Raison Recap – June 10th 2024

As the votes from the EU Parliament elections are trickling in this morning, here’s a sweep of last weekโ€™s headlines in review:

โœ‰ ๐Ž๐ฉ๐ž๐ง ๐ฅ๐ž๐ญ๐ญ๐ž๐ซ ๐ญ๐จ ๐„๐” ๐ฅ๐š๐ฐ๐ฆ๐š๐ค๐ž๐ซ๐ฌ ๐Ÿ๐ซ๐จ๐ฆ ๐ฌ๐œ๐ข๐ž๐ง๐ญ๐ข๐ฌ๐ญ๐ฌ ๐ฐ๐š๐ซ๐ง๐ข๐ง๐  ๐š๐ ๐š๐ข๐ง๐ฌ๐ญ ๐†๐ซ๐ž๐ž๐ง ๐ƒ๐ž๐š๐ฅ ๐ซ๐จ๐ฅ๐ฅ-๐›๐š๐œ๐ค:
Last week, 20 science associations and networks across Europe expressed their concern over a series of decisions taken by European decision-makers during the past few months in what they refer to as an ‘attack’ on the Green Deal. This morning, the letter appears to have been a timely foreboding of what looks to be an increasingly challenging and uncertain time for the green and social justice agenda in Europe as early results from the European Parliament elections suggests that while the middle still holds, far-right parties, many of whom are vehemently opposed to the Green Deal, will win a record number of seas.
๐Ÿ‘‰ Read the open letter from concerned scientists here: Expression of Concern by Scientific associations: https://lnkd.in/dg7PEheM

๐Ÿ“ˆ ๐ˆ๐…๐‘๐’ ๐ข๐ฌ ๐ ๐š๐ข๐ง๐ข๐ง๐  ๐ฆ๐จ๐ฆ๐ž๐ง๐ญ๐ฎ๐ฆ ๐ฐ๐ข๐ญ๐ก โ€˜๐ก๐š๐ฅ๐Ÿ ๐จ๐Ÿ ๐ญ๐ก๐ž ๐ ๐ฅ๐จ๐›๐š๐ฅ ๐ž๐œ๐จ๐ง๐จ๐ฆ๐ฒโ€™ ๐ฆ๐จ๐ฏ๐ข๐ง๐  ๐ญ๐จ๐ฐ๐š๐ซ๐๐ฌ ๐š๐ฅ๐ข๐ ๐ง๐ฆ๐ž๐ง๐ญ:ย In 2021, the IFRS Foundation set out to develop a global reporting standard to provide investors with standardised information about companiesโ€™ sustainability risks and opportunities. Over the past few weeks headlines on LinkedIn and elsewhere suggest that these efforts are bearing fruit as more than 20 jurisdictions, equivalent to 55% of global GDP, have started to incorporate the first two sustainability disclosure standards into national law, starting with EUโ€™s CSRD and with China as the most recent example. On this basis alone, it seems single (financial) materiality disclosure standards are winning grounds globally over the more elaborate approach taken in EU with CSRD and (double) materiality disclosure standards.
๐Ÿ‘‰ Read the statement from IFRS here: https://lnkd.in/eXyXFSZX

๐Ÿ‘š ๐‡&๐Œ ๐ฌ๐ฉ๐ž๐š๐ค๐ฌ ๐ฎ๐ฉ ๐š๐ ๐š๐ข๐ง๐ฌ๐ญ ๐’๐๐“๐ˆโ€™๐ฌ ๐ฉ๐ฅ๐š๐ง๐ฌ ๐ญ๐จ ๐ฅ๐š๐ฑ ๐ฌ๐œ๐จ๐ฉ๐ž ๐Ÿ‘ ๐ซ๐ž๐ช๐ฎ๐ข๐ซ๐ž๐ฆ๐ž๐ง๐ญ๐ฌ:ย Following the mixed reactions to the Science Based Targets initiative (SBTI)โ€™s announcement that it will be looking at more flexible rules for scope 3 emissions reductions, H&M released an open letter to SBTiโ€™s Board of Trustees last week pushing to maintain the focus on absolute emission reductions within the value chain without the use of offsetting. As the fast fashion industry is under growing spotlight for continued unsustainable production and consumption patterns, H&Mโ€™s response is a noteworthy call for maintaining a steadfast focus on curbing the sectorโ€™s soaring emissions trajectory.
๐Ÿ‘‰ Read the open letter here: https://lnkd.in/dyNFbWZd

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