In this issue:
New Standard to fight greenwashing
The IAASB (International Auditing and Assurance Standards Board) has just launched a proposal on an international standard on sustainability assurance. The intended aim is to improve confidence and trust in sustainability reporting against a backdrop of increasing concerns of greenwashing. The proposed standard is out for consultation with a closing date of 1st December 2023.
9 out of 10 energy leaders concerned about supply chains
A new report from Bureau Veritas of 800 energy leaders tells us 90% of them are concerned about supply chains to enable the energy transition. While we see a steady stream of reports showing the growth in renewables and predictions of further, massive escalation, confidence around availability and access of equipment flounders. One third of respondents say they are still struggling with supply chains because of the pandemic. The biggest concerns are around the concentration of supply in China with semiconductors and solar panels listed as high risk dependencies.
More earthquakes and eruptions on the way?
We hear lots of tragic news about wildfires, droughts and storms and their increasing frequency and severity caused by climate change. The Conversation carried an interesting piece this week warning there could also be impacts on volcanic and earthquake activity. Summarising the results of studies in the Himalayas, Scandinavia and Iceland, it concludes climate change will lead to increased severe rainfall and glacial melt, which has been linked to seismic activity (Himalayas and Scandinavia) and volcanic activity (Iceland). Given our exposure to both volcanoes and earthquakes, it provides yet more reason to fight climate change.
Hydrogen not the answer for trains
The first operator to adopt hydrogen as a rail fuel at commercial scale is switching to electricity. Lower Saxony based LVNG started trialling hydrogen fuelled trains in 2018 and started commercial operations in August last year. However, at the end of July it announced it is switching to electric units. The hydrogen units would be expected to cost 80% more to run over the long term and encountered refuelling problems in winter.
Auckland Climate Festival
In case you haven’t heard yet, the Auckland Climate Festival will soon be upon us. The festival is offering over 150 events focused on raising awareness and action to combat climate change. Activities kick off on 31st August and draw to a close on 29th September.