Bias in the decarbonization discussion — how does it manifest? There is no question that the need to decarbonize economies and industries is at an all-time high. However, the conversation is plagued with a baked-in bias that raises questions of fairness — especially in terms of who bears the decarbonization burden and how to distribute this responsibility in a complex global economy.

One way this bias manifests is in how some sectors and countries are left out of the emissions conversation, while others are “being singled out,” Mashreq’s head of ESG and Corporate Strategy Faisal AlShimmari told EnterpriseAM. “This is particularly evident when it comes to non-civilian activities, such as space exploration, where emissions and environmental impacts are rarely addressed,” AlShimmari said.

Some civilian sectors are left out too: The fashion industry is another example of a major emitting sector that is usually missed from the conversation, AlShimmari told us. Some estimates put the fashion industry’s share of global emissions at a staggering 10% responsible, and the European Union has said the sector is responsible for about 20% of the world’s water pollution.

Why does this matter? This selective focus raises important questions about responsibility and accountability — at what point in a product’s lifecycle does the producer’s responsibility for emissions end. It also “impacts broader global goals such as poverty alleviation, safety, security, and overall prosperity,” AlShimmari told us.

One major fix is to apply the same standards across the board, AlShimmari told us. Otherwise, “it doesn’t work,” and “discrimination and double standards” become real issues that hinder meaningful progress. All forgotten sectors need to be brought into the conversation to “create a more comprehensive and fair approach to the global green transition,” AlShimmari added.

But what can be done until then? The media could play a critical role by “raising awareness, shifting societal priorities, and encouraging the adoption of responsible practices,” AlShimmari told us. “A well-executed campaign can have a profound impact by not only informing the public but also influencing policymakers, businesses, and individuals,” he added.

Banks could play a role too: Financial institutions have an opportunity to use their platforms to “educate clients and shareholders about the importance of considering all sectors in emissions discussions. This can help shift public perception and drive demand for more sustainable practices across various Industries,” AlShimmari said.

Tags: