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AstraZeneca’s first AI-monitored tree-planting programme

Posted on December 7, 2023 by dishanth

The Republic of Kenya is focused on regenerative action as it builds towards a more sustainable future through tree-planting—rebuilding ecosystems to sequester carbon dioxide from the atmosphere. We saw this in November 2023 where authorities granted a national holiday for the purpose of planting 100 million trees across the country, which will play a major role in regenerating its land, but also encouraging its people to take ownership of climate change.

In fact, tree planting is perhaps one of the most selfless ways to reduce climate change, by taking accountability as a nation rather than pinpointing global warming on a specific group. Implementing ways in which the population can contribute is one of the most impactful steps that gets everyone moving.

The role of AI in regenerative projects

AstraZeneca, the pharmaceutical research company, is also taking on such a challenge, only technology will be instrumental in its results. At this year’s COP28 in Dubai, the organisation uncovered its latest strategy for global impact—a tree planting project that will be monitored by artificial intelligence (AI).

It’s called the AZ Forest programme andis a project in collaboration with experts at Earthbanc and the Green Planet Initiative 2050 Foundation, to cover 3,500 hectares of land across six counties of Kenya adjacent to the Rift Valley.

“The link between planetary and human health is clear. Investing in our natural world through tree planting and conservation, and limiting deforestation, are some of the most effective preventative health steps we can take,” says Juliette White, Vice President Global Sustainability, AstraZeneca. “By expanding AZ Forest to Kenya, we are progressing our commitment to deliver reforestation at scale, with a science-led approach that benefits both the environment and local communities.”

AI will play a major role in assessing the health of the plants as they establish themselves as major, carbon-sequestering organisms, which will increase biodiversity across the country. This requires a feed of data in the form of drone footage and satellite imagery to paint a full picture of the plants’ life cycle.

Also showing appreciation for the efforts of the three organisations, Her Excellency Rachel Ruto First Lady of the Republic of Kenya says: “Climate change affects us all and tackling it requires concerted action from governments, individuals, and business.

“We welcome AstraZeneca’s approach to reforestation: working with local communities to ensure economic benefits for people that match the positive impact on the planet. This initiative will contribute towards Kenya’s goal to plant 15 billion trees over the next decade.”

Particularly in tree-planting, AI can play a major role in analysis and monitoring data as they grow. So, why is it important to monitor a natural process? Firstly, we imagine this is to encourage a successful growing period for the trees—reporting the success of AstraZeneca’s overall commitment to planting 200 million trees across six continents by 2030.

“This land regeneration project in Kenya is a very exciting opportunity that we are pleased to support in collaboration with our partners,” says Tom Duncan, CEO, Earthbanc.

“Earthbanc is committed to bringing private sector climate finance to accelerate and scale reforestation to meet the challenge of climate change. The AZ Forest initiative brings significant co-benefits with its focus on circular bioeconomy, sustainable communities, ecosystem health and sustainable markets. We are looking forward to this project launch and demonstrating that we can all play a part in the global effort towards planetary regeneration.”

AstraZeneca’s global portfolio of regenerative projects

This project builds upon AstraZeneca’s efforts in Ghana and Rwanda—to name its African projects—as well as Australia, Indonesia, France, the UK, and the US.

Australia: A collaboration with Greening Australia and One Tree Planted has resulted in over four million trees being planted, aiming for a total of 25 million. This includes 260 types of native trees, aiding in the protection of vulnerable and endangered wildlife.

Indonesia: Working with One Tree Planted and Trees4Trees, the initiative has led to the planting of over three million trees. Additionally, in 2022, over 13,000 farmers participated in agroforestry activities.

Ghana: Through the “Living Lab” project, in collaboration with CBA, over three million trees have been planted to enhance ecological and community resilience.

France: At the Palace of Versailles, 450 rare oak trees, lost in the storms of 1990 and 1999, have been replanted. These oaks create habitats for various wildlife like butterflies, birds, and mammals, increasing biodiversity and rejuvenating the famous Versailles gardens.

UK: In partnership with Forestry England and Borders Forest Trust Scotland, over 470,000 trees have been planted in Scotland and England. These efforts are focused on developing high-quality woodlands, contributing to physical and mental health through additional green spaces.

US: In a joint effort with the National Fish and Wildlife Foundation, over 100,000 trees have been planted, restoring more than 100 km of riverside woodland areas.

Source Sustainability

Company directors in Singapore urged to take climate change seriously or risk personal liability

Posted on April 28, 2021April 28, 2021 by dishanth

The risks that climate change poses to companies are now undeniable. Company directors are expected to factor these risks in their business activities and decisions, or may be personally responsible, a new legal opinion warns.

Singapore corporate directors are required to consider climate change risks as part of their duties to act in the best interests of the company, and failure to do so can result in legal action for their companies and themselves personally.

As climate change poses both physical and transitional risks to companies, directors should understand the activities of their companies that may impact, or be impacted by climate change and take necessary action to ensure that these issues are addressed.

These are the main findings of a new legal opinion by a team of independent legal counsel, titled Directors’ Responsibilities and Climate Change under Singapore Law. A legal opinion is an opinion from lawyers issued in letter form expressing legal conclusions on a matter.

“Given the seriousness and public concern over climate change, directors of Singapore companies must be aware that they will incur criminal and civil liabilities if they do not inform themselves on how their companies impact or are impacted by climate change and factor these into their decisions as directors,” said Jeffrey Chan, senior director of TSMP Law Corporation and lead author of the opinion.

Commissioned by the Commonwealth Climate and Law Initiative (CCLI), the main aim of the legal opinion is to examine the legal basis for directors and trustees to take account of climate change risks, and societal responses to climate change risks.

The background to the new legal opinion is the landmark Hutley opinion written in 2016, which discusses how Australian law requires company directors to consider, disclose and respond to climate change.

The Hutley opinion rose to significance as it shifted the Australian company directors’ understanding of climate change as a financial risk issue rather than just an environmental issue. It was subsequently endorsed by the Australian monetary authority, the Australian Securities and Investments Commission and the Australian Prudential Regulation Authority.

Ernest Lim, associate professor of NUS Law and co-author of the opinion explained: “As the impacts of climate change on Singapore become more visible, and legislative and regulatory responses strengthen, this affects the standards of conduct directors must meet to fulfil their duties.”

“Just last year the Monetary Authority of Singapore issued environmental risk management guidelines, setting out their expectations that directors and senior management of financial institutions should maintain oversight of environmental risk management and be assigned specific responsibilities in this regard. The legal opinion draws on these and other developments to find that climate issues are within directors’ responsibilities,” Lim added.

As the governance of a company, directors must ensure that their companies comply with all regulatory prescriptions relating to climate change. At the minimum, they should disclose the risks that climate change poses to the business of their companies, as required by the Singapore Stock Exchange Listing Rules.

Directors of Singapore companies must also be prepared for the possibility that they may be taken to court to compel them to take action to ensure that the business activities of their companies do not contribute to climate change, or if such activities are in progress, to terminate such activities.

Transitional business models are an imperative

Apart from legal action, companies that do not have a transitional business model to achieve net zero by 2050 risk stranded assets and erosion of shareholder value, warned Dilhan Pillay Sandrasegara, executive director and chief executive of Temasek International at the launch event of the legal opinion.

“If you don’t start today, you might find that your business model may no longer be relevant in the context of what a greener world may expect from companies,” he said.

Citing the example of the carbon pricing needed to limit global warming aligned with the Paris Agreement, he said that companies that do not factor in the possible increase in carbon tax will be greatly impacted down the road.

Although Singapore announced a carbon tax for this decade of S$5 to S$15 per tonne of greenhouse gas emissions, the government has said that they are going to reassess the carbon pricing.

“To achieve a 2 degree-world or even a 1.5-degree world, you need to have carbon pricing of between US$40-80 as of now, and then US$50-100 by 2030, assuming that you can half carbon emissions by then,” Pillay said.

“So if you’re not changing your business model to cater to a potential carbon pricing of that magnitude, you are going to see an erosion of value of your company. That could have serious implications across the different stakeholders that you’re engaged with,” he said.

In addition, nine out of 10 of the asset managers in the world have decided to put in place environmental, social and governance (ESG) frameworks to measure the performance of each company.

“Climate change risks are going to factor into the asset managers’ decisions about whether to invest in a company or not. If you’re not thinking about it, you might find that capital markets will punish you down the road,” he said.

“It’s very difficult for boards to consider all the risks that they face. But if you can get through the Covid-19 situation, you still have climate risk as the biggest existential problem with your business model. So directors have to come up with proper transition plans,” he warned.

By Sonia Sambhi

Source Eco Business