Post by account_disabled on Feb 21, 2024 21:12:15 GMT -6
Last October, the fund developed in collaboration with the Ellen MacArthur Foundation was launched . According to edie , it has supported companies of various sizes and sectors, with packaging, chemicals, forest products, electronics, food and beverages and fast moving consumer goods (FMCG) representing significant proportions of the cohort. Companies from sectors such as textiles, software, health and e-commerce also appear in the fund. Companies supported by the fund are grouped into three categories depending on the nature of their “exposure” to the circular economy. The categories are: Adopters: companies setting circular economy goals for their own operations. Enablers: companies that provide innovative solutions. Beneficiaries: companies that benefit from the transition to a circular economy, such as those that sell recycled plastic raw materials. In its first annual fund update, sent to investors and media representatives on September 29, BlackRock revealed that 44% of the companies backed by the fund to date are adopters. Among this cohort are: Adidas. Nike. L’Oreal. Coca Cola European Partners (CCEP). Nestlé. Microsoft. Trex. The rest of the companies are divided, with three-fifths of the remaining beneficiaries and two-fifths of the enablers.
To ensure that the fund's allocation does not create unintended environmental or social consequences, according to the report, BlackRock applies its ESG framework criteria to all companies selected for potential participation. We believe that companies with strong corporate governance practices, including how they manage the environmental and social aspects of their operations, better mitigate Europe Cell Phone Number List long-term risk and deliver better risk-adjusted returns. Report. When the fund was first launched, fund manager Evy Hambro said he expected the fund to grow “ as quickly ” as BlackRock's other sustainable finance thematic products, “ if not faster .” He described the progress made to date as “ encouraging .” At BlackRock, we believe that the most progressive and innovative companies in reducing the amount of waste going to landfills, the non-renewable resources consumed and the pollution generated, can also generate significant benefits for investors and added that “Proactive disclosure” of information regarding circular economy metrics has increased over the past 12 months, as has understanding of the relationship between climate change and consumer systems. On the latter, the Ellen MacArthur Foundation sees the shift to a circular economy providing up to 45% of the cumulative emissions reductions needed for a net-zero global economy by .
Race to the top? Going back to January, the circular economy was a key talking point at Davos, and many across the global green economy believed that it would therefore be a key theme for 2020. Dutch think tank Circle Economy used its platform at the Forum to launch a landmark report, which revealed that only 9% of the global economy is considered circular, meaning less than 10% of the 92.8 billion tonnes of material extracted for use is reused annually. Progress towards non-linear production-consumption systems has been interrupted by the pandemic in many sectors, especially plastics and packaging. Many retailers halted, delayed or reduced refill and reuse offers amid concerns around health and hygiene, while “big plastics” lobby groups reportedly increased pressure on governments. However, on the other hand, COVID-19 has highlighted the ways in which extraction systems are harming nature, both politically and publicly. Regarding the latter, numerous investigations have highlighted how the lockdown has changed individuals' approaches to issues such as food waste.