recognized sustainability frameworks, including GRI, SASB, SDGs, UNGC, and the GHG Protocol. o9 uses its own Digital Brain platform for integrated business planning to streamline the ESG data collection and reporting across multiple standards, showcasing the scalability of its technology. To ensure transparency and continuous improvement, o9 engaged SGS United Kingdom Ltd to conduct a limited assurance on key ESG indicators. In addition, o9 reaffirmed the results of its prior materiality analysis and will conduct a comprehensive double materiality assessment in 2025 to reflect evolving regulations and stakeholder expectations. Chakri Gottemukkala, Co-founder and CEO of o9, said, "Building sustainable and resilient supply chains is not a solitary endeavor; companies of all sizes will need to collaborate to achieve greater sustainability across our interconnected supply chains. As a leader in enabling businesses to optimize their operations, o9 is uniquely positioned to drive impactful change. We are deeply committed to tackling environmental and social challenges while upholding robust governance practices that promote accountability, transparency, and ethical decision-making in all our initiatives." Access the o9 2025 ESG Impact Report here. To learn more about o9, visit About o9 o9 is a leading AI-powered platform for integrated business planning and decision-making for the enterprise. Whether it is driving demand, aligning demand and supply, or optimizing commercial initiatives, any planning process can be made faster and smarter with o9's AI-powered digital solutions. o9 brings together technology innovations—such as graph-based enterprise modeling, big data analytics, advanced algorithms for scenario planning, collaborative portals, easy-to-use interfaces and cloud-based delivery—into one platform. For more information, please visit
