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ITS EDUCATION ASIA ARTICLE


New UN HLEG announced to get net zero pledges accountable

By Danny Harrington, MD ITS Education Asia


With an increasing skepticism towards net zero pledges and claims being made by both private sector and state actors, the UN Sec-Gen has appointed a new high level expert group on the Net-Zero Emissions Commitments of Non-State Entities. It will cover areas such as ESG, carbon and climate disclosure standard setters; securities and accounting regulators; regulatory and policy bodies supervising the global financial system; leading global civil society organizations including youth; and climate science. It is hoped greater accountability and the perception of it can be improved as well as achieving better common standards for reporting. The HLEG recommendations are hoped to cover:

  • standards and definitions for setting net-zero targets, and any elements to maximize integrity;
  • credibility criteria used to assess the objectives, measurement and reporting of pledges;
  • processes for verifying progress towards net-zero commitments and decarbonization plans; and
  • a road map to translate standards and criteria into international and national regulations.

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