A recent report by climate data group Net Zero Tracker found that most corporate net-zero pledges globally lack detailed plans, regular reporting, as well as clear conditions on the use of carbon offsetting. 

Professor John Wiseman, climate and energy transition specialist and Senior Research Fellow of the Melbourne Climate Futures at University of Melbourne weighs in on the challenges behind a smooth and just green transition.

Presented by: Ryan Huang

This podcast is produced and edited by Yeo Kai Ting (ykaiting@sph.com.sg) 

Highlights:

(00:00) Introduction 

(01:15) Why is there a disparity between corporate net zero pledges - what they're promising versus actual plans and regular reporting? Why is there this disconnect?

(02:42) John, could describe how bad or prevalent you think this situation is, and maybe some examples challenges you've observed, by stakeholders on both sides of the fence when it comes to finding that solution - that equitable solution?

(04:37) It does sound like it's quite common sense to go green, and to make big promises to go greener, to go for net-zero. So, when we look at some of the challenges you've just outlined, how much is due to, within the company -politics playing out, different business divisions having different priorities, and a bit of friction between profitability versus going green, and maybe just a lack of know how - how much of that is coming to play here?

(06:15) Now, looking at this situation, and linking it back to that global call to phase out coal we've been getting quite a lot. How is this playing out in Australia, where we've got, of course, Australia being a big exporter of coal, you've got China using quite a bit of fossil fuels as well. How much of a situation is this, where you've got corporates in Australia also going through this disconnect, when it comes to having to deal with the global call for phasing out coal?

(08:20) This has been the target for many governments as well. So, when it comes to reaching that goal of net-zero, do you think it's more effective to have more carrots or more sticks, taxes versus incentives?

(10:31) So, this brings the question - the jobs at stake, because a lot of these jobs, in especially emerging countries could be gone if people just press on. And the question then is, how do you do this in a just way to transition from that phase to where you want to be, without having to disrupt their lives and livelihoods?