• FutureTrack

Last Week in Sustainability News - 13.04

This past week was filled with interesting sustainability and climate news, we've summarised the top stories below.

Sweden set to be first country to take responsibility for (and reduce) consumption-based emissions

  • National emissions targets focus on reporting emissions created within a country’s borders; however, in a world’s first, Sweden are now set to include consumption-based emissions within their reporting.

  • Consumption-based emissions are emissions created in other countries that result from making products that are then imported to the reporting country.

  • It has been estimated that 60% of Sweden’s total emissions are consumption-based, emphasising the fact that these type of emissions need to be reported and addressed more widely, both in Sweden and worldwide.

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IPCC report covers global warming mitigation

The UN's Intergovernmental Panel on Climate Change (IPCC) has released a report focusing on how to reduce further global warming. Here are a few key takeaways:

  • Fossil fuel usage, especially coal usage, has to end quickly. However, the report also points out that “opposition to climate action by carbon-connected industries is broad-based, highly organized, and matched with extensive lobbying”.

  • Worldwide, more money is still being invested into fossil fuels than into renewable energy.

  • Just by removing fossil fuel subsidies, emissions could be reduced by 10% by 2030.

  • Some level of carbon removal is needed but, as a climate change mitigation strategy, should not be an alternative to prompt emissions reductions.

  • The promised levels of climate financing for developing countries need to be met.

  • The top 10% of households produce up to 45% of worldwide consumption-based household GHG emissions, while the bottom 50% produce only 15%.

  • We can reduce demand for energy by changing how and what we eat, how we waste food, how we build our cities, and how we move around within them.

Pinterest Bans Climate Misinformation

  • Pinterest has become the first major digital platform to create clearly defined guidelines against climate misinformation and misleading or false climate change content.

  • While Pinterest is not known as a platform where climate change misinformation is rampant, the company has said that its goal is to be proactive; “we don’t wait until harmful content reaches a certain threshold before taking action”.

  • Pinterest has received praise for its new guidelines, and it is hoped that other platforms take note of its efforts to reduce disinformation.

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Science-Based Targets initiative announces plans for net-zero finance standard

  • The Science-Based Targets initiative (SBTi) has announced its plans to develop a net-zero standard for financial institutions, in an effort to “ensure that the growing momentum in the financial sector translates into science-based decarbonisation in the real economy”.

  • The net-zero standard is set to be launched in early 2023 and will contain detailed guidance for science-based targets and guidance for credible claims.

  • In the process of creating the new standard, the SBTi will be conducting research on definitions, climate solutions, carbon credits, fossil fuel financing, net-zero claims, and interim targets.

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