Summer of ESG: From Mandate to Mindset
With Canada Day on July 1 (the day commemorates the anniversary of the Constitution Act in 1867, which consolidated three territories into the single nation of Canada) and Independence Day on July 4th– the summer season, complete with outdoor merriment, kicks into full swing. Asides from the mandatory cookout, many of us will hike into the mountains for some quiet time in the woods, unpack a trunkful of gear for a day at the beach or catch the sunrise from a kayak. Whatever your preferred form of R&R, you probably will bring sunscreen or bug spray along with numerous other necessities high on the list of potentially serious environmental, economic, and health effects.
Sustainability is a growing priority for investors, not only as consumers but also, for companies turning toward greener technologies and operational practices. Recently proposed ESG reporting standards from the ISSB, EU, UK and US, among others, means companies will begin to be subject to increasingly prescriptive, and potentially conflicting reporting requirements. (Even if the SEC takes no action on climate or other ESG disclosure proposals this year, some US companies will still have to report.) Last week, the Council and the European Parliament reached a provisional agreement on a corporate sustainability reporting directive (CSRD) that would require more detailed reporting on “sustainability issues such as environmental rights, social rights, human rights and governance factors.” The proposal aims to address shortcomings in the existing rules on disclosure of non-financial information, which was of insufficient quality to be properly taken into account by investors.
This comes on the heels of a new advisory warning by the EPA that even tiny amounts of some of PFAS chemicals found in drinking water may pose health risks. Known as “forever chemicals” because they take so long to degrade, scientists are finding PFAS everywhere—from landfills they seep into our soil, air, and drinking water. That's how PFAS end up in food, wildlife, and our bloodstream. They are still found in (some) cosmetics and personal care products, including popular brands of sunscreen in the US. These chemicals don’t just wash into the sea when you go for a swim–they also run into waterways when you shower them off at home.
As you enjoy the many benefits summer has to offer from lower stress to improved mental health, follow these eco-friendly summer tips to actively fight climate change while protecting your health and the environment:
Seek out “reef-friendly” independently-tested sunscreen brands that don’t contain oxybenzone, octinoxate and octocrylene. Avoid other chemicals, parabens and nano-parabens. Look for trusted third-party certifications like the seals awarded by 1% For The Planet or Downs’ strict Protect Land + Sea.
Reuse whenever possible—from plates to packaging, which now come in a bevy of environmentally friendly options.
Compost more and dispose less waste. Compost turns to mulch which you can use in the garden to reduce watering.
Refrain from using your dishwasher until you have a full load of dishes, and hold off running the washing machine until you have a full load of clothes.
Opt for a waterless car wash rather than a traditional car wash, which can use between 80 and 140 gallons of water. A waterless car wash will help the environment, while saving water and money at the same time.
