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Recently ,the UN Secretary General warned companies and other non-state entities pursuing net-zero goals to not indulge in “greenwashing”
About Greenwashing
- Greenwashing presents a false picture of the progress being made on the climate change front, thereby pushing the world towards disaster, while at the same time rewarding entities for irresponsible behaviour.
- Issues: There is a growing tendency among firms and governments to mark all kinds of activities as climate-friendly, as something that would lead to emissions reduction, or avoidance of emissions.
- Many of these claims are unverifiable, misleading, or dubious.
- Developed countries, for example, are often accused of greenwashing their normal business investments in developing countries, or their bilateral aid, by highlighting climate co-benefits of the financial flows, sometimes with very little justification.
- Recommendations : An expert group formed by the UN Secretary General last year to suggest remedial actions on this front submitted its report.
- It recommended that corporations pursuing net zero targets must not be allowed to make fresh investments in fossil fuels, must be asked to present short-term emission reduction goals on the path to achieving net zero, and must bring an end to all activities that lead to deforestation.
- In addition, the corporations have been advised not to use offset mechanisms at the start of their journey to net-zero status.
- The expert group has also recommended the creation of regulatory structures and standards as soon as possible
Source:IE
