Environmental Lip Service Abounded During 2nd Quarter Corporate Earnings Calls
Corporate action to tackle climate change ranked among the top themes on S&P 500 companies’ Q2 earnings calls. Why it matters: July was the hottest month on record. Last week’s UN-sponsored climate report projected the Earth will potentially cross a crucial temperature threshold less than a decade from now.
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Among the standout remarks were those who cited specific actions and results.
Qualcomm: “As part of our ongoing ESG efforts, we recently started purchasing 100% renewable solar energy for our San Diego headquarters.”
Interpublic Group of Companies: “[We] announced an action plan that consists of 3 climate roles: committing to set a science-based target; sourcing 100% renewable electricity by 2030; and joining The Climate Pledge, co-founded by Amazon in Global Optimism.”
Caterpillar: “Our 2020 sustainability report highlights 7 new environmental, social and governance goals we’ve set to achieve by 2030. … One of these goals is to ensure that 100% of Caterpillar’s new products through 2030 will be more sustainable than the previous generation.”
Ed. - What the fuck does this even mean?!?
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https://www.axios.com/climate-change-earnings-calls-q2-0433469b-8a7b-4043-b222-54130b95262f.html