Economist Impact
Climate Impact & Sustainability Data (2022)
Reporting Period: 2022
Environmental Metrics
ESG Focus Areas
- Marine Chemical Pollution
- Climate Change
- Biodiversity
Climate Goals & Targets
Long-term Goals:
- Zero-pollution ocean
Environmental Challenges
- Marine chemical pollution is invisible, hindering understanding of its scope and significance.
- Synthetic chemicals production is increasing rapidly, with many new chemicals being created and circulated.
- Production is shifting to middle- and lower-income countries with limited regulations.
- Lack of research on the effects of most chemicals on human health and the environment.
- Much of the new damage is in poorer countries, decreasing visibility of the problem.
Mitigation Strategies
- Stricter regulations on pollution and combating regulatory arbitrage.
- Producers adhering to common standards and considering end-of-life impacts.
- Green chemistry innovation to design less toxic and less polluting products.
- Collaborative innovation between chemicals companies and their customers.
- Extended producer responsibility for chemicals after sale.
- Improved processes and practices in agriculture, aquaculture, and waste management.
- Water quality trading schemes to create financial incentives to lower pollution.
Supply Chain Management
Responsible Procurement
- Demand for greater transparency about polluting and hazardous inputs into products.
- Improved processes and practices for chemicals users in agriculture, aquaculture, and waste management.
Climate-Related Risks & Opportunities
Transition Risks
- Regulatory and financial pressures on fossil fuel-based operations.
Opportunities
- Green chemistry innovation
- Development of sustainable products and processes
UN Sustainable Development Goals
- SDG 14: Life Below Water
Addressing marine chemical pollution is vital to achieve SDG 14.
Sustainable Products & Innovation
- Green chemistry products
- Circular economy products