- There is a compelling case for regulations and standards to be streamlined and standardised to reduce confusion, minimise the administrative burden on producers and make it easier for financial institutions to identify sustainable businesses to fund. A reduced number of standards might also make it harder for companies to hide behind weak standards.
- It should be considered whether lowering reporting requirements to only Scope 1 emissions may be more effective as it should be attainable for companies of all sizes, thereby levelling the playing field in the short-term, allowing standards to be gradually raised in the long-term.
- In the long-term the development of globally accepted standards could incentivise producers to decarbonise their operations.
- Producer and processing countries should be supported, where required, to undertake strategic planning and industrial policy work. This should enable better prioritisation of government resources in areas like land use regulation and infrastructure to maximise impact in facilitating renewable energy expansion.
- The removal of fossil fuel subsidies will likely be key for incentivising increased uptake of renewables.
