#voluntary climate action targets

[worldpostday]

View to 2025.

On October 5, 2023, the Universal Postal Union concluded its fourth Extraordinary Congress in Riyadh, Saudi Arabia. The five-day event, which brought together postal plenipotentiaries from around the world, saw several historic agreements made, including plans to increase the UPU’s engagement with wider postal sector players, new climate action targets, the modernization of postal financial services, and increasing the UPU’s regular budget ceiling to provide the organization with additional financial resources.

On the closing of the Congress, the UPU Director General reflected on the effect the decisions made in Riyadh would have on the organization’s future. “The Universal Postal Union, which will celebrate its 150th anniversary next year, was created with a simple yet profound mission: to connect the world through postal services. Over the decades, our organization has continuously evolved to meet the changing needs of our global community,” he said. “In Riyadh, we have paved the way towards an even more profound transformation, making pivotal and important decisions that will shape the future of our organization. The next regular Congress is set to be held in Dubai, United Arab Emirates, in 2025

[reasonsforhope]

"The Hague made international headlines for being the first city in the world to approve legislation prohibiting marketing of fossil fuel-related products and services. This major ruling, issued earlier this month, seeks to limit the promotion of items with a high carbon footprint, such as gasoline, diesel, aviation, and cruise ships. The ban, which goes into effect at the start of next year, will affect both government and privately funded advertisements, including those on billboards and bus shelters throughout the Dutch metropolis.

This groundbreaking legislation establishes an important precedent in the global fight against climate change. Other cities have attempted to limit the reach of high-carbon items through council ordinances or voluntary agreements with advertising operators, but The Hague’s prohibition is the first that is legally binding. It is a major step forward for cities around the world that want to reduce carbon emissions and combat climate change head-on.

A response to global calls for action

The prohibition comes after UN Secretary-General António Guterres called earlier this year for countries and media outlets to take tougher action to combat fossil fuel advertising, citing parallels with existing tobacco advertising bans. Guterres stressed that, as with the tobacco industry in the past, fossil fuel businesses are contributing to a worldwide public health crisis—in this case, climate change. Governments can help change public behavior and prevent the normalization of high-carbon lifestyles by limiting their capacity to market.

Several cities have already made tiny moves in this direction. Edinburgh, for example, approved a council vote in May prohibiting fossil fuel-related ads in city-owned venues. The Scottish capital also prohibits enterprises that sell these products from sponsoring events or developing partnerships. However, unlike The Hague’s legislation, Edinburgh’s ban is voluntary and only applies to council spaces.

A legally binding first

The Hague’s new law is significant since it is legally binding. The restriction affects not only specific items, such as gasoline, diesel, and fossil fuel-powered vehicles but also businesses such as aviation and cruise ships. However, the rule exempts fossil fuel firms’ political advertising or efforts supporting a generic brand, allowing these businesses to keep prominence...

The impact of advertising on behavior

Advertising’s impact on consumer behavior is well-documented, and many experts say that fossil fuel marketing undercut climate legislation by encouraging unsustainable behavior. Thijs Bouman, an associate professor of environmental psychology at Rijksuniversiteit Groningen, stated that “fossil fuel advertising normalizes the use of high-carbon products and services, making it more difficult to change consumer habits.” ...

Catalyzing change worldwide

The Hague’s move may have repercussions beyond its borders, spurring similar actions in other cities around the globe. Cities such as Toronto, Canada, and Graz, Austria, are already launching campaigns to outlaw advertising for fossil fuels. In the Netherlands, both Amsterdam and Haarlem have outlawed marketing for climate-damaging products like beef, but these measures have yet to become legislation.

Sleegers believes that The Hague’s move will act as a spur for other towns to follow suit. “More cities have a wish to implement the fossil ad ban through ordinance, but they were all waiting for some other city to go first. The Hague is this city,” she said, predicting that more local governments will now feel empowered to act...

As the world grapples with the rising costs of climate change, The Hague’s pioneering move provides a potential model for other cities looking to minimize their carbon footprints. With cities like Toronto and Amsterdam keeping a careful eye on things, this legislation has the potential to start a global campaign to prohibit fossil fuel advertising. 

More cities may follow suit in the coming years, hastening the transition to a more environmentally friendly and sustainable future."

-via The Optimist Daily, September 26, 2024

[carboncreditcapital]

Carbon Trading: A Comprehensive Guide to Fighting Climate Change

Carbon trading is an essential tool in the global fight against climate change. As the impacts of global warming become increasingly apparent, businesses, governments, and organizations are leveraging carbon trading mechanisms to reduce greenhouse gas (GHG) emissions. This article explores what carbon trading is, how it works, its benefits, challenges, and its role in transitioning to a low-carbon economy.

What is Carbon Trading? Carbon trading, also known as carbon markets or emissions trading, is a market-based approach to controlling greenhouse gas emissions. It allows entities to buy and sell carbon credits, which represent the right to emit a certain amount of carbon dioxide (CO₂) or equivalent gases. This system incentivizes organizations to reduce their emissions, as lower emissions mean they can sell excess credits or avoid purchasing additional ones.

Types of Carbon Trading Markets Cap-and-Trade Systems: In a cap-and-trade system, a regulatory body sets a cap on the total emissions allowed within a specific sector or region. Companies are allocated or auctioned allowances (carbon credits), which they can trade if they exceed or fall short of their emissions targets.

Voluntary Carbon Markets (VCMs): These markets operate outside regulatory frameworks and allow businesses or individuals to purchase carbon offsets to compensate for their emissions. For example, a company might invest in a renewable energy project or reforestation effort to offset its carbon footprint.

How Carbon Trading Works Setting Emission Limits Governments or regulators establish an emissions cap for industries or sectors. The cap typically decreases over time to encourage gradual reduction in emissions.

Allocation of Credits Entities receive or purchase carbon credits, where one credit typically equals one ton of CO₂ or its equivalent.

Emissions Monitoring Organizations track and report their emissions. Those emitting less than their allowance can sell surplus credits, while those exceeding their limits must buy credits or face penalties.

Trading Participants trade credits on exchanges or directly with other entities. This creates a financial incentive for innovation and emissions reductions.

Benefits of Carbon Trading Cost-Effective Emission Reductions: Carbon trading allows industries to meet emissions targets at the lowest cost by enabling the trading of credits between entities with differing reduction costs.

Incentivizes Innovation: Companies invest in cleaner technologies and energy efficiency to lower their emissions and sell surplus credits.

Encourages Global Participation:

International trading systems foster cooperation, helping countries and companies work together to meet climate goals.

Supports Sustainable Projects: Revenue from carbon credits often funds renewable energy, forest conservation, and other environmental initiatives.

Challenges in Carbon Trading Lack of Global Standardization: Differences in rules and frameworks across countries make it challenging to create a unified carbon market.

Risk of Greenwashing:Companies may misuse carbon offsets to appear environmentally responsible without making real emissions reductions.

Market Volatility: Fluctuations in credit prices can affect the stability and predictability of carbon trading markets.

Complexity and Monitoring: Ensuring accurate measurement and verification of emissions and offsets requires significant resources and expertise.

Carbon Trading in Action European Union Emissions Trading System (EU ETS) The EU ETS is the world's largest cap-and-trade system, covering power generation, manufacturing, and aviation. It has successfully reduced emissions in the EU by capping them and encouraging renewable energy adoption.

Voluntary Carbon Markets Companies like Microsoft and Google are active in VCMs, purchasing offsets to achieve their net-zero targets. These markets are critical for sectors like aviation and agriculture, where emissions are harder to eliminate.

The Future of Carbon Trading As countries strive to meet the Paris Agreement goals, carbon trading is expected to expand and evolve. Advances in technology, such as blockchain, are making carbon markets more transparent and efficient. Furthermore, increased international collaboration could lead to a more standardized global carbon trading framework, enhancing its impact.

For more info:-

Credit Carbon Price

Carbon Credit

[head-post]

G20 leaders to COP29: Don’t leave Baku without new financial goal

UN Executive Secretary Simon Stiell called on world leaders to honour their promises and prioritise a new ambitious financial target at the climate summit in a powerful statement at COP29 on Tuesday.

Speaking from Baku, Stiell emphasised that G20 leaders had given a clear message to negotiators:

“Do not leave Baku without a successful new finance goal.”

Stiell emphasised the urgent need for global cooperation in addressing the climate crisis, drawing attention to the interconnected problems of escalating climate impacts, devastating debt crises and supply chain failures that are driving up inflation around the world.

According to the UN executive secretary, creating a credible and ambitious climate finance target is crucial not only to combat climate change, but also to ensure economic stability and resilience in the face of growing environmental disasters. He said:

“The G20 has sent an unequivocal message: financial reforms to ensure climate action are needed now more than ever. This is essential in a world where the impacts of climate change are wreaking havoc on lives and economies, particularly in vulnerable regions.”

Stiell also noted that new financial commitments must be accompanied by stronger national climate plans. G20 leaders recognised that only through bold and comprehensive climate strategies will countries be able to transition to a clean energy-based, climate-resilient global economy. Stiell urged, emphasising the need for swift and decisive action in Baku:

“Time is of the essence. We must move beyond posturing and get to work on reaching common ground on all issues, including finance, adaptation, and mitigation.”

As COP29 progresses, Stiell’s statement signals a critical moment in global climate negotiations. The UN Executive Secretary’s call for a balanced package that includes a new financial target as a centrepiece is likely to shape the discussions in the coming days, with all eyes now on whether world leaders can translate their commitments into concrete results.

Stiell’s speech came just hours after G20 leaders, including representatives of the world’s largest economies, reaffirmed their commitment to tackling the twin challenges of climate change and economic instability.

Summit G20 conclusions

Meanwhile, the G20 leaders spoke in favour of reforming the UN Security Council, the World Trade Organisation and, more generally, the international financial architecture. The Summit Declaration notes that these plans “would meet the requirements and realities of the 21st century.” It is pointed out that the expansion of the UN Security Council to include countries from Africa, Asia-Pacific, Latin America and the Caribbean would make this body more representative, inclusive, efficient, effective, democratic and responsible.

WTO reform should help solve problems “to ensure that trade serves as an engine of growth and prosperity for all.” The declaration also noted:

“We will accelerate reform of the international financial architecture so that it can meet the urgent challenges of sustainable development, climate change and poverty eradication efforts. We support the voluntary establishment of country platforms as a possible tool to catalyse sustainable finance in emerging markets and developing economies.”

In addition, the G20 supported progressive taxation, calling it “key to combating inequality.”

Read more HERE

[interopera9]

Carbon Credits in Singapore: A Pathway to Sustainable Growth

As the world grapples with the pressing challenges of climate change, countries and businesses alike are exploring ways to reduce their carbon footprints. In this context, carbon credits in singapore have emerged as a vital tool for managing and offsetting greenhouse gas emissions. Singapore, with its strategic focus on sustainability and green growth, has been actively developing its carbon credit market. This blog will delve into the concept of carbon credits, their significance in Singapore, and how businesses can leverage them to achieve their sustainability goals.

What are Carbon Credits?

A carbon credit is a tradable certificate that represents the reduction or removal of one metric ton of carbon dioxide (CO2) or an equivalent amount of other greenhouse gases. These credits are generated by projects that reduce, avoid, or sequester emissions, such as renewable energy projects, reforestation initiatives, and energy efficiency improvements. Companies and governments can purchase carbon credits to offset their own emissions, thereby contributing to global efforts to combat climate change.

The Carbon Credit Market in Singapore

Singapore has positioned itself as a hub for green finance and carbon trading in Asia. The country’s carbon credit market is evolving rapidly, driven by both regulatory frameworks and voluntary initiatives. Key developments in Singapore’s carbon credit landscape include:

Carbon Pricing Act: Enacted in 2019, Singapore’s Carbon Pricing Act requires large industrial emitters to pay a carbon tax. This tax is designed to incentivize businesses to reduce their emissions and encourages the use of carbon credits as a means of offsetting taxable emissions.

Singapore Carbon Exchange (SCX): Launched in 2021, the Singapore Carbon Exchange provides a platform for the trading of carbon credits. The SCX aims to facilitate the buying and selling of high-quality carbon credits, making it easier for businesses to participate in the carbon market.

Global Carbon Standards: Singapore supports globally recognized carbon standards, such as the Verified Carbon Standard (VCS) and the Gold Standard. These standards ensure that carbon credits traded in Singapore are credible, transparent, and effective in reducing emissions.

Why Are Carbon Credits Important for Businesses?

For businesses in Singapore, carbon credits offer several strategic advantages:

Regulatory Compliance: Companies subject to Singapore’s carbon tax can use carbon credits to offset their emissions, thereby reducing their tax liability.

Corporate Social Responsibility (CSR): Purchasing carbon credits allows businesses to demonstrate their commitment to sustainability and climate action. This can enhance their brand reputation and appeal to environmentally conscious consumers and investors.

Sustainability Goals: Carbon credits in singapore help companies achieve their sustainability targets, such as carbon neutrality or net-zero emissions. By offsetting unavoidable emissions, businesses can align themselves with global climate goals.

Market Competitiveness: As consumers and investors increasingly prioritize sustainability, companies that actively reduce or offset their carbon footprint can gain a competitive edge in the market.

Challenges and Opportunities

While the carbon credit market in Singapore presents significant opportunities, it also comes with challenges:

Price Volatility: The price of carbon credits can fluctuate based on market demand, regulatory changes, and global economic conditions. Businesses must carefully manage their carbon credit strategies to mitigate financial risks.

Quality Assurance: Ensuring the credibility and effectiveness of carbon credits is crucial. Companies should prioritize purchasing credits from certified projects that adhere to recognized global standards.

Long-term Planning: Businesses need to integrate carbon credits into their broader sustainability strategy, considering both current and future regulatory requirements and market trends.

Conclusion

Carbon credits in singapore are a powerful tool for businesses in Singapore to reduce their carbon footprint and contribute to global climate goals. As Singapore continues to develop its carbon market, companies that embrace carbon credits can enhance their sustainability credentials, comply with regulations, and gain a competitive advantage. By investing in high-quality carbon credits, businesses not only offset their emissions but also support the transition to a low-carbon economy, paving the way for a more sustainable future.

[usa-journal]

Former SBTi Employee Files Complaint with British Charity Watchdog

LONDON — A former employee of the Science-Based Targets Initiative (SBTi) has lodged a formal complaint with the Charity Commission, alleging that the prominent non-profit organization, which is relied upon by some of the world's largest corporations to audit their carbon emission reduction goals, has strayed from its core mission.

The complaint, submitted last month and reviewed by Reuters this week, accuses SBTi's board of trustees of acting "recklessly" in their decision to allow companies to incorporate carbon credits into their emission reduction targets. The former employee argues that this policy shift undermines the organization’s fundamental objective, which is to drive direct reductions in corporate emissions rather than relying on offset mechanisms.

Historically, the SBTi had opposed the use of carbon offsets when setting targets. However, in April, the organization announced a controversial plan to consider incorporating these offsets, a move that was met with significant backlash from its staff. In response to the criticism, the board stated that it would pause any immediate changes to the rules and instead conduct a review of whether to officially adopt carbon offsets. The controversy surrounding this decision also led to the resignation of Luiz Amaral, SBTi's CEO, who stepped down earlier this month, citing unspecified personal reasons.

The complaint, which has been shared with Reuters by the anonymous former employee, alleges that SBTi's trustees violated organizational rules and disregarded expert advice by contemplating the inclusion of carbon credits. The former employee also claims that several board members have connections to the carbon offset industry, raising concerns about potential conflicts of interest. Notably, SBTi is partially funded by the Bezos Earth Fund, established by billionaire Jeff Bezos, which is a significant investor in voluntary carbon markets.

The Charity Commission has not yet commented on whether it will investigate the complaint. If the regulator chooses to pursue an inquiry, potential outcomes could range from removing trustees to appointing interim managers, or, in extreme cases, revoking the charity's status, according to Chris Priestley, a charity law expert at Withers LLP.

Holger Hoffman-Riem, a member of SBTi's technical advisory group, which advises the organization on standards and guidelines, has voiced support for an external review. "An external review would serve the board’s interests by demonstrating compliance with charity law and governance principles," he stated.

SBTi's spokesperson acknowledged receipt of the complaint but declined to comment further until they have reviewed the details themselves. The spokesperson reiterated that the organization currently does not permit the use of carbon offsets in target setting, emphasizing that further details on the consultation process will be provided in due course.

The complaint underscores ongoing debates about the effectiveness and integrity of carbon offsetting as a tool for climate action, highlighting the tension between different approaches to reducing global carbon emissions.

[earthoodservices]

A Global Perspective: How Different Countries Approach Carbon Auditing and Reporting

In a global effort to cohesively combat climate change, the process of gaining carbon audits and reports serves as crucial mechanisms in the reduction and tracking of GHG emissions. When nations strive to meet climate targets internationally, like that in the Paris Agreement, the frameworks and strategies employed in auditing and reporting can also vary significantly.

European Union

The EU is seen as a leader in climate regulation, where the ETS or EU’s Emission Trading Systems is the cornerstone of Europe’s policy to be combating climate change. It is a cost-effective tool for the reduction of successful greenhouse gas emissions. Covering over 11000 manufacturing plants and power stations in 27 member states in the EU, and emissions from airlines that fly between the countries. EU mandates large companies to publish regular social and environmental reports, including detailed accounts of carbon emissions. This need promotes transparency and encourages organizations to develop processes for reducing carbon footprints. The “Green Deal from EU” will aim to make Europe the first climate-neutral continent by 2050, thereby tightening expectations and regulations for carbon audits.

The United States

The United States has a less centralized process for carbon auditing or reporting than the EU. There is no mandatory scheme of carbon trading or national carbon tax, but some states like California pioneer aggressive climactic policies. For instance, the “California Cap-and Trade” 2013 program, has been one of the largest carbon trading programs worldwide. It covered 85% of the total GHG emissions of the state. The EPA or “Environmental Protection Agency” needs to report GHG emissions from large suppliers and sources in the USA through the GHG reporting program. However, this is a more decentralized approach with unique variations on how individual states can report and manage emissions.

India

India strongly focuses on increasing the capacity for renewable energy and overall energy efficiency. The NAPCC or “National Action Plan on Climate Change” displays eight national missions that run through 2017-20, focusing on the promotion of sustainable development. Although India does not possess a mandatory GHG emissions report system across all industries, it operates a PAT scheme (called Perform, Achieve & Trade) under the national mission for enhanced energy efficiency. The market-based PAT scheme enhances cost-effectiveness as well as energy efficiency across sectors. Third-party audits and voluntary reporting should be encouraged, where an increased number of Indian organizations participate in projects of global carbon disclosure.

China

China has been the world’s largest emitter of CO2 but has made considerable strides in carbon audits and reports in recent years. In 2021 the country had launched a national trading scheme, focusing on the sector of power generation. The scheme has the expected expansion to include more industries to peak emissions before 2030 while achieving carbon neutrality by 2060. China shows heavy investment in technologies around renewable energy which reduces its rapidly growing economy’s carbon intensity. The government mandates GHG emissions and energy audits which report for key industries, thus integrating collated efforts into a national framework that would support long-term objectives of the climate.

Conclusion

The Carbon audit and report reflect diverse political wills, economic priorities, as well as environmental challenges. The trading schemes of the EU to the decentralized strategies of the USA, and the emerging frameworks in China and India, every country contributes uniquely to the collected effort of reducing global greenhouse gas emissions. The national strategies not only aim to meet international climate commitments but also foster innovation, and encourage private and public sectors to participate actively in global climate change. As the world continues to face and evolve new environmental challenges, the effectiveness and adaptability of the carbon auditing and reporting frameworks will shape a sustainable future.

[pgsenergyservices]

The Role of the Indian Carbon Market (ICM) in Climate Action

Introduction:

With the globe struggling to address climate change, the Indian Carbon Market (ICM) has become a growing factor in the advancement of environmental sustainability. The ICM provides a platform for businesses to actively engage in climate action projects through the market of carbon credits and the promotion of emission reduction programs.

We examine the importance of the Indian Carbon Market in this informative blog, looking at how it promotes the shift to a low-carbon economy and lessens the negative effects of global warming.

We’ll emphasize the critical role Indian Carbon Market Consultants play in helping companies adopt sustainable practices throughout this conversation. We’ll also highlight PGSEPL, a renowned consulting firm, and how it has advanced climate action via the ICM.

Importance of the Indian Carbon Market:

The Indian Carbon Market is an important instrument for stopping climate change and promoting environmentally friendly development in India. With a growing awareness of the risks to the environment related to greenhouse gas emissions, the ICM provides businesses with an organized strategy to lower their carbon footprint while supporting global emission reduction efforts.

The ICM is important for India’s journey to a low-carbon economy since it encourages the use of cleaner technologies and provides rewards for emission reductions.

Key Drivers of the Indian Carbon Market:

Government Programs: With several initiatives and policies, the Indian government has taken the lead in combating climate change. These include fulfilling the National Action Plan on Climate Change (NAPCC), the agreement’s responsibilities, and the green energy targets.

Objectives for Corporate Sustainability Indian companies are now starting to understand the main value of our responsibility to the environment and are taking steps to build their corporate plans companies engage in carbon offset programs, invest in green energy projects, and set reduction of emissions objectives as part of their efforts to improve the environment.

International Collaboration: India participates in a number of international collaborations and agreements aimed at addressing climate change, such as the United Nations Framework Convention on Climate Change (UNFCCC).

Through these collaborations, India can participate in global carbon markets and obtain help in putting pollution reduction plans into action. International collaboration encourages global climate action and increases the Indian Carbon Market’s effectiveness.

Technological Innovations: The Indian Carbon Market’s attempts to lower pollution are significantly influenced by technological advancements. Thanks to advancements in energy conservation, renewable energy, and carbon capture and storage technologies, businesses can now adopt cleaner and more environmentally friendly procedures. Indian Carbon Market

Implementation Strategies within the Indian Carbon Market:

Cap-and-Trade Systems: Restriction-and-trade programs restrict the total quantity of pollutants that are permitted in a given area or industry. Pollution allowances are given to businesses and can be exchanged amongst them. By rewarding companies that meet their goals and punishing those that go over their allocated allowances, this approach encourages companies to reduce carbon emissions.

Mechanisms for Pricing Carbon: A price is placed on carbon emissions through carbon pricing mechanisms like carbon taxes or carbon pricing systems. Businesses are compelled to cut back on emissions and invest in cleaner technologies when they absorb the cost of carbon pollution. Industry-wide emission reductions are encouraged by carbon prices, which send a strong economic signal.

Programs for Voluntary Offsets By contributing to carbon offset efforts, companies and individuals can freely reduce their carbon footprints. These efforts produce carbon credits, which can be exchanged in voluntary carbon markets or used to offset emissions. Businesses have more freedom to move actively toward environmental responsibility and zero emissions with voluntary offset schemes.

Promotion of Renewable Energy: The promotion of clean energy sources is one of the main efforts in the Indian carbon market. The market supports the move from oil and gas to clean, sustainable energy sources by offering benefits for the development and execution of renewable energy projects like solar, wind, and hydropower. Carbon credits are produced by renewable energy projects when they balance the releases of greenhouse gases caused by the production of traditional power.

Capacity Building and Awareness:

Building capacity and increasing public awareness are necessary for the Indian Carbon Market to be executed successfully. These initiatives include communication campaigns, training courses, and seminars aimed at educating interested parties about the advantages of sustainable practices, carbon markets, and emission reduction plans.

By increasing knowledge and developing capacity, the market may encourage increased engagement and cooperation among stakeholders, which will result in more significant climate action.

Understanding the Indian Carbon Market Consultants

In the varied field of Indian Carbon Market Consultants, PGS Energy Services Pvt. Ltd is distinguished as a source of knowledge and creativity. With a committed group of experts in emission reduction plans, sustainable development, and carbon trading, PGSEPL provides all-inclusive solutions customized to meet the particular requirements of companies.

PGSEPL helps companies navigate the complexity of the ICM, maximize chances for carbon credit trading, and implement efficient emission reduction measures by utilizing their vast knowledge and latest technologies.

Businesses may take full advantage of the Indian Carbon Market to generate significant climate action and accomplish sustainability goals by working with PGSEPL.

Here are some beneficial points of PGS Energy Services Pvt. Ltd in the Indian Carbon Market:

• In-Depth Understanding of the ICM: PGSEPL possesses an in-depth understanding of the Indian Carbon Market, including its regulatory framework, trading mechanisms, and market dynamics. Because of this knowledge, PGSEPL can advise customers strategically so they may take full advantage of the market’s prospects and engage in carbon trading.

• Customized Carbon Trading Solutions: PGS Energy Services Pvt. Ltd provides carbon trading solutions that are made to fit the particular requirements and goals of every customer. We provide personalized methods that match the client’s financial limits and environmental objectives, whether it be researching opportunities for carbon offset projects or purchasing carbon credits to satisfy compliance requirements.

•Emission Reduction Strategies: PGSEPL helps clients in setting and carrying out successful reductions in emissions strategies within the Indian Carbon Market. We help businesses minimize their carbon footprint and attain long-term sustainability objectives by identifying pollution hotspots, implementing energy-saving solutions, and carrying out renewable energy programs.

• Verification and Certification Support: To guarantee that its clients’ reduction of emissions projects respects international standards and regulatory regulations, PGSEPL offers verification and certification support. To confirm reductions in emissions and guarantee truth and openness in carbon credit transactions, our company collaborates closely with certified auditors.

•Technology Integration: To improve the effectiveness of trading in carbon and reduction of emissions programs within the Indian Carbon Market, PGS Energy Services Pvt. Ltd makes use of modern technologies and instruments. We use technology, from advanced data analytics to remote monitoring systems, to improve carbon management procedures and provide sustainable results for our clients.

•Strategic Partnerships: PGSEPL has established strategic partnerships with key stakeholders in the Indian Carbon Market, including government agencies, industry associations, and carbon market intermediaries. With these connections, we can stay up with the most recent developments in the market, have the use of important resources and knowledge, and provide our customers with the most accurate possibilities and market data.

•Continuous Support and Monitoring: PGS Energy Services Pvt. Ltd offers ongoing support and monitoring to clients participating in the Indian Carbon Market. We continue to be an honest collaborator and advisor, helping clients successfully and efficiently achieve their carbon management goals, whether it’s tracking carbon credit transactions, keeping an eye on project performance, or managing regulatory changes.

FAQs on the Indian Carbon Market

Q: How does the Indian Carbon Market operate, and what is its nature? Businesses and industries can trade carbon credits, which show reductions in greenhouse gases, in the Indian Carbon Market. Companies can use strategies like cap-and-trade to motivate the reduction of pollutants and to meet rules by buying and selling carbon credits.

Q: How do PGS Energy Services Pvt. Ltd assist businesses in navigating the ICM? Expertise in carbon trading, reduction of emissions plans, and compliance with regulations are offered by PGS Energy Services Pvt. Ltd. To maximize their participation in the ICM, we help companies identify carbon credit prospects, understand market dynamics, and put environmentally friendly initiatives into place.

Q: What role does PGSEPL play in the Indian Carbon Market? In the Indian Carbon Market, PGSEPL facilitates the distributing, confirming, and trading of carbon credits. To maintain trust and transparency in carbon credit transactions, we help businesses measure and verifying their greenhouse gas decreases.

Q: Are there any opportunities for businesses to communicate with the Green Hydrogen Consultant Agencies of the ICM? Yes, as the demand for clean energy solutions grows, PGS Energy Services Pvt. Ltd, as a green hydrogen consultant agency plays a vital role in promoting the adoption of green hydrogen technologies within the Indian Carbon Market. We advise businesses on integrating green hydrogen production and utilization into their emission reduction strategies.

Conclusion

PGS Energy Services Pvt. Ltd.’s wide service offering, industry expertise, technical integration, and commitment to client satisfaction make it a valuable partner for businesses operating in the Indian carbon market.

Businesses can simplify the carbon trading process, lower their carbon footprint, and promote sustainable growth by India’s climate goals by utilizing our knowledge and capabilities.

We play an important part in helping businesses to effectively enter the market, achieve goals related to sustainability, and maximize profits.

As businesses struggle with the issues presented by climate change and responsibility for the environment, the ICM remains a beacon of hope, driving the world and India’s economy toward a more sustainable and environmentally friendly future.

[esgagile]

Six advantages of sustainability reporting for businesses

We as a Sustainability Reporting Consultant In UAE, making a sustainability plan is just the first step in becoming more sustainable. Our study has shown us how important it is for companies to spend money on sustainability reporting to make real progress and show investors and customers that they are doing their part to address the ecological and climatic catastrophe. Achieving sustainability requires being open and honest about all the effects your business operations have on the environment, the economy, and society. Reporting assists in determining the cost reductions that result from your sustainability plan and the possibility of further savings. These savings are not limited to the companies' internal activities. Kingfisher is monitoring the energy savings its clients make by purchasing its goods and services using a Bioregional model. Reporting enables companies to report progress internally using reliable data.

Being a Sustainability Report Consultant In UAE, Employee action, pride, and morale are all boosted by this since they realize their work is having a real impact. Practicality varies throughout sustainability metrics. Reports can assist you in determining what is or is not working, allowing you to modify strategies as necessary. Reputable external reporting builds confidence among stakeholders. Gaining investor trust and obtaining sustainability certifications or accreditations, such as those from the Science-Based Targets program (see below), depend more on reporting sustainability data. As worries about the condition of the planet increase, standards for both will probably rise. Maintaining compliance with sustainability reporting enables you to meet both voluntary reporting requirements and legal obligations for non-financial reporting. Among the most prominent instances is Google's pledge to power all its offices and facilities entirely with renewable energy.

We believe as a Sustainability Report Consultant, the primary legislative factor highlighted in KPMG's poll for increasing reporting is the global trend toward rules mandating businesses to disclose non-financial information, especially regarding greenhouse gas emissions. Kingfisher established science-based goals supporting limiting global warming to less than 1.5 degrees. We require leadership like this to prevent the worst effects of climate change. These lofty goals will also guarantee that Kingfisher remains ahead of legislation and policies in the future. Contemporary businesses set the standard for showcasing their dedication to environmentally conscious business operations. Even though Tesla hasn't invested in electric vehicles, their model shows that environmentally friendly automobiles don't have to sacrifice performance or design.

In our role as Sustainability Reporting Consultant In Dubai, the success of these companies serves as an inspiration for investors, entrepreneurs, and established companies to invest in and innovate more. Businesses may ensure their survival in the long run and maintain profitability by implementing environmentally conscious business strategies. These methods, however, go beyond only lessening the environmental impact; they also involve community involvement, cost-cutting, and regulatory compliance. We aim to raise awareness of the benefits of environmentally friendly activities among investors, business executives, and consumers. It is feasible to be both prosperous and environmentally responsible. To find out more about how you can help companies that put a priority on minimizing their negative social and environmental impact, get in contact with us.

[thxnews]

Sustainable Development Goals: Blinken Unveils AI Vision

  Harnessing AI to Improve Lives and Address Global Challenges

In a dynamic address at the New York Public Library, U.S. Secretary of State Antony J. Blinken emphasized the transformative potential of artificial intelligence (AI) in advancing global sustainable development goals. Secretary Blinken commended the library's historical role in shedding light on the world's most pressing issues through knowledge exchange, setting the stage for a crucial discussion on leveraging AI to create a safer, healthier, and more prosperous world.   The Power of AI in Achieving the SDGs Secretary Blinken acknowledged that AI, particularly advanced systems like GPT-4, presents a new era in technology, with vast potential to process information, solve complex problems, and create original content. However, he also highlighted the potential risks associated with AI, including bias, discrimination, and misuse for harmful purposes.  

The Urgent Need to Achieve Sustainable Development Goals

As Secretary Blinken noted, progress toward achieving the Sustainable Development Goals (SDGs) by 2030 is lagging, with only 12 percent of the targets on track for completion. Some goals are regressing, demanding immediate action. Blinken stressed that every tool, including AI, must be employed to get the SDGs back on course.   AI's Role in Advancing the SDGs Experts estimate that AI could advance nearly 80 percent of the SDGs and their targets. What's more, AI systems are already being actively utilized to predict extreme weather events, enhance agricultural productivity, combat hunger, manage disease outbreaks, and develop clean energy infrastructure.  

International Cooperation and Governance

The United States, as a leader in AI governance, has developed a blueprint for an AI Bill of Rights and an AI Risk Management Framework. It has also initiated voluntary commitments with top AI companies to enhance safety and security. Efforts are underway to establish international AI governance frameworks, with participation from developing countries.   Maximizing AI for the Greater Good Companies have pledged to create AI systems focused on addressing society's challenges. The U.S. aims to support these efforts and strengthen partnerships between developers and governments. The country also supports initiatives like AI for Climate Action and AI for Good, emphasizing the importance of cooperation across governments.   U.S. Commits $15 Million to Drive AI for Sustainable Development Secretary Blinken announced a $15 million commitment by the United States to help governments worldwide harness the power of AI to advance the Sustainable Development Goals. This substantial funding will play a pivotal role in furthering AI's positive impact on global development.   Shaping the Future of AI Together Secretary Blinken concluded his address by highlighting the immense responsibility shared by governments, the private sector, civil society, and individuals in shaping the future of AI. He emphatically emphasized that with collective efforts, the opportunities offered by AI are boundless, and the world can harness its potential for the benefit of all.   Sources: THX News & US Department of State. Read the full article

[oyugreenusa]

Certified Carbon Credits vs. Voluntary Carbon Offsetting: Which is Right for You?

When it comes to reducing your environmental impact, there are two main options: certified carbon credits and voluntary carbon offsetting. Both have their pros and cons, so it’s important to understand which is right for you.

Certified Carbon Credits involve the purchase of a specific number of emissions reductions from an approved project that has been verified by an independent third-party organization. The credits are then retired in order to reduce overall greenhouse gas (GHG) emissions in the atmosphere. This type of offsetting is often used by companies who want to demonstrate their commitment towards sustainability goals or meet regulatory requirements related to GHG reduction targets set out by governments or other organizations such as the United Nations Framework Convention on Climate Change (UNFCCC).

Also Read: Nature based solution

On the other hand, Voluntary Carbon Offsetting involves individuals purchasing offsets from projects that have not been verified through a certification process but still provide measurable GHG emission reductions such as reforestation initiatives or renewable energy investments. These types of offsets may also be purchased directly from businesses who offer them voluntarily without any external verification process involved – hence why they’re called “voluntary” offsets! This option can be attractive for those looking for more direct control over where their money goes when trying to offset their own personal carbon footprint.

Ultimately both Certified Carbon Credits and Voluntary Carbon Offsetting can help us reduce our collective environmental impact - however, what works best will depend on individual circumstances. If you need assurance that your contribution towards climate action will make a real difference then Certified Carbon Credits might be right for you; whereas if cost savings are more important than having accessioning third-party approval then voluntary options could work better instead! Ultimately only you know what's best - just remember no matter how small your contribution may seem every bit helps when it comes time to try to offset your carbon footprint!

[worldpostday]

Climate Action.

Alongside the agreements for opening the UPU and the modernization of postal financial services, the Extraordinary Congress also approved proposals for a historic Green Package, which outlines voluntary climate action targets for the industry aimed at reducing global greenhouse gas emissions and established a framework for climate action, focusing on mitigation, adaptation, and climate finance, supported by a dedicated Climate Facility. The Green Package sets forth a voluntary tiered approach to the reduction of greenhouse gas emissions in the postal sector, recommended based on posts’ capacity to measure emissions and take action. First tier countries would strive to reduce emissions by 30 percent by 2030, with all three tiers working towards a collective 85 percent reduction by 2050. The new Climate Facility, meanwhile, will be established pending voluntary contributions. The United Arab Emirates and Germany pledged their partial financial support during the plenary meeting. Furthermore, the adoption of the Green Package also provides a mechanism for posts to make their green commitments and ambitions more visible, by signing the Postal Climate Transparency Action statement. Oliver Kaliski, Head of International Relations, Mail and Finance Network Division at Austrian Post, led the postal climate action work at the Extraordinary Congress in Riyadh on behalf of Austria. “The adopted Green Package is just the starting point,” he said. “We now have a common goal for the entire UPU membership to reduce emissions. There is now a lot of work to be done, especially in getting the Climate Facility up and running, and for that we need some more voluntary funding. We have crossed the starting line but there is still a lot to do before we can cross the finish line.”

[mariacallous]

Unprecedented heatwaves, storms, and torrential rains have afflicted the southern United States, much of Europe, and parts of Asia—from the Himalayas to South Korea—in recent months, threatening human health and the environment. They are triggering extensive wildfires, strong winds, tornadoes, and floods that have caused considerable loss of life and major economic damage to homes, vital infrastructure, and livelihoods.

Such extreme events are now occurring with increasing frequency and severity worldwide. The particular significance of the current heatwaves is that they are breaking records for both absolute temperatures and duration, the latter being measured in weeks rather than just days.

These extreme events have diverse impacts, and not only locally: Winds and air circulation patterns can drive choking smoke hundreds of miles from their source, as witnessed recently when U.S. cities in states as far south as Florida were shrouded in dense, acrid smoke from the Canadian wildfires. People were forced indoors, road and air traffic were disrupted, and sports and other outdoor events had to be postponed or cancelled, all while vulnerable people were rushed to hospital with breathing problems.

An authoritative study recently published in Nature Medicine calculated that during last summer’s intense European heatwave, the hottest on record, some 61,000 excess deaths were recorded between May 30 and Sept. 4. These deaths were concentrated disproportionately among the elderly and women, with Germany, Italy, and Spain worst affected among the 35 countries included in the study.

In low- and lower-middle-income countries, many of the urban poor do not even have electricity and/or piped water in their homes. This makes avoiding heat stroke and keeping hydrated very challenging, both at home and in the workplace or hospitals.

As indicated by numerous recent authoritative studies, the rate of global warming is outstripping previous predictions. Just last month, Bob Watson, an internationally renowned climate scientist, warned that current progress and voluntary commitments under the 2015 Paris Agreement to reduce greenhouse gas emissions leave us well short of the target of 1.5, or even 2, degrees Celsius above pre-industrial levels. Instead, the world is heading toward an increase of around 2.5 degrees Celsius, which will mean increasingly intolerable conditions across much of the globe, with major implications for food supply and security, environmental sustainability, and the liveability of cities.

From 2000 to 2015, the United Nations promoted eight Millennium Development Goals to monitor and evaluate progress toward sustainability by low- and middle-income countries. These have been replaced for 2016 to 2030 by 17 Sustainable Development Goals (SDGs), which measure progress on different elements of sustainability by all countries worldwide.

The most recent evidence on global implementation of the SDGs highlights the severe setback suffered as a result of the COVID-19 pandemic and predicts only patchy achievement of the various targets and indicators. Crucially, no world region is on target to meet SDG 11, which focuses on resilient and sustainable cities and communities, by 2030.

The SDGs are now halfway through their 15-year implementation period and the 2023 SDG Summit, to be held in New York in September, will underline the shortfalls. While the summit will seek to provide “high-level political guidance on transformative and accelerated actions leading up to 2030,” the real challenge will be to convert such good intentions into commensurate action.

City governments have responsibility for many key climate change, disaster risk, and economic development issues within clearly defined boundaries; and it’s within cities that most emissions are generated and most people experience those emissions’ effects. Consequently, city governments are often more successful at making progress on climate change than national governments. Countries would do well to learn from the progress cities have made.

Until very recently, a common response to climate change by governments and individual citizens alike was, “It is not our problem—we can leave it to the next generations.” But kicking the climate change can down the road is clearly no longer an option. Climate change is real and with us now, everywhere.

One major boost toward energy sustainability over the last few years, often driven more by market forces than public policy, has been the great upswing in the installation of solar panels and both onshore and offshore wind turbines. These forms of renewable energy generation now represent the cheapest energy sources per installed kilowatt hour by a substantial margin, despite sometimes still-large subsidies to fossil fuel and nuclear producers.

Yet too many politicians of all persuasions are still not taking climate change seriously enough. Electoral pressure will be needed to convince national governments to put climate change higher up on their agendas and reduce emissions more rapidly.

Fortunately, many city governments worldwide are being proactive in taking both mitigating and adaptive action, no doubt because cities are nowadays where most emissions are generated, and most people experience the impacts of climate change.

Expanded and integrated public transport systems, linked to incentives to promote safe and accessible active travel through cycling and walking over short distances, are increasingly common. Temporary vehicle-free zones introduced during the COVID-19 pandemic are being made permanent in cities such as London and New York.

Many cities, from Oslo to Cape Town and Nanjing to Buenos Aires, are also substantially upscaling urban greening initiatives to provide far more shade and increase urban biodiversity. And they are rehabilitating degraded or canalized rivers, streams, and other wetlands through integrated blue-green infrastructure strategies that embrace improved outdoor leisure facilities.

Imaginative rehabilitation has transformed the previous canalized and degraded Cheonggyecheon Stream below key streets in central Seoul into a popular walkway next to clear water with bird and fish life. An even larger-scale success has been the transformation of derelict wharves and related facilities on the Lower West Side in New York City into the thriving and heavily used Hudson River Park recreational and nature zone.

Such initiatives are creating webs of attractive, shady, pedestrianized precincts and corridors, and in the process are helping to upgrade neighborhoods, including in low-income areas.

Curbing urban sprawl, selectively increasing urban density, and designing new urban areas around climate change—including by means of sustainable construction methods and materials—will become ever more important. A taste of what is to come emerged in late May in Phoenix, the fastest-growing U.S. metropolis, which is characterized by low residential density in a semi-arid environment. The state government responded to the unprecedented multi-year drought gripping the Southwestern United States and dwindling flow of the Colorado River by canceling permits for some already approved suburban expansions.

This signified official recognition that unrestricted sprawl is unsustainable, increasing both the per capita cost of providing infrastructure and raising overall water demand in high-use environments with large lawns and gardens to levels that can simply no longer be met. The urgency of this measure was underlined almost immediately, when the city experienced a record-breaking heatwave from June 30 to July 30 this year, with 31 consecutive days at or above 110 degrees Fahrenheit. The previous record had been 18 consecutive days.

However, government actions are not going to be adequate on their own. Some decisions relate to individual household investments, such as choosing fuel efficient, hybrid, or electric cars; insulating homes and installing passive heating/cooling systems; and installing solar panels or micro-wind turbines on homes, workplaces and community centers or switching to renewable energy supplies. But these steps are unaffordable to many, even if people are willing to take them on principle. Simple government encouragement or imposition of fines for failure to comply will not succeed, but rather cause antagonism and setbacks on urgent issues.

Schemes to assist those with low or no income—the relatively or absolute poor—to cope with environmental change and make appropriate adaptations, like those named above, are therefore vital. Failure to take this sufficiently seriously can have direct political consequences.

This was clearly illustrated in the United Kingdom last month, when local opposition to the mayor’s imminent expansion of London’s ultra-low emissions zone to include the outer suburbs, without adequate compensation or realistic vehicle scrappage payments, played a key role in the opposition Labour Party’s narrow failure to capture former Prime Minister Boris Johnson’s parliamentary seat in a by-election in the Uxbridge and South Ruislip constituency.

The low emissions zone in Glasgow, Scotland’s former industrial heartland, triggers similar perceptions among lower-income residents. And Labour Party mayors in several other major British cities, including Greater Manchester, have sought to postpone introduction of such measure to give residents longer to recover from the economic impact of the COVID-19 pandemic and Ukraine crisis.

Meanwhile, a different approach to such area pricing has long been operational in Hong Kong and Singapore, wherein access to congested central zones alternates daily between cars with license plates ending in even and odd numbers.

Demonstrations and other forms of protest have occurred in various cities, particularly in poorer countries, when regulations and restrictions imposed on environmental grounds are perceived to have negative effects on lives and livelihoods of the poor. This has become a major electoral issue in several West European countries, particularly France and Germany, in addition to the U.K., where many conservative voters reject such policies on principle. Many on the political left also resent implementation of net-zero policies amid economic crises, as illustrated by the recent London by-election.

The importance of this is underlined when, in the same area, one group benefits directly and another experiences negative impacts. This issue is currently playing out in London. People living in low-traffic neighborhoods (LTNs), where vehicular access was restricted and street greenery and furniture added during the COVID-19 pandemic, generally support making them permanent. Conversely, people living on nearby streets, which have experienced increased traffic flows because of diversions around LTNs, complain of increased noise, emissions, and danger, and want LTNs removed.

Overcoming this political challenge will require a change in official attitudes, from unilateral imposition of measures—particularly those that will be expensive or require behavioral change—to active engagement that seeks to understand residents’ anxieties and constraints and identify mutually acceptable ways forward.

One recent proposal in the Financial Times, following Labour’s narrow defeat in Johnson’s constituency, would focus on tighter regulation on taxis and vans in the low-emissions zone—which are seldom driven by locals—as well as restricting the eligibility of newly purchased vehicles that don’t meet environmental standards to drive in the zone, while letting residents keep their existing cars without penalties. This would improve air quality while eliminating most suburban London residents’ grounds for electoral backlash.

Avoiding unintended negative consequences and reducing rather than increasing social inequality are central to achieving just transitions to sustainability and resilience. Top-down directives could have disastrous electoral consequences; engaging with voters and their concerns could create a popular mandate for urgently needed reforms.

[carboncreditcapital]

Understanding Credit Carbon Price: A Key Tool for Combating Climate Change

As the world intensifies efforts to combat climate change, innovative financial mechanisms are emerging to address carbon emissions. One such mechanism is the credit carbon price, a concept that plays a pivotal role in the global push towards sustainability. This article delves into what credit carbon pricing is, why it matters, and how it can shape the future of our planet.

What is Credit Carbon Price?

At its core, credit carbon price refers to the monetary value assigned to a ton of carbon dioxide (CO₂) emissions reduced or removed through carbon credits. Carbon credits are tradeable permits that represent a reduction of one metric ton of CO₂ or equivalent greenhouse gases. These credits are a cornerstone of voluntary and compliance carbon markets, allowing businesses, governments, and individuals to offset their emissions by funding projects that reduce greenhouse gases elsewhere.

The credit carbon price fluctuates based on demand, supply, and regulatory frameworks. It provides a market-based solution to incentivize investments in clean technologies and carbon sequestration projects.

Why Does Credit Carbon Price Matter?

Encouraging Emission Reductions

Credit carbon pricing creates a financial incentive for organizations to lower their carbon footprint. By assigning a monetary value to emissions reductions, it motivates businesses to adopt greener technologies and practices.

Supporting Climate Projects

Revenue from carbon credits often funds projects like reforestation, renewable energy installations, and methane capture. These projects not only reduce emissions but also contribute to sustainable development in local communities.

Promoting Market Efficiency

A robust carbon credit market with transparent pricing ensures efficient allocation of resources. It allows companies with lower abatement costs to sell credits to those facing higher reduction expenses, achieving emissions reductions at the least economic cost.

Factors Influencing Credit Carbon Price

Several factors determine the price of carbon credits, including

Type of Credit: Credits from nature-based solutions, such as reforestation, often command higher prices due to co-benefits like biodiversity conservation.

Market Demand: Growing corporate sustainability commitments and net-zero targets have significantly increased demand for high-quality carbon credits.

Regulatory Environment: Policies and frameworks, such as those under the Paris Agreement, influence market dynamics and credit valuations.

Verification Standards: Projects certified by reputable standards like Gold Standard or Verra generally have higher credit prices due to their perceived credibility.

The Global Outlook on Credit Carbon Price

The global carbon credit market has been growing rapidly. According to market analysts, the credit carbon price in voluntary carbon markets is expected to rise sharply as companies intensify efforts to meet their climate pledges. At the same time, governments are introducing mechanisms like carbon taxes and cap-and-trade systems, which complement voluntary markets by setting mandatory emissions caps.

Despite its potential, the market faces challenges such as inconsistent pricing, lack of standardization, and concerns over the credibility of some offset projects. Addressing these issues will be crucial for the credit carbon price to drive meaningful climate action.

For more info:-

Carbon Credit

Carbon Trading

[mbdxhdr]

Notes on greenwashing

There have been some significant developments in the area of greenwashing.

One of the major steps has been taken by the International Sustainability Standards Board (ISSB), which has published a new set of G20-backed global rules. These rules aim to increase the pressure on companies to disclose how climate change affects their business. The rules are intended to help regulators crack down on greenwashing and have been written as large amounts of money flow into investments that claim to have environmental, social, and governance credentials. However, it will be up to individual countries to decide whether to require listed companies to apply these standards, which could be used for annual reports from 2024 onwards【7†source】.

Several countries, including Canada, Britain, Japan, Singapore, Nigeria, Chile, Malaysia, Brazil, Egypt, Kenya, and South Africa, are considering using these standards. The standards build on voluntary ones from the G20's Task Force on Climate-related Financial Disclosures (TCFD). The UK has already made TCFD disclosures by listed companies mandatory【8†source】.

Moreover, the ISSB is part of the independent International Financial Reporting Standards foundation, which also writes accounting rules used in more than 100 countries. The global securities watchdog, IOSCO, is expected to "endorse" these new standards. An endorsement could be a game changer for regulators around the world as it would bring more rigour to sustainability reporting, aligning it more with financial reporting. Currently, 42% of the world's top 4,000 companies do not provide data on Scope 1 and 2 carbon emissions. Under the new ISSB rules, companies would need to disclose material emissions, which would be checked by external auditors【9†source】【10†source】.

On the other hand, the European Union is finalizing its own disclosure rules, and it and the ISSB have sought to make each other's norms "interoperable" to avoid duplication for global companies. The ISSB requires more detailed disclosures from banks on carbon emissions related to individual sectors such as oil and gas. The ISSB and EU are set to issue guidance on avoiding duplication in the coming months【11†source】【12†source】.

In the United States, the Federal Trade Commission (FTC) is also taking steps to address greenwashing. It's updating its "Green Guides," which will give the agency stronger legal cases against polluters by clarifying when companies' deceptive marketing around sustainability and environmental responsibility violates federal law. The guides, first issued about 30 years ago, are designed to provide industry with guidance on how it can make environmental marketing claims that comply with the FTC Act. They serve to strengthen the FTC's cases when it takes legal action against industry. The new rules are expected to be in place by the end of the year【18†source】【21†source】【23†source】.

These moves by the FTC follow years of formal complaints about often highly questionable claims made by fossil fuel companies, big agriculture, major food producers, and other polluting industries. Environmental groups, clean energy businesses, and others have raised concerns about claims made around carbon neutrality, carbon offsets, "natural" gas, "renewable natural gas", plastic's recyclability, organic labeling, and vague terms that imply environmental responsibility but have no definition【19†source】【20†source】.

Among the claims targeted by environmental groups are the oil industry's assertions that all plastic is recyclable. Numerous investigations have found this is largely not the case, and the vast majority of US plastic that consumers thought would go to a recycling center to be reused is actually burned or buried. Some argue that the FTC should require companies to prove the materials “are collected, sorted, and actually recycled to create a new product”【24†source】【

There have been several recent developments in the field of greenwashing.

1. The G20 has backed new global rules written by the International Sustainability Standards Board (ISSB), which will put more pressure on companies to disclose how climate change affects their business. These standards will be used for annual reports from 2024 onwards and are being considered for use by countries such as Canada, Britain, Japan, Singapore, Nigeria, Chile, Malaysia, Brazil, Egypt, Kenya, and South Africa. They build on voluntary ones from the G20's Task Force on Climate-related Financial Disclosures (TCFD) and are expected to be endorsed by the global securities watchdog, IOSCO. The new norms bring more rigour to sustainability reporting and would require companies to disclose material emissions, subject to checks by external auditors【7†source】【8†source】【9†source】【10†source】【11†source】【12†source】.

2. The US Federal Trade Commission (FTC) is updating its “Green Guides” to strengthen legal cases against polluters by clarifying when companies’ deceptive marketing around sustainability and environmental responsibility violates federal law. These guides were first issued 30 years ago, and the last update was in 2012. The new rules are expected to be in place by the end of the year. Among the claims targeted by environmental groups are the oil industry’s assertions that all plastic is recyclable, a claim which has been found to be largely false【18†source】【19†source】【20†source】【21†source】【22†source】【23†source】【24†source】【25†source】【26†source】.

3. Lastly, a study by Ocean Conservancy claims that banning five key products (cigarette butt filters, straws, cutlery, bags, and foam foodware) could help reduce the amount of plastic waste on beaches and shorelines by 1.4 million tonnes a year, reducing carbon emissions by roughly 7 million tonnes a year, the equivalent of taking 1.5 million cars off the road for a year. The study argues that these items can be effectively banned as they are either not needed or can be easily replaced with reusable options【51†source】【52†source】【53†source】【54†source】【55†source】【56†source】.

Please let me know if you would like more information on any of these topics or if you have other questions.

[seojobnet-blog]

SEA-LNG coalition calls on IMO to regulate all GHG emissions on a full lifecycle basis

Clear and consistent regulation is key to driving maritime decarbonisation. With this in mind, and ahead the International Maritime Organization’s (IMO) 80th Marine Environment Protection Committee (MEPC 80), industry association SEA-LNG calls on the IMO to regulate all greenhouse gas (GHG) emissions from shipping, including carbon dioxide, methane, and nitrous oxide on a full lifecycle, Well-to-Wake, basis. IMO regulation should be goal based and technology neutral with the ambition of achieving convergence between global and regional measures.

At MEPC 80, the IMO is set to revise its Initial Strategy on the Reduction of Greenhouse Gas Emissions from Ships. The revised strategy will contain concrete GHG reduction targets for the sector and is expected to outline a basket of technical and economic measures to be developed to set global shipping on an ambitious path towards aligning with Paris Climate Agreement targets.

Methane emissions associated with the use of LNG as a marine fuel, in particular methane slip in engine combustion cycles, is a topic that has the maritime industry’s complete attention. The industry has made great strides to reduce methane slip on a voluntary basis. Engine technologies already exist with virtually no methane slip, and for those low-pressure engines where it remains an issue, continuing innovations by engine manufacturers have resulted in levels of methane slip falling four-fold over the past 20 years. Further, specific programmes have recently been set up with the aim of addressing methane slip, such as the Methane Abatement in Maritime Innovation Initiative (MAMII) and the Green Ray project. Furthermore, upstream emissions of methane are being addressed by a number of United Nations (UN) and industry initiatives. The highest profile of these is the Global Methane Pledge (GMP), launched at COP26 in November 2021 to catalyse action to reduce methane emissions.

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