Set Regulated Net-Zero Targets, McKenna Task Force Urges

Climate science and the depth of the climate emergency demand that industries, financial institutions, cities, and regions commit fully to real net-zero targets, stop greenwashing their activities, start lobbying for rather than against ambitious government climate policies, and shift from voluntary climate action to regulated, verified emission reductions, according to a UN expert panel chaired by former Canadian environment and climate minister Catherine McKenna.

 In a media briefing, McKenna said the report challenges companies to adopt science-based climate targets, “show the work” by publishing transition plans with short- as well as long-term targets, and disclose their progress transparently and publicly based on standardized reporting methods.

“You cannot lift up your hand and say you’re going to be net-zero and be a climate leader and be investing in new fossil fuel supply,” McKenna said. And “you can’t be just meeting targets by buying cheap credits that often lack integrity, rather than doing the hard work of reducing emissions yourself.” Having fossil companies buy up cheap carbon offsets that have negative impacts on Indigenous communities is “one of the most glaring examples,” she added, and “paying very little to continue to pollute while having a harmful impact” is not the way to get emissions under control.