The Science Based Targets initiative (SBTi) is taking significant strides in environmental action by focusing on emissions reduction beyond the corporate value chain. On 28 February, the SBTi, in a joint effort with The Committee for Development Policy, the United Nations Global Compact, the World Resources Institute, and the World Wide Fund for Nature, unveiled two critical reports. These publications offer a blueprint for businesses to engage in beyond value chain mitigation (BVCM), a strategy aimed at reducing carbon emissions outside a company’s direct operations and supply chain.
Seedlings waiting to be planted in a tree nursery. AI generated picture.
The reports, titled Above and Beyond and Raising the Bar, serve as comprehensive guides for corporations looking to adopt BVCM strategies. Above and Beyond details methods for companies to facilitate global net-zero progress by assisting various stakeholders in minimising their carbon emissions and taking accountability for their residual emissions. It underscores the importance of BVCM in accelerating corporate environmental action and presents case studies across sectors, demonstrating practical implementation aligned with SBTi’s recommendations.
Raising the Bar complements its predecessor by examining incentives for BVCM adoption, influenced by entities across the climate action spectrum, including academia, policymakers, and advocacy groups. It addresses the challenges and incentives for BVCM's widespread application and proposes new mechanisms for encouragement.
Read more: Record-breaking leap: 87% surge in global corporations adopting science-based targets
Highlighting the urgency of transparent environmental finance, Lydia Sheldrake, the Voluntary Carbon Markets Integrity Initiative’s (VCMI) Director of Policy and Partnerships, calls for enhanced environmental finance scaling and the utilisation of high-quality carbon credits (carbon units) to surpass traditional emissions reduction targets.
Read more: Industry carbon footprints: transport, events, and celebrities
These guides align with SBTi’s Corporate Net-Zero Standard, offering a robust framework for businesses committing to science-based net-zero targets. DGB Group's eco-centric solutions stand as a powerful ally in the quest for net-zero emissions, delivering top-quality carbon units. Leveraging natural assets presents a significant opportunity to reduce your environmental impact. This approach aligns perfectly with the global shift towards sustainability, highlighting the critical contribution your business can make in building a stronger, healthier world. Whether it's reducing emissions or rejuvenating ecosystems, DGB's solutions can position your business at the forefront of environmental innovation and positive change.
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