.jpg)
(Photo: iStock)
The scope of corporate carbon reduction mandates continues to expand, with the Science Based Targets initiatives (SBTi) releasing two new reports on Feb. 28. These reports offer clearer guidance for companies to reduce the greenhouse gas (GHG) emissions beyond the value chain (Beyond Value Chain Mitigation, BVCM). Analysts believe that this move will contribute to ensuring the legitimacy of carbon offset usage and reducing controversies related to greenwashing.
BVCM refers to mitigation actions or investment conducted outside the corporate value chain or business activities. It encourages companies to invest beyond their internal decarbonization efforts, including initiatives such as expanding carbon removal and storage, reducing methane emissions, and eliminating industrial gas emissions. The goal is to achieve a gradual decline in global emissions after reaching a peak in the mid-2000s and to halve emissions by 2030.
