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WTO Director-General calls for a global carbon tax and trade reform to meet decarbonization goals
The Director-General of the World Trade Organization, Ngozi Okonjo-Iweala, emphasized at the World Economic Forum that the process of decarbonizing global trade and supply chains must be inclusive and not leave behind the countries in the Global South. According to a recent news article from Eco-Business, the Director-General of the World Trade Organization (WTO) has…
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What is carbon neutrality?
Carbon neutrality, although often used interchangeably with “net zero,” refers to achieving a balance between CO2 emitted and CO2 absorbed from the atmosphere and includes a very different methodology than to achieve “net zero.” It counterbalances your company’s carbon dioxide emissions by neutralizing the same amount of carbon or greenhouse gasses. In very simple words,…
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Carbon Conundrum Solved: The Ins and Outs of Reducing Emissions through Carbon Credits
Climate change is one of the most pressing issues facing our planet, with the potential to cause severe consequences on ecosystems, economies, and communities. To prevent these impacts and meet the crucial goal set by the Paris Agreement of limiting temperature rise to 1.5°C, it is essential that global net-zero carbon emissions be achieved by…
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Green hydrogen to fuel sustainable aviation, steelmaking, and shipping: Masdar and Dutch partners announce partnership
Masdar, a UAE-based renewable energy developer, announced that it had signed an agreement with Dutch companies, including Port of Amsterdam, SkyNRG, Evos Amsterdam, and Zenith Energy, to explore the development of a green hydrogen supply chain from Abu Dhabi to Amsterdam. According to ESG Today’s news, the partners will focus on producing green hydrogen in…
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What are carbon credits? Voluntary vs Mandatory
The term carbon credit refers to the value assigned to the reduction, avoidance, or capture of greenhouse gas (GHG) emissions achieved through a certified project. Carbon credits are tradable units, and one carbon credit is equivalent to one metric ton of carbon dioxide equivalent (CO2e). Carbon credits are a way to incentivize businesses and individuals…
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From trend to necessity: The evolution of sustainability in business
When it comes to discussing sustainability and the efforts to combat climate change, it’s important to use the correct terminology. Words like “net zero,” “carbon neutrality,” and “climate positive” may seem interchangeable, but they actually refer to different things, and it’s important to use the correct terms in order to ensure transparency and integrity. One…
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Climate Action Pays Off: Sustainable Projects Attract More Investment Than Fossil Fuels
Climate-friendly projects, for the first time, raised a greater amount of money in the debt market than fossil-fuel companies. But there is a downside. Bloomberg data shows that in 2022 approximately $580 billion was arranged for renewable energy and other environmentally responsible ventures. On the other hand, the oil, gas, and coal industries turned to…
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What is net zero?
The goal of net zero is to achieve a balance between the amount of carbon emitted and the amount of carbon removed from the atmosphere so that the entity has a net zero impact on the environment. In order to become a net zero establishment, companies must significantly reduce their greenhouse gas emissions and compensate…