Our expert raises concerns about Australia’s commitment to net zero and examines whether companies are engaging in greenwashing. He warns the devil is in the detail.
The rhetoric around reducing emissions and Net Zero targets has reached a fever pitch. Are we really entering an era of overdue action, or will this prove to be a period of disingenuous greenwashing unlike anything we have seen before?
On the surface, the signs of action are looking positive. More than half of the market capitalization of the ASX200 is now covered by Net Zero commitments. This uptick is a clear sign that decision-makers at the highest levels are increasingly coming on board.
The escalation comes on the back of the collective and clear message from consumers, investors, and global capital markets that a failure to decarbonize will result in reputational and financial damage. But, as Australia’s largest polluters signal their intent to make deep cuts in emissions, the devil will be in the detail.