Opinion piece from UK Politics and Policy Practice Lead Alex Dawson.
Marissa Lee, a senior associate at consultancy Global Counsel, which advises firms on climate and sustainability policy, said doing so forces organisations and consumers to consider the cost of pollution and environmental harm in their decision-making.
Global Counsel's Ms Lee said the Article 6 rules clearly demonstrate that parties to the Paris Agreement are concerned about how to avoid double-counting emissions reductions. "This sets an expectation for standard-setting bodies to clarify which credits have been issued with a corresponding adjustment and which have not in the voluntary carbon markets," she added.
"Investors may be more willing to invest in start-ups if they believe they have a chance to challenge tech giants and become key players. But, they might also be reluctant to do so if acquisition by a large player – a common exit route – becomes impossible."
Denzil Davidson, EU Institutions Adviser, has appeared on the France-UK channel disputes in FRANCE 24, discussing the migrant crisis and fishing rights, and the political causes and implications of these.
Ms Elizabeth Beall, climate and sustainability practice lead at advisory firm Global Counsel, said that prior to the COP26 outcome, there had been no clarity on the rules around carbon trading to meet countries' commitments.
"That meant that countries - and the business and investors operating within their jurisdictions - haven't had enough certainty to start fully investing in this area," she said.
"The silence on a strengthened accountability regime is likely to be seen by industry as an omission," said Rebecca Park, senior practice lead for financial services at the consultancy Global Counsel. "With limited appetite from firms to bring forward judicial review, this remains an issue that still needs to be addressed."
Global Counsel senior practice lead Joe Palombo, and senior associate, global investor services Felix Cazalet, assess the main drivers of the UK’s supply shortage and the future of the UK labour market.
Felicity Hall, senior associate at Global Counsel, a strategic advisory business, explains: “The whole point of the ISSB is to act as a unifying body, bringing together best practice from the various ESG standard-setters and frameworks already in existence. In terms of driving consensus on what is currently an extremely fragmented issue, the work of the ISSB is likely to be crucial. With the right level of ambition, and appropriate consideration of the expertise we have already developed, the ISSB could finally answer a long overdue call from both corporates and investors for harmony in ESG reporting.”
Opinion piece from UK Politics and Policy Practice Lead Alex Dawson