The latest edition of our Sustainable Views newsletter
Dear reader,
Today, Alex takes us through the reasons for the failed agreement on Article 6 carbon markets, which was up for discussion at COP28, but which remains in limbo.
Well-functioning carbon markets would help finance green activities, such as reforestation projects – as well as support the growth of the developing economies where those projects tend to be based.
Article 6 of the Paris Agreement considers their use to meet climate objectives. And the UN body aimed at overseeing its implementation recently came up with proposals on how to govern them.
But opposing views from EU and US negotiators resulted in a stalemate. Read Alex’s piece for the main points of contention, and for an indication of what might come next.
As always, we close the week with a summary of ESG news (outside COP). In addition to the provisional agreement on the highly controversial EU Corporate Sustainability Due Diligence Directive (see Philippa’s scoop yesterday, and her previous analysis of the regulation), a new climate lawsuit is of particular note.
A group of 18 children is suing the US Environmental Protection Agency, claiming it has intentionally allowed “life-threatening climate pollution to be emitted by the fossil fuel sources of greenhouse gases it regulates”.
Among this week’s other policy news is the UK’s voluntary code of conduct for ESG ratings and data providers, which has the backing of the Financial Conduct Authority. Head to our latest round-up for more.
Lastly, below you’ll find the most popular articles of the past few days, plus a suggestion from the team.
This is my last missive of the year as I start an early Christmas break on Monday. Philippa will be in the editor seat until the first few days of January.
Wishing all who celebrate a restful (and re-energising) festive season.
And should this time invite some thoughtful reflections, do share your musings with us. You can email us at sustainable.views@ft.com, or any of us individually.
Until the new year,
Silvia
Silvia Pavoni is the editor of Sustainable Views
This week’s top content
COP28 Round-up: World agrees on ‘transitioning away from fossil fuels’
Scoop – EU agrees on partial inclusion of financial sector in CSDDD
Not all business teaching on ESG is equal
COP28: Food is on the table, but only as a side dish