Alastair McNair Scott

Landfilling waste = bad, Energy from waste (EfW) = good? It's not so simple due to emissions from EfW. However, there is a potential solution for these emissions. ERM has published a report analyzing the opportunities for Carbon Capture and Storage (CCS) in the UK’s EfW sector, including an assessment of how CCS on EfW aligns with the UK’s net zero strategy and targets. https://lnkd.in/esuNJfsr

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ICYMI - Here is the latest edition of #ESG and #Climate News After just one year in operation, the ISSB standards are beginning to live up to their reason for being created, with over 20 jurisdictions representing more than 50% of global GDP and emissions announcing they will be using them. The ISSB is also making its standards interoperable with every other major reporting standard, ensuring that the reporting landscape will be less fragmented and complex. But there is still a divide in whether companies will report their impacts on others (Europe) or just themselves (ISSB). Plus, The Biden administration released new guidelines for making ‘high integrity’ carbon offsets, hoping that they will restore confidence in the beleaguered voluntary carbon market. The EU finalizes the four new sustainability policies ahead of elections that may lead to a less-green government. In a stunning 180-degree turn from just three years ago, Exxon and Shell prevailed over ESG activists, setting a precedent that could chill shareholder activism more broadly. Microsoft’s ambitious AI adoption has increased emissions, and the company now wants its suppliers to do more. #VCM #CS3D #activistshareholders #ISSB #GRI #sustaianabilityreporting #ESRS https://lnkd.in/eC85Z8ZK

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We're running a brilliant webinar unpacking the #SDR next week, giving both insights and some practical lessons learnt with it. Do join us and learn more!

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ESG Ratings Providers Government response to ESG ratings providers condoc published. Only a handful of responses from civil society. Here is FIC's: https://lnkd.in/e76YMTmV. Good to see commitment to regulate. But several problems. 'The overall process of....commencing the ESG ratings regulatory regime is expected to take approximately four years'. Four years! In meantime, we have FCA's voluntary code developed by a group dominated by finance representatives. Gov not regulating ESG data nor it seems the models that determine ratings. V risky. We could be in a position where ESG ratings providers comply with new reg standards but the 'products' are still v misleading. The idea that 'competition' will drive up the quality of models and data is rather hopeful. Do policymakers really think that insurers,banks,asset managers will choose the most robust ratings models or that pension trustees/retail investors will have enough nous to ensure most robust models are used? To hold finance to account for harming people and planet, we need reliable foundational data eg. emissions data to allow independent analysts to build up composite models which provide an objective assessment of the degree of climate harm contained within financial portfolios. Ratings should be built on robust definitions and hard data, not 'qualitative' assessments of the 'intentions' of financial institutions or transition plans. Narrative based approaches allow for obfuscation. See: https://lnkd.in/erxdR6rs UK is bascially adopting IOSCO approach to assessment which is far too subjective, narrative and qualitative based. So, unless civil society can find a way to create truly objective ratings based on, say, emissions data this new regime is unlikely to do much to hold the City to account for enabling climate harm.  The S part of ESG has its own issues. The current approach promoted by advocates of 'Impact finance' sets a v low bar. See: https://lnkd.in/dHsh6Am2 And Gov response has obligatory 'Growth is the number one mission of this government' statement. There are 2 ways to be competitive and promote growth - i. robust regulation to ensure quality and trust; or ii. weak regulation to attract business (regulatory arbitrage) and reduce costs in short term. Which path will Gov and FCA (under real pressure to promote the City) choose? #ESG #financialregulation #greenwashing #impactwashing https://lnkd.in/erYrPUXa

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This is a fantastic development for companies looking to enhance their environmental reporting! The collaboration between GRI and TNFD will provide much-needed guidance for organizations to better understand and communicate their nature-related impacts. I'm eager to see how this will encourage more businesses to adopt sustainable practices and prioritize biodiversity in their operations. #ESG #Sustainability #CorporateReporting

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The International Financial Reporting Standards (IFRS) Foundation's adoption of the Transition Plan Taskforce (TPT) guidelines marks a key step towards harmonised and credible climate-related disclosures. As we anticipate the UK Sustainability Disclosure Standards (UK SDS) in early 2025, businesses must align their strategies with these evolving standards to demonstrate leadership in the global decarbonisation effort. To read how these developments impact corporate climate reporting, follow the link to our latest insight by Simply Sustainable Consultant, Harry Freeman: https://lnkd.in/eTgbm-VV #IFRS #CSRD #SDS #decarbonisation #climaterelateddisclosures

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Struggling to get to grips with the European Sustainability Reporting Standards (ESRS)? We set out within this publication, some of the latest insights on the practcial application of ESRS, to help organisations get moving on their CSRD journey. Read more here: https://lnkd.in/gZkRGhf3

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The IPSASB Sustainability Reporting Standards (SRS) Exposure Draft 1 on Climate-Related Disclosures aims to enhance transparency on climate-related risks, opportunities, and policy program impacts within public sector entities. Recognizing climate change as a global challenge requiring substantial public sector response, this draft establishes disclosure requirements to support informed decision-making and accountability in the sector. Key Aspects of SRS Exposure Draft 1: 1. Scope and Purpose: • Focuses on the climate-related risks and opportunities impacting public sector operations. • Mandates disclosures on climate-related public policies and program outcomes, making these insights accessible to stakeholders. 2. Alignment with International Standards: • Builds upon global best practices, ensuring compatibility with established international sustainability standards. • Tailored to meet unique public sector requirements, addressing specific informational needs for comparability and reliability in public sector reports. 3. Entities Covered: • Applies to public sector organizations primarily engaged in public service delivery, funded through public means like taxes, government transfers, or social contributions, and without profit as a core objective. • Includes national, regional, and local governments, various governmental departments and agencies, public social security funds, and international government organizations. 4. Public Feedback Opportunity: • Open for public comment until February 28, 2025. • Feedback will inform the final standard, assisting public sectors globally in addressing climate impacts effectively. The IPSASB’s initiative strengthens the role of standardized reporting in fostering climate accountability, facilitating access to necessary funding, and promoting sustainable public sector governance. For further details, the full draft can be accessed on the IPSASB’s official website.

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Climate disclosures This is worrying. Policymakers have wasted so much time with initiatives based on narrative reporting, risk disclosures, sustainability labels etc. Ratings providers have proliferated. Policymakers should have focused on getting foundational data right, and mandating common standards for ratings. #climatefinance #esg Calstrs pension plans cites errors in emissions data - https://on.ft.com/3w27H1X via @FT

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Worried about a hurricane or other weather events impacting your business? Join us for Monday's webinar 12pm discussing Climate Change Risk Assessments and Adaptation Plans, which are now a requirement under the EU's CSRD and EU Taxonomy reporting frameworks. Register here: https://lnkd.in/ePgU9xMv

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🟢 Amidst the budget announcements, further details of the UK Carbon Border Adjustment Mechanism (CBAM) have been confirmed! 🟢 Via a response to the recent consultation, the UK Government has confirmed details of the UK CBAM to be introduced on 1 January 2027. You can read it here: https://lnkd.in/ezMTzR-5 This carbon tariff-like regime will cover aluminium, cement, fertiliser, hydrogen and iron & steel sectors - but unlike prior proposals will not initially cover products from the glass and ceramics sectors. Unlike the EU approach to CBAM de minimis, the registration threshold will be set at £50,000. The UK government says this will retain over 99% of imported emissions within the scope of the CBAM, while removing over 80% of otherwise registrable businesses. Anyone else reading the proposals and noticing anything of interest (or have particular thoughts) - do post in the comments! #carbon #cbam #ets Mark Feldman Richard J. Albert Alenka Turnsek George Riddell Joost Vreeswijk George Davidson Josh Loftus Douglas Johnston Kasia Klaczynska Lewis Danny An Khoi Vu

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Good news for anyone who was worried that the creation of UK Sustainability Reporting Standards (drawing from IFRS S1 and S2) would further muddy the waters and create yet another competing disclosure standard. The proposed amendments to the IFRS Standards are *extremely minor* (see page 66, here: https://lnkd.in/ee4ex-AH) and are mainly aimed at allowing more flexibility for reporting companies.

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Our latest video in the 4-part series is here! Today, we're exploring the draft version of the sustainability reporting standard for Listed SMEs. Join us as we unpack its scope, timeline, and differences from the 'large ESRS.' Stay tuned for insightful discussions! #esg #esrs #csrd #sustainabilityreporting #sustainability #reporting

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🔖 🎄 The recommendations for UK Sustainability Reporting Standards (SRS) will provide some Christmas reading for the Government. While the earliest reporting obligations will not take effect until accounting periods beginning on or after 1 January 2026, the standards will require a evolution of mindset and process for many businesses. Specifically; how identified sustainability-related risks and opportunities are embedded into the financial management & planning of the business. The piece below provides a quick overview of the state of play on the SRS and the steps to take to get prepared.

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In this week’s 🟢 #ESG and #Climate News, which you can read here: https://lnkd.in/e7aQFBqN And subscribe here: https://lnkd.in/e_3CYd_H - The Biden administration has accelerated the release of new climate policies in recent months, but most voters have failed to notice any progress. - The 11th month of heat records in a row brings floods and extreme heat. - New research reveals that emissions from electricity generation likely peaked in 2023. - The UK High Court found the UK’s climate action plans are unlawful. - Vermont becomes the first state to approve a ‘climate superfund’ and will make high emitters pay for climate disasters.

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The UK Government has announced the new Sustainability Disclosure Requirements (UK SDR), which will mandate detailed corporate disclosures on sustainability-related risks and opportunities, surpassing the current FSB Task Force on Climate-related Financial Disclosures (TCFD) obligations. These standards will be based on IFRS S1 (overall sustainability-related financial information) and IFRS S2 (climate-related disclosures) from International Sustainability Standards Board (ISSB). The Financial Conduct Authority (FCA) will oversee UK SDR, applicable to LLPs and UK-listed companies currently under TCFD-aligned disclosure requirements.   Consultations on the draft standards are expected in Q1 2025, with the UK Government considering exemptions from pre-existing requirements by Q2 2025. The UK SDR will come into effect no earlier than January 2026.   We are already well-versed with the ISSB taxonomy and XBRL digital format requirements. Contact us for assistance or collaboration opportunities if you need help integrating our applications, or want to use our platform or APIs. https://lnkd.in/gewtBDS7   #Sustainability #UKSDR #TCFD #IFRS #XBRL #CorporateReporting #ESG #UKGOV

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