Verra’s Post

The Institute for European Environmental Policy (IEEP) published an assessment of EEA's latest publication, which shows worrying trends in the implementation of the European Green Deal. We will come back to this issue next spring at the Think2030 conference in Brussels on 27 March through the fourth edition of the EGD Barometer. #greendeal #climatechange #justtransition #ThinkSustainableEurope https://lnkd.in/eY_7ymRR

The European Environment Agency's latest update on the 8th Environment Action Programme shows that the European Green Deal is being challenged from all sides. Key indicators, such as energy consumption, consumption footprint, and GHG emissions from land use, land-use change and forestry, are in the red, whereby the objectives set for 2030 will not be met. IEEP expresses concern about the overall state of play of the European Green Deal and calls for decisive and urgent action to protect Europe’s environment and to mitigate better and adapt to the impacts of climate change while taking into consideration the need for a just transition that leaves no one behind. Read the blog by our Executive Director Eero Yrjö-Koskinen ⤵ https://lnkd.in/eWKE6AVb #EUGreenDeal #climatechange #climateadaptation #JustTransition #climatemitigation #energyconsumption #forestry

🌳 The Taskforce on Nature-related Financial Disclosures (TNFD) unveiled proposed forest sector disclosure metrics along with their final recommendations. 📊 These metrics offer specific guidelines to assist businesses in the forest sector in disclosing information based on TNFD's core and additional global disclosure metrics. 🤝 Kudos to WBCSD’s Forest Solutions Group for spearheading the development of these metrics, in collaboration with the TNFD Taskforce and Global Canopy, and with backing from PwC Canada. 🌲 This initiative aligns with FSG’s Forest Sector Nature Positive Roadmap, aiming to accelerate actions to halt and reverse nature loss, set science-based goals, and disclose progress through measurable metrics. #ClimateWeekNYC #ClimateWeekWBCSD #BusinessAction #NaturePositive #ForestProducts #Forestry

To support the implementation of South Africa’s Nationally Determined Contributions (NDC) under the Paris Agreement, the Minister of Forestry, Fisheries and the Environment published the Sectoral Emissions Target (SET) Report (Report) for public comment on 26 April 2024... Read here: https://lnkd.in/d2-Hw_DP #Emissions

(2/2) ...The Scope 3 emissions of some companies are larger than the total emissions of our members’ nations. Volkswagen Group’s Scope 3 emissions are reported at over 400m tCO2e (Scopes 1 and 2 are less than 7m tCO2e combined). Boeing’s Scope 3 emissions are reportedly over 420m tCO2e (Scopes 1 and 2 are less than 2m tCO2e combined). This is higher than Colombia’s total greenhouse gas emissions, even when accounting for emissions from agriculture, forestry, and other land use (AFOLU). Choosing the path that most effectively accelerates decarbonization will be difficult, and we commend the SBTi for taking on this challenge. We support the inclusion of limited and near-term use of rights-based, community centered, high quality carbon credits in Scope 3 emissions abatement if certain conditions are met: ● Projects that supply eligible carbon credits from nature-based solutions should be aligned to the Peoples Forests Partnership Principles. The projects must support human rights, community land tenure, traditional knowledge and customary institutions and follow high quality practices. Funding of activities must reach communities directly. ● Companies must have ambitious decarbonization targets and transparently show the use of the purchased credits. ● Companies must adhere to the mitigation hierarchy. The eventual guardrails must focus on both reducing global emissions and investing into nature. Communities hold the key to restoring and protecting nature at speed and scale. Indigenous Peoples. traditional owners, local communities and Afro-descendants must be included in the conversation on carbon credits for the abatement of Scope 3 emissions alongside companies and academics. Our members, the owners and the stewards of the territories, have ensured the conservation of forests and natural grasslands and its biodiversity for centuries in the fight against climate change at significant cost. The eventual decision on whether to allow carbon credits for the abatement of Scope 3 emissions will impact the flow of financial resources that come to our members’ voluntary carbon market projects, impacting the future of their people. Our mission is to create direct finance flows to rights-based and community centered mitigation activities. We would ask that the SBTi does not increase barriers to finance for communities. We at the PFP are ready to support you in finding a pragmatic approach that drives impact and integrity. Sincerely, Anna Lehmann Executive Director, PFP

🔊The European Sustainable Palm Oil Conference (#SPOD) is just around the corner! With the agriculture, forestry, and other land uses sector accounting for 13-21% of global emissions, the need to transition towards sustainable practices is increasingly urgent. Organised by APAG - Oleochemicals Europe, FEDIOL, IDH, and Roundtable on Sustainable Palm Oil (RSPO), #SPOD is an important event to drive dialogue and action in the palm oil sector. Join us on 22 May in Brussels for a deep dive into how innovative voluntary and mandatory initiatives can support emissions reduction in the palm oil supply chain and the inclusion of smallholder farmers leaving no one behind! In the plenary sessions we will discuss: ☑ Climate change and the responsibility of business ☑ Reducing emissions from agriculture, from theory to practices ☑  EUDR : Meeting expectations In breakout sessions, we will discuss: ☑Integrated inclusive landscape approaches that deliver climate resilience-addressing the gaps ☑Beyond risk; financial institutions as drivers for inclusive change ☑Corporate commitments in the era of climate actions More on the Programme: https://lnkd.in/eHJMB7iw Find a preview here ⤵ #SPOD2024 #SustainablePalmOil #PalmOil #ClimateAction; #ClimateResilience #CorporateCommitments

Recent developments in climate and nature disclosures are highlighting how important natural capital accounting has become for sectors highly dependent on natural resources, like agriculture and forestry, but also for finance institutions that are seeking to optimise capital allocation towards nature-positive investments. Natural capital accounting is an important factor in the ability to prepare investment cases and put in place appropriate metrics to account for change in our natural assets, like the extent and health of wetlands, or provision of ecosystem services, like carbon sequestration. It’s also important in our quest to value ecosystems and the opportunity to secure a stewardship payment for finance conversation and the reversal of biodiversity loss. But this focus on nature-based solutions, and the need to develop viable projects with appropriate risk-return profiles, requires a robust focus and understanding of climate and nature risks and opportunities. Here at EnviroStrat, our experience with regional Greenhouse Gas emissions and water accounting provides a strong foundation for wider natural capital accounting and the ability to support decisions at various spatial scales, from catchment to district or region. Learn how your organisation can best balance the risks and returns as it embarks on viable projects by having a chat with us. Send us a message through LinkedIn today to set up a time to speak. #naturebasedsolutions #environment #sustainablefinance #naturepositive #impactinvestment #sustainabledevelopment #sustainablegrowth #regeneration #regenerativesolutions #esg

Yesterday we launched our 2023 Sustainability Report at an event that was officiated by the Hon. Cabinet Secretary for the Ministry of Environment, Climate Change and Forestry. Themed ‘Accelerating to a Low Carbon World’, the Report covers the progress that we have made in our Sustainability Strategy, ‘Society 2030: Spirit of Progress.’ Some key highlights include increasing our renewable energy use in our operations by 64.86%, up from 25.8% in 2022, and reducing our carbon emissions by 55%. We thank our beneficiaries, project partners and key stakeholders for their support in the past year, and we look forward to continued partnership in the current fiscal year. Read the full report here: https://bit.ly/3t674lS #SustainabilityReporting #PowerOfPartnerships #CurbingClimateChange

European Union REACHES AGREEMENT ON CARBON REMOVAL CERTIFICATION RULES [Council of the European Union] Removing carbon dioxide from the atmosphere is crucial for fighting climate change. EU rules establish a system for certifying carbon removal activities. The first step to boost carbon removal activities in the EU is to set up a reliable system to quantify, monitor and verify such operations. Certification is key to providing more clarity and transparency on such operations and avoiding ambiguity in identifying them. The proposal for a regulation on an EU-wide voluntary carbon removal certification framework aims to: ✅facilitate and speed up the deployment of carbon removal and soil/agricultural emission reduction activities ✅provide criteria for identifying high-quality removals and reduction ✅create business opportunities for the industry and land managers ✅counter greenwashing and build trust The co-legislators – the Council and the European Parliament – are working on a proposal to set up a legal framework to certify carbon removal activities. The proposal, presented by the Commission in 2022, was agreed on provisionally during trilogues in February 2024. The Council adopted its position for the negotiations with the Parliament in November 2023. Under the Fit for 55 package, the EU adopted legislation which requires member states to remove 310 million tonnes of CO2 equivalent by 2030 in the land use, land use change and forestry sector. That sector includes activities related to the use and management of land and forests, which naturally absorb and capture carbon.   In addition, the Council has approved conclusions on carbon farming, following the European Commission’s April 2022 communication on sustainable carbon cycles. The conclusions aim to encourage farming practices which help capture and store CO2. Learn more about Carbon removals in the following link. Source: Council of the European Union https://lnkd.in/eXMh726h

Interesting to see the six NGOs who have come out in support of SBTi's proposal to allow the use of carbon credits for scope 3 emissions are primarily forestry NGOs: https://lnkd.in/gy9uQ6Yu The contours/"sides" of the debate are fairly clear. Some corporate interests and forestry bodies wanting to promote the use of carbon credits to mitigate for fossil fuel emissions and increase the funding of forestry projects vs a broader set of NGOs (WWF, Carbon Market Watch et al, with support from some corporate voices) who are focused on integrity and maintaining that it does not make logical sense to bundle up in value chain and outside of value chain mitigation mechanisms. It's not quite as clear cut as pragmatism vs purity/science, but as a shorthand that's broadly where we are (I think).