The Biden administration’s recent actions represent a 180 degree turn by the USA on carbon. However, the juggernaut that is Environmental, Social and Corporate Governance (ESG) has been traveling sometime and has built quite a head of speed already. The shift in US politics will simply give more impetus to something that is already occurring and rapidly – at least in the western world. Further regulatory and political pressure will just force the ESG trend according to Bruce Tozer of Gen10. He sees finance sector initiatives like climate disclosure having a powerful impact on commodities. “Big questions are being asked of the sector,” he said. “At the same time, the EU ETS is having a strong and sustained resurgence as it moves into the post 2020 post Kyoto era,” he says. “Carbon prices have spiked right up despite the lockdown and lower economic activity.” Bruce also points to a lack of global standards around carbon as a bit of an issue for commodity firms. Most carbon markets are regional with different rules, instruments and so on as well as different prices. “Lack of consistent Carbon standards is a major issue. The Taskforce for Scaling Voluntary Carbon Markets, spearheaded by Mark… continue reading
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