Air New Zealand becomes first major airline to drop 2030 climate goal. (Photo: iStock)
The Science Based Targets initiative (SBTi) was set to release a new draft guideline in July, especially focusing on carbon credit offsets for Scope 3 emissions, which has garnered significant public attention. However, as of August 1, the organization's website still has not posted the revised Corporate Net Zero Standard. Instead, it released a research report indicating that most carbon credits do not help companies achieve their climate goals.
Sherry Hu, an industry researcher at RECCESSARY who has been closely following the carbon market, believes this research underscores the increasing importance of carbon credit quality. And without clear guidance, more companies may withdraw from the SBTi.
