ClimateSeed's newsletter
Welcome to ClimateSeed's sustainability newsletter!
At ClimateSeed, our goal is to keep you informed of the latest developments in the environmental sector. In this week's edition, we're excited to bring you carefully selected news and updates that highlight the ongoing efforts, innovations, and challenges in environmental sustainability.?
Our newsletter offers valuable insights into the latest environmental news, from policy advancements and inspiring initiatives to groundbreaking research.?
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Top environmental news highlights
A new analysis by Beyond Fossil Fuels—a coalition of civil society organizations striving for a just transition to a fossil-free, fully renewables-based Europe—reveals that ten EU countries have pledged to transition their power systems away from fossil fuels by 2035 or earlier. This commitment aligns with the International Energy Agency's target to remove all carbon emissions from its electricity sector by 2035 to limit global warming to 1.5°C, as outlined in the Paris Agreement. The ten countries are Austria, Belgium, Denmark, France, Germany, Greece, Italy, Lithuania, Luxembourg, and the Netherlands.
2. France moves closer to ratifying Corporate Sustainability Reporting Directive
France has progressed towards ratifying the "Corporate Sustainability Reporting Directive" (CSRD). The Minister of Justice, Eric Dupond-Moretti, has presented a bill for the directive's ratification, signaling France's commitment to corporate sustainability and transparency. Companies are therefore called upon to actively prepare for these new requirements, especially since the first sustainability reports must be published as early as January 2025. Although this deadline is fast approaching, it offers a unique opportunity for economic players to establish themselves as leaders in sustainability, thereby contributing to a greener, more inclusive future.
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3. European Parliament takes action against greenwashing
In a significant move towards fighting greenwashing, the European Parliament has recently adopted a position on an EU directive aimed at regulating environmental claims made by companies. This directive emphasizes the need for scientific backing of environmental claims and proposes severe penalties for non-compliance: Penalties include exclusion from public contracts, confiscation of income and a fine of at least 4% of annual turnover.?
It aims to foster a more truthful and responsible business landscape regarding environmental advertising and to protect consumers, honest businesses, and the environment from the harms of misleading claims.?
Green claims relying solely on carbon offsetting will remain prohibited. However, companies may reference offsetting and carbon removal schemes in ads if they've maximally reduced emissions and use these schemes for residual emissions. Scheme carbon credits must be certified, meeting standards like the Carbon Removals Certification Framework.
The parliament approved its first reading stance at 467 votes in favor, 65 against, and 74 abstentions. Following the European elections scheduled for June 6–9, 2024, the new Parliament will now need to follow up on the file.
4. France cracks down on fast fashion
France’s lower house of parliament has approved a bill to address the harmful effect of fast fashion, penalizing brands for practices like overproduction and unsold stock destruction. An “eco-contribution” penalty will be introduced for fast fashion brands, scaling with environmental impact, potentially reaching €10 per item or 50% of the sale price by 2030. The legislation aims to promote sustainability and transparency by requiring brands to disclose supply chain details. While supported by environmentalists, critics argue it could hinder innovation and competitiveness. Nonetheless, the bill underscores a global push for more responsible fashion practices. The measures still require a vote in the Senate.
Thank you for reading!