This Climate Week, I did something crazy. In the middle of a packed week of panels, roundtables, and interviews in New York, I hopped on a plane across the country and spent a day at the MINExpo conference in Las Vegas for a forthcoming story. In the giant halls, alongside trucks the size of jet planes, companies gathered at the mining equipment conference promised to decrease their customers' carbon footprints and allow them to operate their mines more sustainably.
In Vegas, where the target audience was the sea of men in suits and company polo shirts who buy mining equipment, I couldn’t help but think something has shifted. For a variety of reasons, just outside of the public eye, the private sector continues to move forward on decarbonization. Corporate customers across sectors and geographies are demanding lower-carbon solutions, and the promise of continued regulatory pressure has not dissipated.
And, over and over again, executives told me that the European Union’s climate disclosure rule—known in shorthand as CSRD—would act as a game changer. The, which took effect this year for some firms already and will expand to more in the coming years, requires companies that do substantial business in Europe to disclose not only financially material information about how climate change affects their operations but also the ways that their operations materially affect the environment.
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