??? Embracing Change in Carbon Markets: Key Updates! ?? Sign up today for free to learn about Atmos Climate: https://app.tryatmos.com/ 1?? G7 Communique on Climate Finance: G7 leaders commit to setting new global goals for climate finance at COP29, aiming to bolster international efforts in addressing climate change impacts. 2?? Environmental Accounting Rule for Carbon Credits: The FASB is developing clear standards for accounting environmental credits like carbon credits and RECs, enhancing transparency and consistency in financial reporting. 3?? SBTi’s Controversial Scope 3 Changes: The SBTi proposes allowing companies to offset Scope 3 emissions with carbon credits, sparking debate over its potential impact on climate action effectiveness and equity. 4?? Natura Cosmetics’ Carbon Integrity Platinum Claim: Natura achieves a Carbon Integrity Platinum Claim by offsetting 100% of its emissions with high-quality carbon credits, setting a benchmark in sustainability for Latin American companies. 5?? Howden’s Carbon Credits Warranty & Indemnity Policy: Howden introduces the world’s first warranty and indemnity policy for carbon credits, boosting market confidence by safeguarding against project-level fraud. This innovative policy empowers developers to add value and reliability to their carbon credit offerings, fostering trust and sustainability in the market. These developments highlight the growing importance of carbon markets, accounting practices, and corporate responsibility in addressing climate change. ???? ??For more such trending news, sign up at tryatmos.com
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????To all Swiss colleagues out there???? As of this year, a new ordinance requires Swiss companies to not only report on their climate impact but also on their climate-related business risks and opportunities for the 2024 business year, specifically on financial risks related to climate change, the business impact on the climate and GHG emission reduction targets. A central tool introduced to do this is climate scenario analysis following the TCFD (Task Force on Climate-related Financial Disclosure) guidelines. First reports published in 2025 are intended to enhance transparency around climate-related financial risks for investors, customers and other stakeholders, while also aligning with international disclosure standards (e.g. GRI, SASB). In case you already disclose these impacts and targets in your non-financial reports according to TCFD, it is presumed you have fulfilled the Ordinance reporting obligations. Either way, South Pole can help you navigate through these regulatory frameworks and ensure compliance. I also recommend referring to our webinar on the presumed impact of the ordinance on Swiss companies: https://lnkd.in/d6vzZVGX
Preparing for Change: The Impact of Switzerland's Climate Disclosure Ordinance on Companies
https://www.youtube.com/
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In the face of climate challenges, accountants serve as key advocates for integrating sustainable practices into core business strategies. Be part of the dialogue at the #ICPAK41stAnnualSeminar #Edition2: https://ow.ly/7IYT50U2XRA that kicks off 10 days. ^CA
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Banpu has?taken proactive steps to enhance transparency and sustainability responsibility.?Our?second?Climate Change Report?has been released,?disclosing?information?accordance with?the Task Force on Climate-related Financial Disclosures (TCFD) recommendations. You can read the full report here. https://lnkd.in/gXj7S9-J #Banpu?#SmarterEnergyforSustainability
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Tomorrow I will have the great pleasure to speak at BEI’s virtual forum on Green Finance, talking about how innovative instruments can be identified and used to support climate action in LATAM and other emerging economies. Join us and join the conversation! #greenfinance?#climatefinance?#climateaction
Ricardo's Guido Cocco will be on the panel of this week's virtual forum from British Expertise International discussing how private sector financial instruments could accelerate climate change #mitigation and #adaptation efforts. June 13th, 10.00 (BST). To join: https://lnkd.in/dSDxGQC2
Innovative Financial Instruments for Climate Mitigation and Adaptation
britishexpertise.org
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Net-Zero Policy Updates In May, the Biden-Harris Administration revealed new Principles for Responsible Participation in Voluntary Carbon Markets (VCMs). These principles place incentives for the responsible use of carbon credits and clear guardrails around the market in order to propel credible and ambitious climate action. 1. Carbon credits and the activities that generate them should meet credible atmospheric integrity standards and represent real decarbonization. 2. Credit-generating activities should avoid environmental and social harm and should, where applicable, support co-benefits and transparent and inclusive benefits-sharing. 3. Corporate buyers that use credits (“credit users”) should prioritize measurable emissions reductions within their own value chains. 4. Credit users should publicly disclose the nature of purchased and retired credits.? 5. Public claims by credit users should accurately reflect the climate impact of retired credits and should only rely on credits that meet high integrity standards. 6. Market participants should contribute to efforts that improve market integrity. 7. Policymakers and market participants should facilitate efficient market participation and seek to lower transaction costs. We applaud organizations such as AMS Fulfillment that are engaging with these markets in ways consistent with these principles and encourage more to do so. In the meantime, the U.S. Government will continue working to tackle the global climate crisis while expanding economic opportunities for Americans and our partners across the world.
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Wanna make something nice for the #climate and the #planet? push your #finance and #legal departments for carbon accounting and transparency everywhere, the world is a big chain of interdependency. making everything visible is the answer, push and embrace #CSRD and due diligence directive reporting if you are in EU https://lnkd.in/erX9br-7
Why Accountants will Solve Climate Change | Kenneth Van den Bergh | TEDxKULeuvenBrussels
https://www.youtube.com/
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The U.S. Securities and Exchange Commission's March 2024 decision to exclude Scope 3 emissions from climate disclosure rules has sparked criticism. Critics argue that the rules fall short by ignoring the most impactful emissions. How will this affect future transparency and accountability of Scope 3 emissions in the U.S.? For more insights, download our report:https://lnkd.in/d7reWEpQ. #ClimateDisclosure #Scope3Emissions #Transparency #Accountability
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The Aotearoa New Zealand climate standards have come into effect, requiring around 200 organisations to disclose detailed information about the impacts of climate change on their operations. The Standards aim to support the allocation of capital towards activities that align with a transition to a low-emissions, climate-resilient future. They help investors to gain a better understanding of the full financial implications of climate change on organisations, which will in turn be expected to influence where capital flows. https://lnkd.in/d_hBHkfM #climaterisk
Aotearoa New Zealand’s climate-related disclosures: 2024 and beyond
pwc.co.nz
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In the face of a climate emergency it's easy to get disheartened. But we don't want to ignore the fact that companies are making progress and taking steps to introduce effective carbon accounting and carbon reduction plans. ?? Having supported businesses via our SmartCarbon Calculator for several years, we've got the data to show that organisations are stepping up their efforts. Let us explain how: https://loom.ly/hLm0HYA
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? Climate negotiations update ? The annual meeting of the UN Subsidiary Bodies for Implementation (#SBI) and Scientific and Technological Advancement (#SBSTA) is taking place now in Bonn, until 13 June 2024. Legal Response International has put together another fantastic resource on #climatefinance, which is (as usual) set to be one of the main sticking in points in climate negotiations this year. The New Collective Quantified Goal on Finance (which will replace the USD 100billion annual target agreed in 2009) expected to be adopted at #COP29 in Baku in November. Other agenda items to follow are: ? Implementation of the outcomes from the First Global Stocktake (#GST), including the critical decision to "transition away from fossil fuels". These outcomes inform countries' next round of nationally determined contributions (#NDCs), due in 2025; ? Adaptation, particularly progress toward agreeing the global goal on adaptation (#GGA), and assessment of countries' national adaptation plans (#NAPs); ? Transparency, including the development of reporting tools under the Enhanced Transparency Framework (#ETF) and support for developing countries to prepare their first transparency reports (#BTRs); ? Just Transition, with the first dialogue under the Just Transition Work Programme taking place; ? Gender, with a 3 day workshop taking place to assess progress on gender-responsive action under the Enhanced Lima Programme and the Gender Action Plan... Follow Legal Response International for more updates on the ground and useful resources. #SB60 #ClimateNegotiations #Bonn
Learn about the New Collective Quantified Goal on Climate Finance - a global initiative aiming to align financial flows with low greenhouse gas emissions pathways while supporting developing countries. From determining finance quantum to enhancing transparency, the NCQG negotiations are shaping the future of climate finance. Stay informed with our briefing paper: https://lnkd.in/e_ExRuNx
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