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By Sharon Kimathi, Energy and ESG Editor, Reuters Digital

Hello!

Happy belated World Environment Day! It’s usually around this time of the year that global climate discussions begin in anticipation of the United Nations Conference of the Parties (COP28). And check out today’s ESG Spotlight for a look at how Paris is making the Seine river swimmable before the city hosts the Olympics next year.

UN climate talks in Germany kicked off without an agreed final agenda for its technical discussions, a senior negotiator said, clouding optimism that the 10-day meeting would result in a clear programme for the COP28 conference in Dubai.

The Bonn Climate Change Conference, designed to prepare decisions for adoption at COP28 in the United Arab Emirates, is seen as a mid-way check for how ambitious international climate talks will take shape at COP28 in December.

People wait in line to attend the Climate Change Conference in Bonn, Germany, June 6, 2023. REUTERS/Jana Rodenbusch

Despite months of discussions since the previous COP27 in Egypt, there was no agreement on adopting the agendas proposed by the COP permanent subsidiary bodies for the Bonn conference, Nabeel Munir, chair of UN Subsidiary Body for Implementation (SBI), said at the opening of the talks.

“What we experienced today… with the non-adoption of the agenda, it’s not desirable, but it’s not uncommon in a party driven process,” Simon Stiell, executive secretary of the UN Framework Convention on Climate Change (UNFCCC), told a news conference on Monday.

Stiell said the December conference could be the most significant one on climate change since Paris as it provides the world an opportunity to get on track to meeting the 2015 Paris climate protection commitments.

Meanwhile, around 170 countries agreed to develop a first draft by November of what could become the first global treaty to curb plastic pollution by the end of next year, after a rocky start to a week of negotiations.

Country delegations, NGOs and industry representatives gathered in Paris last week for the second round of UN talks toward a legally binding pact to halt the explosion of plastic waste, which is projected to almost triple by 2060, with around half ending up in landfill and less than a fifth recycled, according to a 2022 Organisation for Economic Co-operation and Development report.

Though the first half of the five-day negotiations was spent arguing over procedural issues, delegations split into two groups to discuss the range of control measures that can be taken to stop plastic pollution as well as whether countries should develop national plans or set global targets to tackle the problem.

By the session’s close, countries agreed to prepare a “zero draft” text of what would become a legally binding plastics treaty and to work between negotiation sessions on key questions such as the scope and principles of the future treaty.

Brazil’s Environment Minister Marina Silva shares a smile with Brazil’s Indigenous Peoples Minister Sonia Guajajara, Brasilia, Brazil April 25, 2023. REUTERS/Ueslei Marcelino

Dominic Nolan, associate director of corporate social responsibility for UK & Ireland at multinational IT firm, Kyndryl, shares his thoughts on World Environment Day:

“The tech sector needs to stand up and take action to protect the Earth, not just on World Environment Day, but every day. 

“We have now reached the point of climate emergency; The Intergovernmental Panel on Climate Change’s (IPCC) March 2023 report warns that we are not going to achieve the target of limiting global warming to 1.5°C by 2050.

“In the UK and Ireland, we are already feeling the effects of a global average temperature increase of approximately 1.1°C.

“Although World Environment Day provides a crucial opportunity to raise awareness and create a stream of consciousness around the many socio-environmental issues that are affecting our planet, we have reached the point where action is far more important than awareness. 

“While governments need to take the lead on carbon and plastic reduction, the IPCC believes the actions taken by organizations and individuals can make a big contribution to achieving net zero.

“Tech organizations can play a unique role in being responsible for minimizing impacts on climate and biodiversity from their own operations and supply chains. 

“This role can take place in many different forms, including advocating for emerging technologies such as AI and blockchain that can optimize energy networks with innovations like integrated storage, and driving the discovery of new materials and environmentally friendly ways of doing things. 

“As the theme this World Environment Day is on solutions to plastic pollution, with the focus on #BeatPlasticPollution, it is important to also think about the small changes that your organization, your team or even just you as an individual could make to reduce your plastic output. Creating a more sustainable culture that involves everyone in the journey to net zero is ultimately a big part of the solution.”

Exclusive: The war in Ukraine is deepening the climate crisis at a time when global greenhouse gas emissions are already running at a record high, according to a report by carbon accounting experts who have tallied the overall impact of the conflict.

The report, due to be released on the sidelines of the U.N. climate summit in Bonn this week, calculates that the first 12 months of the war will trigger a net increase of 120 million tonnes of greenhouse gasses, equivalent to the annual output of countries such as Belgium.

Fluidion’s Chief Mechanical Technician Omar Bach Rais takes a sample of water from the Seine River, Alexandre III bridge in Paris, France, May 31, 2023. REUTERS/Stephanie Lecocq

Find out how Paris is getting the Seine river swim-ready for the 2024 Olympic games on today’s ESG Spotlight. Elsewhere, a luxury fashion-house is testing out ways to produce cotton sustainably.

On a sunny spring day, Dan Angelescu was testing the water quality of Paris’ Seine river by the bridge Alexander III – a scenic view for next year’s swimming marathon and triathlon Olympic trials.

Angelescu has been working for the city since 2017 on its longtime project to make the Seine swimmable. The 2024 Games are a good opportunity to fast-track it in order to host some sporting events in the famous river – as was done at the first Paris Olympics of 1900.

“It’s an ambitious objective, and nobody knows how the Olympic Games will be, whether the water quality will be good enough or not,” Angelescu said, adding that it was “realistic”, and that the city was putting in the effort required.

The logo of fashion house Armani is seen at the entrance of a store in Brussels, Belgium December 6, 2022. REUTERS/Yves Herman

Luxury fashion house Armani Group has started an experimental agroforestry plantation in southern Italy to test new ways to produce cotton sustainably, it said.

Armani said cotton planting started last month over one hectare of land – to be expanded to five hectares – in the southern region of Apulia. Agroforestry is a land-use system that plants trees in and around crop and pastureland.

“Over five years, this farm site will be among the first field experiments in Europe testing agroforestry cotton with alternative tree species and regenerative practices,” Armani said in a statement.

“As CFOs, we not only have the responsibility, but also the ability to lead the charge for change and credibility. We need to push for and hold ourselves accountable to a new global consensus for consistency and rigor so that investors remain interested, and so that we all benefit from their results.”

Claus Aagaard, Chief Financial Officer at multinational food manufacturer, Mars

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