Financed emissions and carbon accounting
This article from Bloomberg, written on 24 July 2024, addresses a frequent critique of carbon accounting: Scope 3 emissions, those that arise from a company’s customers and supply chains, are essentially double-counted.
This article covers:
- Where and why duplication of emissions are calculated in the financial industry and how this can equate to greenwashing.
- Insights and hypotheticals from Richard Manley, chief sustainability officer at CPP Investments, the $632 billion investment arm of the Canada Pension Plan.
- The shift in world view from 'reducing financed emissions' to 'financing reduced emissions'.
Read the article here
Bloomberg article on Finance EmissionsRelated Content
Audit Committee Dialogue: Integrating nature-related financial disclosures
In partnership with Accounting for Sustainability (A4S), Chapter Zero recently held the third session of its series of roundtables for Audit Committee chairs and members to explore the emerging requirements for audit committees in effectively driving action on climate and nature from the boardroom.
IASB proposes illustrative examples to improve reporting of climate-related and other uncertainties in financial statements
This 2024 article from the International Accounting Standards Board, written 31 July 2024, proposes examples of improved reporting of climate-related and other uncertainties in financial statements.
