Big Promises at Climate Week—But Who’s Following Through?

Jay OwenReforming Global Finance, Beyond GDP

THIS WEEK: We highlight companies doing right by their communities and taking bold stands. Google contractors vote to unionize. Overtime coverage is extended to 1.3 million low-wage workers. More and more companies are discussing ESG factors on earnings calls.

 

Fear of Commitment

 

 

As Climate Week comes to a close, we’ve seen some of the boldest commitments on climate action coming from the private sector. 

 

Amazon announced that it would aim to be carbon neutral by 2040. Target promised to become 100% renewable energy-powered by 2030. Google committed to the biggest corporate purchase of wind and solar energy in history, and Salesforce introduced its new Sustainability Cloud.

 

These moves signal a growing intent from the private sector to do more, but on climate change, the problem has never been about making pledges. It’s been the follow through. 

 

Read my take on these latest commitments, as well as a preview of our 2019 research on corporate climate targets.

 

Martin Whittaker

 

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Quote of the Week:

“The eyes of all future generations are upon you.”

Greta Thunberg to world leaders at the 2019 UN Climate Action Summit 

 

This Week in Stakeholder Capitalism

Each week, our analysts track the latest moves impacting our economy’s core stakeholders:

 

WORKERS

Google contractors in Pittsburgh voted to unionize this week – a historic moment for tech workers who have historically been reluctant to do so. – Kavya Vaghul

 

Amazon launched a new health care service for workers and their families – a virtual primary care clinic with an option for nurses to make home health visits. – Eric Chung

 

COMMUNITIES

Walmart expands its $1-a-day employee education benefits to include new health care degrees, including diplomas for pharmacy technicians and opticians. – Sarah Vieux

 

CUSTOMERS

In other news, Walmart announces that it will stop selling e-cigarettes in light of rising health concerns around vaping, especially among young people. – Steffen Bixby

 

LEADERSHIP

Boeing creates a safety committee on its board, following harsh criticism for not having directors with backgrounds in safety. – Polly Tao