Latest news with #WorldBusinessCouncilforSustainableDevelopment
Time Magazine
2 days ago
- Business
- Time Magazine
Climate Action Isn't Dead. It's Just Not Focused on the U.S.
Greetings from London. A week of interviews, events, and meetings—both on the record and behind closed-doors—at the city's Climate Action Week has left me with many reflections, but one stands out: the climate work goes on, but the U.S. is no longer at the center of the universe. That reality is evident almost just from the scale. The organizers tout 700 events and 45,000 participants spread across the sprawling London metropolis. This was the biggest London climate week yet, and the first time for many (myself included). But it was also evident in the meat of the conversations. Investors talked about opportunities outside the U.S., particularly in Asia and Europe. Climate focused executives waffled about how much of a presence they wanted to have at this year's iteration of New York Climate Week, usually an important moment on the climate calendar each September. And British officials emphasized their ability to serve as a global hub for sustainable finance. 'As investors look around the world and they look for places to put capital, I think we sit in a very good position because of what's happening geopolitically,' says Chris Hayward, policy chairman of City of London, the historic center of London, now best known as a financial hub. To get from event to event in London required dashing around the city in the quickest fashion: typically the tube subway system, consistently overheated given the unseasonably hot London temperatures. But the geographic center of the week was undeniably the City of London, the one square mile that hosts the country's premier banking and financial institutions. There's a reason for that: organizers in London see an economic opportunity in supporting the energy transition. And that's at the core of the global shift visible here in London. The companies that gathered this week have, for the most part, doubled down on efforts to make or save money with climate and sustainability initiatives—whether that's an industrial company cutting bills with energy efficiency or a financial firm creating new products to allow companies to invest in renewable power. The reality of this profit-oriented approach means the U.S. will fall behind given the policy uncertainty. The observation was underscored by data released throughout the week. A survey of business executives globally, released by the World Business Council for Sustainable Development (WBCSD) and Bain & Company to coincide with the event, found that large global companies are continuing to invest in green solutions—but are shifting those investments away from the U.S. toward Europe and Asia. Three quarters of surveyed companies said they were increasingly interested in focusing on those regions. Even still, that's not to say that climate work in the U.S. is dead. The report from WBCSD found that 50% of companies now have less interest in investing in climate work in the U.S. That's a striking figure when contrasted with the global picture. At the same time, it means a significant fraction of global companies continue to see potential. In background chats I had, many American business and financial sector leaders were quick to share that they continue to find opportunities to cut emissions in a way that saves them money—though several expressed fear that talking about it publicly could prompt scrutiny from the administration. 'Businesses are not giving up on the decarbonization journey,' says Peter Bakker, president and CEO of WBCSD, 'depending on where businesses are stationed, they are more or less willing to talk about it.' And I was surprised by the response to my informal, totally anecdotal poll about this year's New York Climate Week. In conversations, I asked sustainability executives how they planned to approach the gathering this year. While many said they had considered pulling out, the vast majority said that they have ultimately decided they still plan to show up—perhaps with a smaller footprint than in years past. The calibration of the message in New York this fall will be interesting, to say the least. In more than a decade on this beat, I have never felt more of a reluctance from business leaders to speak on the record. Many long standing sources preferred to talk without attribution, wary of the political consequences of speaking truthfully even while they eagerly highlighted their work to me. While that makes it more challenging to clearly tell the full story of what's happening, I suppose it's somewhat good news if your biggest concern is whether companies are still focused on capping emissions. To get this story in your inbox, subscribe to the TIME CO2 Leadership Report newsletter here.
Channel Post MEA
5 days ago
- Business
- Channel Post MEA
NTT DATA Joins World Business Council To Advance Sustainability
NTT DATA has announced it has joined the World Business Council for Sustainable Development (WBCSD). Through its membership in WBCSD, NTT DATA will contribute to several key initiatives across the organization. In the Climate Action Working Group, the company aims to support the development and implementation of solutions that reduce greenhouse gas emissions and foster climate resilience, while sharing its expertise in AI and data analytics to help other members accelerate their net-zero transitions. In the Nature Action Working Group, NTT DATA will apply its digital engineering capabilities to develop tools that protect natural ecosystems, promote sustainable resource management, and restore biodiversity. Additionally, the company will participate in the Circularity Product and Material Working Group, contributing to frameworks such as the Global Circularity Protocol and championing circular economy principles in product design, material use, and supply chain sustainability. We are pleased to join WBCSD, aligning with our mission to accelerate client success and positively impact society through responsible innovation,' said Yutaka Sasaki, President and CEO, NTT DATA. 'Technology and data play a pivotal role in building a more sustainable and inclusive future. By applying our expertise in IT services and digital innovation, we will pursue quality growth that creates long-term value for clients, society, and the environment. We look forward to collaborating with other leaders to advance sustainability and drive practical solutions that improve transparency and accountability.' With a strong presence in more than 50 countries and a global workforce committed to driving positive societal impact through responsible innovation, NTT DATA's membership underscores its commitment to accelerating sustainability at scale. As a technological leader with over 15 years of experience in sustainability, NTT DATA has delivered more than 1,500 projects across 10 sectors, powered by a team of 400+ sustainability professionals spanning 23 countries. Joe Phelan, Executive Director, Asia Pacific, WBCSD, commented: 'We are delighted to welcome NTT DATA to WBCSD. Their leadership in technology and sustainability aligns with our mission to driver systems transformation for a net-zero, nature-positive and equitable future. We look forward to their contributions across climate, nature and circularity, and to the collaboration ahead as we focus on action, impact and creating business value.'
Web Release
6 days ago
- Business
- Web Release
NTT DATA Joins the World Business Council For Sustainable Development
NTT DATA, a global leader in digital business and technology services, announced that it has joined the World Business Council for Sustainable Development (WBCSD). Through its membership in WBCSD, NTT DATA will contribute to several key initiatives across the organization. In the Climate Action Working Group, the company aims to support the development and implementation of solutions that reduce greenhouse gas emissions and foster climate resilience, while sharing its expertise in AI and data analytics to help other members accelerate their net-zero transitions. In the Nature Action Working Group, NTT DATA will apply its digital engineering capabilities to develop tools that protect natural ecosystems, promote sustainable resource management, and restore biodiversity. Additionally, the company will participate in the Circularity Product and Material Working Group, contributing to frameworks such as the Global Circularity Protocol and championing circular economy principles in product design, material use, and supply chain sustainability. We are pleased to join WBCSD, aligning with our mission to accelerate client success and positively impact society through responsible innovation,' said Yutaka Sasaki, President and CEO, NTT DATA. 'Technology and data play a pivotal role in building a more sustainable and inclusive future. By applying our expertise in IT services and digital innovation, we will pursue quality growth that creates long-term value for clients, society, and the environment. We look forward to collaborating with other leaders to advance sustainability and drive practical solutions that improve transparency and accountability.' With a strong presence in more than 50 countries and a global workforce committed to driving positive societal impact through responsible innovation, NTT DATA's membership underscores its commitment to accelerating sustainability at scale. As a technological leader with over 15 years of experience in sustainability, NTT DATA has delivered more than 1,500 projects across 10 sectors, powered by a team of 400+ sustainability professionals spanning 23 countries. Joe Phelan, Executive Director, Asia Pacific, WBCSD, commented: 'We are delighted to welcome NTT DATA to WBCSD. Their leadership in technology and sustainability aligns with our mission to driver systems transformation for a net-zero, nature-positive and equitable future. We look forward to their contributions across climate, nature and circularity, and to the collaboration ahead as we focus on action, impact and creating business value.'
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Business Standard
09-06-2025
- Business
- Business Standard
India key to global transition efforts, says WBCSD CEO Peter Bakker
The sheer size of the Indian economy, its demographic trends and the country's ambitions around sustainability make it a critical geography for global transition efforts, World Business Council for Sustainable Development (WBCSD) President and CEO Peter Bakker has said. Bakker said "India is a strategic focus for WBCSD," and pointed out the Council's work in areas, particularly transport and food, where the country has both major challenges and significant potential to lead. "We're also encouraged by the direction of policy in India," he told PTI in an email interview, highlighting the government's intent in the 2025 Union Budget to scale up investments in electric vehicles, renewable energy, green infrastructure, and the circular economy. Together, these developments create real momentum for business-led solutions, the Geneva-headquartered WBCSD chief said. "Our members are driving the development of data-driven infrastructure and unlocking innovative finance mechanisms to accelerate the adoption of electric vehicles," underlined Bakker during a recent visit to Singapore. "In today's world, sustainability is a strategic advantage -- and in a market as dynamic as India, those who lead on delivery will define the next era of competitive growth," he said. Further, WBCSD work in electric freight is advancing the E-FAST (Electric Freight Accelerator for Sustainable Transport) initiative, led by NITI Aayog. "Collaborating with industry stakeholders, we've aggregated demand for approximately 7,700 electric freight vehicles by 2030, he said. This collective effort includes partnerships with companies like the Aditya Birla Group, JSW, Amazon, Maersk and others, focusing on pilot deployments and scaling strategies. WBCSD is driving cross-value-chain collaboration particularly around leasing facilities to address the high upfront costs and limited credit access hindering the adoption of zero-emission trucks, especially amongst smaller fleet operators. Moreover, the council members are advancing infrastructure deployment by mapping priority locations that could catalyze investments. These actions are part of a broader effort to build an inclusive, scalable model for clean freight transition, addressing systemic financing and operational barriers through bundled solutions, Bakker said. WBCSD recently launched the Rice Action Alliance, a new business-led platform to accelerate the shift to low-emissions and climate-resilient rice production systems. As one of the world's largest rice producers and exporters, India is central to this initiative. The Alliance is built around three core action areas -- harmonizing technical guidance across low-emissions rice standards relevant to business; promoting supply chain innovation; and building impactful public-private partnerships, Bakker explained. WBCSD is mobilizing members in India to advance efforts in measuring and managing physical risk across value chains, he said. These risks arise from the physical impacts of climate change and nature loss -- such as extreme weather events, water scarcity, and biodiversity decline -- which are already being felt globally and acutely in India. He also shared the long-standing and constructive relationship with CII, particularly through their Centre of Excellence for Sustainable Development, which is the Council's Global Network partner in India. WBCSD has been involved in multiple capacities with CII over the last number of years, starting in 2018. Bakker informed that the CII Summit 2025 will serve as a launch platform for WBCSD's CEO Handbook on Physical Risk, underscoring India's strategic importance.
Business Times
06-05-2025
- Business
- Business Times
Singapore entities will be able to list product carbon data aligned with global methodology
[SINGAPORE] Businesses and organisations in Singapore can now list product carbon footprints based on global standards with the Singapore Emission Factors Registry. The World Business Council for Sustainable Development (WBCSD) and the Singapore Business Federation (SBF) signed a memorandum of understanding on Tuesday (May 6) at Ecosperity Week 2025, enabling any entities in the Republic to list high-quality product carbon footprints of their goods and services based on an updated global methodology. Version 3 of the Partnership for Carbon Transparency (Pact) Methodology and Technical Specifications was recently released by WBCSD after two years of consultations with industry players. Its adoption by the Singapore Emission Factors Registry, the country's single reference point for emission factors, will allow businesses to calculate more precise, complete and comparable product carbon footprints, said the organisations. This partnership represents a milestone in SBF's and WBCSD Pact's shared ambition to leverage supplier-specific data across value chains to accelerate global decarbonisation. Peter Bakker, president and chief executive of WBCSD, said in a press conference during the signing ceremony: 'We need better data for companies to make better decisions, which will lead to better carbon performance.' A NEWSLETTER FOR YOU Friday, 12.30 pm ESG Insights An exclusive weekly report on the latest environmental, social and governance issues. Sign Up Sign Up Kok Ping Soon, CEO of SBF, noted that the Singapore Emission Factors Registry, which was announced at Ecosperity 2024, now contains more than 200 emissions factor data from A*Star, Singapore government agencies including the National Environment Agency, and partners such as the Singapore Green Building Council. The registry will then be developed to cover commonly reported areas in Scope 3 emission data, and to list product footprint data with the adoption of the updated methodology to enable any organisation – not just Singapore companies – to list the high-quality product carbon footprints. 'We believe that our partnership with WBCSD will help our businesses and their value chain partners take positive action to accelerate their decarbonisation chain,' said Kok. Gamer lifestyle brand Razer has committed to be the first business to list its products' life cycle assessment and environment product declaration reports in the Pact-aligned registry in Singapore.
