LONDON – After it was criticised last week for plans to extend the use of carbon credits to offset scope 3 carbon emissions, the Science Based Targets initiative (SBTi) has performed a hasty volte face, saying there is “no change” to its current standards.
The retraction came just three days after the SBTi said companies would be able to use carbon credits to mitigate Scope 3 carbon emissions, which NGO Carbon Market Watch said had caused the SBTi to: “buckle to pressure from carbon market players and corporate interests to allow companies to meet scope 3 targets with carbon credits”.
