Scott Lane, the CEO and founder of Speeki, a full-service ESG and sustainability reporting and management partner to large multinationals, is calling on regulators to classify excess levels of CO2 as noxious to force accountability for its effects on the planet’s health.
Lane’s intervention comes hot on the heels of record-setting temperatures across the globe. Reports suggest average global temperatures surpassed the landmark 1.5°C in January (Nature), and carbon emissions continue to rise despite widespread corporate net-zero pledges and a catalog of international agreements.
Lane, a long-term leading figure in ESG and sustainable practices for corporates, wants regulators to drive producer responsibility to ramp up progress on emissions reductions and removals.
Scott Lane, CEO and founder of Speeki, said, “Businesses collectively need to move far faster to reduce carbon emissions. Right now, excess CO2 is not treated like a harmful substance, meaning companies are working to reduce emissions without any real regulatory drivers. Classifying excess CO2 as a noxious gas or in a way that really puts CO2 at the same level as other regulated gases and chemicals, puts significant focus on CO2 and may drive increased change.
“Accepting this would be a bold approach to climate policy, and it would undoubtedly receive heavy backlash, but the climate challenge with significant increases in greenhouse gases in the atmosphere isn’t waiting, and creative policies by regulators are now essential to move the dial on this issue.
“The impact of excess CO2 in our atmosphere on society isn’t dissimilar to other noxious pollutants – it drives harmful environmental incidents and threatens human health and well-being. And it’s already causing a significant economic burden.
“By classifying excess CO2 emissions as a noxious substance, or at the very least a substance of very high concern, regulators would give themselves the tools to force much faster emissions reductions, by making inaction financially impactful. Businesses would have no other option but to accelerate investment towards reducing emissions.
“A sunset clause will be essential for a policy like this to succeed – lifting controls once CO2 levels in the atmosphere reach a safer level. We need a more agile way of thinking when it comes to climate and climate regulations – as the current voluntary-based model with targets drifting 50 years into the future for some companies seems to lack conviction.”
