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In 2023, we purchased carbonoffset credits from 16 projects that neutralized approximately 7% of our Scope 3 emissions,” Maple Leaf spokespeople tell Corporate Knights – specifically for products that carry the “carbon zero” marketing label. That includes emissions from animals and meat purchased from suppliers. “In
In line with last year’s survey findings, strategies that focus on carbon removal credits are favored by respondents from larger companies, whereas smaller companies are more likely to have strategies that focus on carbon reduction or avoidance credits.
The European Council today announced today that it has reached an agreement on a series of proposals aimed at protecting consumers from greenwashing, setting requirements for companies to substantiate and verify claims and labels regarding the environmental attributes of products and services.
While almost a third of those questioned (33%) believed carbonoffsetting is a viable strategy for achieving net-zero emissions, just 37% have employed it as a strategy to reduce their businesses’ environmental impact. The survey gathered data from 1,498 professionals from across the environmental services industry from April-May 2024.
AB 1305: Voluntary Carbon Market Disclosures Business Regulation Act For its part, AB 1305 will impose new disclosure requirements on companies - public and private, of all sizes - that make net-zero GHG emissions, GHG emissions neutrality, or similar claims.
Those guidelines are due to be released in 2024. Now, it’s being taken up by a multilateral panel that is expected to report in 2024 if all goes well. Carbon Capture Backed by CarbonOffsets? In 2020, a blistering analysis showed Canada leading the G20 countries in per capita public financing to oil and gas.
The voluntary carbon-offset market is rapidly evolving and is expected to grow to around $250 billion by 2050 from only $2 billion in 2020. 5 This will require financial institutions to publish climate disclosures that align with the TCFD framework beginning in 2024, using a phased approach.
In 2022, the voice against “greenwashing” practices was clear and loud. On top of that, they will be creating plans to comply as soon as by the 2024 reporting cycle (e.g. Figure 2: Word Greenwashing rated 100 in popularity in 2022 – source Google Trends. 2022 Sustainability Summary.
Dr Torsten Schwarze, Partner at Morgan Lewis, explains how two EU directives will shape Europe’s legal framework to restrict greenwashing. ESG compliance is becoming increasingly important for companies, and the development of technologies and products to help reduce their carbon footprint has become a priority for many.
As the fallout continues over the Science Based Targets initiative’s approach to offsets, is the net zero target-setting landscape for corporates fit for purpose? In 2024, the number of listed companies with a climate commitment validated by the Science Based Targets initiative (SBTi) jumped to 20% from just 12% in 2023.
German sportswear company adidas committed to using only recycled polyester across its supply chain by 2024. As such, net-zero could soon be in the crosshairs of activists eager to point out corporate greenwash. Adidas and H&M Group teamed up for a project to recycle old garments and fibers into new items for major brands.
And there are wider issues around the VCMs already in operation, such as credit pricing, third-party verification and reducing the risk of greenwashing. . While the ETA will offer a “fixed price” for corporates, there are concerns that too low a price could reduce the quality of the credits and expose the market to greenwashing risk. .
Carbonoffsets are ‘riddled with fraud.’ Solving credibility issues may require a greater overhaul of carbon markets. Carbon insetting Business-speak for companies reducing emissions in their own supply chains; an alternative to carbonoffsetting. Can new voluntary guidelines fix that?
Outside, temperatures can soar to plus 30C, but the L+Snow resort, which opened in September 2024, is the worlds largest indoor ski resort. According to WMO, global temperatures between January and September 2024 were 1.5C above the pre-industrial average. Its not enough for individual resorts to act alone.
Anti-ESG proposals rocket in number but gather limited support, Kamala Harris picks a climate-friendly running mate, and the SBTi board backtracks on carbonoffsetting. Carbonoffsets: in or out? For climate campaigners who believe carbonoffsetting is basically greenwashing, this was a disappointing development.
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