“Raising the level of climate ambition” - this is the first goal of the proposed changes to Climate Active. It speaks to the hesitation and lethargy of corporate leaders in their sustainability journey - and to the strengthening of evidentiary burdens for voluntary disclosure. As we welcome a new era of mandatory climate reporting starting from next year, the trusted badges to certify climate action have also come to a point of reckoning.
Over the past year the government has raised Australia’s climate ambition. It has worked methodically to modernise and reform national climate policy to enable programs to respond to the scale of the challenge we collectively face. This has included:
- legislating robust national emissions targets,
- enabling clear accounting standards for climate-related financial disclosure aligned to the ISSBs,
- reforming the Safeguard Mechanism to require reductions from Australia’s largest emitters, and
- ensuring the integrity and effectiveness of Australia’s Carbon Credit Units (ACCUs).
The landscape for a voluntary climate disclosure has changed - and the Climate Active certification has responded. Now business leaders have to do the same.
As of October this year, Climate Active has announced proposed changes to the evidentiary burden for organisations seeking certification. There are three main changes that have been proposed:
- Reporting gross carbon emissions reduction
- Replacing the carbon neutral status with another, more appropriate, term
- Mandating renewable energy consumption
What better way to navigate change, than with community. That's why we brought Sustainability leaders from responsible investing, loyalty technology, digital design and facilities management to talk about the impact of dynamic obligations on business operations. This blog post is designed to reflect our talking points and unanswered questions - so that we all may feel like a stakeholder in our changing definition of climate ambition.