International Agreement Reached at COP15 to Halt Biodiversity Loss, Protect Ecosystems
Kunming-Montreal Global Biodiversity Framework has been finally adopted at the COP15 UN Biodiversity Conference in Montreal, Canada. The framework is aimed at ending biodiversity loss this decade, protect natural ecosystems and ramp biodiversity-related financing to developing nations, Key aspects of the new agreement are 2030 targets to effectively halt biodiversity loss and to protect at least 30% of terrestrial, inland water, and coastal and marine areas Read more
ISSB Gives Companies an Extra Year to Disclose Scope 3 Emissions
ISSB of the IFRS Foundation has announced that Companies reporting under the new climate will be given an additional year to report on Scope 3 emissions, or those originating in a company’s value chain and beyond its direct control. It was launched last year at COP 26 , and is currently in the process of developing its first 2 proposed standards for company sustainability and climate related disclosures. Read more
EU Revamps Emissions Trading System with Tougher Goals, More Sectors
Significant revisions to the EU Emissions Trading System (ETS) – the EU’s internal cap and trade carbon pricing mechanism are announced and are stricter now. It includes increasing the system’s targeted emissions reduction goals, and expanding the system to additional sectors. The agreement is a major step towards the completion of negotiations for the European Commission’s “Fit for 55” roadmap – the EU’s proposed strategy to cut greenhouse gas (GHG) emissions by 55% by 2030, compared to 1990 levels Read more
