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December 21 · Issue #70 · View online
The insider memo for sustainability leaders in the commodities sector.
If you would like help measuring your carbon emissions please visit https://carbonchain.com/contact
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Gunvor secures new US $1.135 billion LNG syndicated borrowing base facility tied to climate commitments; Kraft Heinz sets goal of net zero GHG emissions by 2050; Alibaba climate tide can lift valuation boat, and much more… Welcome to the 70th Edition of the Climate Memo by CarbonChain!
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Gunvor secures new US $1.135 billion LNG syndicated borrowing base facility
Gunvor Group, the largest independent trader of LNG worldwide, launched the syndicate at US $800 million and was oversubscribed following strong appetite from the market, predominantly in Asia, the Middle East and Europe, and closed at US $1.135 billion. As a part of the facility, Gunvor has committed to CO2 carbon emissions reporting to establish transparency for the carbon footprint of the company’s LNG value chain.
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Kraft Heinz sets goal of net zero GHG emissions by 2050
The Kraft Heinz Co. on Dec. 15 pledged to achieve net zero GHG emissions across its operational footprint and entire global supply chain by 2050. To achieve its goal, Kraft Heinz will promote regenerative and sustainable practices across its agriculture supply chain, transition to more circular and recyclable consumer packaging, procure a majority of the company’s electricity from renewable sources by 2025, and continue to transition on-site manufacturing facilities to renewable energy sources.
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Alibaba climate tide can lift valuation boat
Alibaba’s big climate splash could have ripple effects on its valuation. The Chinese e-commerce titan at its annual investor day on Friday unveiled bold carbon-neutrality goals for 2030 and beyond. Longer term, the efforts could bolster shareholder returns.
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Morrisons turns to digital data tracking to cut supply chain emissions
Supermarket Morrisons is rolling out a new emissions-tracking software platform to suppliers producing its own-brand products, as it strives to reduce supply chain emissions by 30% by 2030.
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EUROPE: Fortum and Uniper commit to reduce Scope 3 indirect emissions by 35% by 2035
Finnish energy company Fortum and its subsidiary Uniper have announced that they have set a target to reduce their Scope 3 indirect emissions by 35% by 2035 at the latest, compared to the base year 2021.
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Blackberry says it has achieved Carbon Neutrality
The Canadian cybersecurity company said it has reduced direct and and indirect emissions across its operations by 88% since 2013. Carbon neutrality was reached across scope 1, scope 2 and material scope 3 emissions.
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Supply chain linked: Canberra's bold plan to reduce its emissions for everything, everywhere
The Australian Capital Territory has a bold plan to address the carbon emissions that most climate commitments neglect. It’s about looking at where goods are coming from, what they are made of, and if they could be substituted. The ACT plan also recommends ramping up initiatives to encourage recycling and reduce waste, from households and in construction, which could produce community-wide carbon savings.
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