Paul Mougeolle on LinkedIn: Climate vigilance by French multinationals: Notre Affaire à Tous once… (2024)

📢 Elena EngelsandTheresa Schumacher, LL.M.'s new article on Corporate Sustainability Due Diligence Directive (CSDDD) sheds light on controversial topics during the EU legislative process such as the obligation of preparing transition plan, level of public enforcement and managers liability. Here are key points from the article👇✅ First draft of CSDDD contains an obligation for companies to prepare a transitional plan for aligning their targets with limiting the global warming within 1.5 degree✅ EU Parliament adopted an amended draft that refines this obligation and contains these details; 🎯The resillience of business model and strategy of companies to the climate risks 🎯Companies' business model and strategy related to the affected communities 🎯The role of management in terms of preparing emission reduction plans and directing the financial resources to the investment. https://lnkd.in/dSdc-ei2

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The US SEC’s proposed climate disclosure rule is expected to be put to vote next month, as per various news sources such as Reuters. Facing pressure from various corporates and industry bodies, the latest draft of the rules are a scaled down version of the original. In particular, requirements around Scope 3 emissions are predicted to be dropped due to its complexity.This is slightly disappointing from a sustainability point of view, but hopefully this will help push the climate disclosure rules to be passed and adopted as soon as possible. If it is adopted, then the interoperability with other standards such as the ESRS and California’s climate disclosure rules will need to be assessed, particularly for companies that would need to report using multiple standards.All eyes will be on the SEC if the vote happens next month.

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2024 will be a pivotal year for climate reporting.Almost every sustainability report you find on the internet right now was produced by companies on a completely voluntary basis–And that's about to change.The combination of EU, California, and international regulations will make the publication of climate disclosures mandatory in many countries in the world. Terra.do's Corporate Climate Reporting Standards and Regulations course will delve into the main reporting frameworks that companies use and the regulations that require companies to publish disclosures using those frameworks.Learn more about the course, starting on March 4th, here: http://mvnt.us/m2162602

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Be careful what you sign up for...Excellent piece - the devil is in the detail. So many sides to one story. #carbonmarkets #netzerotransition #emissionsreduction #transparency #climatejustice #sbti "SBTi’s process also leaves at least two glaring gaps. To limit warming to 1.5 ºC, every company around the world will need to cut emissions at similar annual levels. But so far, companies with approved targets and commitments to develop them account for only 3 billion tons of carbon dioxide (or other greenhouse gases with equivalent warming effects). Meanwhile, the world produces around 41 billion tons per year from energy use alone. Notably, the group also doesn’t currently approve targets for companies in the fossil-fuel sector, the source of the overwhelming majority of human-caused emissions. Even substantial emissions reductions across other sectors can only do so much to ease climate change without radical changes in the way oil and gas companies operate."

#TRILOGUE negotiations are gearing up ahead of a new round of talks on the CSDDD next week. In the political debate, climate comes as one issue that is key to aligning the legislation with international standards and ensuring real-world improvements for people and the planet.The #CSDDD can be a game-changer if addresses corporate climate impact gaps. How?✔ By requiring companies to assess climate risks.✔ By requiring companies to adopt and implement robust climate prevention and mitigation strategies.The forthcoming Corporate Sustainability #DueDiligence Directive can bring the much-needed shift in business conduct. But would the companies be obliged to meet emissions reduction targets?Let’s dive into the climate scope of the CSDDD 👇 https://lnkd.in/es5_JbZv

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California is set to pass two new climate disclosure bills (these currently sit with Governor Newsom who has said he plans to sign them). These bills will mandate sustainability-related disclosures, including GHG emissions and climate-related financial risks. Why is this important?1.It highlights a continued trend where regulators are taking more proactive measures to shift towards a clean energy future (California could be the first of many states to adopt similar sustainability-related disclosure requirements).2.The proposed regulation extends beyond the SEC’s proposed climate disclosure rule to include any company based in the US with over $1B in revenue (for bill SB-253) that does business in California, scope 3 emissions would be required not optional, and the bills are based on broader regulatory authority (specifically California’s Global Warming Solutions Act of 2006 which sets an absolute statewide limit on greenhouse gas emissions).3.If California was a country, it would be the fifth largest economy in the world – it is estimated that 5,000+ companies may be in scope of this new regulation. For more information see below:

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In 2024, if a major company can't deliver a plan to decarbonise at the pace that climate science and climate justice demand, then it doesn't have a viable business model and its existence is not compatible with human health and survival.And, a net zero pledge, or public claim to support the Paris agreement that is not backed up by a comprehensive plan to achieve this goal could be misleading consumers and investors and exposes a company to legal risk.The latest Corporate Climate Responsibility Monitor from NewClimate Institute assessed 51 global companies and found that only 4 have emissions reduction plans that align with their climate pledge. This mirrors the findings in Climate Integrity's recent assessment of 10 leading Australian companies. *None* of which had a comprehensive, independently verified and fully costed plan for reducing their emissions in line with the science.https://lnkd.in/eJSbppNs

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The government's proposed climate reporting laws mark a significant step toward a swifter, more effective transition to net zero emissions.This is an area CPD has been heavily involved in since 2016, when we commissioned the first Hutley Opinion on director duties and climate change, and we welcome the move to implement more credible and stringent emissions reporting.Not only will this provide more transparency and accountability on climate impacts, in line with international best practice, it will also reinforce the dire need for stronger climate action in Australia.https://lnkd.in/gaVsjkgx

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"#none of the companies analysed is able to demonstrate compliance with our climate vigilance criteria, which assess the #transparency of companies and the #credibility of their alignment with the #ParisAgreement"None. Zero. 0. Yeshttps://lnkd.in/eAKt8bdy #dutyofcare #duediligence #BizHumanRights #HumanRights #BizHR #climate #climatevigilance #greenwashing #netzerowashing #esgwashing un-#sustainablebiz ir-#responsiblebiz un-#ethicalbiz #litigation #climatelaw #climatelitigation #climatelawsuit #ClimateEmergency #FACEtheClimateEmergency

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Down to factsAs the world gathers at #COP28 to discussion climate change mitigation, adaptation, and financing of climate solutions, a key challenge for policymakers is knowing how to trust claims in relation to greenhouse gas statements, environmental technologies, and environmental investments. Users of environmental information want to know whether such information is accurate and reliable. ISO’s suite of standards for conformity assessment and for verification and validation provide requirements for validation and verification bodies so you can trust both the checkers of environmental information and the reports they produce. Contact your National Standards Body or our Secretariat Standards Council of Canada (SCC) to learn more about why you can #TrustStandards to ensure #climateaction is real.

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