Search Results for: Greenwash

More progress still needed on sustainability assurance

Stuart Mitchell

New analysis has revealed two-in-three large companies obtain assurance on at least some of their sustainability disclosures. While a welcome step towards more robust and reliable data, an uneven global picture underlines why GRI is calling for mandatory assurance of sustainability reporting to become normal practice. The State of Play: Sustainability Disclosure and Assurance 2019-2022, published by the International Federation of Accountants (IFAC) on 22 February, involved over 1,400 companies from 22 countries. The IFAC findings include: Assurance on some sustainability disclosures is now provided by 69% of companies (a…

Carbon Credits Face Biggest Test Yet, Could Reach $238/Ton in 2050, According to BloombergNEF Report

Stuart Mitchell

Ongoing scrutiny and reputational issues made 2023 a challenging year for the voluntary carbon market. 2024 is set to be a determining year for the future of the market, tied to whether confidence in carbon credits can be restored. Doing so could drive companies to purchase billions of carbon credits annually, elevate prices over $200 per ton and build a market valued at over $1.1 trillion annually by 2050. However, failure could result in the death of the broader market, according to BloombergNEF’s (BNEF’s) Long-Term Carbon Offsets Outlook 2024 report.…

Rising disclosure numbers show more companies considering climate and nature impacts, but just under 400 reporting data aligned with CDP’s highest benchmark

Stuart Mitchell

CDP – the global environmental disclosure nonprofit – has scored over 21,000 companies based on information reported through its climate change, deforestation and water security questionnaires. Just under 400 (2%) of these have been named on its 2023 A List for disclosing actionable, high quality environmental data. Disclosure is a critical tool for achieving net-zero targets and avoiding greenwashing, tracking progress against the Paris Agreement goals – and providing robust data and recommendations for the Global Stocktake. A List companies are those with the most accurate picture of their environmental…

New report finds investors view the quality of available climate data as “insufficient”, recommends broader use of high quality, independent assurance

Stuart Mitchell

With the growing climate crisis creating significant risks and opportunities in capital markets, the Ceres Accelerator for Sustainable Capital Markets released a new report today sharing investor insights on the quality of climate data, where the most critical credibility gaps lie, and how high quality, independent assurance can help close those gaps.  The report, Closing the Gap: Investor Insights into Decision-Useful Climate Data Assurance, outlines the role of third-party assurance in promoting efficient capital markets and gives recommendations on how data preparers can incorporate assurance over climate. The message from…

OVO cuts offsets from its pathway to true decarbonisation by 2035

Stuart Mitchell

OVO has doubled down on its commitment to reach True Net Zero by 2035 in its new Plan Zero report launched recently, radically reducing its reliance on offsets and increasing investment in energy efficiency measures for customers. This follows the latest climate science guidance by SBTi, detailing a true and transparent pathway to decarbonisation. OVO is calling for companies to do more to reduce their reliance on offsets when setting net zero targets, and do more to prevent carbon entering the atmosphere. A direct response to the climate crisis, Plan…