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The pace has quickened further in 2022 in response to then Prime Minister Yoshihide Suga’s April 2021 announcement that by 2030 the country’s emissions would reduce by 46% relative to 2013 levels. Adequate disclosure is critical if the ESG funds are to avoid “being ridiculed as “greenwashing”, it said.
Furthermore, expansion to new sectors, faster cuts of the supply of allowances and other climate policies like EU’s fit-for-55 or COP26 adoption of Article 6 are pushing prices up. Notice that compliance and voluntary carbon markets have interlinked movements, as seen in the 2013 drop in both voluntary and compliance credits.
Yeah, and I think that’s another thing like consumers and individuals also feel so powerless but the thing is, is like these companies are so scared, especially of young people like even the term greenwashing, this year is the first time I’ve ever even heard companies be like, oh, we don’t want to be accused of that.
At the most recent climate talks (COP26) Ukraine announced that it was joining the Powering Past Coal Alliance promising to phase out coal by 2035. To cite two examples, Russia led efforts to derail climate talks in Bonn in 2013 and more recently they conspired to undermine a positive outcome at COP24 in 2018.
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