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In the climate world, aviation is referred to as a hard-to-abate sector, alongside other heavy industries — shipping, aluminum, cement and concrete, among others — that aren’t easy to decarbonize through redesign or electrification. body, set a course for airlines to offset emissions of international flights above a 2019-20 baseline.
This cap serves as a catalyst for decarbonization, so that regulated participants either strive to avoid purchasing additional allowances or ultimately pay increased prices for securing them. CCMs offer these voluntary decarbonizers a great deal of certainty.
The lawsuit comes as companies globally face increasing scrutiny of their environmental sustainability claims, with consumers and regulators increasingly on the lookout for greenwashing, or claims that exaggerate or misrepresent the impact or sustainability profile of products and business operations.
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.
The colloquial term for this phenomenon, particularly as it relates to sustainability, is greenwashing, and it’s far from novel. Here’s a quick rundown: Greenwashing is a practice used by businesses to represent themselves as more sustainable than they truly are. Greenhushing refers to a company’s refusal to publicize ESG information.
This week in ESG news: Microsoft signs one of the largest ever carbon removal deals; Deloitte survey finds over 40% of Gen Z & Millennials would switch jobs over climate concerns; EU Parliament proposes ban on green claims based only on carbonoffsetting; Morgan Stanley raises $500 million for climate solutions fund; most companies planning to (..)
The European Union, China, the United Kingdom and about 20 other countries are developing such taxonomies as a way of discouraging greenwashing and channelling investment to the climate transition. If this is the case, they likely won’t qualify for the transition label (and should not proceed in any case).
SB 253: Climate Corporate Data Accountability Act The common phrase in the GHG accounting world “you can't measure what you can't track" underlines the fact that decarbonization action starts with GHG emissions accounting. In this article, we'll summarize each new law as well as outline the likely impact on businesses.
This is generally a voluntarily self-imposed deadline, usually decades away, by which the institution’s emissions will not necessarily actually reduce to zero, but rather by which they will at least be ostensibly canceled out by carbonoffsets. Cities’ pledges only increased by 8 percent.)
Sustainable aviation fuel is seen as one of the key tools to help decarbonize the aviation industry, which currently accounts for 2-3% of global greenhouse gas (GHG) emissions. United Airlines has committed to fully reduce greenhouse gas emissions by 2050 without relying on carbonoffsets. This fund is unique.
Canadian LNG producers have long had their eye on Article 6, a deeply contentious, nine-paragraph section of the Paris deal meant to support international carbon trading as a way to drive down emissions. Carbon Capture Backed by CarbonOffsets? those are the pieces that we still need to find.”
The initial standard, issued in 2021, did not permit carbon credits for emissions reduction. Additionally, carbonoffsetting markets faces a series of challenges, however, with participants often unable to differentiate between high and low quality projects with insufficient or inconsistent data to assess the effectiveness of projects.
The world’s leading authority on corporate climate plans has dealt a blow to the carbon-offset industry, signalling that it objects to corporations using carbon credits in place of emission reductions in their own supply chains.
Amid high-profile greenwashing scandals, access to reliable sustainability information emerges as the second biggest barrier to sustainable consumer behavior, with just one in ten consumers finding it very easy to access reliable sustainability information. However, 44% say they would “probably” pay a premium for green products. .
Two events will increase corporate Net-zero programs credibility and separate climate action from pure greenwashing: The launch of the first science-based Net-Zero standard by SBTi. Among several requirements, companies will need to reach deep decarbonization of 90-95% before 2050. 2 – CarbonOffset Markets price Hike.
Businesses must close the ‘Say : Do’ gap; the greenwashing space between their environmental pledges and (lack of) actions to meet them Paul Polman, former Unilever CEO. To increase carbon removals , the company must promote carbon removals projects, also called carbon sinks, within its operations or in its value chain.
Despite their growing popularity as a way for businesses and other carbon emitters to offset their own emissions by buying credits from other entities that reduce or remove carbon from the atmosphere, recent research has called their effectiveness into question.
Nearly all with net zero goals said that they have a plan to deliver their targets, with top strategies including tilting mostly towards low emitters (25%), shifting capital to high emitters that are decarbonizing (25%), or a combination of both strategies (28%).
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?
Getting to net-zero – without greenwashing. The last climate conference, COP26 in Glasgow, Scotland, nearly fell apart over frustration that international finance wasn’t flowing to developing countries and that corporations and financial institutions were greenwashing – making claims they couldn’t back up.
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