SBTi Appears to Backtrack on Use of Carbon Credits in Corporate Net Zero Targets
1. NearTerm targets: Companies must prioritize rapid, deep cuts in direct and indirect value-chain emissions. Setting near-term science-based targets to halve emissions by 2030 is crucial for limiting global temperature rise to 1.5°C.
2. LongTerm targets**: Companies should establish long-term science-based targets consistent with net-zero emissions. These targets align with limiting global warming to 1.5°C.
3. BVCM (Business Value Chain Management): Companies need to reduce emissions across their supply chains by at least 4.2% annually to meet the 1.5°C target.
4. Neutralization of residual emissions: The standard addresses how companies can offset any remaining emissions after implementing reduction measures.
Regarding carbon credits, the SBTi has been cautious about their use. However, a recent reevaluation may allow certificates for Scope 3 emissions abatement and accelerate value chain decarbonization.
Originally published on LinkedIn on 2024-08-01 05:18:34: https://www.linkedin.com/feed/update/urn%3Ali%3AgroupPost%3A2635374-7224644658784555010
SBTi Appears to Backtrack on Use of Carbon Credits in Corporate Net Zero Targets
1. NearTerm targets: Companies must prioritize rapid, deep cuts in direct and indirect value-chain emissions. Setting near-term science-based targets to halve emissions by 2030 is crucial for limiting global temperature rise to 1.5°C.
2. LongTerm targets**: Companies should establish long-term science-based targets consistent with net-zero emissions. These targets align with limiting global warming to 1.5°C.
3. BVCM (Business Value Chain Management): Companies need to reduce emissions across their supply chains by at least 4.2% annually to meet the 1.5°C target.
4. Neutralization of residual emissions: The standard addresses how companies can offset any remaining emissions after implementing reduction measures.
Regarding carbon credits, the SBTi has been cautious about their use. However, a recent reevaluation may allow certificates for Scope 3 emissions abatement and accelerate value chain decarbonization.
https://lnkd.in/d_ab5aS6
Originally published on LinkedIn on 2024-08-01 05:18:27: https://www.linkedin.com/feed/update/urn%3Ali%3Ashare%3A7224644629558661120
