Thomas Day

Climate policy, carbon market mechanisms and corporate climate responsibility @newclimateinst | Own views

[NewClimate Institute @newclimate.bsky.social @newclimateinst]

Read @SilkeMooldijk's commentary piece in @ClimateHome on the threat to companies' emissions reduction goals from the SBTi's board proposal to allow offsetting for scope 3, which would weaken already lax rules ⤵️

[Thomas Day @ThomasDay_]

What we need is reliable governance and science-aligned development of standards. I applaud the SBTi staff for their commitment to integrity, and their pushback on the Board’s actions. https://t.co/lc2bW1lg9E

[Thomas Day @ThomasDay_]

The SBTi Board’s statement looks like an illegitimate takeover. We understanding that the SBTi Board of Trustees have taken a unilateral decision with no scientific basis, and no backing from SBTi's own technical council and standards development team.

[Thomas Day @ThomasDay_]

The offsetting mechanism being forced on SBTi would completely nullify the already insufficient scope 3 commitments of most companies, reversing years of incremental progress that SBTi and its member companies have fought so hard to achieve.

[NewClimate Institute @newclimate.bsky.social @newclimateinst]

…And 2⃣ proposed flexibility through #offsetting could lead to backsliding and could nullify the already insufficient targets.

All details and individual company assessments are here 🔗 https://t.co/WjLRsVtIT8

[NewClimate Institute @newclimate.bsky.social @newclimateinst]

OUT NOW 🔥 In our latest report w/ @CarbonMrktWatch, we assess climate targets of 51 major multinational companies, incl. 20 new, detailed case studies + 31 updates from previous CCRMs. Together these 51 companies account for ~15% of global emissions. 🧵
🔗https://t.co/WjLRsVtIT8

[NewClimate Institute @newclimate.bsky.social @newclimateinst]

We appreciate support in bringing this matter to #Microsoft's attention for resolution.

Our full statement is here 🔗 https://t.co/jAgGrJ6lT6

@MicrosoftHelps @MSFT365Status @Azure @Microsoft

[NewClimate Institute @newclimate.bsky.social @newclimateinst]

It remains unclear if disruption is due to attack on Microsoft's infrastructure or an error. We have confirmed that we are not blacklisted & our website is malware free. We urgently need Microsoft to resolve this, as it could have significant implications in the lead-up to #COP28

[NewClimate Institute @newclimate.bsky.social @newclimateinst]

. @Microsoft email servers quarantine emails containing the NewClimate URL since Oct 17, causing widespread disruptions in the climate community's email communication. E.g. sharing the @IPCC_CH AR6 WG3 as attachment is currently not possible
https://t.co/jAgGrJ6lT6

[Changing Markets Foundation @ChangingMarkets]

Hey @sciencetargets - we together with 20 other NGOs - asked you for more profound reform, as suggested by the High Level Expert group report Integrity Matters that was flagged by @antonioguterres as the new standard:
https://t.co/Lj0rBVGZz2
🧵

[Thomas Day @ThomasDay_]

Is the tech industry really #carbonneutral? @Apple @Microsoft and @Google are taking some positive steps but also in a race to the bottom to exaggerate their progress https://t.co/WIQgGdyOMm

[Thomas Day @ThomasDay_]

Congratulations @ChangingMarkets on this excellent analysis. Accounting approaches like insetting that distract from the grave lack of progress on methane emissions are highly unconstructive. Such approaches will delay climate action across the sector.

[Changing Markets Foundation @ChangingMarkets]

On the eve of @Nestle ’s #AGM, we, together with @StandMighty @CClaimsWatch, delivered a message the company can no longer ignore. It must #CutMethane and ramp up the ambition of its #climate target. #NestLies

[Carsten Warnecke @CaWarnecke]

Companies' first line of defense is to claim that they have already applied the most stringent standards. There is obviously an urgent need to commonly define these strictest standards! #CorporateResponsibility #ClimateAction #NetZero #CCRM2023 #ClimateNeutrality

[Thomas Day @ThomasDay_]

What do companies’ net zero targets mean? Apparently anything between 1% & 95% emission reductions! Or even - no clear commitment to anything at all - for half of the companies assessed. Is ‘Net Zero’ really the most appropriate terminology for corporate climate action?

[NewClimate Institute @newclimate.bsky.social @newclimateinst]

4/ Climate pledges of the 24 corporations collectively commit to reduce those companies’ emissions by just 36%, in stark contrast to what their #NetZero and #ClimateNeutrality pledges imply. Just 5 companies commit to deep decarbonisation. ⬇️

[NewClimate Institute @newclimate.bsky.social @newclimateinst]

4/ Climate pledges of the 24 corporations collectively commit to reduce those companies’ emissions by just 36%, in stark contrast to what their #NetZero and #ClimateNeutrality pledges imply. Just 5 companies commit to deep decarbonisation. ⬇️

[Thomas Day @ThomasDay_]

Regulators cannot simply shift the burden to voluntary initiatives to drive meaningful corporate climate action. Ambiguous net zero targets distract from the key issue that the short-term plans of many self-proclaimed climate leaders are misleading and woefully insufficient

[NewClimate Institute @newclimate.bsky.social @newclimateinst]

Climate pledges of major companies are misleading & go less than halfway of what is required by 2030. Our 2023 Corporate Climate Responsibility Monitor published today w/ @CarbonMrktWatch shows: companies’ #ClimateAction remains insufficient + ambiguous.🧵https://t.co/cfWrOzSrDJ

[NewClimate Institute @newclimate.bsky.social @newclimateinst]

The @isostandards #NetZero guidelines send an important signal for credible deep decarbonisation plans 👍 but ⚠️ some contradictions create potential issues for the use of offsets 🧵⤵️

[NewClimate Institute @newclimate.bsky.social @newclimateinst]

1/ The @UN #HLEGreport recommendations on corporate #NetZero are not sufficient to draw a red line around corporate greenwashing.🚩 Urgent need for regulatory intervention to turn the tide on misleading corporate climate pledges.
https://t.co/6lihJLnhxP

[NewClimate Institute @newclimate.bsky.social @newclimateinst]

BLOG: Various voluntary initiatives plan to launch new guidelines on corporate #NetZero targets at #COP27, but there is urgent need for regulatory intervention to turn the tide on misleading corporate climate pledges.
https://t.co/6lihJL5GGh

[NewClimate Institute @newclimate.bsky.social @newclimateinst]

Major Dutch companies’ climate pledges fall short. 🚨 Our new analysis shows the assessed companies only commit to reduce emissions by 19% by 2030 on average and not by half as required according to @IPCC_CH. 🧵⤵️https://t.co/LIBwTm6NMo