A new paradigm in climate regulation is unfolding in 2024, bringing with it a shift towards more sophisticated sustainability practices. The introduction of landmark regulations is a clear signal that the era of basic Scope 1 and 2 GHG reporting and reliance on carbon offsets is ending.
Pioneering Regulations Reshaping Corporate Sustainability:
The Climate Corporate Data Accountability Act: Starting in 2026, California-based companies with over $1 billion in revenue must report Scope 1, 2, and 3 GHG emissions, highlighting the need for a more nuanced approach to emissions tracking.
The SEC’s Climate-Related Risks Rule: Set to be finalized in April 2024, this will enforce rigorous reporting of GHG emissions and climate-related risks for U.S. publicly traded companies.
European Union’s CSDDD and CSRD: These demand detailed reporting on environmental, human rights impacts, and sustainability, including a double-materiality assessment.
NYC’s Local Law 97: This legislation aims to significantly reduce GHG emissions from large buildings, setting a precedent for aggressive emission reduction strategies.
European Union’s CBAM: From 2026, this regulation will require declaration and payment for embedded GHG in carbon-intensive goods entering the EU.
How Our Platform Can Help:
The Clean Incentive platform is at the forefront of this regulatory evolution, championing the use of attribute certificates to track carbon impact across multiple sectors. Here's how we're revolutionizing sustainability practices:
Enhance Scope 2 Emissions Tracking: We help corporations go beyond traditional REC purchases by quantifying the grid carbon impact. We enable an "emissions first" approach to energy procurement. Our tools offer cutting-edge assessment and management for carbon matching of all induced and avoided emissions in the power sector.
New Scope 3 Tools to Track Carbon Intensity: In line with the EU's CBAM regulation, our platform allows corporations to replace industry-average emissions factors with "supplier-specific" emissions factors. This is mature in the power and biofuels markets but can be expanded to more sectors.
Next-Level Solutions on the Horizon
Our commitment to advanced sustainability doesn't stop here. We're excited to announce our upcoming Scope 2 and Scope 3 products designed to enhance reporting and reward producers with positive impact on the environment. These innovations represent a leap forward in our journey towards a sustainable future.
Join us as we navigate this new era of environmental regulation and responsibility. Connect with us to explore how our platform can transform your sustainability journey in this evolving landscape.