Markets working to support sustainable development

In the News: 26th January 2015

26 Jan 2015

Here you will find a round-up of all the latest news and events in mechanisms from around the world. 

Reporting and regulations

  • New guidance has been published by the World Resources Institute on Greenhouse Gas Emission (GHG) reporting for purchases of electricity. As reported by Environmental Leader, the new guidance provides companies with a transparent way to report on how purchased electricity contributes to their GHG targets and benchmark their operations against competitors.
  • 657 companies were expelled from the UN Global Compact in 2014 primarily due to their failure to publicly disclose their progress on the 10 key principles included in the Compact for two years running. The principles operate across the 4 key areas of ‘human rights’, ‘labour’, ‘environment’, and ‘anti-corruption’.  Despite these expulsions, the number of companies signing up to the Compact grew with 729 companies joining from July to December 2014 alone.
  • The US Environmental Protection Agency has delayed release of its rules for new power plants until mid-summer when it will also provide regulatory guidance for existing power plants. Speaking to the Hill, Janet McCabe, the EPA’s acting administrator for air quality has announced that it will provide more time to consider coordination of regulation and the new sources of power being utilised.

 

UNFCCC Climate Negotiations Lima. Source: Wikipedia

Carbon pricing

  • In the second year of the Australia carbon pricing scheme emissions dropped by 1.4%, as reported by the Guardian. As figures from the Department of the Environment show, this follows on from a 0.8% drop in the scheme’s first year. Despite these positive results, the Abbott Government carried through with its 2013 election pledge to repeal carbon pricing in Australia, abolishing the price for the financial year beginning July 2014.
  • Canadian Prime Minister Stephen Harper meanwhile has expressed support for the Alberta carbon price, suggesting that it could serve as a model for a nationwide scheme.
  • Meanwhile, Alice Bell on the ‘Road to Paris’ blog has encapsulated the momentum behind carbon pricing worldwide, and looked at the emerging models to address what has been categorised as one of the most devastating ‘market failures’ represented by escalating carbon emissions.

 

Palm oil plantation in Malaysia. Source: Wikipedia

Forestry

  • The Sustainable Forestry Initiative, which works with stakeholders, local communities and conservation groups to promote sustainable forest management, has announced new rules and standards for the 2015-2019 period, in a new move to foster better practice across forestry supply chains. , Part of the new standard will aim to cover 90% of the world’s forests that are not yet certified, using a 37 performance measure and more than 100 indicators covering vital factors including biodiversity, water supply, and promote conservation.
  • As reported on this site, at the recent UNFCCC climate negotiations in Lima, the REDD forestry programme announced the implementation of a consultation process to garner stakeholder opinion regarding the REDD 2016-2020 strategy. At an event to discuss the future of REDD, Helen Clark the UNDP Administrator drew optimism from the strengthened collaboration between UNDP, UNEP and the FAO in implementing the REDD programme.

Palm oil

  • One of the world’s largest traders in palm oil, Wilmar International, has announced that it has set up a website which provides both full disclosure of its supply chain and a mechanism for third parties to report any violations to the pledges made by Wilmar to end trading with suppliers who use exploitative labour practice or cut down protected forests. One such third party, the Forest Trust, has partnered with Wilmar to help them fulfil their promise and roll out the web tool.
  • Meanwhile, Sainsbury’s has announced that 95% of the palm oil used in their own-brand products has been certified as sustainable, using traceable palm oil that comes from ‘segregated’ or ‘mass balance’ supply chains. Read more about sustainable palm oil standards here on the Shaping Sustainable Markets database of mechanisms.