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Opinion / #carbon credits
Sustainability standards and ratings do not generate enough information for businesses to understand their environmental impacts across scales and create mitigation plans to avoid further transgression of planetary boundaries.
The fashion industry business will not come from diplomacy or presidential handshakes, but from trust-based relationships built on fair purchasing practices, sustainability concerns, and other ethical commitments.
Unless governments act fast to tighten rules on carbon credits, Article 6 could become a dangerous loophole that stalls progress.
With one of the weakest carbon taxes globally, the region’s largest economy risks becoming the world's leading enabler of carbon leakage, where emissions aren't reduced, just outsourced to nations with weaker policies.
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