BCSD Australia News
Business Council for Sustainable Development Australia
Galvanizing forward-thinking companies and organizations to accelerate the transition to a sustainable Australia.
Welcome to this week’s edition of the BCSD Australia newsletter.?
We’re gearing up for next month’s BCSDA ESG Quarter, a vital session where experts will discuss the most recent developments in ESG trends and regulations affecting Australian and global markets.
We're also highlighting pivotal research from the Global Circularity Protocol Impact Analysis by the WBCSD, which underscores the significant environmental benefits and business efficiencies gained through circular practices.
Additionally, explore coverage on tackling plastic pollution and the transformative potential of circular transition indicators in new online courses designed to advance your sustainability knowledge and leadership.
BCSDA is also actively participating in key global sustainability discussions in New York, engaging with international leaders to shape a resilient, sustainable future.
Don’t miss out—join us for a comprehensive dive into these topics and discover how these developments can drive your business forward in our changing world.
Sign up for ESG Snapshot , a concise weekly update for C-suite executives and sustainability and climate professionals in Australia produced by the Business Council of Sustainable Development Australia.
?? Mark Your Calendars for ESG Quarter | 14 OCT 2024 | 1-2 PM AEDT | Online ??
Join us for the BCSDA ESG Quarter, where we'll cover the latest Australian and global ESG trends from July to September 2024.
??What to Expect:
??Murray Griffin, CEO of earthed.au, will break down the key issues from the BCSDA's weekly ESG Snapshot.
??Ilona Millar, Partner at Gilbert & Tobin, will deep dive into the evolving legal and regulatory landscape.
??Karen McWilliams from CA ANZ will update us on the latest ESG reporting standards.
??Tim Buckley from Climate Energy Finance will examine the energy sector—locally and globally.
??Special guest Emma Dawson, Executive Director of Per Capita, will share her insights on the economic impacts of ESG.
Don’t miss this chance to understand how ESG drives business resilience and impacts the economy!
??Register Now:https://lnkd.in/gVhUr_3T
The Global Circularity Protocol (GCP) Impact Analysis by WBCSD – World Business Council for Sustainable Development outlines the potential benefits of adopting circular business practices. Key findings include reductions in material consumption by 4-5%, a 6-7% reduction in greenhouse gas emissions by 2050, and significant decreases in air pollution.
The GCP aims to accelerate the global transition to a circular economy through standardised frameworks for businesses to measure, report, and enhance circularity. It also addresses climate, nature, and equity impacts.
The latest case study, "Evaluating Progress on Plastic Pollution Mitigation: Circularity & Plastic Footprint," developed by EA - Earth Action with the support of WBCSD, sheds light on how businesses can meaningfully reduce #plastic pollution. It explores strategies to narrow, slow, and close plastic loops, driving impactful change.
Key actions to drive impact:
?? Narrow the Loop: Reduce the total material use, especially problematic plastics, through life-cycle assessments.
?? Slow the Loop: Extend product life via reuse, repair, and refurbishing, reducing waste.
?? Close the Loop: Enhance product recovery through recycling to keep materials in use.
To measure effectiveness, companies can leverage WBCSD's #CircularTransitionIndicators (CTI) alongside the plastic pollution impact metric from the Plastic Footprint Network. These tools offer a roadmap for corporate accountability in the battle against #plasticwaste .
WBCSD is excited to announce our latest offering: self-paced CTI courses designed to help you drive sustainable innovation and stay ahead of evolving circular-economy regulations. Whether you’re a sustainability professional just starting out or looking to deepen your expertise, our courses offer the tools and knowledge you need to lead the change.
?? Foundation Course: Build your circularity knowledge in just 3 hours. Perfect for those beginning their journey into sustainability, this course covers essential metrics like material and water circularity.
?? Practitioner Course: Take your skills to the next level in 5 hours with our CPD-certified course. Learn the seven-step CTI process and gain practical skills to apply circularity metrics within your organisation.
?? Why Enroll?
Master circular metrics, including material and water circularity, as well as financial indicators.
Benefit from flexible, self-paced learning that fits your busy schedule.Earn a CPD-certified certificate, enhancing your professional growth and credibility.
Until 27 September, we are on the ground at several key events driving the global sustainability conversation: the United Nations Summit of the Future, WBCSD – World Business Council for Sustainable Development Council Meeting, Climate Group #ClimateWeekNYC24, and the Nature Positive Hub at Climate Week.
These events bring together business leaders, policymakers, and innovators to explore critical topics like corporate reporting, net-zero transitions, circular economy solutions, and nature-positive strategies. We look forward to sharing insights and collaborations that will strengthen Australia's role in shaping a sustainable, climate-resilient future.
The We Mean Business Coalition has just launched a call to action from business for ambitious and investible nationally-determined contributions (#NDCs ) backed by clear targets, policies, and timelines.
? By setting ambitious NDCs governments will give businesses confidence in their shared commitment to creating a competitive clean-energy and nature-positive economy.
?? Translating targets into consistent, clear and stable policies will unleash the investment ready to flow away from fossil fuels and into the thriving clean industries of the future and the natural systems that underpin them.
?? Listening to the companies already transforming and engaging to co-create positive solutions with progressive businesses will further help to build and maintain momentum and investment.
By doing the hard but necessary work together, governments and companies can be a powerful catalyst for change.
?? Did you know that the Mekong Delta at Vietnam’s southern tip is one of the world’s most fertile regions - and a major rice exporter?
?? Did you also know that sustainable rice cultivation requires a healthy surrounding ecosystem, particularly regarding critical ecosystem services such as freshwater supply, filtration, dilution and erosion control?
Check out our #NaturePositive deep dive on #rice to understand the process and priorities for developing a context-specific #nature strategy for this critical #landscape ?? https://lnkd.in/eKra8x3a
领英推荐
?? Target setting is an essential lever for corporate transformation and #TransitionPlanning .
??The Science Based Targets Network methods provide companies with the most in-depth framework to help them examine and understand their relationship with #nature . ?
With the support of Quantis , WBCSD convened 12 advanced member companies in a #PreparerGroup to work through the #SBTN methods together and:
?? Improve understanding of the SBTN methods,
?? Share best practices and
?? Support the development of nature targets. ?
We’ve summarised the lessons and insights from the Preparer Group as well as the experiences of WBCSD members that participated in an SBTN’s own pilot, and proposed ways to accelerate corporate ambition and accountability on nature in our latest briefing: https://lnkd.in/eNgEVp96
“Estimates are higher than previously thought – with at least $2.6 trillion now funding the destruction of #Nature , endangering the chances of meeting our nature and climate goals,” - Christiana Figueres
In an exclusive, Patrick Greenfield writes on the updated research by Doug Koplow and Ronald Steenblik , supported by Business for Nature , revealing that the world is spending at least $2.6 trillion on subsidies that harm our planet.
Since 2022, the annual total of environmentally harmful subsidies is much higher than previously estimated -? equivalent to about 2.5% of global GDP.
Whilst nearly all governments committed to the #BiodiversityPlan in 2022 and pledged to repurpose at least $500m of the subsidies a year by 2030, there are still critical gaps:
?? Many governments are still playing billions of dollars in tax breaks, subsidies, and other spending that directly work against the goals of the 2015 Paris #Climate agreement and the Biodiversity Plan.
?? Many governments are unaware of the true extent of environmentally harmful subsidies.
?? Subsidies are being very poorly targeted, such as places like Nigeria that have tried to reform subsidies and have received backlash from the general public who it as the only benefit they’re getting out of the government.
Environmentally harmful subsidies (EHS) contribute to air and water #Pollution , #ClimateChange ,#BiodiversityLoss and land degradation, ultimately driving the destruction of #Ecosystems and species extinction.
As of 2024, research by Doug Koplow and Ronald Steenblik has found that the world is spending at least $2.6 trillion a year on harmful subsidies, an increase of $0.8 trillion from the 2022 estimate. Business for Nature has produced an addendum, reflecting on:
?? Target 18 of the #BiodiversityPlan , committing all signatory governments to identify, and then eliminate, phase out, or reform incentives and subsidies harmful to biodiversity by at least $500 billion per year by 2030.
?? New guidance that we’ve published outlining the steps governments should take to reform harmful subsidies.
?? The growing call from the private sector in favour of EHS reform, where there’s a significant opportunity to incentivise businesses to restore nature, tackle the climate crisis and prioritise initiatives that enable communities to thrive.
?? The increase in EHS globally, including the first-event quantification of subsidies to the mining (excluding fossil fuels) and plastics sectors, estimated at $40 billion and $30 billion respectively.
We all rely on #Nature : our societies, our economies and our businesses fundamentally depend on nature and its services. However, nature is in crisis.
In 2022, 196 countries adopted the historic #BiodiversityPlan , a roadmap for how to halt and reverse nature loss by 2030.
Whilst progress has been made, and there are reasons to be hopeful, much more needs to be done. In the countdown for #COP16 , we need:
?? Governments to strengthen policies that incentivise #NaturePositive actions and hold businesses accountable.
?? Businesses to scale up actions to protect, restore and sustainably use nature to contribute towards a nature-positive economy for all by 2030.
?? Businesses and governments to work together through ambitious and radical collaboration.
This is the race of our lives, and we need to act decisively and collaboratively at COP16 and beyond.
WBCSD is thrilled to announce our latest blog, co-authored by Cami Daeninck and Richard Roberts at Volans , in collaboration with WBCSD. This post explores how trade associations can transform from passive participants to dynamic drivers of climate action.
Trade associations are often cited as critical blockers of climate policy. Yet, in many cases, they can and do also play a constructive role.
For companies seeking to promote a science-based policy agenda, getting a handle on what your trade associations are doing and saying is essential. In this new thought-provoking piece about mobilising trade associations as a force for good, Volans identifies four distinct categories of associations:
?? Accelerators: associations that consistently and actively lobby for a science-based, Paris-aligned policy agenda
?? Sleeping giants: associations that broadly support the goals of the Paris Agreement but do very little to actively promote Paris-aligned policies
?? Conflicted catalysts: associations that support the goals of the Paris Agreement in principle, but often lobby to delay or weaken climate policies in practice
?? Blockers: associations that consistently and actively lobby against a science-based policy agenda
Categorising associations in this way enables companies to be smart about targeting their engagement efforts to maximise impact.
What would a mapping of your company’s trade associations look like?
This year’s theme – Beyond Scope 4: Nature in the Supply Chain – will focus on the critical role of supplier engagement, extending beyond Scope 3 to encompass broader nature-related risks and opportunities. ?
Attendees will also gain insights into the evolving role of sustainable finance and the direction of corporate disclosure, both keys to advancing supplier engagement efforts. ?
Exclusive presentations will be delivered by senior officials from METI (Ministry of Economy, Trade and Industry), MoE (Ministry of the Environment), and MLIT (Ministry of Land, Infrastructure, Transport and Tourism).
??Reflecting on the key discussions covered, Jeff Robertson , Vice-Chair of the #GSSB , said:
“Today the GSSB received several updates related to the GRI’s Sector Standards development work. The #FinancialServices Sector Standards project is well underway, involving 40 sector experts across three technical committees. In the coming months, GRI is also planning to undertake a review of the Sector Program to assess interim outcomes and recommend next steps.”