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SBTi to revise Corporate Net-Zero Standard and relax certain emission reduction criteria. (Photo: iStock)
The Science Based Targets initiative (SBTi) released the draft revision of its "Corporate Net-Zero Standard" on March 18. The revision proposes changes to the recognition of Scope 3 emission reduction and suggests that separate targets be set for Scope 1 and Scope 2 emissions.
The draft also proposes allowing companies to use carbon removal credits to offset their residual emissions, which is expected to inject new momentum into the voluntary carbon market.
SBTi corporate standard revision draft delayed for over 6 months
The SBTi aims to limit global warming to 1.5°C, making it the first global framework for companies to set net-zero emission targets, with the first version published in 2021.
