This week: Studying reusable packaging; Developing biodiversity disclosures; Squeezing climate funds.

Welcome back. An independent group is staking out a position as a judge of quality in the largely unregulated market for carbon offsets.

The Integrity Council for the Voluntary Carbon Market, which includes former government officials and climate-finance experts, is gearing up to start reviewing applications from organizations that approve and issue credits—such as Verra and Gold Standard. Credits that meet its standards will carry a so-called Core Carbon Principles badge, which aims to help companies tell the difference between good and bad offsets.

It expects to issue its first approvals by the end of the year. The ICVCM’s staff will also field complaints and can suspend or terminate previous endorsements.

Some sustainability executives worry about being swept up in the next carbon-credit scandal. Others fear lawsuits that call into question how carbon offsets back up climate claims that increasingly appear on products. A big part of the problem is there is no single accepted definition of what creates a “high-quality” offset, which the ICVCM hopes to solve.

Still, it remains to be seen how carbon crediting organizations will adopt the ICVCM’s standards. “The impact of these principles will only be as valuable as the uptake,” said Lucy Hargreaves, head of policy and corporate affairs at carbon-credit marketplace Patch.

Verra, which runs the world's largest registry for carbon offsets, supports the group’s work but is holding off on preparing its application until the ICVCM provides more guidance in the summer on specific types of credits, such as forestry and renewable energy, according to a person familiar with the nonprofit’s plans.

And while quality standards are helpful to corporate buyers, they don’t lay out the acceptable ways to use carbon credits in their climate plans.

“What the principles do not solve for, however, is broader confusion in the market,” Ms. Hargreaves said. “We hear time and time again from our buyers that they need a commonly agreed upon roadmap.”

Fast-food chains are considering reusing, and eventually recycling, plastic utensils, cups and other tableware. In France and Germany, laws have already forced their hand.

McDonald’s Corp. said it would release a report next year examining the pros and cons of reusable packaging in its restaurants worldwide. It is already serving fries, Happy Meals and drinks in reusable containers for meals served on-site in its French outlets, and upon request for drinks and ice cream sold at its German stores.

But reusable packaging also contributes to plastic waste. A reusable cup has to be used 50 to 100 times to make it preferable to a single-use cup from a waste standpoint, according to estimates. It also costs more to buy durable plastic, and more energy is consumed to wash and maintain these cups.

‏‏‎A company can measure its effect on global warming with numbers on greenhouse-gas emissions, fossil-fuel consumption and renewable-energy purchases. Biodiversity isn’t so straightforward.

The Taskforce on Nature-Related Financial Disclosures is tackling the challenge. It aims to help big businesses and financial institutions report and act on nature-related risks, covering issues including deforestation, pollution, water stress and overfarming, Joshua Kirby writes. The standards are still in the works, but it is possible specific metrics could involve year-over-year data on habitats around a factory, for instance.

Every cyberbug has a backstory, and Walmart is turning to actuaries, insurance experts, accountants and lawyers to help gauge security threats.

Retailers such as American Eagle Outfitters and Nordstrom are using chips to track inventory at stores and gain insights into customer habits in real time.

The salaries offered to U.S. accountants and auditors last year climbed at their quickest pace in recent years, but it may not be enough to remedy a national shortage of accountants.

An 834-unit apartment under construction in Brooklyn will be powered with geothermal energy. (Bloomberg)

A challenge to President Biden's ESG investing rule for retirement plans is staying in Texas court. (Reuters)

Fashion companies are increasingly going animal free, but investment in next-generation textile startups fell last year. (GreenBiz)

Asset managers are being advised by their lawyers not to adapt portfolios to planned ESG rules that would force many to abandon the label. (Bloomberg)

Companies are spending up to half a million dollars a year on a sustainability rating, according to new research. (Reuters)

Football and climate: The top 20 most sustainable English Football League clubs. (BBC)