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Ontario on building the economy

We are building the economy of the future to benefit you today. We're investing in and connecting our electric vehicle (EV) and EV battery supply chains to create good-paying jobs across the province. EVs and the batteries that power them will be built in Ontario, by Ontario workers.

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Nestlé Moves Away from Carbon Offsets to Focus on Emissions Reductions Across Brands

Global food and beverage company Nestlé will shift away from the use of offsets to achieve carbon neutral brands, focusing instead on actual emissions reductions in its operations and value chain, according to a company spokesperson, following media reports that the company was walking away from carbon neutral pledges for some brands.

Nestlé announced a commitment in 2019 to achieve net zero greenhouse gas (GHG) emissions by 2050, and in 2020 the company published its “time bound plan” to reach its climate goals, which also include targets to achieve a 20% emissions reduction by 2025 and 50% by 2030.

“Our net zero roadmap does not rely on offsets. We focus on GHG emissions reductions and removals within our value chain to reach our net zero ambition.”

Read the full article here.

Home Depot Says 85% of Lawn Equipment Sales to be Battery Powered by 2028, Saving 2 Million Tons of Emissions per Year

Home Depot announced a new goal to have more than 85% of its US and Canada sales of outdoor power equipment, including lawn mowers, leaf blowers and trimmers to be powered by rechargeable batteries, instead of gas.

According to the company, the transition would reduce more than 2 million metric tons of greenhouse gas (GHG) emissions per year, with gas-powered mowers creating as much pollution in an hour as driving 300 miles in an average car, and a gas leaf blower generating emissions similar to driving 1,100 miles.

Read the full report here.

Over 80% of Businesses Plan to Increase Spending on Environmental Sustainability Goals Over Next Year: Honeywell

A large majority of companies are planning to increase spending over the next 12 months on environmental sustainability initiatives across categories including energy efficiency and emissions reduction, according to a new survey released by industrial products, solutions and technologies company Honeywell, as sustainability goals continue to emerge as the top priority for executives. (Source: ESGtoday.com)

“Our data shows that companies aren’t wavering in their commitment to sustainability. Not only are leaders keeping it at the top of the priority list despite other looming challenges, but they are also increasingly taking actions.” ~ Vimal Kapur, President and Chief Operating Officer of Honeywell

Click here to access Honeywell’s 2Q 2023 Environmental Sustainability Index.

BlackRock's Larry Fink says “not our place to be telling companies what to do” on climate, and more...

Investment giant BlackRock will continue to view climate risk as an investment risk, according to the firm’s Chairman and CEO Larry Fink’s annual letter to investors released today, that addressed a series of claims by anti-ESG politicians, such as accusations that BlackRock forces companies to reduce emissions, or that the firm “boycotts” energy companies.

Read the full article here.