While a growing number of governments and non-State actors are pledging to be carbon-free, the criteria for net-zero commitments can have loopholes wide enough to “drive a diesel truck through”, the Secretary-General decried as his expert group on the matter published its first report on Tuesday.
The?report?slams greenwashing – misleading the public to believe that a company or entity is doing more to protect the environment than it is – and weak?net-zero?pledges. It?provides a roadmap to bring integrity to net-zero commitments by industry, financial institutions, cities and regions and to support an equitable transition to a sustainable future.
According to the experts, actors cannot claim to be ‘net zero’ while continuing to build or invest in new fossil fuel supply or any kind of environmentally destructive activities. They can’t also participate or have their partners participate in lobbying activities against climate change or just report on one part of their business's assets while hiding the rest.
“We must have zero tolerance for net-zero greenwashing. Today’s Expert Group report is a how-to guide to ensure credible, accountable net-zero pledges,” António Guterres said at the launch of the report at COP27 in Sharm el-Sheikh.
Promises cannot be a ‘toxic cover-up’
According to the report, net-zero pledges must be in line with the UN Intergovernmental Panel on Climate Change scenarios which?limit warming to 1.5 degrees.
“That means global emissions must decline by at least 45 per cent by 2030 – and reach net zero by 2050.? Pledges should have interim targets every five years starting in 2025,” the Secretary-General explained.
The targets must also cover all greenhouse emissions and all their scopes. For financial institutions, this means all of their financial activities, and for businesses and cities, it means all emissions – direct, indirect, and those originating from supply chains.
“The message is clear to all those managing existing voluntary initiatives – as well as CEOs, mayors [and] governors committing to net-zero: Abide by this standard and update your guidelines right away – and certainly no later than COP28,” Mr. Guterres underscored.
He also sent a strong message to fossil fuel companies and their “financial enablers” that have pledges that exclude core products and activities poisoning the planet and urged them to review their promises and align them with the report’s guidance.
“Using bogus ‘net-zero’ pledges to cover up massive fossil fuel expansion is reprehensible. It is rank deception. This toxic cover-up could push our world over the climate cliff. The sham must end.”
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