Jacob Elkhishin’s Post

Whilst the passage of legislation can appear dry on the surface, it's important to mark a milestone in Australia's net zero journey: the Australian Parliament passed landmark legislation yesterday which establishes a Net Zero Economy Authority and mandatory climate-related financial disclosures. Well done Carbon Market Institute (CMI) colleagues, and others, who have supported the development and improve the climate disclosure framework. https://lnkd.in/gHAN9EY4 #climateaction #climatedisclosure # auspol

It’s official, an ISSB-aligned mandatory climate reporting regime in Australia was introduced into the House of Representatives on 27 March 2024.   While the first group of businesses (larger entities) are required to report against the new climate-disclosure requirements from 1 January 2025 – this also includes the emissions of their suppliers. This is as part of the 'Scope 3' emissions component – emissions that occur up or down a company's supply chain. We’re working closely with carbon accounting firm ClimateClever to help businesses start the process now – it’s about putting a plan in place to: 1. Start measuring your impact and keep track of emissions 2. Understand your impact 3. Be ready to report on, and communicate your climate impact story. In addition to crafting standard climate reports, we can analyse your climate data and curate a compelling sustainability narrative. These narratives can be integrated into your annual or sustainability reports, as well as blog/website articles. Book a complimentary 30 minute conversation to learn more. #mandatoryclimatereporting #SMEs #carbonaccounting #carbonreporting

It seems that Swiss climate legislation is not slowing down in 2025 On Friday, the Swiss Federal Council launched a public consultation on proposed amendments to the Swiss Climate Reporting Ordinance. This ordinance, which came into force earlier this year, specifies companies’ requirements to report on climate matters. In-scope companies must start making climate-related disclosures based on the TCFD recommendations in their 2024 financial reports (to be published in 2025). The proposed revision aims to align Swiss rules with evolving international standards. Key updates include: 🔹 Allowing companies to meet their reporting obligations by following internationally recognized standards, such as the ISSB framework, or the ESRS (EU sustainability reporting standard). 🔹 Requiring companies to include a roadmap in their reports, detailing how they plan to achieve net-zero emissions by 2050, in line with the new Climate and Innovation Act (see https://lnkd.in/gjXczRwS for more information) 🔹 Specifying minimum requirements for roadmaps of financial sector companies to guide financial flows in a climate-responsible way. These include quantitative, asset class- and sector-specific, science-based reduction targets, along with measurable interim targets for all relevant greenhouse gas emissions. The public consultation will run until 21 March 2025, with the revised ordinance expected to take effect in 2026. See the official press release and consultation documents here: https://lnkd.in/gUmmRyw3 👉 Follow me for more insights on ESG, climate, and sustainability in Switzerland.

Climate reporting is a growing need for companies. According to ESG Today, 'New laws and regulations at the state and federal levels in the U.S. are anticipated to create mandatory requirements for thousands of companies to provide climate-related reporting, in areas including value chain emissions and climate-related risks, even in the potential absence of climate reporting rules from the SEC, according to a new report by Fitch Group’s sustainability-focused analytics business Sustainable Fitch.' While we don't know the future of national politics, we do know that most large companies will have compliance obligations for climate reporting one way or another. If your company wants to learn more about how to de-risk the carbon offsetting component of your climate program, and create climate reports to be proud of in the process, please reach out, or visit www.greenomix.com. https://lnkd.in/gBEPD_yK

In a significant moment for climate policy, Washington State is witnessing a critical showdown over its landmark cap on carbon emissions. Dubbed as the "Greenest Governor," Jay Inslee has emerged as a key figure in the battle to preserve this legislation, which has garnered support from both environmentalists and one of the largest oil companies in the world. The law, designed to reduce carbon emissions and combat climate change, represents a bold step toward a sustainable future. It sets a limit on carbon pollution from major sources, encouraging businesses to adopt cleaner practices and invest in renewable energy. This approach aligns with global efforts to address the climate crisis, fostering a healthier environment while potentially spurring economic innovation. However, as we approach the upcoming vote, concerns about rising energy costs have surfaced among voters. Critics argue that while the environmental benefits are clear, the financial implications for households and businesses could be significant. This highlights a fundamental challenge in climate policy: balancing environmental goals with economic realities. The support from diverse stakeholders, including environmentalists and large corporations, indicates a growing consensus on the need for action against climate change. Yet, it also raises questions about the complexity of public perception. How do we effectively communicate the importance of long-term environmental benefits against short-term economic pressures? This pivotal moment underscores the necessity for continued dialogue and education around climate legislation. It challenges us to rethink how we frame the discussion about sustainability, pricing, and the overall benefits of a greener economy. Engaging the public in meaningful conversations about energy costs, environmental impacts, and potential innovations will be crucial in shaping the future of climate policy. As Washington State voters prepare to make their decision, we are reminded of the delicate balance policymakers must maintain. By advocating for transparency, stakeholder collaboration, and a clear understanding of the economic impacts, we can pave the way for policies that not only prioritize our planet but also support the financial well-being of our communities. In the coming weeks, let’s stay informed, engage in constructive discussions, and advocate for sustainable practices that benefit both the environment and our economy. The choice at hand is not just about a law but about envisioning a future where economic growth and environmental stewardship go hand in hand. U.S.

🌎 Canadian Mandatory Climate Disclosure Rules: What's Coming? 2024 brought significant developments in mandatory climate-related disclosures, both in Canada and globally. But for Canadian public companies, the timeline and specifics of these requirements remain uncertain. 📢 Stay informed: Get clarity on the evolving disclosure regime and what it means for your organization. 📥 Follow the link to read more and access the full resource! #OHSInsider #ClimateDisclosure #Sustainability #CanadianRegulations #CorporateGovernance #ESGCompliance #PublicCompanies #StayInformed

Nature-based solutions provide 30% of the mitigation needed for 2030 climate goals and high integrity carbon markets have also consistently shown to advance corporate climate action (when it costs something to emit - you move faster). Despite this potential, nature based solutions receive less than 10% of international climate finance. The US Government’s statement recognizes the challenges carbon markets have faced and details principles meant to address those concerns: - ensure credits are credible, represent real decarbonization, and avoid harm if not provide co-benefits; - ensure buyers of credits prioritize emission reductions in their own value chains, publicly disclose details of any credits used, and make accurate claims using only high-integrity credits. The Biden Administration’s thinking is well aligned with WMBC's Principles for Corporate Climate Leadership on the Role of Nature-Based Solutions. "Markets not only create environmental externalities, but when well-designed, can also be used to fix them." https://lnkd.in/gDmHKybU

https://lnkd.in/gpcYjp8e   The new legislation inspired by the Climate Communists will require companies to disclose their greenhouse gas emissions and explain how a range of future climate scenarios could impact their business, in a sustainability report filed alongside their financial data.   Initially, the legislation will apply only to Australia's largest companies but by 2027, thousands of corporate and not-for-profit organisations will be included.

The quadruple bottom line of planet, people, profits and purpose is a balancing act that will need a 7 generations mindset! There is much to learn from Indigenous peoples in sustainability planning, standards setting and policy reform for shared prosperity.

📢 Canada Mandates Climate Disclosures... But Are We Missing a Crucial Voice? Canada's move towards mandatory climate disclosures for large companies is a step in the right direction. But as we navigate this shift, it's crucial to ask: Whose knowledge are we prioritizing? Indigenous communities have been stewards of the land for millennia, possessing invaluable insights into environmental sustainability and climate resilience. Their traditional knowledge systems offer unique perspectives on climate change impacts, mitigation, and adaptation. To truly advance meaningful climate action, we need to: 1. Include Indigenous voices in policy-making: Ensure Indigenous communities have a seat at the table when shaping climate disclosure requirements. 2. Recognize Indigenous knowledge systems: Value and incorporate traditional ecological knowledge into climate risk assessments and reporting frameworks. 3. Support Indigenous-led climate initiatives: Empower Indigenous communities to lead climate solutions that protect their lands and waters. Let's make sure Canada's climate action is inclusive and informed by the wisdom of those who have been safeguarding our planet for generations. #ClimateAction #IndigenousKnowledge #Sustainability #ESG #Canada