Matthew Kilgarriff

The next round of discussions on the #NCQG got underway today in Baku. Here are a few things we expect negotiators, particularly those from developed countries, to keep in mind as we move closer to finalizing the goal at #COP29 - one that must meet the needs on the ground.👇

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The concept of #materiality sits at the heart of #bestpractice identification, management and reporting of #sustainability risks and opportunities. It guides the prioritisation of those risks and opportunities that can significantly impact our business and/or are most important to our stakeholders. As a demonstration of our #sustainabilityleadership, New Forests regularly assesses materiality, guided by globally leading sustainability-related reporting frameworks including the Integrated Reporting (IR) Framework, the Global Reporting Initiative (GRI), the FSB Task Force on Climate-related Financial Disclosures (TCFD), the Taskforce on Nature-related Financial Disclosures (TNFD) and the nascent International Sustainability Standards Board (ISSB). Done well, a materiality assessment should do more than inform our sustainability management and reporting. A refreshed understanding of the environmental, social, and governance themes that are most important to stakeholders is a valuable input to strategic planning, helping to inform business strategy and resource allocation and guide performance measurement. This year we evolved our Materiality Assessment to incorporate a double materiality approach to understand the environmental, social or governance themes of significant to our stakeholders (impact materiality), the themes which most affect New Forests’ business going forward (financial materiality) and those themes which are material from both an impact and financial lens. We also expanded the number and types of stakeholders engaged, for example, including Environmental NGOs as a proxy for the environment, given our reliance on nature as manager of nature-based real assets and natural capital strategies. Well done Carly Hammond for pursuing a novel approach to gaining input from our stakeholders and her considered way of bringing it all together. If you want to know the findings from our 2024 Materiality Assessment, I encourage you to read our Report, that can be found here https://lnkd.in/gepKBiq6.

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During last weeks #PlasticsTreaty INC4-meeting I talked with Steve Toloken from Plastics News on the recent UN Environment Programme science report categorised #EPS (Expanded #polystyrene) transport #packaging as “#recycled at scale and in practice” on a global level. This makes EPS one of only six plastic packagings, which is widely regarded as recyclable. It is a tipping point for the EPS industry, as we no longer need to discuss if EPS can be part of the #circulareconomy! We can now focus on increasing #recycling and expanding coverage. The aim is of course to achieve app. 90% effective recycling rate, such as in Norway and Switzerland! In Denmark at EPS-branchen - en del af Plastindustrien we estimate we are close and will achieve this with roll out of EPR (extended producer responsibility). Proud to represent EUMEPS as part of GESA in the process. Read the interesting conversation between Steve, Betsy Bowers from EPS INDUSTRY ALLIANCE INC and Becher Townshend from Expanded Polystyrene Australia (EPSA). https://lnkd.in/deV-C2fW

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https://lnkd.in/dxxcUTza " Multilateral development banks have a key role to play in supporting and financing circular approaches. Recognising this, a group of these banks came together to discuss how to better support the circular economy and promote an exchange of knowledge with the private sector, civil society, and local, regional and national authorities. This report is a result of their work. It presents 20 case studies from around the world that highlight the kinds of support on offer, such as advisory activities, public-sector lending, private-sector investments and backing for the financial sector. Sharing these experiences is important for identifying and adopting successful approaches that can be replicated and scaled up around the world." #investment #circulareconomy #greeneconomy #banks

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https://lnkd.in/dchB4cP3 <<The primary objectives of the package include: Guaranteeing environmental integrity and addressing solidarity The European Union Emissions Trading System (EU ETS) will be tightened and strengthened, helping to ensure effort sharing with relevant targets Additional policies will help ensure the implementation of carbon prices All revenues from carbon pricing aim to positively influence final consumers.>> #transition #green #ETS #carbon #policies #environment #revenu #resilience #EU #CUOSUERD

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'𝗕𝗮𝗻𝗸𝗶𝗻𝗴 𝗼𝗻 𝗡𝗮𝘁𝘂𝗿𝗲 𝗣𝗼𝘀𝗶𝘁𝗶𝘃𝗲' Released on #Finance and Biodiversity Day at #COP16, our new report sets out how the banking sector can accelerate the shift to a global #naturepositive economy. It offers a five-point plan for how public development and commercial #banks can take a 'whole-of-banking' approach by: 1. defining what it means to be nature-positive 2. enhancing transparency through robust data sharing 3. fostering innovative financial solutions 4. mobilising collective action 5. building the internal capacity necessary for meaningful change Download here: https://lnkd.in/eyT7ED37 WWF Colombia Elisa VACHERAND Jochen Krimphoff Nicolas Picchiottino Franco Piza Sjoerd van der Zwaag Nicolas P. Jessica Villanueva Jane Waiyaki-Maina Matteo Marinelli Kaitlin Schleis Niklas Bals Elizabeth Aceituno matthias kopp Rebecca Stringer Fernando Diaz de Vivar Christine Colvin Alice Ruhweza Christine J. Wanjiku Mwangi, CFA Maud ABDELLI Adam Ng Karen Ellis Fabricio de Campos Fungai Musana Melanie Vilarasau Slade WWF

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🌍 Can biodiversity credits drive global restoration efforts? The creation of the International Advisory Panel on Biodiversity Credits (IAPB) is a major milestone, expanding perspectives and mobilizing a broad coalition of countries beyond the initial Franco-British framework. The recent #COP16 in Cali demonstrated the growing global interest in this collective effort. The framework established by the IAPB brings crucial international recognition. It defines what a high-quality biodiversity credit should look like. It builds on efforts and contributions from many stakeholders including World Economic Forum and Biodiversity Credit Alliance. It is however only a first step. We now need to address the challenge of market structuring. The demand side is key: the involvement of large companies is essential. I am also convinced that, by often treating carbon and biodiversity credits separately, we are missing an opportunity to promote a « nature credit » model that combines both, as companies are only beginning to grapple with the complexities of carbon credits. The example of the Green Bonds Principles, which have successfully structured a market, offers a compelling model for the next phase of the IAPB's work. #BiodiversityCredits #GreenTransition #SustainableFinance #GreenInnovation #ClimateGoals Sylvie Goulard Dame Amelia Fawcett DBE, CVO David Vaillant Read the #IAPB framework 👉🏼 https://lnkd.in/e_Wky7xf

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Really interesting study on the trade offs of ecosystem services under differing grassland management regimes… #naturecrisis #ecology #ecosystemservices https://lnkd.in/eAqhVhmx

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Very useful. ESRS should be used as the main standard for biodiveristy reporting. WWF RECOMMENDATIONS FOR NATURE TARGET SETTING IN THE CONTEXT OF ESRS DISCLOSURES

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🌍 A Major Step Forward: The New #IAPB Framework for #Biodiversity Credit Markets The International Advisory Panel on Biodiversity Credits (IAPB) recently unveiled a #framework at #COP16 that could reshape how we think about financing nature restoration and conservation through high-integrity biodiversity credits. This framework is built on collaboration across sectors—including finance, Indigenous Peoples, local communities, NGOs, and academia—highlighting how biodiversity credits can drive impactful, locally-rooted outcomes for nature. 🌍 Here are a few key takeaways from the framework that stood out to me: ✅ High-Integrity Markets Are Achievable – With robust standards, biodiversity credits can evolve into trustworthy markets that benefit both nature and people. Success depends on verified biodiversity outcomes, equitable processes, and strong governance. ✅ Respect for Nature’s Stewards – Indigenous Peoples and local communities bring invaluable knowledge and traditions to biodiversity projects. This framework emphasizes their essential roles and calls for their active inclusion. ✅ Focus on Local Action – Compensation for biodiversity impacts must remain local-to-local, not international, following strict guidelines for fairness and ecological integrity. #Biodiversitycredits, if used thoughtfully, offer businesses a tool to demonstrate meaningful contributions to nature goals. For companies aiming to make evidence-based impacts within their supply chains or within local ecosystems, this approach represents a promising path. I’d encourage anyone in #sustainability, conservation, and corporate responsibility to read the Executive Summary to see how biodiversity credits could enhance your organization’s approach to biodiversity: https://lnkd.in/dvmAKGEE #biodiversitycredits #sustainablefinance #naturepositive #COP16 #biodiversityconservation #IAPB

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A super thought provoking read! #JustResilience is definitely an important aspect for social justice in the face of climate change. Interested to see how can this be achieved.

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📢 More exciting GRI Standard updates & opportunities to be involved in shaping the #GRIStandard to serve the public interest & assorted #stakeholders – including businesses & investors: 📝 #GRI is updating our pollution-related GRI Standards. The revision will strengthen disclosures on #pollution impacts from a holistic perspective, including #air, #soil, #water & other pollution-related dimensions, as well as organizations’ management of these #impacts. 👥 You & your network are invited to apply to join the Pollution Working Group to update the existing standards & develop new pollution-related disclosures, requirements, #recommendations & #guidance to address areas not currently covered by the GRI Standards. As always, this GRI Working Group will consist of diverse members from across the world with representatives from #businesses, #investors, civil society, #labor & mediating institutions (#academia, disclosure instrument producers, governments etc.) 📅 Deadline for Working Group applicants: August 18th People with expertise in air & soil pollutant emissions, hazardous substances & critical incident management are encouraged to apply. 👉Learn more about the project here: https://lnkd.in/gDaWyWBK #SustainabilityReporting #Sustainability #ImpactReporting #ESG #ESGReporting

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A huge partnership - the GHG Protocol and the IFRS Foundation! Does this solidify the International Sustainability Standards Board (ISSB)'s place as the global sustainability standard setter? I think so, at least as to climate disclosure standards. Recall, the #issb is the organization that has established standards that will form the global baseline for sustainability reporting, harmonizing what had been a fragmented reporting environment. It has started with general and climate disclosure standards and will go on to create standards on other sustainability topics. The #GHGProtocol is the accounting standard that defines how carbon is accounted for and created the concept of Scopes 1, 2, and 3 emissions. This partnership will drive further harmonization in global climate reporting. 💪

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Curious about climate finance? This beginner-friendly guide breaks down: ✅ What it is and why it matters. ✅ How funds fight climate change. ✅ Challenges and solutions for a sustainable future. Proud to have contributed to this resource aimed at empowering action for a greener world. 📖 Access it here: https://ycfi.org/ #ClimateFinance #Sustainability #ClimateAction

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Delivering sustainable climate action: reframing the sustainable development goals. This perspective considers how to re-frame the SDGs and their successor towards mainstreaming climate action within the targets and indicators of all the development goals. https://lnkd.in/gWgZaFdw

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I've been thinking about the role of double materiality assessments and how important it is to get this right ... And to make sure, particularly in the assessment of nature-related risk, that the scope is sufficiently broad, deep and truly integrated and that the currencies used are not only financial. What are we measuring and why? And if we only measure and manage the tip of the ice berg (those things that come to the top in a materiality assessment) are we missing the fundamental substance that underpins everything, and maintains the resilience and persistence of the system in the first place? This article resonates after discussions at #InnovationZero earlier this week ... What a packed week it has been! 🐝 The article discusses how central banks and financial supervisors are recognizing the threat of nature loss to their mandates. It highlights the Network for Greening the Financial System's suggestion to prioritize nature-related risks by focusing on specific ecosystems, particularly those subject to tipping points—critical thresholds leading to potentially catastrophic global impacts. 🌳 It explores various ecosystem tipping points (ETPs) and their economic drivers, such as climate change and deforestation, emphasizing the risks they pose to economic and financial stability. The article argues that current modeling efforts may underestimate these risks, and there should be a focus on preventing ETP occurrences, not just updating models. 🦂 The concept of double materiality is proposed as a promising approach, focusing on where financial actors are exposed to economic activities driving ecosystems toward tipping points. The article emphasizes the need for coordination between financial policymakers and ministries of finance, environment, and industry to prevent ecological risks. 🦒 Furthermore, it explains the dynamics of tipping points, especially in climate change and nature loss contexts, and their potential consequences for economies and societies. It discusses how crossing tipping points can lead to irreversible changes, affecting sectors like agriculture, forestry, and transportation, and spreading risks globally through interconnected value chains and weather patterns. The authors acknowledge the challenges in quantifying these risks but suggest improvements in modeling frameworks and collaboration with Earth systems scientists. It also emphasizes the importance of precautionary financial policies and international collaboration to address underlying drivers of ecosystem destruction and achieve global climate and biodiversity targets.

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#CDP has rolled out a new integrated format for the CDP full corporate questionnaire, combining all three existing questionnaires across climate, forests, and water security into one integrated questionnaire ! For details, refer below 🙌 #CDP #Climate #Forest #Water #Sustainability

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