Net Zero Consultation Opportunties ONZ ERI


1	ONZ submissions to standards consultations March-Aug 2023
2	Organisation	Standard	ONZ submissions	Focus area/s	ONZ input
3	GHGP (WRI/WBCSD)	GHGP Corporate Accounting and Reporting Standard, Scope 2 Guidance, Corporate Value Chain Standard, Scope 3 Calculation Guidance, new market-based mechanisms proposals (4 surveys)	March 2023	GHG emissions quantification and reporting	Encouraging maximum alignment with other initiatives, proposing the following new requirements: scope 3 reporting, uncertainty in quantifications, citing of emissions factors, annual reporting. Also proposing that offsetting, insetting, removals both within and outside value chain, and avoided emissions all be reported separatey from each other and separately from the main inventory and separately from reporting of emission reductions. Also advocating for an in-depth review of the use of renewable energy certificates as a basis for market-based reporting of scope 2 emissions, and for a cautious approach to proposals for the extension of market-based accounting to scope 3 emissions.
4	South Pole	Proprietary label "funding climate action"	May 2023	Company claims based on voluntary use of carbon credits	Welcoming move to reduce misuse of claims such as net zero and carbon neutral, suggesting adaptations to make the proposed label clearer for consumers, urging alignment with other claims initiatives, suggesting inclusion of % of purchases of removals credits.
5	UK government - Dept for Energy Security and Net Zero	Climate Change Agreements scheme for businesses (to 2027)	May 2023	GHG emissions reporting and target-setting (sectoral)	Proposing that any sector pathway proposed by a sector association should reference internationally-recognised sector pathways produced with input from independent bodies.
6	VCMI	VCMI Claims Code of Practice (due for publication end June 2023)	via BSI June 2023	Company claims based on voluntary use of carbon credits	Urging further alignment with the other initiatives, especially ISO IWA 42 and the HLEG Integrity Matters report and care to be taken to rely too heavily on just a few initiatives for accounting and target-setting, given the need to achieve maximum alignment internationally.
7	ISO	ISO 50010 Energy and Net Zero	June 2023	Defining and achieving net zero energy and carbon in buildings	ONZ prompted discussions between relevant ISO committee chairs on alignment with IWA 42 Net Zero.
8	BSi	SME Specific Net Zero			Encouraged to align with SME Climate Hub
9	EU	Green Claims Directive	July 2023	Claims on sustainability by companies	Welcoming the proposals, giving input for possible future guidance on claims based on carbon credits, questioning the appropriateness of approval at national level for all certifications and labels, proposing SMEs delivering climate solutions are excluded from the substantiation requirements.
10	SBTi	Beyond value chain mitigation guidance	July 2023	Voluntary use of carbon credits	Proposing that beyond value chain mitigation is defined broadly, to cover investments in carbon credits, pooled value chain mitigation activities, avoided emissions, lobbying and more. And that companies should be expected to report on these mitigation activities in a structured way. Each type and area of beyond value chain mitigation will have its own standards, written by a variety of organisations.
11	SBTi	SBTi targets (near-term and net zero) for financial sector and Financing of fossil fuel companies	Aug 2023	Decarbonisation targets for financial institutions	Urging SBTi to ensure all deadlines and threshold levels in methodologies are revisited regularly to take account of the latest climate science, proposing the definition of abatement is revisited to ensure clarity, and proposing additional disclosure requirements by financial entities in respect of fossil fuel investments.