Private enterprises and state-owned enterprises around the world are increasingly making net zero pledges, as are governments.
But a new report by a high-level United Nations expert group says too often those private sector pledges lack credibility and are little more than greenwashing.
The report has been released overnight at COP27 in Egypt by the UN Secretary General and recommends regulation to ensure the credibility of genuine net zero claims.
Chair of the New Zealand Climate Commission, Dr Rod Carr, is one of 17 experts appointed by the Secretary General to the group which wrote the report. He says it has particular relevance for New Zealand.
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