World’s largest private firms fail to set climate targets: report

A 50 meter anamorphic field painting of a girl holding the Earth, created by artists from 'Sand In Your Eye' to mark Earth Day, adorns a hillside above Hebden Bridge, north west England on April 19, 2024. (AFP)
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Updated 22 April 2024
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World’s largest private firms fail to set climate targets: report

  • Several jurisdictions including the United Kingdom have adopted climate disclosure regulations

PARIS: Only 40 of the world’s 100 largest private firms have set net-zero carbon emissions targets to fight climate change, according to a report released Monday, lagging far behind public companies.
But for the world to meet the 2015 Paris Agreement to limit global warming 1.5 degree Celsius, all companies need to reduce their planet-heating emissions, the report by the group Net Zero Tracker noted.
The lack of market and reputational pressures on private firms compared to those publicly-listed, along with an absence of regulation are to blame for their slow uptake of climate commitments, John Lange of Net Zero Tracker told AFP.
“I think things are changing on all three of those fronts,” he added.
The report compared 200 of the world’s largest public and private companies based on their reported emissions reductions strategies and net-zero targets.
It found that only 40 of the 100 private firms assessed had net zero targets, compared to 70 of 100 publicly-listed companies.
Of the private companies that have set targets, just eight have published plans on how they will meet them.
“A pledge without a plan is not a pledge, it is a naked PR stunt,” the report said.
Only two firms — furnishing giant Ikea and US engineering giant Bechtel — ruled out using controversial carbon credits to achieve their net-zero goals, the report said.
Carbon credits allow businesses to offset their emissions by directing money toward a project that reduces or avoids emissions, such as protecting forests, but critics say they allow companies to keep polluting.
Meanwhile, none of the eight fossil fuel companies included in the report was found to have a net-zero target, compared with 76 percent of the sector’s largest public firms.
There was also little improvement in the figures compared with a previous analysis done in 2022, “despite a massive uptick in regulation around the world,” Lang said.
Several jurisdictions including the United Kingdom have adopted climate disclosure regulations.
Others have regulations on the horizon, with business hubs of California and Singapore requiring greenhouse gas emissions reporting from 2027.
The European Union also introduced two climate regulations — the Corporate Sustainability Reporting Directive (CSRD) and the Corporate Sustainability Due Diligence Directive (CSDDD) — which will soon require thousands of large companies to report their climate impacts and emissions, and to take action to curtail them.
“We’re trying to get private firms to understand what’s coming for them,” Lang said.
The EU policies will have far-reaching effects in particular, targeting firms not only based in the bloc but those that may be headquartered elsewhere with branches or subsidiaries within the member states.
Yet two European private firms, including French hypermarket chain E. Leclerc, were singled out in the report for having set any emissions reduction targets.
E.Leclerc told AFP that the company has made efforts toward more sustainable practices like eliminating the use of single-use plastic bags, and is “committed to setting near-term company-wide emissions reduction targets.”
But with the enforcement of EU regulations looming, firms will not be able to “dodge” climate targets much longer, Sybrig Smit of the NewClimate Institute told AFP.
“It’s actually quite watertight. If companies want to do business in Europe, they are going to have to face the consequences,” she said.
The firms analyzed account for roughly 23 percent of the global economy, with the majority based in either China, the United States or EU states — the biggest emitters of greenhouse gases, Lang said.
Any changes the firms make to meet new regulations will have substantial benefits for the environment.
“They have such a trickledown effect. Whenever such a big company is implementing something real, it will have a huge effect on the rest of the sector that they operate in,” Smit said.


Former Thai Prime Minister Thaksin Shinawatra will be indicted for royal defamation, prosecutors say

Updated 6 sec ago
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Former Thai Prime Minister Thaksin Shinawatra will be indicted for royal defamation, prosecutors say

  • The former prime minister will also be indicted for violating the Computer Crime Act
  • Thaksin had been in self-imposed exile since 2008, but returned to Thailand in August last year
BANGKOK: Thai prosecutors said Wednesday former Prime Minister Thaksin Shinawatra will be indicted for defaming the monarchy, three months after he was freed on parole on other charges.
Thaksin will not yet be indicted because he had filed a request to postpone his original appointment on Wednesday with proof that he has COVID-19, Prayuth Bejraguna, a spokesperson for the Office of the Attorney General, said at a news conference.
The attorney general’s office scheduled a new appointment for Thaksin’s indictment on June 18, Prayuth said, adding that Thaksin will also be indicted for violating the Computer Crime Act.
Thaksin had been in self-imposed exile since 2008, but returned to Thailand in August last year to begin serving an eight-year sentence. He was released on parole in February from the hospital in Bangkok where he spent six months serving time for corruption-related offenses.
On his return, he was moved almost immediately from prison to the hospital on grounds of ill health, and about a week after that King Maha Vajiralongkorn reduced his sentence to a single year. Thaksin was granted parole because of his age — he is 74 — and ill health, leaving him free for the remainder of his one-year sentence.
His return was interpreted as part of a political bargain between his Pheu Thai Party and the conservative establishment — longstanding rivals — to stop the progressive Move Forward Party from forming a government following its victory in last year’s general election.
After his return, the attorney general’s office said it had revived an investigation into whether Thaksin almost nine years ago violated the law against defaming the monarch, a crime punishable by up to 15 years in prison.
Thaksin was originally charged in 2016 with violating the law for remarks he made to journalists when he was in Seoul, South Korea, a year before that, but the investigation could proceed only after he was presented with the charge in person in the hospital in January, officials said. Thaksin had denied the charges and submitted a statement defending himself.
Prosecutor’s spokesperson Prayuth said there is enough evidence for the attorney general to indict Thaksin. He said the prosecutors have already prepared their statement and documents to present to the court next month.
Since his release, Thaksin has maintained a high profile and is believed to be wielding influence in the government led by Prime Minister Srettha Thavisin. One analyst believes Thaksin’s growing influence has angered the ultra-conservatives and that the indictment is their response.
“It is designed to keep Thaksin under control. This is keeping him on a leash. If he doesn’t behave then this charge can be activated and could land him in jail. This is to curtail his movement and his maneuvers and to remind him, sending him a signal in a way, to know who’s in charge and to know he should not overstep the boundary,” said Thitinan Pongsudhirak, at professor at Bangkok’s Chulalongkorn University.

South Africans start voting in election that could see ANC lose majority

Updated 33 min 41 sec ago
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South Africans start voting in election that could see ANC lose majority

  • Voters are electing nine provincial legislatures and a new national parliament
  • More than 27 million people registered to vote out of a population of roughly 62 million

JOHANNESBURG: South Africans started voting on Wednesday in an election that could mark a big political shift if the governing African National Congress party loses its majority as opinion polls suggest.
Voters are electing nine provincial legislatures and a new national parliament, which will then choose the country’s next president.
If the ANC gets less than 50 percent of the national vote it will have to seek one or more coalition partners to govern the country, the first such alliance in the 30 years since it swept to power with Nelson Mandela as its leader at the end of apartheid.
Voting stations opened at 0500 GMT and will close at 1900 GMT, with more than 27 million people registered to vote out of a population of roughly 62 million.
South Africa’s electoral commission is expected to start releasing partial results within hours of voting stations closing. The commission has seven days to announce final results.


Philippines president says new China coast guard rules ‘worrisome’

Updated 13 min 22 sec ago
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Philippines president says new China coast guard rules ‘worrisome’

  • China has maritime sovereignty disputes with the Philippines and other claimant countries in the South China Sea
  • New rules effective June 15 that would enforce a 2021 coast guard law and allow detention of foreigners suspected of trespassing

MANILA: Philippines President Ferdinand Marcos Jr. said on Wednesday new rules outlined by China’s coast guard that could result in the detention of foreigners in the South China Sea were an escalation and “worrisome.”

China, which has maritime sovereignty disputes with the Philippines and other claimant countries, has issued new rules effective June 15 that would enforce a 2021 coast guard law and allow detention of foreigners suspected of trespassing.

China routinely accuses vessels of trespassing in areas of the South China Sea that fall inside the exclusive economic zones of its neighbors and has clashed repeatedly with the Philippines in the past year.

“The new policy of threatening to detain our own citizens, that is different. That is an escalation of the situation,” Marcos told reporters while on a state visit in Brunei.

The Philippines “will use any point of contact with China to stop aggressive actions” and allow Filipino fishermen to fish in the South China Sea, Marcos said.

If aggressive actions are managed, Marcos said, “then we can go all about our business in a peaceful way.”

Marcos has taken a tougher line than his predecessor over China’s actions in the South China Sea, emboldened by support from defense ally the United States, as well as Japan and Australia.

China’s embassy in Manila did not immediately respond to a request for comment.

Beijing claims jurisdiction over most of the South China Sea, a conduit for more than $3 trillion in annual ship-borne trade.

In 2016, an international arbitral tribunal said China’s vast claims had no basis under international law, a decision Beijing has rejected. China insists historic records and old maps make clear it has sovereignty over most of the sea and many islands there.


Clashes erupt at Israeli embassy protest in Mexico

Updated 29 May 2024
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Clashes erupt at Israeli embassy protest in Mexico

  • Around 200 people joined the “Urgent action for Rafah” demonstration

MEXICO CITY: Clashes broke out Tuesday between police and protesters outside the Israeli embassy in Mexico, rallying against the country’s military offensive in the southern Gazan city of Rafah, AFP journalists said.
Some protesters covered their faces and threw stones at riot police who blocked their path to the diplomatic complex in the city’s Lomas de Chapultepec neighborhood.
Around 200 people joined the “Urgent action for Rafah” demonstration, about 30 of whom started to break down barriers preventing them from reaching the Israeli mission.
Police officers deployed tear gas and threw back the stones hurled at them by protesters.
The demonstration was called in response to an Israeli strike which ignited an inferno in a displacement camp outside Rafah, killing 45 people according to Palestinian officials.


Indian capital records highest-ever temperature at 49.9°Celsius: weather bureau

Updated 29 May 2024
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Indian capital records highest-ever temperature at 49.9°Celsius: weather bureau

  • New Delhi authorities have also warned of the risk of water shortages as the capital swelters in an intense heatwave
  • Warnings on heat’s impact on health, especially for infants, the elderly and those with chronic diseases

NEW DELHI: Temperatures in India’s capital soared to a record-high 49.9° Celsius on Tuesday, the government’s weather bureau said.
The India Meteorological Department (IMD), which reported “severe heat-wave conditions,” recorded the temperatures at two Delhi suburbs stations at Narela and Mungeshpur.
Forecasters predict similar temperatures on Wednesday.
In May 2022, parts of Delhi hit 49.2° Celsius, Indian media reported at the time.
India is no stranger to searing summer temperatures.
But years of scientific research have found climate change is causing heatwaves to become longer, more frequent and more intense.
New Delhi authorities have also warned of the risk of water shortages as the capital swelters in an intense heatwave — cutting supplies to some areas.
Water Minister Atishi Marlena has called for “collective responsibility” to stop wasteful water use, the Times of India newspaper reported Wednesday.
“To address the problem of water scarcity, we have taken a slew of measures such as reducing water supply from twice a day to once a day in many areas,” Atishi said, the Indian Express reported.
“The water thus saved will be rationed and supplied to the water-deficient areas where supply lasts only 15 to 20 minutes a day,” she added.
The IMD warned of the heat’s impact on health, especially for infants, the elderly and those with chronic diseases.
At the same time, West Bengal state and the northeastern state of Mizoram have been hit by gales and lashing rains from Cyclone Remal, which hit India and Bangladesh on Sunday, killing more than 38 people.
Bangladesh’s Meteorological Department said the cyclone was “one of longest in the country’s history,” blaming climate change for the shift.