booost Sustainability WEEKLY #240905
booost Sustainability WEEKLY is a section in which Aoi, the CEO of booost technologies, selects and shares insightful news in the fields of net zero, ESG, and sustainability.
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JEPX Begins Full Tracking of Non-Fossil Certificates in August
In August, the Japan Electric Power Exchange (JEPX) launched a full tracking of non-fossil certificates through its auction system. All non-fossil certificates traded in the non-fossil value trading market are now linked to detailed attribute information, including the type of power source and its origin, providing greater transparency. This initiative has clarified the non-fossil value associated with each power source, enhancing traceability and promoting the use of cleaner energy sources.
Itochu and Kansai Electric (KEPCO) to Begin Offshore Transport for CO2 Underground Storage
Overcoming the Lack of Suitable Sites
In October, Itochu Corporation, in collaboration with major electric power companies, will launch Japan’s first demonstration of a carbon capture and storage (CCS) project. The initiative involves capturing CO2 emissions from a thermal power plant in Kyoto, liquefying the CO2, and transporting it by ship to a designated storage site in Hokkaido. This project aims to address the shortage of suitable storage locations near industrial areas by enabling offshore transport of the liquefied CO2, offering a significant step towards reducing Japan's carbon emissions.
SHEIN Discloses Child Labor Incidents in Supply Chain
In its sustainability report, Chinese fast fashion giant SHEIN disclosed that two instances of child labor were identified in its supply chain last year. This revelation underscores the critical need for improved management of working conditions within its supplier network, highlighting the broader challenges of ensuring ethical labor practices in the fast fashion industry.
ESG Retreat in the U.S.: Major Companies' Mentions Sharply Decline, and the Number of Public Funds Decreases for the First Time
A clear trend is emerging among major U.S. companies and the asset management industry to move away from ESG initiatives, as highlighted in a recent report. The number of publicly listed companies mentioning ESG in their earnings presentations has dropped significantly, reflecting growing political divisions and operational challenges. For the first time, the number of publicly offered funds that consider ESG factors also began to decline during the July-September 2023 period, marking a notable shift in the focus on sustainability within corporate and investment strategies.
Creating Stores That Sell Decarbonized Products: Japan Research Institute to Conduct Experiments at 400 Locations
Starting in November, the Japan Research Institute (JRI) will launch a demonstration experiment in collaboration with supermarkets and food manufacturers to enhance consumer awareness about decarbonization and its influence on purchasing decisions. Building on the success of previous trials conducted in four stores, including drugstores, from January to February, the initiative will now expand to encompass 400 stores. This expanded effort is anticipated to drive a significant increase in demand for carbon footprint (CFP) calculations as part of the broader strategy to integrate sustainability into consumer behaviour.
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