Sohail Butt FCA’s Post

Today, edie have highlighted that: "Three environmental organisations – Friends of the Earth, ClientEarth and Good Law Project – are once again taking the UK Government to the High Court over what they deem a deficient climate action plan." Friends of the Earth lawyer Katie de Kauwe said: “We believe the Government’s revised climate action plan is a complete pipe dream. “It lacks critical information on the very real risks that its policies will fail to deliver the cuts needed to meet legally binding carbon reduction targets and relies too heavily on unproven technologies.” My interest was piqued on the comment that said "relies too heavily on unproven technologies". It is not often you will hear me defend our government of late, but it seems they are stuck between a rock and hard place, because when we are trying new things we have to trial new technologies. And in fact new technologies could be the UKs USP if we were braver in trialing more technologies, failing more quickly and learning from each experience. Particularly when you create an eco system that nurtures, grows and retains technologies to solve not just UK challenges but global challenges across energy security, food security, national security and dwindling resources. Is anyone aware of existing proven technologies that can support the UK's carbon reduction efforts by 2050? Surely if they already existed we would be using them already? It would be great to hear in the comments if there are existing technologies available that you think we would could be using to greater effect on an individual and company level. #energyefficiency #sustainability #sustainableenergy #manufacturing #ukmanufacturing #ukmfg #technologyinnovation #technologystrategy #foodsecurity #nationalsecurity #energysecurity https://rb.gy/es0qx6

Agreed, not such an impressive and comprehensive ESG codification scheme as in the EU, but this legislation marks the first industry-agnostic US regulation that mandates corporate reporting of greenhouse gas (GHG) emissions and climate risks in the United States. Scope is broad (public and private) and limited assurance should be provided. Note that the State of California is an over 3.000 billion USD size economy (around three times the size of the NL). A further proof of the rapid codification of environmental based reporting in the world.

California, the world’s 5th biggest economy, a leader of enviro legislation, and home to an increasing numbers of organic and man-made natural disasters, is poised to harmonize climate disclosure law with EU’s and ISSB, which would apply to all large companies (not just listed). Great detail on the law and why it should be supported here. https://lnkd.in/eufewvw7 Michael Gerrard #ESg #climatechange #climatefinance

As climate regulation comes into focus and effect, the need for CPA quality standards in non fincancial reporting is going to play a big role in setting and meeting those reporting standards. SB253 and SB261 will impact public and private companies alike, the #wsj article below features my indefatigable colleague Mallory Thomas and her take on the impact of esg regulatory changes on organizations…well worth a read! #bakertilly #esg #sustainability

The Importance of Corporate Climate Disclosure and Measuring the Financial Costs of Environmental Impacts - Columbia Climate School: Under the BIDEN Administration, there has been an effort to do a better job of measuring public and private environmental impacts. The federal government is trying to develop ways of improving the measurement of environmental costs and benefits of public investments and is also trying to stimulate the development of measures of private sector environmental impacts and risks. The emphasis on private sector sustainability metrics is seen in the rulemaking of the U.S. Securities and Exchange Commission (SEC). The enhancement of public sector sustainability metrics is happening in the U.S. Department of Commerce's Bureau of Economic Analysis in collaboration with other federal agencies. https://lnkd.in/gARp3dvA

I was honoured to collaborate with a Europe wide network of leading academics who contributed to this new GreenDeal-Net Report on the Governance Regulation of the Climate and Energy Union ("the Governance Regulation"). I worked on the access to justice and public participation sections of this report. The paper is entitled 'Review of the Governance Regulation and the European Climate Law: Upgrading the EU’s Procedural Climate Governance.' This work was carried out under the #AccessToJusticeObservatory project, a collaboration between Technological University of the Shannon Athlone, and Environmental Justice Network Ireland, funded by ECF. The report highlights the urgent need for a thorough revision of the EU's Governance Regulation of the Climate and Energy Union, and the EU Climate Law, if the European Union and its Member States are serious about meeting their Paris Agreement targets. There are considerable problems with how the Governance Regulation is functioning in the area of Climate Planning, with the lack of public participation in EU climate planning the subject of a long running implementation case before the Aarhus Convention Compliance Committee & the Aarhus Convention Meeting of the Parties (Draft Decision VII 8f of the 2021 MoP & Implementation decision M4 concerning the EU). There are also issues with the lack of clear provision in the legal framework for environmental assessment of the impacts of proposed climate plans, lack of access to plain, clear information about the proposed measures, and no clear provision for access to justice in challenging Govt climate plans. This is in addition to issues with duplication and multiplicity of climate planning obligations, which could be streamlined greatly to assist both Govts and those who wish to engage with these plans, who are currently faced with consultation "overload" but very little opportunity for genuine engagement. There are many small but highly effective changes that could be made to the Governance Regulation to simplify the climate planning system and to ensure proper accountability - small changes in wording to the text of the regulation could make a massive difference. There are also some cross-cutting measures that could dramatically improve Aarhus rights across the EU as well as in relation to the Governance Regulation’s climate planning obligations, such as an Access to Environmental Justice Directive. Recent decisions and findings from international fora like the European Court of Human Rights in Klimaseniorinnen and the Advisory Opinion of the International Tribunal of the Law of the Sea (#ITLOS) on the Request by Small Island States, underscore the power of accountability mechanisms to move the dial on climate responsibilities of States, and the importance and empowerment of access to justice in environmental and climate matters.

Friends of the Earth, ClientEarth and Good Law Project are taking the Government to court on the basis of breach of the Climate Change Act 2008 for the second time. We believe that the Government’s carbon budget delivery plan, published following our win last year in relation to their previous, legally deficient net zero strategy, is inadequate and once again falls woefully short of their legal obligations. The Committee on Climate Change’s latest report concluded that there are credible policies in place for less than 1/5 of emissions reductions needed to meet the sixth carbon budget. We’ve just had the hottest June on record in this country; it’s high time the Government got its act together and took the climate crisis seriously. #climatejustice Friends of the Earth

ℹ A lack of US climate reporting regulation may pose negative side effects to US companies in the long run as they will have to adhere to stronger EU compliances. The #SEC reports on this ongoing issue as it prepares to release its climate regulation in the coming years. 📊 The EU's #CSRD, appears more comprehensive than the SEC’s proposal, particularly in demanding comprehensive reporting on #scope3 supply chain emissions. However, in some US states, climate disclosure is becoming more important as recently California signed legislation that will require comprehensive emissions disclosures from large U.S. companies operating within the state. ⏯ Read more via the article below! #sec #esgreporting #esgdisclosure #csrd #sustaira #esg #grc #climatereporting

➡️ What's new in California's Climate Agenda? ✨ California continues to lead in climate action with its newest law: Bill AB 1305, The Voluntary Carbon Market Disclosures Business Regulation Act (VCMDA). Effective January 2024, this law requires organizations in California selling carbon offsets to share detailed project information on their websites. Non-compliance can result in fines of up to $2,500 USD per day. To gain a deeper insight into the specifics of this impactful change, continue reading our latest article below >> https://lnkd.in/d-Tn9rnC #ESG #sustainability #californiaregulations #SB253 #SB261 #climateregulations #cority #empowerbetter