Greenwashing under scrutinity

COP Review#2

“Let’s call a spade a spade!” That’s how we could simply summarize the UN report on “greenwashing” by businesses.

Here are the key points of the report :

• We cannot claim to be fighting climate change while simultaneously developing or investing in fossil fuels (particularly oil and coal). The only way forward is to definitively move away from fossil fuels and towards renewable energy.
• There is an issue about impact assessment, and we need to move to clearer figures.
• The principle of “compensation” (of emissions) leads to a certain form of status quo and must be replaced by the principle of “elimination” (of emissions).

“While the UN report has the merit of outlining a clear and radical path, while also advocating for simplified indicators, it does not really address the question of governance and management.”

In fact, who will lead and how will we establish a shared framework and “red lines” in order to support the transition of companies and financial institutions towards this new model? Should the system remain incentivizing or become binding? And who will decide?

This is where the UN General Secretary strategy of speaking directly to companies is interesting. If the UN is now speaking directly and equally to companies, what does that imply for their roles and responsibilities tomorrow in driving the transition towards sustainable development models at the international level? And what do companies think about this?