EcoCREDIT Weekly Sustainability Wrap Up — April 15 ‘22
Between onboarding new team members, finalizing new partnerships, and hitting back-to-back development milestones, it can be hard to keep track! You’re already familiar with the blockbuster developments if you’ve been keeping up with the EcoCREDIT YouTube channel. However, we want to give the community additional context regarding why what we’re building at EcoCREDIT is so important.
The various industries that comprise sustainability continue to grow by leaps and bounds with each passing week. It’s no wonder that the voluntary carbon credit market is poised to double in 2022 and continue this trajectory for the remainder of the decade! We’re not alone in the fight against climate change, and businesses, investment firms, and other entities have begun to take a firmer stance on climate action.
ESG Investment Accord
It’s not just global governments that maintain growing demands for climate transparency on the part of corporations. A collection of EU investment firms with a combined $140 trillion (yes, with a “T”) have come together for stricter corporate sustainability reporting standards. The Responsible Investment and European Sustainable Investment Forum (doesn’t exactly roll off the tongue) seek to provide investors with the tools they need to make informed investment decisions regarding their potential investment target’s climate impact.
This move represents a significant push towards clearer corporate reporting standards for sustainability. Across the pond in the United States, ESG reporting standards for major banks continue to gain support, highlighting the growing global consciousness towards businesses’ role in how we collectively deal with climate change. While not a silver bullet, every step in the right direction starts with transparency. After all, we can’t track what we don’t measure!
Dirty Past, Promising Future!
Discerning which nation, region, or entities bear the most responsible for the climate calamity we all collectively face has become commonplace. While quantifying emissions remains a crucial step in mitigating climate change, it sometimes comes with a bit of finger-pointing. China emits the greatest tonnage of carbon while the United States (perhaps unsurprisingly) emits the most per capita of any major nation. Each country, society, region, and community have some form of climate impact, so while quantifying carbon footprints is a must, we’re all fighting toward the same goal of reducing emissions and curving our carbon addition.
A recent study demonstrated that high-income nations are responsible for 74% of excess resource consumption. Hard data like this helps add some hard data to the otherwise uncertain emissions landscape. The study evaluates the period from 1970 to today and suggests that the overall proportional share of excess resource consumption has recently declined in high-income nations. This shift offers some promising insight. The good news is that economic growth has significantly compounded in the last fifty years. Alternative industrialization processes now present emerging markets with the opportunity to industrialize without egregious overconsumption of resources. We can now go farther, faster, and with less resource consumption!
Rocketing Towards Electric Vehicles
The UK recently announced a bold statement aiming to achieve a net-zero vehicle emissions target by 2024. While the fine details of the proposal remain unclear, the move echoes similar climate pledges by global governments. The United States recently increased gasoline-ethanol tolerance by half, allowing a 15% tolerance at the pump compared to the previous 10% threshold. Automotive industry participants worldwide continue to feel the push towards a more sustainable future. Taken in tandem with the recent doubling of electric vehicle sales, we see a clear trend towards more carbon-neutral roadways everywhere.
Wrap Ups’ Wrap Up
It was yet another blockbuster week for sustainability! The global trend remains incredibly clear. Sustainability initiatives continue to grow by leaps and bound each passing week, and the growing consensus around taking climate action continues to form. We’re on the precipice of an amazing climate revolution and set up for one of the biggest battles of our era! We’re collectively stepping into an incredibly important role by taking climate change and our role as stewards of the planet’s ecology and the environment far more seriously.
Make sure to keep an eye out for continued updates regarding EcoCREDIT and the state of sustainability in general! There’s much to be done and much that we’re already doing — the future is bright!