COP27: Exposing Greenwashing
“Net zero commitments can’t be a mere public relations exercise if we want to win the fight against climate change.”
In a statement, António Guterres, Secretary-General of the United Nations, addresses the report released at the COP27 climate summit in Egypt.
With the report, the United Nations’ high-level expert group on the net zero emissions commitments of non-state entities intends to fight against “greenwashing” and double down on companies making net-zero pledges.
The report aims to draw a line under misleading statements that can deceive investors, customers, and decision-makers. Additionally, it makes ten clear recommendations for how businesses and other “non-state players,” such as investors and cities, should proceed. For instance, a Business cannot declare that it is net zero if it continues funding or building new fossil fuel infrastructure or deforestation. Further, it states that fossil fuel expansion cannot be net zero aligned. The report also discredits the use of inexpensive carbon credits as a workable net-zero solution for offsetting ongoing emissions.
“Too many of these net-zero pledges are little more than empty slogans and hype”, group chair and Canada’s former environment minister, Catherine McKenna, said during a news conference launching the report.
“You need to walk the talk, you need to deliver on it.”
Businesses must consider their complete value chain, including their supply chain and the consumption of their products. All three of those procedures address typical flaws in current business net zero pledges.
People are familiar with the idea of firms “greenwashing” to appear more
environmentally friendly than they are. For example, Coca-Cola claimed that it is committed to reducing plastic waste. However, they went to court over its plastic waste claims, with the company being named one of the world’s largest plastic polluters.
Sustainability efforts made by businesses are only “goals”. But there is currently no plan for achieving these objectives. To raise their ESG scores rather than implementing any actual changes, these are fake, hollow promises. However, these issues are being acknowledged, not only by consumers but by world leaders. That is one of many topics that are currently discussed at COP27.
You can see that many of the businesses that signed the Climate100 pacts are not even on schedule to meet these long-term objectives. Perhaps they are utilizing the long-term to their advantage. As Catherine McKenna addressed in her speech, “focussing on 2050 allows delay, obfuscation and greenwashing.”
Now, let us look at the importance of combatting greenwashing through facts and figures:
- Pledges to achieve net-zero emissions currently cover an estimated 80% of world emissions.
- 42% of green claims in Europe were inflated, incorrect, or misleading.
- In their yearly report, Net Zero Tracker discovered that of the 702 organizations with a net-zero target, two-thirds have not specified how they intend to reach that objective.
- Only 20% fulfill the UN Race to Zero Campaign’s minimal standards for stability.
As addressed in our previous article, Green Certificates & Carbon Offset Credits, vague sustainability buzzwords make climate action promises more confusing to consumers. Purchasing certificates like “RECs” and “carbon offsets” can often make little to no difference in terms of combatting climate change. As we try to stay under 1.5C, we must take immediate and concrete action. Companies’ subpar efforts simply will not cut it. We must hold those accountable who engage in “greenwashing” and disregard the future of our world.
These are some of the topics under discussion at the COP27 climate conference. Considering the large impact corporations have on the environment, let us hope that more progressive reports like this
are released and see what the summit still has in store.
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