Resonance’s Post

To tackle climate change, we need carbon markets that are transparent and accountable. Our very own Shanna Tova O'Reilly shares her insights on the newly announced USAID Safeguarding Carbon Markets Challenge- designed to support innovations that will prevent corruption and improve transparency. #carbonmarkets #climatefinance

[ESG + Compliance] Transparency international has launched a different kind of map (https://lnkd.in/dCVZhQXX): in it, it is highlighted countries that had corruption schemes that caused a negative environmental impact. TI has, so far, investigated 80 cases around the globe. Three of them happened in Brazil and are: 1) September 2021: BRAZIL'S [Former] ENVIRONMENTAL MINISTER [Ricardo Salles] CAUGHT UP IN ILLEGAL LOGGING CASE (https://lnkd.in/dbBRZTVx) 2) September 2021: RIO DE JANEIRO BUS COMPANY KICKBACK SCHEME (https://lnkd.in/drH-M-fr) 3) October 2023: MOTIVATED BY CORRUPTION, LAND GRABS CONTRIBUTE TO INCREASED CARBON EMISSIONS AND LAND RIGHTS VIOLATIONS IN BRAZIL'S SAVANNAH (https://lnkd.in/dBr4GdZh) That is just a fraction of the problem and should be a reminder to those of us that work with Compliance that a bad Corporate Governance is bound to cause negative impacts on the Society and the Environment. Be it corruption or any other sort of wrongdoing, the consequences of it can leak to society and cause disruptive consequences. Compliance is not just cost. ESG is not just cost. They are invaluable to the company, to employees, and to society. Let us work together to build a better present. #compliance #esg #anticorruption #corporategovernance

🔵 New Report! We have analysed almost 80 cases of climate corruption around the world. The impact of corruption in climate finance goes beyond mitigation and adaptation and is the catalyst for human rights abuses, weakened democratic processes and organised crime. The report analyses corrupt behaviours, enabling factors and the negative impacts of cases in the Atlas, and makes recommendations based on this analysis to stakeholders involved in managing climate funds. Read more ➡️ http://anticorru.pt/2Zl

Corruption risk prevention and climate initiatives (and more broadly ESG topic) are connnected, as Transparency International states in its new Climate and Corruption Atlas 🌍 👉 Bilateral and multilateral development assistance programmes are gradually shifting their focus to climate-related initiatives 👉 Applying controls that close systemic weaknesses in climate finance processes and neutralise enabling factors for corruption is the key for protecting integrity of climate initiatives 👉 A set of findings and recommendations for donors, public and private sectors are identified in the report, in the areas of integrity, antifraud and anticorruption Therefore, Integrity and Transparency are critical for protecting climate ♻️ #antifraud #anticorruption #integrity #transparency #climate #esg

Another article of mine is now live on The THRIVE Project Blog! This piece delves into the implications of corruption on the environment, shedding light on its significant role in fostering environmental misconduct across various sectors globally. Learn more by following the link below. https://lnkd.in/giH_AEZh

London Climate Action Week Highlights Innovative Solutions Like Those We Seek Under the Safeguarding Carbon Markets Challenge    London Climate Action Week's themes include climate ambition, #ClimateFinance, and mobilizing the whole of society towards #ClimateAction. These resonate with our vision for climate projects and carbon markets as potential vehicles for achieving a sustainable new economy. Critical to this vision is the need to safeguard carbon markets from the numerous corruption risks that can undermine the trust in and effectiveness of these growing and promising solutions. Corruption jeopardizes the intended benefits of carbon markets; diverts resources intended for decarbonization or, in the case of land-based projects, for local, indigenous, marginalized, and underserved communities; and potentially threatens community livelihoods. Visibly addressing corruption risks is critical to maximize the impact of investments, raising additional funds for climate finance; and advancing broader environmental, social, and governance goals. Announcing the Safeguarding Carbon Markets (SCM) Challenge Last week, USAID, in collaboration with partners BHP Foundation and the Global Partnership for Social Accountability, announced the launch of the Safeguarding Carbon Markets Challenge (SCM Challenge). Resonance serves as an implementing partner with Management Systems International. The SCM Challenge seeks innovative concepts that counter #corruption and enhance transparency and accountability in #CarbonMarkets to preserve the benefits of critical climate finance. We encourage fresh ideas, early-stage prototypes, and scalable solutions that bridge and build upon best practices and expertise from both the anti-corruption and climate finance communities to reduce opportunities for corruption, raise the costs of corruption, and incentivize public and private sector integrity in these critical markets. Concept notes are due by August 15, 2024 at 11:59 AM EDT. To learn more about this funding opportunity, visit the website. https://lnkd.in/en-gvJfw

GRI🏭 An international independent standards body called the Global Reporting Initiative, or GRI, assists governments, corporations, and other organizations in comprehending and communicating their effects on matters like corruption, human rights, and climate change. Global Reporting Initiative (GRI)'s voluntary sustainability reporting framework has been embraced by governments, small and medium-sized businesses (SMEs), NGOs, industry associations, and multinational corporations since its initial draft rules were released in March 1999.

The World Bank The rate at which climate financing is being mobilized is still vastly insufficient, but it is growing. As money is being mobilized for investments, rent seeking and (attempts) at corruption will inevitably be risks. We should not be surprised or shocked by this. But to retain the integrity, credibility, efficiency, and – most critically – the effectiveness of climate funding efforts, rent-seeking and corruption risks need to be identified and proactively addressed. Corruption can undermine adaptation efforts when funds for constructing small scale infrastructure to protect against storms and floods or to store water are wasted or misdirected. Construction in remote locations may face elevated risks given limited supervision. Corruption can also affect major national adaptation or mitigation projects by reducing the quality of construction; and it can affect the investment climate in ways that delay or hinder investments in renewables and other elements of energy and transport transitions. Efforts at preserving or restoring forests face the risk of bribes paid to breach protection efforts and to facilitate illegal logging.  Doubts about the proper certification of carbon offsets offered by voluntary private markets that were raised in early 2023– indicating insufficient attention to conflicts of interest– led to a decline in investments in these markets in subsequent months. The recent Anticorruption for Development Global Forum hosted a discussion on the Green Transition and Anticorruption that suggested several avenues for addressing these challenges. This maxim applies across all types of funding channels and modalities. Create and promote transparency standards. This applies to expected and achieved results, as well as about transparency of funding flows. Make accountability comprehensive rather than just focused on financial aspects. Involving local communities in forest management is increasingly considered critical to sustainable success– but appears most effective when they have an overall stronger role in decision-making. Keep talking to investors, both international and local. Climate change mitigation will significantly rely on private sector investments, and talking to investors is the best way to know what is missing to enable further and faster scaling up of investments, as well as the potential corruption risks that impact the viability of investments. Addressing the intersection of climate change and corruption is too important to just consider along narrow specialist silos, or to relegate it to an afterthought. It needs to be integrated throughout funding and investment cycles. https://lnkd.in/d7U5WuBT

🚀 📣𝐁𝐫𝐞𝐚𝐤𝐢𝐧𝐠 𝐍𝐞𝐰𝐬: #𝐂𝐒𝐃𝐃𝐃 𝐀𝐠𝐫𝐞𝐞𝐦𝐞𝐧𝐭 𝐑𝐞𝐚𝐜𝐡𝐞𝐝! 📣🚀 Congrats to the #EU for finalizing the Corporate Sustainability Due Diligence Directive! The #CSDDD has been (informally) agreed upon, marking a major leap in the regulatory landscape for businesses. This directive reshapes how companies interact with customers, banks, and market participants. 👇Major Updates👇 𝐒𝐜𝐨𝐩𝐞 𝐄𝐱𝐩𝐚𝐧𝐬𝐢𝐨𝐧: 🇪🇺 EU companies with 500+ employees & €150m global turnover. 🌐 Non-EU companies with €300m turnover in the EU.   𝐂𝐥𝐢𝐦𝐚𝐭𝐞 𝐀𝐜𝐭𝐢𝐨𝐧 𝐏𝐥𝐚𝐧: 🌡️ Companies must align operations with a 1.5°C global warming limit goal.   𝐓𝐨𝐮𝐠𝐡𝐞𝐫 𝐏𝐞𝐧𝐚𝐥𝐭𝐢𝐞𝐬: ⚖️ Civil liability for damages. 🗣️ Naming and shaming. 💰 Fines up to 5% of global net turnover.   𝐑𝐢𝐠𝐨𝐫𝐨𝐮𝐬 𝐃𝐮𝐞 𝐃𝐢𝐥𝐢𝐠𝐞𝐧𝐜𝐞 𝐑𝐞𝐩𝐨𝐫𝐭𝐢𝐧𝐠: 🌱 Environmental matters. 🤝 Human rights. 🛡️ Anti-corruption. 🌈 Diversity.   The next significant step in this process is the anticipated formal adoption of the #CSDDD by the #europeanparliament, which is scheduled to take place in Q1 of 2024. 📥 Follow Daato for more updates on #SustainabilityReporting

🚀💡 This isn't your typical map! 🌍 Transparency International has updated its Climate and Corruption Atlas, offering an interactive map highlighting instances of corruption intersecting with climate issues. It contains cases in Brazil, several Latin American countries, Indonesia, and other regions, providing a comprehensive overview of these critical challenges. 🌳💼 Gain a deeper understanding of the complexities surrounding corruption and climate-related matters. You can access the interactive map here: https://lnkd.in/eKHYggkZ 🌐🔍   #ClimateGovernance #CorruptionAtlas #ClimateAction