Data & AI

Despite multi-trillion-dollar trade in carbon credits and climate bonds, global emissions are still heading in the wrong direction, reports the World Meteorological Organization (WMO). 

Misleading the public to believe that a company or entity is doing more to protect the environment than it is – commonly known as greenwashing – was identified in a special report presented at COP 27 as the leading cause of the disconnect. 

“To prevent dishonest climate accounting and other actions designed to circumvent the need for deep decarbonization, we emphasize that non-state actors must report publicly on their progress with verified information that can be compared with peers,” said the report by the UN High Level Expert Group on the Net Zero Emissions Commitments of Non-state Entities. The report concluded that loopholes in current accounting standards must be tightened with the “best available science, emerging digital monitoring evaluation and verification capabilities.”