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🌱 Exciting News for Sustainable Future 🌱 We're thrilled to see the Science Based Targets initiative (SBTi) taking a progressive step towards a greener tomorrow! The recent decision to integrate carbon credits (environmental certificates) more extensively into net-zero targets offers a game-changing opportunity for companies striving for environmental sustainability. At Resa Business Audit GmbH, we believe in harnessing innovation and collaboration to drive meaningful change. With this development, businesses can now adopt more flexible yet impactful strategies in their journey towards carbon neutrality, especially around GHG Scope 3 emissions. Let's continue working together to build a more sustainable world! #ESG #Sustainability #CarbonNeutrality #SBTi #ClimateAction #Scope3🌍✨ Link to the article: https://lnkd.in/ecxFnxpu

Sustainability is a multifaceted concept, spanning a vast landscape. Within this dynamic realm, we have previously identified three key themes: climate, nature and disclosure, all of which continue to see developments. As the regulatory landscape continues to evolve, its impact resonates throughout the markets where our clients operate. Stephanie Maier, Global Chief Sustainability Officer at GAM Investments, delves into the latest sustainability developments, exploring topics such as biodiversity credits, mandatory reporting and labelling. Read now: https://ow.ly/mmsz50QJRHS Follow GAM Investments and subscribe to our newsletter for more insights: https://ow.ly/icwN50Qhke3 #SustainableInvesting #ESG #Biodiversity #COP28 For professional investors only. Capital at risk.

Sustainability voices are divided over a statement signalling that the Science Based Targets initiative (SBTi) could soon allow the use of #CarbonCredits for #Scope3 decarbonisation. While the potential policy change was hailed by those working to develop a high-integrity carbon market (#VCM), others such as NewClimate Institute warn that too much flexibility could "nullify the already insufficient climate commitments of most companies". Perhaps most worryingly, the SBTi’s own staff has published a letter expressing “deep concern about the content of the statement and the process by which it was developed and released”. Read the article below and let us know your thoughts in the comments! https://lnkd.in/dPavp6Pa #CarbonOffsetting #ClimateTargets #NetZero #ChiefSustainabilityOfficer

Carbon credits for #Scope3 decarbonisation: yay or nay? I'm super interested in hearing your thoughts on this as I'm observing some division in sustainability circles over the idea that the #SBTi could soon allow the use of carbon credits for Scope 3 targets. #CarbonCredits #CarbonOffsets

The Taiwan Stock Exchange joined hands with CDP to host the "Building a New Carbon Era with Sustainable Knowledge" press conference, which was a complete success March 25, 113, Republic of China Department of Corporate Governance The Taiwan Stock Exchange joined hands with CDP to host the "Building a New Carbon Era with Sustainable Knowledge" press conference, which was a complete success According to the 2024 Global Risks Report released by the World Economic Forum (WEF), the world will face the most severe risk factors in the next 10 years, with environmental risks ranking first. In order to assist the sustainable development of Chinese enterprises and comply with international norms, this year the stock exchange and CDP, the world's largest carbon disclosure non-profit organization, and its Taiwanese partner BCSD Taiwan, jointly held a series of publicity conferences on "Building a New Carbon Era with Sustainable Knowledge", which was unveiled at the first "CDP Taiwan Press Conference" on March 22. prelude. A total of 360 people participated in the event, and the response was very enthusiastic. In his speech at the "CDP Taiwan Press Conference", Chairman Lin Xiuming of the Stock Exchange said that climate change has become an important issue of global concern. China has set a 2050 net-zero transformation goal, and companies are facing various "environmental, social and economic" impacts and challenges. The Stock Exchange hopes to help companies pay attention to carbon management issues by promoting participation in the Carbon Disclosure Project (Climate Disclosure Project) , based on which companies can assess risks and opportunities facing climate change in the future and formulate response strategies. According to CDP statistics, the number of entrepreneurs in Taiwan participating in the CDP questionnaire has been growing year by year. In 2023, 841 sub-enterprises filled out the questionnaires on climate change, water security and forests, and 20 A-level enterprises have outstanding performance in the CDP evaluation. , including 18 companies in the "climate change" field and 10 companies in the "water security" field, of which 8 companies received A ratings in both major aspects at the same time, breaking China's award-winning record in CDP. This time, Chairman Lin of the Stock Exchange presented the award to A-level companies in recognition of their outstanding performance in sustainable information disclosure. CDP Chief Impact Officer Nicolette Bartlett and her team shared the analysis of the current situation of CDP's 2023 questionnaire and its 2024 revision. content, which will provide companies with a simpler and easier-to-understand version of their environmental information. In addition, business representatives, accounting firms and financial industry representatives held discussions to help small and medium-sized enterprises reveal their strategies and actions to promote sustainable development. This event will help ente...

🎢 Last week saw some big carbon market announcements, bundled in a very bureaucratic and time consuming process. Here is a quick elaboration in case you're following #article6 of the #parisagreement Some background: 📜 the Paris Agreement is complimented by a number of articles, spelling out 'how to make things happen' 👯🏻 Article 6 is focused on various ways to partner, recognizing that each country on its own will have a hard time reaching the targets in a cost effective and timely way 👯🏻 🚗 Article 6.2 outlines how "cooperative approaches" between and among countries can be structured, for example how Switzerland can team up with Thailand and fund some of the EV infrastructure Thailand wants to put in place as part of their NDC (national determined contribution) 👯🏻 🛍️ Article 6.4 establishes a centralized UNFCCC administered offset mechanism where buyers and sellers can interact, the rules for this have taken years to negotiate (10 and counting..). Questions remain, for example, how this mechanism will support interoperability with existing carbon markets. 👯🏻 🧰 Article 6.8 addresses "non market based approaches", think technology transfer and capacity building. 🎢 🎢 Now with context - - last week, we had a breakthrough. The Article 6.4 Supervisory Body approved and released 3 decisions: 1. Standard for Development and Assessment of Article 6.4 Mechanism Methodologies (the rules for how methodologies are designed and evaluated) 2. Standard Requirements for Removals Under the Article 6.4 Mechanism (how removals will be treated and accounted for from all anthropogenic removals of emissions) 3. Tool for Sustainable Development impact assessment, which is mandatory for all Article 6.4 activities (how to assess the sustainable development impact of Article 6.4 activities) Alexia Kelly's post - below - clarifies that the guidance largely tracks to the requirements of the The Integrity Council for the Voluntary Carbon Market (ICVCM) and indicates a drive towards a higher integrity, global benchmark and interoperable carbon market. Great news! It is important to remember however, that the Paris Agreement is structured around sovereign, pledge-based domestic actions. It does not provide mandatory provisions, or guidance for corporate action. I believe we will fall short unless we move towards more mandatory requirements, and more stringent requirements on corporate net zero action. David Antonioli, Dirk Forrister, Allister Furey, Stephanie Russo, Alvin Lee, Swati Mandloi, Duncan van Bergen, Dale Hardcastle, Wei Mei Hum, Rich Gilmore, Diego Saez Gil, Jen Stebbing, Juan David Duran Hernandez, Benedikt von Butler, Mark Kenber, Lydia Sheldrake Ely Sandler, Kelley Hamrick, Natalia Dorfman Anna J. LEHNER Antti Vihavainen, Camille Pêtre, Eilís O’Keefe, Lorna Ritchie, Ana Haurie Alexandra Soezer Melissa Lindsay Molly Peters-Stanley Olga Gassan-zade Martin Hession Pedro Martins Barata Kelley Kizzier Alexa Kleysteuber

Anna Lerner Nesbitt, thank you for this fair summary & update on𝐏𝐚𝐫𝐢𝐬 𝐀𝐠𝐫𝐞𝐞𝐦𝐞𝐧𝐭 𝐀𝐫𝐭𝐢𝐜𝐥𝐞 𝟔 related developments. Let me add some further context: Article 6 is  indeed spelling out 'how to make things happen' in an entirely VOLUNTARY international ( sovereign) cooperation setup. Art6 is not only VOLUNTARY, but the PA also lacks the fundamental incentives for sovereign cooperation due to the fact you so well described as "the Paris Agreement is structured around sovereign, pledge-based domestic actions. It does not provide mandatory provisions, or guidance". Important to note that the PA not only DOES NOT provide such structures/incentives/penalties for corporate action, but also lacks such mechanisms for sovereigns to cooperate. Sadly, we have built the Paris Agreement architecture without effective rules, incentives and corresponding penalties for international cooperation. I have added some thoughts to Alexia Kelly's quoted post on how such features tragically cripples DEMAND for units to be generated under Art6 ( no matter how high quality and integrity the underlying standards are!). Intriguingly, the Kyoto Protocol had some effective cooperation mechanisms but lacked real ambition. The Paris Agreement lacks the international cooperation & coordination machinery, but has ambition (i.e 1.5 degree & well below 2 degrees though this coming without sticks / penalties makes this ambition more of wishful thinking than a real target). Neither of them delivers with the speed and on the scale what the climate crisis requires. Note that the ‘opportunity cost’ of working on Art 6.4 is significant: potential Host Countries and donors will spend substantial resources on something that will and cannot work on scale! The earlier the better we reform international climate change mitigation governance. The Paris Agreement may be better than its ‘parent’, the UN Climate Change Convention, but it is simply not good enough! The PA’s Article 6 aimed at enhancing voluntary action is among its weakest components. #climatechange #climatecrisis #netzero #article6 #VCM #governance #COP29 #carbonmarkets #carbonpricing #carboncredits

Super useful summary post as always from Anna - do read if you want to make sense of the recent headlines on this. Great links in the comments below her post too.

Only 28% of governments currently mention circular economy as a way to reduce GHG emissions in their national climate plans, or NDCs. According to the current NDC pathway, the overall reduction of GHG emissions is only expected to be 2% by 2030. There is a great urgency to raise ambition in the next round of countries’ NDCs due in 2025. That is why UNEP’s One Planet Network together with UNDP and the UNFCCC secretariat co-organised an Accelerator Session ‘The Time is Now: Building Circularity into Nationally Determined Contributions (NDCs)’ at the Permanent Representation of the Netherlands to the EU during #WCEF2024.  The session highlighted the opportunity of circular economy as a means to complement existing GHG emission reduction efforts such as renewable energy and energy efficient strategies, to raise ambition and strengthen NDC targets, especially in hard-to abate and industrial sectors.  Member States welcomed the joint UN ‘Building Circularity into NDCs – A Practical Toolbox’ (https://lnkd.in/e2iFURid) as a practical supporting tool for countries to reduce greenhouse gas (GHG) emissions through circularity in national climate plans.  Stakeholders including governments and UN agencies learned from the preliminary results and opportunities detailed by the three countries piloting the toolbox – Ecuador, Viet Nam, and Zimbabwe - as well as from countries around the world on their challenges and plans for integrating circular economy interventions in their NDCs.  A special and warm thank you to Joss (Jocelyn) Blériot for his excellent and smooth moderation of the session. Read more at: https://lnkd.in/ehADbmvP Joost van den Broek Rik den Hoedt Alana Craigen Katie Tuck Diaz Manon Sennéchael Amandine Nizet Cassie Flynn UNDP UNDP Climate kenichi kitamura Jelmer Hoogzaad Peter Desmond Robbert Moree Arnoud Passenier Dylan Bos Stelios Pesmajoglou Timon Lepold Kari Herlevi Mika Sulkinoja Wessel Dikker Hupkes Joss (Jocelyn) Blériot Jorge Laguna-Celis Josefien van de Ven Taco Westerhuis Sitra Ellen MacArthur Foundation Ministerie van Infrastructuur en Waterstaat Hannie Meesters World Circular Economy Forum WCEF UN Environment Programme