(Photo: iStock)
The International Energy Agency (IEA) estimates that global renewable energy generation capacity will exceed 4,500 GW by 2024, nearly equivalent to fossil fuels. Businesses are keen to know sustainable green energy trends. Eco-business, a multinational online media ecosystem, has summarized 5 key factors of changing industries and societies. These include Scope 3 supply chain decarbonization, the development of electric vehicles in Asia, the election fever, the growing awareness of greenwashing, and labor rights issues sparked by artificial intelligence.
Scope 3 supply chain decarbonization
The Corporate Environmental Action Tracker report released by the Carbon Disclosure Project (CDP) reveals that companies' disclosure of Scope 3 carbon emissions doubled in 2023 compared to 2019. The significant increase in attention is attributed to the formulation of more stringent environmental protection standards and sustainable practices by relevant regulatory authorities.
For instance, in June 2023, the International Sustainability Standards Board (ISSB) unveiled carbon disclosure guidelines, including General Sustainability Disclosures (IFRS S1) and Climate Disclosures (IFRS S2). In response to demands from government organizations and key stakeholders, companies are taking more proactive measures to enhance transparency. They are setting targets and making commitments through various channels, such as obtaining approval from the Science-Based Targets initiative (SBTi), which includes the disclosure of Scope 3 carbon emissions.
